Where Is The Birmingham Real Estate Market Headed? Just when you think the Birmingham real estate market can’t get any higher, it does. When I say high, I’m not only talking about sale prices but the number of offers as well. Even though it’s not the highest price ever paid in this area, there was […]
Birmingham Median Home Prices: Feb ’21 vs Feb ’22
March 22, 2022 By 2 Comments
A Look At February Year Over Year Median Sales Price In Birmingham So how’s the Birmingham real estate market looking? This is a question I get asked frequently since I am a real estate appraiser. There are a lot of different ways to look at the real estate market. Today I thought I would focus […]
Understanding The Appraisal Part 3: The Cost Approach
March 10, 2022 By 4 Comments
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 […]
Understanding The Appraisal Part 2: Condition and Quality Ratings
March 1, 2022 By 8 Comments
A Closer Look at Condition and Quality Ratings Last week I kicked off my “Understanding The Appraisal” series by discussing the Adjusted sale price of comparables. This week we’re going to look at the Condition and Quality Ratings assigned to the subject property. Prior to the introduction of the Uniform Appraisal Dataset (UAD), appraisers would […]
Understanding The Appraisal Part 1: What is “Adjusted sale price of comparables”?
February 22, 2022 By 13 Comments
Understanding The Adjusted Sale Price of Comparables I’m kicking off a short series to help readers of an appraisal report understand what they are looking at. It seems sometimes that the only two things that most people are concerned about with an appraisal are how fast can you get it to them and what is […]
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