House Measurement Tips For Agents I previously wrote about Fannie Mae’s recent decision to require all loans they purchase to adhere to the ANSI standard for house measurement. You can read that post here. While I know that most agents in my area do not measure their own homes I still believe it is important […]
Excess Land vs Surplus Land, What’s The Difference?
February 1, 2022 By 19 Comments
How is Additional Land Valued In an Appraisal? When I started my appraisal blog part of my mission statement was that I wanted to inform and educate consumers and anyone else who wanted to learn about how and why appraisers do what they do. As is the case almost on a weekly basis I had […]
What The New ANSI Standard Requirement Means For Appraisers and Agents
January 27, 2022 By 7 Comments
ANSI Standard Now A Requirement In case you haven’t heard, Fannie Mae announced in December that starting on April 1, 2022, they will require the ANSI measurement standard to be used on all properties they purchase. This requirement is for homes that require an interior and exterior inspection. The floorplan sketch must be computer generated […]
Agents, Are You Using Tainted Sales In Your CMA’s?
January 20, 2022 By 4 Comments
Avoid Tainted Sales and Price More Accurately It’s a proven fact that if a house is priced correctly it will sell. If it’s not, then it could take longer to sell and the final sale price may be lower than it normally would be. Using legitimate sales is key in pricing a home correctly in […]
What is the Principle of Substitution in Appraisal?
January 12, 2022 By 12 Comments
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 […]
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