In most parts of the country, real estate appraiser's main source of data is the multiple listing service. (MLS) We use it to find homes that are comparable to the ones we are valuing, to determine what buyers are paying for similar homes. We also use the MLS to analyze the market trends and to… Continue reading 3 Ways Agents Can Help Appraisers to Be More Accurate
If you're not an appraiser, and you're trying to figure out the value of a home, chances are good that you use a price per square foot metric. I've written about this topic in the past. That way of measuring the market can lead to an opinion of value that is in the ballpark of… Continue reading Why You Should Have Your Home Measured Before You List It
What is the primary reason a newly built home has a higher market value than the same home that is older? In a word, depreciation. What is depreciation? Simply stated, it is loss in value. There are three basic causes of depreciation for homes. Physical, functional, and external obsolescence. What do they indicate and how… Continue reading How Depreciation Works
When a rainbow appears, it can put a smile on our face. They are so beautiful! When one appears, you can be sure that images of one will appear on social media, as people share their beauty with others. Rainbows are artwork in the sky. For many, including me, they invoke happy feelings. Perhaps they… Continue reading What’s Your View?
Hello! I hope that you are enjoying the warmer weather! With the spring selling season upon us, my volume of work has been very high. So, I am grateful for guest bloggers who provide me with some great articles to share with you. I hope you've been enjoying them. I have one more this week.… Continue reading Tips for Increasing Your Home’s Value Without Spending a Fortune
If you ever get the chance to visit Pymatuning Lake in PA, which is on the boarder of Ohio and Pennsylvania, make sure to go over to the Linesville Spillway. It is an amazing site. Hundreds of Carp congregate in the spillway, battling for food. Throw a little bread in, and it's a feeding frenzy!… Continue reading The Housing Market Has Become Like the Pymatuning Spillway
Like most aspects of an appraisal, things seem easy. That is, until one takes a closer look. Age is a good example. It seems logical to think that a newer home is more valuable than an older home. However, that's not always the case. Last week, a real estate agent asked me about how appraisers… Continue reading When & How do Appraiser’s Adjust for Age?