This week’s appraisal news includes an article that outlines what exactly makes a comparable a good one, how vintage features in a home can be appraised accurately, the specifics about consumer optimism over their home’s value, and more.
What makes for good sales comparables?
Comparables are an integral part of determining the value of a home. But what are some of the characteristics of a good comp? How can real estate agents determine what is similar enough to be used for the sake of comparison?
How do you get an appraiser to value vintage features?
Accurately appraising a home with vintage features can be tricky. Sacramento appraiser Ryan Lundquist goes over the points that appraisers need to keep in mind when determining valuation.
Quicken Loans study shows consumers continue to be too optimistic with anticipated home value
Although home values have increased, most consumers believe their homes are worth more than the appraisal would indicate. Further, the Home Price Perception Index shows a lack of valuation understanding by homeowners. Find out the specifics in this article.
Statistics, lies, and other redundancies
With skyrocketing home prices in most areas of the countries, appraisers have had to make adjustments to valuations. But even if home values in a particular area rose 15 percent, that doesn’t mean the appraised value is adjusted by that same percentage. It comes down to statistics—and this article outlines them.
1800s estate proves history is anything but drab—house of the week
From the no-comps-available file, this 1800s estate is an amalgam of old and new. Flamingo-pink walls and tree-print wallpaper are just two of the unique styles featured in this one-of-a-kind home. The pictures included in the article highlight many of its distinct features.