Are You Familiar With The Principle of Substitution? When appraising homes, appraisers rely on various methods and approaches to arrive at an educated and market-supported opinion of value. Today I would like to discuss one of the basic principles that appraisers learn when training to become an appraiser that influences these methods and approaches, and […]
The Preserve- Hoover, AL Real Estate Market Update
December 21, 2021 By 2 Comments
The Preserve Housing Update: 2021 I recently completed a home appraisal in The Preserve neighborhood in Hoover, AL, and I thought I would share with you some housing stats. The Preserve is located next to Moss Rock Preserve which is a 350-acre nature preserve with large rock formations, streams, waterfalls, and other unique features. Hoover […]
Should You Trust An Algorithm For Your Home’s Value?
November 18, 2021 By 9 Comments
Zillow Takes One On The Chin In case you’ve been living under a rock lately and haven’t heard, Zillow is getting out of the home-flipping business. They recently announced they would no longer be involved in purchasing and reselling homes and they would shut down the Zillow Offers service. Their announcement was a shock to […]
Can I Sell My Home For Its Appraised Value?
November 2, 2021 By 4 Comments
Does Appraised Value Equal Sales Price? This question came to mind this week when I was speaking with a homeowner at an appraisal appointment. He didn’t ask me this specific question but he did make the following statement: “Just because your home appraises for a certain amount doesn’t mean that you can sell it for […]
Desktop Appraisals: Pros and Cons
October 27, 2021 By 4 Comments
Are Desktop Appraisals the Answer? The big news in the real estate, mortgage lending, and appraisal industry is desktop appraisals. In a recent announcement, FHFA Acting Director Sandra Thompson revealed that both Fannie Mae and Freddie Mac will continue to allow appraisals to be conducted remotely. This was very happy news for all of the […]
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