A Different Market I think we can all agree that the real estate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. The market dynamics have changed namely interest rates. Prices have held steady and even increased in some […]
How Many Comps Are Required In An Appraisal?
August 30, 2018 By 3 Comments
What Are Comps? As you may or may not know comps are short for “comparables“. Sales comparables are recently sold, listed, or contracted properties that would be a good substitute for the subject property being appraised. Comps are used in the sales comparison approach to value. This approach is one of three that is traditionally […]
4 Things an agent should do before they offer comps to the appraiser
March 29, 2016 By 8 Comments
Do you ever offer comps to the appraiser? Are you a real estate agent, and do you ever offer comps to the appraiser? If so then keep reading, because knowing how to present this information to the appraiser can increase the chances they’ll take you more seriously. Knowing what parameters to look for in a […]
10 Appraisal terms you should know
August 11, 2015 By 6 Comments
10 Appraisal terms you should know If you’ve ever gotten a home appraisal for either a home equity loan, refinance, or home purchase you may have looked over it and wondered what some of the terms used mean. Today I thought I would share 10 appraisal terms you should know in the hopes that it will […]
Ask The Appraiser: Can Pending Sales Be Used In An Appraisal?
July 14, 2011 By 12 Comments
I was asked a great question yesterday that I thought I would share with you. Can pending sales be used in an appraisal? The short answer is “yes”. Appraisers have three options for comparables. They include closed sales, active listings, and pending sales. The appraiser must use a minimum of 3 closed sales in the […]
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