Appraisal Articles 2018 Free Appraisal Articles for Appraisers and the Public

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Appraisal Articles is an Internet website dedicated to providing free information in the form of articles on appraisal and real property / real estate topics to appraisers and the public.  Authors are invited to contact us and submit related original articles for approval. 

Buying a Tavern and Need an Appraisal?

by Administrator on Jul 6, 2018 Business Appraisal 7 Views

The initial reaction of most appraisers to that comment is to ask “are you buying the real property, the business entity or both?” It’s amazing when at times you discover that a buyer doesn’t even know what he or she is wanting or trying to buy. For appraisers the assignment is dramatically different if it’s just a real property appraisal versus a business appraisal that includes the real property. Most qualified real property appraisers wouldn’t have a problem completing an appraisal of the real property. If the party needs a business-only appraisal most real property appraisers would pass the client along to someone who appraises businesses. An assignment can however swerve quickly if it has to include both the real property and intangible assets like licenses and business income and it’s then described by the client as a “going-concern” appraisal including the real property. That usually means that it’s not just a real property appraisal that’s needed, it’s real property

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The Las Vegas Real Estate Market 2018

by Administrator on Jul 5, 2018 Market Conditions Articles 10 Views

The following graphic, based on Greater Las Vegas Association of Realtor data, says it all. The number of sales (in purple) are falling while the average price of a home (in green) is rising. As I discussed in a previous article this change in market conditions is playing havoc with the market and it has since 2015. For sellers, they want to increase the sales price of their homes in keeping with the trend. For buyers they are having to bid higher and higher to purchase the home that they want.

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Appraisals for Real Estate Agents

by Administrator on Jul 3, 2018 Market Conditions Articles 10 Views

Do some real estate agents / brokers have unreasonable appraisal expectations? If the agent / broker starts your conversation by saying “I already have an appraisal but it’s too high” or they say “it’s too low” you are headed for problems. My last assignment the agent had a high appraisal, he didn’t disclose the value to me and I didn’t ask, but he couldn’t put the deal together so called me and asked for another appraisal. My appraisal was “too low” for him so he asked his money back. I have refunded appraisal fees, not many over 40 years, but if there is a valid reason I will consider it. The value being “too low” is not a valid reason.

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Are Your Real Property Taxes too High or too Low?

by Administrator on Jun 20, 2018 Property Tax Dispute 9 Views

I have appraised properties and found on occasion that the assessments and taxes being paid by the owner are extremely high or extremely low. It’s one of those things that just jumps out at you, if you have completed reports on similar properties you get used to seeing assessments and the taxes paid fall into a typical or normal range. Owners get into a pattern of paying their taxes without question. Many run businesses and they just don’t think about property taxes. If the taxes are $ 6,000 per year or $ 16,000 per year, they just make the payment and think about the size of their tax deduction and they don’t consider that their property taxes may be $ 10,000 higher than they should be annually.

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Mortgage Interest Rates and Appraisals

by Administrator on Jun 18, 2018 Market Conditions Articles 25 Views

If you are lucky enough to find a home, especially in one of the high housing demand states, you should be happy that rates aren’t 8.0% or higher. I know that sounds painful, no one wants to hear that a situation that is becoming worse is not that bad, but I can honestly say that I would be happy with a 4.75% to 5.25% mortgage interest rate. If you have ever taken a 30-year home mortgage with an 8.0% to 10.0% interest rate, like I have, you can put recent increases in perspective. If you have only been around to see 3.31% to 5.0% mortgage interest rates I’m sorry to inform you that you are out of touch with reality. It doesn’t take much to get back to higher rates, probably not as high as the record 18.63%, but higher than the near 5.0% that we have today. Those who decided to wait for rates to fall may never get another chance to buy or cash out for years.

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