Appraisal Articles 2019 Free Appraisal Articles for Appraisers and the Public
Feb 7, 2014
I just want readers, contributors and potential contributors to realize that the...
Dec 28, 2013
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Nov 30, 2013
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by Administrator on Jun 4, 2016 • Business Operation • 534 Views
The simple answer to this question is yes, you are almost always exposed to potential litigation when you accept an appraisal assignment. You can do a number of things, some discussed in this article, to mitigate your exposure as an appraiser but you cannot make yourself or your appraisal reports "bulletproof." Appraisers attempt to limit their litigation exposure by purchasing errors and omissions insurance, but it's like any other insurance, you can only afford to keep it if you have no claims. So paying attention to business details may be one of the only positive things that an appraiser has control of to limit their liability.
by Administrator on Jun 12, 2016 • Residential Appraisal • 668 Views
Views are worth what market participants are willing to pay for them. When demand is high and buyers are competing for properties they will often pay significantly more for a view of the mountains, the city or a body of water. When demand is relatively low then buyers look at a view as an aesthetic that they may enjoy but not something that they want to pay a large premium for. So the premium that buyers are willing to pay for a view amenity has to do with the market. How do you know whether a view amenity will add $ 10,000 or $ 100,000 to a property's value? It's all about finding comparable sales. If you have sales in the same neighborhood that have no view that sold for $ 250,000 and a similar property sale with a view that sold at $ 290,000 the difference may be attributable to the view. Appraisers now have access to amazing amounts of data and it's not as difficult as it used to be to recognize property differences.
by Administrator on Jun 13, 2016 • Appraisal Industry • 1572 Views
Think about it, how would you go about changing the current state of the appraisal business to make it better? Streamline reports? That is code for shortening the form, or shortening narratives to the “10-page report” format and it’s just another way to say that data we now believe to be necessary will no longer be included. Do users of appraisal reports really want less information reported? It sounds like a giant step backward toward the 1-page report. It’s my opinion that consumers don’t really care about the appraisal process, they just want a market value opinion and oh yes I have to be able to defend it in court or in front of the regulatory board if the opinion is challenged.
by Administrator on Jun 14, 2016 • Homes • 2014 Views
If you are in the appraisal business for any amount of time you will be asked to appraise atypical or even unique structures like earth-sheltered, A-frame, pyramid and geodesic dome improvements. Since structures like a dome are not typical in the market the first hurdle you have to jump is that of competency. You have to be able to discuss the fact that you have access to the data necessary to produce a credible result. So if you have access to the local Realtor Multiple Listing Service (MLS) and a cost manual you basically have access to most of the data available. Of course you still need geographic competence and it is helpful if you have appraised atypical homes in the past.
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