This week’s appraisal news covers choosing comparables dangerously, the challenges and changes of being an appraiser, and the home office tax deduction you may or may not be qualified to take. There’s more talk about AMCs and the seemingly high price of an appraisal from the consumer’s point of view. Everyone’s talking about March Madness, so in the spirit of those players who aspire to go from NCAA to NBA, we’ve featured some dream houses owned by today’s pros.
Three dangerous ways to choose comps
There is more than one way to find comparables for a property to try to determine value. This article points out how important it is to be objective and avoid doing something that might impose a particular value on a property.
Challenges and changes of a real estate appraiser
Gary Crabtree first started working the appraisal profession in 1962, so he’s seen a thing or two over the years. Find out what this 50-plus-year veteran of appraisal has to say about his continued love for this challenging profession.
The home office tax deduction: one of the most misunderstood (and dangerous) tax breaks
Although the weekend has given us two extra days to file, tax time cometh (April 17). According to the Bureau of Labor Statistics, nearly one-quarter of all workers do some or all of their work from a home office—even those who are employed by another company. Are you entitled to the home office tax deduction?
15 jaw-dropping mansions owned by NBA stars
As March Madness winds down, basketball is on everyone’s mind. How many of the NCAA players are we watching today who will be the NBA stars of tomorrow? How many dream of owning properties like these, belonging to current pros? Appraising these beauties is a dream of a different sort!
Paying a lot for an appraisal? A middleman may be getting a large part of the fee.
Many consumers might believe appraisers are getting paid a lot of money to value their homes. But the truth is that AMCs (appraisal management companies) are serving as the “middle man” in many transactions, and they are likely getting a large cut of the charge. Appraisers: Feel free to weigh in and share your thoughts in the comments section below.