Excess Land vs Surplus Land, What’s The Difference?

How is Additional Land Valued In an Appraisal? When I started my appraisal blog part of my mission statement was that I wanted to inform and educate consumers and anyone else who wanted to learn about how and why appraisers do what they do. As is the case almost on a weekly basis I had […]

What is the Principle of Substitution in Appraisal?

Are You Familiar With The Principle of Substitution? When appraising homes, appraisers rely on various methods and approaches to arrive at an educated and market-supported opinion of value. Today I would like to discuss one of the basic principles that appraisers learn when training to become an appraiser that influences these methods and approaches, and […]

Can I Sell My Home For Its Appraised Value?

Does Appraised Value Equal Sales Price? This question came to mind this week when I was speaking with a homeowner at an appraisal appointment. He didn’t ask me this specific question but he did make the following statement: “Just because your home appraises for a certain amount doesn’t mean that you can sell it for […]

Is My Home Appraisal Confidential?

Home Appraisal Confidentiality “Is My Home Appraisal Confidential?” This is a fairly common question I get asked that I have not touched on in a while. In this post, I’d like to share a little bit about who has access to information in the appraisal and who actually gets the report. First off I would […]

How Do Appraisers Use Active Listings and Pending Sales In An Appraisal?

Can Active Listings and Pending Sales Be Used As Comps? Most people are familiar with what a “comp” is in real estate and more specifically in an appraisal. A short definition for a comp would be a property that is an acceptable substitute for the property being appraised. An acceptable substitute would mean that the […]

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