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 […]

Get Ready For Lower Quality Appraisals

The Hybrid Appraisal Is All The Rage Have you heard about the new trend in appraisals? Lenders have started requesting what is known as a bifurcated appraisal. A bifurcated appraisal, also known as a hybrid, involves dividing the appraisal process up among multiple individuals in an effort to save time and money. It usually looks […]

A Look at Real Estate Trends in the Crestwood and Avondale areas of Birmingham

Housing Trends in Crestwood and Avondale are Looking Good Have you been curious about home sales in the Crestwood and Avondale area of Birmingham? If so, I hope you will stick around because we’re going to take a look at past sales and current trends to see where this popular area of Birmingham is headed. […]

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