Appraisal Terms That Are Out of This World

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A couple of weeks ago, NASA successfully sent two astronauts to the International Space Station. That was pretty cool to watch!

That was not fiction. However, in addition to being fascinated by space, I enjoy science fiction. For me it’s a little way to escape reality, at least momentarily.

Since space is the only place that is pandemic free, I thought it would be fun to try to apply space and science fiction terms to real estate. Let’s take a little break from the stressful atmosphere we are experiencing here on earth and have a little fun. Perhaps you can think of more.

If you would like to share some of your fun space related, fictional definitions, don’t be afraid to comment below.

Here we go, in 3-2-1!

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Stunned – The look on a borrower’s face when the appraised value comes in much higher or lower than anticipated.

Shuttle – The act of moving your family out of the house when the appraiser comes over for home observation, and when the real estate agent calls and says there is a showing in T-minus 30 minutes.

Orbit– The path homeowners take whilst following the appraiser around the home, trying not to follow too closely by maintaining at least six feet of distance. (Probably taking pictures of the appraiser in the PPE)

Black hole – The place where Zestimates go after being debunked by reality.

Nebulous – A real estate appraisal that offers little if any explanation as to how the opinion of value was developed. Also, a listing price derived from a real estate agent who didn’t do their homework when coming up with their list price.

Gravity – The seriousness of making sure the appraisal report is supportable and is USPAP compliant. Further, the importance of not over-paying by getting an appraisal completed before buying a property.

Star – A hard working and honest real estate agent, appraiser, or other real estate professional.

Laser – The measuring device many appraisers use to measure a home. Or, a device that homeowners use to play with their animals.

Light Year – The feeling of the time it takes from the appraiser inspecting the home to the report being delivered.

Speed of Light – The homeowner’s feeling of how fast the appraiser inspected their property.

Scan – The act of looking through the appraisal to find the one thing that is important to the reader, the value.

Beaming – The look of pride of homeownership.

Alien – How people feel about the way appraiser’s view things. The Uniform Standards of Professional Appraisal Practice are alien to most non-appraisers.

Rebels – Sometimes what appraisers are accused of being. Usually due to being the one person in the transaction that is a disinterested and unbiased third party.

Droning – The act of take aerial videos and of homes. Also, the acting of appraisers talking about our work with their non-appraiser family. (They just droned on about the appraisal process, for what seemed to be light-years)

Blast – The feeling knowledgeable appraisers have while doing their work. (Most if the time)

Quantum Jump – The way many in the market view the changes in home prices in their market, up or down.

Reentry – The process of an appraiser going back to a home to verify repairs were made.

Astronomical – The price some homes are listed for, despite what the market will really support.

Guidance System – The services appraisers can offer to help make educated decisions in a real estate transaction.

Density – The lack of thinking ability, by any professional, often created by apathy and/or arrogance.

Element – Aspects of a home that add value.

Latitude – The appraiser’s ability to determine the scope of work necessary to adequately develop a credible opinion of value.

Singularity – The description of the number of appraisers in most appraisal companies.

Wavelength – Market reactions the appraiser tries to measure.

Matter – All people. All people matter!

Well, that’s a wrap folks! I hope you had a little fun going through these. I poked fun a most everyone, including us appraisers. So, I hope no one took offense to these. Now we can get back to dealing with the gravity the situations may find ourselves in.

If space travel fascinates you , enjoy this little video on space travel. It’s amazing how big the universe is! I know this week’s post was light. In two weeks, this blog will come back to earth and talk about something more substantive. In the meantime, have a great two weeks!

 

Thanks for reading my blog!

I hope you have a great two weeks! Be safe out there!

 

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Looking for a qualified real estate appraiser in your area? Go to www.FindMyAppraiser.com

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You can also listen right here at Cleveland Appraisal Blog! www.homevaluestories.libsyn.com

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Here are some links to other articles and podcasts I’ve enjoyed recently! I hope you will also…

Catch You On The Housing Side Of This Crisis? – Housing Notes by Jonathan Miller

The skinny on accessory dwelling units –Sacramento Appraisal Blog

Stats and Graphs: George Dell Talks SWOT! Their Strengths, Weaknesses, Opportunities and Threats. What’s Up with Residential Real Estate Appraisal Right Now – The Appraiser Advocate’s PODCAST

What makes a bedroom? – Real Estate Gumbo PODCAST

Data Driven or Appraiser Driven? – George Dell’s Analogue Blog

Waivers; Way House; Unemployment Help For Fee Appraisers – APPRAISAL TODAY