When does an appraiser need to possess geographic competency?
Do you have questions about terms you see in an appraisal report? Here are some definitions that may help!
Do you know if your home is in a FEMA Special Flood Hazard Area (SFHA)? Does it make a value difference? I recently appraised a home in which the lot was located in numerous flood zones. In fact, I see this on a fairly regular basis. The answer to the opening question regarding value is… Continue reading Does Being Located in A FEMA Flood Zone Impact Value?
There are many misconceptions regarding real estate agent's ability to communicate with appraisers. It feels like some agents have been taught that if they speak to or look directly at the appraiser, they might spontaneously combust! Many real estate agents have told me that they are not sure what they can discuss with the appraiser. So, let's clear… Continue reading Don’t Be Afraid of Talking to The Appraiser!
Often, when appraising homes, I see MLS listings that call a shed an out building. Ask any appraiser and they will likely say that a shed is not an outbuilding. So, are sheds outbuildings? Sometimes it's good to just get the definition from the dictionary and then go from there. According to Merriam Webster's dictionary,… Continue reading Are Sheds Outbuildings?