What Is A Bifurcated Appraisal And Why Should I Care?

A Closer Look At The¬†Bifurcated Appraisal They go by various names including hybrid and bifurcated appraisal but they have one thing in common: they are being touted as the next best thing since sliced bread. Why are lenders so excited about them? They’ve been promoted for lowering the cost and shortening the turn around time […]

Are Builder Premiums Really Worth What They Charge?

How Appraisers Handle Builder Premiums Have you ever built a new home and had the builder inform you that the lot had a premium on it because of where it was located? Or did they tell you that there was an upgrade package that increased the cost? Today I thought I would discuss how appraisers […]

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 […]

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