Talk is that there is starting to be a shortage of homes for sale in the real estate market, and in case you missed your basic economics course supply and demand play a big part in home prices. To refresh your memory: If the supply of a good (ie homes) is reduced, and the demand remains the same or increases then the price will most likely increase. If there really is a shortage of homes then home prices will probably be affected, so it is very important for the appraiser to be able to determine if there is a shortage or an oversupply of homes. I thought I would share with you how appraisers go about making this determination.
How do appraisers determine if there is an oversupply or shortage of homes?
April 30, 2014 By 2 Comments
How do appraisers work in an appreciating market?
April 25, 2014 By Leave a Comment
I’ve been asked how appraisers account for value changes in an appreciating market, so I thought I would share with you how appraisers approach this situation. Some people believe that due to recent shortages in inventory that home values are starting to show appreciation, however I think that these occurrences are not widespread and do […]
Savannah Pointe Subdivision- Calera, AL Real Estate Market Report 2014
April 18, 2014 By Leave a Comment
Savannah Pointe Subdivision- Calera, AL Real Estate Market Report 2014 The Savannah Pointe subdivision is located in Calera, Alabama in north Shelby County. This development offers a community pool, clubhouse, and homeowner association. From March 1, 2013 to March 1, 2014 the Birmingham MLS reported the following statistics: Median Sales Price $128,000 Average Price Per […]
Will Phil Crawford’s new YouTube program provide a louder voice for appraisers?
April 10, 2014 By 2 Comments
I thought I would take a break from local market reports and appraisal education to discuss something I believe to be pretty significant for the advocacy of all appraisers. Within the past month real estate appraiser Phil Crawford launched his “Voice of Appraisal” YouTube program that covers important issues and concerns that appraisers are having. […]
Do I need a pre-listing appraisal even If I’m using a real estate agent?
April 3, 2014 By Leave a Comment
My best answer for this question is “It depends”. Some people think that just because they are using a real estate agent that they don’t need an appraisal, but this is just not true in every situation. I thought we could take a look at times when it would make sense to get an appraisal […]
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