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 […]
What Is A Competitive Market Area?
February 18, 2021 By 9 Comments
Competitive Market Area Explained A competitive market area is something that I write about quite a bit when discussing comparable sales selection. It answers a lot of questions about where agents can look for sales when pricing a home. The sales comparison approach is the most recognized approach for non-appraisers. Most people know what a […]
Anatomy of a Sales Comparable
January 19, 2021 By 9 Comments
Importance of the Sales Comparable In the past, I have written extensively about sales comparables and their use within the appraisal report. I have explained what makes a good sales comparable and the process you should take in choosing them. The sales comparison approach is typically given the most consideration in the appraisal report. There […]
5 Questions Your Appraiser Should Be Asking
October 28, 2020 By 5 Comments
Why Appraisers Ask Questions The main objective of the appraisal process is to research and discover as much about the subject property in order to determine its market value. The appraiser’s job is similar to that of a private investigator in that they must interview people, verify information, and gather vital facts about the property […]
Will The Appraiser Give Me Full Credit For My Landscaping?
October 7, 2020 By 9 Comments
How Much Value Do You Get For Landscaping? I was asked this question about landscaping by a homeowner during an appraisal inspection this week. I thought I would share the answer on my blog because I’m sure others have asked the same question. My answer really doesn’t just pertain to landscaping though. It can explain […]
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