Should I Make Repairs To My Home Before It’s Appraised?

To Repair Or Not To Repair I received a phone call this week from a reader of my appraisal blog. They told me that they are getting a home equity loan and the real estate appraiser is coming out next week. They wanted to know if they should make repairs to their home before the […]

Why Appraisers?

Appraisers Under Fire Once Again Appraisers are once again being brought into the public spotlight as their importance in the home valuation process is being questioned. In a recent move, the FDIC, Federal Reserve, and the Treasury Department issued a joint proposal that would eliminate the need for an appraisal on mortgages for less than […]

What is Functional Obsolescence?

What Is Functional Obsolescence? You may never have heard the phrase “Functional Obsolescence” before but I’ll bet you’ve seen it. Today we’re going to take a look at a common flaw in homes that can negatively affect their value. The textbook definition (from the Dictionary of Real Estate Appraisal, 5th Edition) states that functional obsolescence […]

Will Birmingham Opportunity Zones Increase Home Values?

Birmingham Opportunity Zones Could Transform The Area  Birmingham recently became eligible for a federal program that provides tax breaks to investors who are willing to put their money into specific low-income areas around the metropolitan area. This could be a game changer for the city and could potentially have a positive impact on home values […]

What Would Happen if There Were No Appraisers?

Will Appraisers Be Replaced? Over the last several years appraisers have been faced with the threat of being replaced by computers and big data. We’ve all read the buggy whip analogies that illustrate the point that if we do not adapt to new technologies and processes we will see the demise of our industry. I […]

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