Appraisal Threshold Increases In case you haven’t heard, the FDIC voted this past week to increase the minimum appraisal threshold to $400,000 for residential appraisals. This was a $150,000 increase from the previous amount of $250,000. What this simply means is that certain home sales of $400,000 and below will no longer require an appraisal. […]
What Does The Recent Change In The Appraisal Threshold Mean For Home Buyers?
August 28, 2019 By 14 Comments
How Do Appraisers Qualify Comps?
August 22, 2019 By 13 Comments
Why You Should Qualify Comps The comparable selection process is more than just picking the three highest sales in the neighborhood and then taking their average. I’ve heard that 90% of doing an appraisal is picking the right comps and I tend to agree. I think it’s important for those in the real estate business […]
Common Questions Agents Ask The Appraiser
August 15, 2019 By 6 Comments
Confused About Appraisals? Check Out These 11 Common Questions Agents Ask The Appraiser This week I thought I would take a look at some of the questions I get asked by real estate agents. I hope that the answers that I have included here will help other agents as well. If you have a question […]
Do Birmingham Home Appraisers Set Local House Values?
August 1, 2019 By 2 Comments
How Do Birmingham Home Appraisers Come Up With Value? I’ve recently read in the news and seen people’s comments that question an appraiser’s influence on home values. In one recent congressional hearing a participant accused appraisers of being racist and holding down home values in predominantly black neighborhoods. I also read comments from an individual […]
A Handy Home Appraisal Checklist For Homeowners And Agents
July 19, 2019 By 7 Comments
A Home Appraisal Checklist Can Make Your Appraisal Go Smoother Are you a checklist person? Checklists help us to remember important things that we don’t want to forget. Wikipedia gives this definition for a checklist: “A checklist is a type of job aid used to reduce failure by compensating for potential limits of human memory […]
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