Appraisal Profession, Appraising

How Remaining Economic Life Works

If you're reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, "Remaining Economic Life". What does this number indicate? At first, you might be thinking that… Continue reading How Remaining Economic Life Works

Appraising, Helpful Info For Agents, Helpful to Homeowners

When & How do Appraiser’s Adjust for Age?

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?