PMI Removal Appraisals
PMI Removal Appraisals

The mistake some homeowners make is they continue to pay this mortgage insurance long after it’s no longer needed. The good news is that once you’ve reached 20% equity by […]

Property with Limited Comps
Property with Limited Comps

Most everything that a typical real estate buyer would look for in a home needs to be weighed by the appraisers. This includes everything from neighborhood marketing time, to proximity […]

Determining a Homes Worth
Determining a Homes Worth

Compare properties One way to decide if a home’s price is fair or not is by comparing similar properties that have been sold in the area. Comparable homes should be […]

What is a Comparable?
What is a Comparable?

The methodology of an appraisal report Comps are based on sold properties in the surrounding area that are the most similar overall to the home being appraised. Here are some […]

How to Prepare for an Appraisal
How to Prepare for an Appraisal

Here is a short checklist Clean house – Though the appraiser will not take tidiness into account when evaluating the property, it’s important to clean up for accessibility reasons. That […]

Fuzzy Math and the Legal Description
Fuzzy Math and the Legal Description

Metes refers to the straight line between two points. Each point is a monument. This includes the curb of a road, a boulder, tree line or any other element that […]

What is a Drive-by Appraisal?
What is a Drive-by Appraisal?

How can the appraiser provide an accurate appraisal if they don’t even walk through the front door? In a drive-by appraisal, the appraiser is really just making sure that the […]

How is an Unfinished Home Appraised?
How is an Unfinished Home Appraised?

An “as-is” appraisal is fairly common and just as it sounds, it’s an appraised value for a home in its current condition during the time of the appraisal. A “subject […]

Let’s Talk Basements
Let’s Talk Basements

Just like in Home Alone, when Macaulay Culkin would run up the basement stairs when the furnace started to click and groan, they can be a scary place when you’re […]

The Appraisal Report Shelf Life
The Appraisal Report Shelf Life

For mortgage purposes, it would be the lender’s decision to set the time frame in which they will accept a dated appraisal. However, to answer that question, one must understand […]

Short Sales and Foreclosures
Short Sales and Foreclosures

That means that distressed sale values in a given market could possibly affect the appraised value of a property, depending on its proximity and how prevalent short sales are in […]

What Goes Into An Appraisal Report?
What Goes Into An Appraisal Report?

So what kind of details are we talking here? We are not just talking about the structural integrity and style of the house or the land that it was built […]

Highest and Best Use of a Property
Highest and Best Use of a Property

As most residential appraisers know, secondary market lenders are not encouraging use of the cost approach. Are we then, actually determining the most profitable use of the land by developing […]

Why do I Need an Appraisal?
Why do I Need an Appraisal?

Today I want to focus on those areas that may not be so well known. Anytime you need to know what your home is worth, you need an appraisal. I […]

Ground Rent FAQ’s
Ground Rent FAQ’s

Q. Can you Provide Information on Ground rents and How to Capitalize them? A. When appraising in areas where ground rents are prevalent, thus creating a leasehold, it is incumbent […]

Are Appraisals Just an Average of Sales?
Are Appraisals Just an Average of Sales?

Have you heard this, or is this what you think? This could not be further from the truth, so I felt it necessary to explain how appraisers come up with […]

How to Appeal Your Property Taxes
How to Appeal Your Property Taxes

It’s an unfortunate but true fact: property values are declining. With the number of foreclosure properties and short sales entering the market, property values have declined in most areas. In […]

It All Starts With Market Value!
It All Starts With Market Value!

A common thread I have seen in many failed real estate transactions is the failure to start with market value and work backwards. I will give you two examples and […]