Appraising, Market Activity

The Value Difference Between Glancing at Data and Analyzing It

Have you ever heard of an autostereogram? It is a picture which allows some people to see a 3D image by focusing on 2D patterns. In the mid 90's these kinds of pictures were often called "Magic Eye" pictures. There were some very specific steps that a person had to take to be able to… Continue reading The Value Difference Between Glancing at Data and Analyzing It

Appraising

What Is The Principle of Substitution In Real Estate?

Remember the Payless Shoe Source's slogan, "You could pay more, but why?" In that question lies a principle that every appraiser has to consider in the appraisal process. In real estate, it is called the principle of substitution. What is it? The principle of substitution is basically this: If there are multiple properties that are… Continue reading What Is The Principle of Substitution In Real Estate?

Appraising

4 Examples of How Stigmas Can Impact Real Estate

What is a stigma anyway? According to dictionary.com, one definition is: "A mark of disgrace or infamy".  Bing.com states that "The origin of the word comes from the late 16th century. The word denotes a mark made by pricking or branding something, or a mark made by a pointed instrument." So the point is that a… Continue reading 4 Examples of How Stigmas Can Impact Real Estate

Appraising

5 Ways Appraisers Can Protect Real Estate Agents

Can you think of some preventative things we do in life to avoid or at least minimize problems? Oil changes, cleaning gutters, healthy eating, exercise and colonoscopies? (yeah, I went there) Granted, these things cost money. Sometimes they are downright inconvenient.  However, we take these measures because, in many cases, they protect us from entering in to a… Continue reading 5 Ways Appraisers Can Protect Real Estate Agents