Appraisal Profession, Appraising, Market Activity

What’s The Leaven Causing Home Prices to Rise Today?

What caused home prices to increase rapidly in the years leading up to the Great Recession vs. today? I discuss the differences in this article.

Appraisal Profession, Appraising, Helpful Info For Agents

3 Ways Agents Can Help Appraisers to Be More Accurate

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

Appraising, Helpful for FSBO, Helpful Info For Agents, Helpful to Homeowners

Why You Should Have Your Home Measured Before You List It

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

Appraising, Helpful to Homeowners, Home Repairs, Market Activity

Are Home Buyers Regretting Their Purchase?

What are some potential reasons why a home buyer may later regret their purchase? In this article I discuss some things to think about that may help avoid home buyer remorse.

Appraising, Helpful for FSBO, Helpful Info For Agents, Helpful to Homeowners, Home Repairs, Market Activity

How Depreciation Works

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

Appraisal Profession, Appraising, Cleveland Area, Helpful for FSBO, Helpful to Homeowners, Market Activity

Who Needs Appraiser’s When One Has Cash?

Who needs an appraiser when one has cash? That's a question a good friend asked me after telling me that a home on the same street from them sold, in hours, for a much higher price than many other generally similar homes are selling for in the neighborhood. The buyers paid cash. I must admit,… Continue reading Who Needs Appraiser’s When One Has Cash?