Grow your appraisal and real estate career with tips, trends and other insights.
This week we explore spring housing market trends, an exciting event for appraisers, and an interesting report on value opinions. 2018 home prices continue to rise, in part due to low inventory. Home value opinions from appraisers and homeowners are moving closer and closer…
Interested in buying a rental property? Before you buy, you’ll want to determine the property’s investment value to make sure you’re paying the right price. The “cash on cash” valuation method is a pretty reliable way to do this. Many experienced investors have a…
The Bureau of Labor Statistics projects that job growth for appraisers between 2016–2026 will be 14%, which is faster than average for all occupations. Demand for property appraisers is linked to the real estate market, which can fluctuate in the short term. Over the…
While some real estate agents have adjusted to new real estate technology, others trail behind. This creates a chasm in service, availability, and efficacy between those choosing to embrace the latest technologies and others holding fast to providing traditional services without any alterations. As homebuyers…
For decades, homes in the U.S. have been getting bigger and bigger. The average size of a single-family home in 1978 was 1,780 square feet. That grew to 2,662 square feet in 2013—even while the size of the American family has gotten smaller. In…
Cap rate is one of those things you hear all the time in the marketplace, but many people don’t know exactly what it means. What is cap rate? It refers to the capitalization rate and is the net operating income divided by the cost.…
The three recognized approaches to developing an opinion of value include: cost, sales comparison, and income capitalization. Sadly, the income approach to value gets the least attention from productive residential appraisers. Many have a boilerplate excuse either copied from someone else or written to…
Read: What $1 million buys in real estate worldwide It seems like it wasn’t long ago that putting $1 million into a piece of property could guarantee you’d live in the lap of luxury. Nowadays buyers get comparatively less for their dollar. Next time…
Read on for the latest in this week’s appraisal news. A recent Senate vote on Dodd-Frank might have ramifications for the appraisal profession. Why it’s not an appraiser’s responsibility to help homeowners who are disappointed in their home’s valuations. Have we reached the point…
A real estate professional who is helping a client with inheriting real estate should provide advice on how to determine the value of the property and how to dispose of it promptly—so that the process will run as smoothly and quickly as possible.
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