We gathered some of the latest in appraisal news and put it in one place for your reading pleasure. Here’s what’s on tap. How a slower market can be distracting, the value of an extra bedroom, whether reliability is a desirable goal, and whether or not appraisers are overreporting. And just for fun: a look at some imaginative garage door makeovers that may or may not improve a home’s value.
Fanny packs, pendings, and a slower market
Sacramento appraiser Ryan Lundquist gets creative with analogies in this article about getting distracted by a higher-priced listing when other properties in the neighborhood are not going under contract that high. His take is that it’s “like seeing one guy wearing a fanny pack and calling it a trend.” Don’t miss the conversation that occurs afterward.
How much value does that extra bedroom add?
The author of this article uses simple linear regression to estimate the value of an additional bedroom—and takes a bit of heat for it in the comment section.
Reliability: a desirable goal?
This article in Appraisal Buzz ponders the reasons appraisers should not provide a reliability score, suggesting that getting an objective output from subjective input is the issue.
Why do appraisers keep overreporting…?
Are appraisers overcompensating with comps that aren’t really comparable? This article says yes.
16 times homeowners got overly creative with their garage doors
Garage doors aren’t usually all that exciting, although they can impact resale value of a property. These homeowners took renovations to an entirely new level with these imaginative—and sometimes questionable—designs.