As an appraiser I estimate value. My estimate is based on several different methods, however the approach that is usually given the most emphasis is the market approach. This approach, which is also known as the sales comparison approach, utilizes recent sales of similar homes within the subject property’s market area. In today’s economic climate […]
Why So Many Vacant Houses?
March 20, 2010 By 5 Comments
I say this as if I don’t know the answer. I think I know part of the answer. In the day to day business of an appraiser we have to look at lots of houses in the MLS, both closed sales and active listings. I would say that at least half of the ones I […]
Foreclosures Have Big Impact on Birmingham Home Sales
March 14, 2010 By 5 Comments
The Birmingham Association of Realtors recently released sales data for the greater Birmingham market. Over the past 14 months the data indicates that foreclosure sales have held fairly stready with small variations, while traditional sales have varied quite a bit. The traditional sales were at a low in January then peaked around July and then […]
FHA Tip: Turn The Water On To Save Your Borrower Money
March 14, 2010 By 4 Comments
I recently did an FHA appraisal on a property. The home was relativily new so there were not major issues with peeling paint, inadequate electrical service, or other typical concerns. The only issue was the fact that the water had not been turned on. The property was a foreclosure so this is not untypical, however […]
Birmingham Alabama Appraiser : Helena Alabama-Old Cahaba Market Trends-2010 Update
March 7, 2010 By 2 Comments
The following data reflects market trends within the Old Cahaba subdivision, located in Helena, Alabama. This is a large development that is located on the Cahaba River. It offers a clubhouse and pool to residents. There are several styles of homes available, with some built on slab foundations and others having basements. Each type of […]
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