A Closer Look At The Cost Approach There are three approaches to value that can be used in a residential appraisal. They are the sales comparison approach, the income approach, and the cost approach. Today I will be explaining the cost approach to value. This approach is not given as much attention as the sales […]
Desktop Appraisals: Pros and Cons
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?
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 […]
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