Should I Make Repairs To My Home Before It’s Appraised?

To Repair Or Not To Repair I received a phone call this week from a reader of my appraisal blog. They told me that they are getting a home equity loan and the real estate appraiser is coming out next week. They wanted to know if they should make repairs to their home before the […]

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 […]

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 […]

How Do Appraisers Calculate Price Per Square Foot?

Think You Understand Price Per Square foot? Have you ever wondered how appraisers calculate the price per square foot of a home? If so, then I hope you’ll keep reading because I would like to clear up some confusion about how to calculate this popular metric and share my thoughts on how much importance we […]

How Many Comps Are Required In An Appraisal?

What Are Comps? As you may or may not know comps are short for “comparables“. Sales comparables are recently sold, listed, or contracted properties that would be a good substitute for the subject property being appraised. Comps are used in the sales comparison approach to value. This approach is one of three that is traditionally […]

Sign up and get valuable content!

  • Get local real estate market data
  • Learn valuable information from a seasoned appraiser
  • Find out what adds value to your home

I respect your privacy. Your information stays with me.