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appraiser

Getting the CMA** ” and the Lender’s Appraisal ” Right: Big Adjustments = Dubious Adjustments

He Who Adjusts Least Adjusts Best” When it comes to pricing a home off of Comp’s (“Comparable Sold Properties”), the trick is to minimize both the number and absolute magnitude of the adjustments. The ideal would be a condo identical to its peers in every respect ” floor plan, size, condition, location, market conditions, etc....
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“Coming Soon?” Try, “Already Here”: Appraisal-by-Algorithm

When Appraisals Don’t Matter (and When They Do) [Editor’s Note:  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] “Federal regulators have proposed loosening real-estate appraisal rules so a majority of homes can...
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Why Homes That Sell in Multiple Offers Should Always Appraise

The REAL Purpose of Appraisals What is the purpose of an appraisal, in the context of a residential real estate sale? To make sure that, if the Buyer defaults on their loan and the lender ultimately forecloses, the value of the collateral is sufficient to make the lender whole. Or, in plain English:  if the...
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How Valuable is Having an Upstairs Laundry?

Calculating Premiums & Discounts in a Comparative Market Analysis (“CMA”) How much value do Realtors and Appraisers assign to an upstairs Laundry when estimating a home’s fair market value? The honest answer is, I’ve never seen it broken out as a specific adjustment, with a corresponding price tag (or even range) assigned to it. My...
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Getting the CMA** — and the Lender’s Appraisal — Right: Big Adjustments = Dubious Adjustments

“He Who Adjusts Least Adjusts Best” When it comes to pricing a home off of Comp’s (“Comparable Sold Properties”), the trick is to minimize both the number and absolute magnitude of the adjustments. The ideal would be a condo identical to its peers in every respect — floor plan, size, condition, location, market conditions, etc....
Read More

Why Homes That Sell in Multiple Offers Should Always Appraise

The REAL Purpose of Appraisals What is the purpose of an appraisal, in the context of a residential real estate sale? To make sure that, if the Buyer defaults on their loan and the lender ultimately forecloses, the value of the collateral is sufficient to make the lender whole. Or, in plain English:  if the...
Read More
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