5 Mistakes homeowners make in pricing their homes Appraisers measure market value, and market value is defined as the following: Market value is the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and […]
Can my house be appraised in the middle of a renovation project?
June 23, 2015 By 66 Comments
Can my house be appraised in the middle of a renovation project? During one of my recent assignments I was speaking with the homeowner to set up the appointment. Whenever I do this I like to ask questions about their house including whether it has had any recent updates or renovations. It turned out that […]
What is the FHA rule for electrical outlets?
June 16, 2015 By 33 Comments
What is the FHA rule for electrical outlets? FHA appraisals vary from conventional appraisals on various things related to the safety, soundness and security of the house. Some of the items that appraisers look at to determine whether they function or not can be easily inspected by the seller or real estate agent prior to […]
Have we reached a tipping point in social media for real estate appraisers?
June 11, 2015 By 14 Comments
Have we reached a tipping point in social media for real estate appraisers? Almost every other “cause” has embraced and used social media to strengthen it’s position and rally its members to action, so why not real estate appraisers? In his book “The Tipping Point” Malcolm Gladwell describes a tipping point as “the moment of […]
A growing concern in the Birmingham, AL Multiple Listing Service
June 8, 2015 By 4 Comments
A growing concern in the Birmingham, AL Multiple Listing Service With a little over a year into the implementation of the requirement to add square footage figures to multiple listing sheets I see a common trend that bothers me. I frequently see inaccurate square foot figures being added to listings that will in the long […]
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