In theory, all markets are driven by economic fundamentals, and if we assume that our open market economy will remain intact following the “recession of 2008″ and the possible depression that may follow, the same basic economic theories and principals that have applied to the appraisal profession in the past (supply and demand, substitution, balance and externalities) will continue to apply to it in the future.

Professional appra

Property appraisal or property valuation is the process of determining the value of the property on the basis of the highest and the best use of real property (which basically translates into determining the fair market value of the property). The person who performs this property appraisal exercise is called the property appraiser or property valuation surveyor. The value as determined by property appraisal is the fair market value. The property

Why is a Property Appraiser Important to the Home Buying Process?

It doesn’t matter what part of the home buying process you are a part of — the buyer or the seller — a real estate appraiser is important to you and necessary to the home transaction. An impartial appraiser will come in and check out the home and property and come up with true value. The appraiser does this in order to protect the seller, buyer and lender

For many homeowners seeking help to stop foreclosure, refinancing their current mortgage is quickly becoming the option of choice, especially if they feel their home has enough equity in it to justify the decision. The only way this can be determined, however, is through a property appraisal. The problem with this is most home owners haven’t a clue as to their home’s real value as compared to the housing market where they live.

As an Certified Appraiser I can tell you that the most common mistake that many beginning real estate investors make is that they pay too much for property. Fact is overpaying for property is often cited as the number one reason why so many newcomers fail to make it as profitable real estate investors. That’s because most beginning real estate investors are woefully under capitalized, and they don’t have the deep pockets that are needed to su

Residential Property Appraisals Appraisals of houses are often needed for judicial proceedings. This includes estate planning, filing estate tax returns, divorce and civil disputes regarding construction defects and fraud. Carefully define the purpose of the appraisal and the scope of work with your appraiser prior to entering into an engagement. The scope of work needs to be tailored to the purpose of the house appraisal.

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So, after careful consideration of the time, expense, and energy involved in selling your own home, you have decided to go the For Sale By Owner route. You have taken care of all necessary inspections and legalities, you are ready to plant a sign on your front lawn and place an ad in the paper.

Before you take these steps to attract potential buyers, of course, you will need to know the value of your home. This will help you to finalize t

When you need a home appraiser, you may not want to spend much time on the process initially. But it is important that you do some work in selecting an appraiser because they will be the person to decide the value of the home you are selling or the home you are buying. In some cases, the bank will select the appraiser, but you will have a chance to hire an independent appraiser to be on the same side. Here are some ways to locate and select a pro

A professional appraisal is usually required when you are either selling or buying a property or a home. An appraisal is not just required, to have a professional come and do one can be costly for you also.  There are a number of factors that influence the price of a professional appraisal done on your property. Depending on the type of property you are getting appraised or the value of it, a professional appraisal can cost from a wide range of

With the present downturn in the market and home prices dropping faster than a lead balloon, I thought it best to share with you what I’ve learned regarding property appraisals.

Here is the cold, hard truth on valuations and what appraisers will NEVER tell you. Keep these points in mind on every loan you do.

1. Cosmetic stuff such as paint, new carpets, window treatments, etc. do not increase appraised value,