Market

Using Distressed Sales

Editor’s Note: Appraising in a real estate collapse poses its problems. Seasoned appraiser Matt Cook, provides some guidance. Using Distressed Sales By Matt Cook If you’re having trouble appraising in a market where distressed properties dominate, you’re not alone. Recently, an appraiser stated in a post that the market for a particular residential assignment included… Read More

Defensive Appraising in a Declining Market

Defensive Appraising in a Declining Market By John Lifflander, ASA As market conditions continue to decline, appraising has become more difficult and potentially perilous. Consequently, it has never been more imperative for appraisers to prepare reports in a way that will hold up to meticulous scrutiny. Properties that are selling or being refinanced now may… Read More

Inspector’s E&O Insurance: Market Softens-Prices Drop

Inspector’s E&O Insurance: Market Softens- Prices Drop – $1,250! By David Brauner, Senior Broker OREP (www.orep.org) Instead of the now familiar direction to “shop ‘till you drop,” new insurance conditions suggest instead that inspectors should shop because they’ve dropped. We’re talking about rates for errors and omissions insurance of course. The market is finally softening… Read More

Appraising a Deteriorating Market

Editor’s Note: Appraisers must watch for signs to try to understand market changes. Most are economically fueled, but other factors, such as the desire of families to move away, might be part of the changes as well. Many of the potential signs and factors are covered in this story by Beverly Bayer. Appraising a Deteriorating… Read More

Understanding Your Market

Editor’s note: Expert knowledge of your local market is key to expanding your practice into consulting and review assignments. Many banks and national appraisal firms employ “sub-contracted” independent appraisers for administrative reviews. According to the author, knowing your local market will helps you understand potential factors affecting future sales prices, instead of relying entirely on historic sales. Understanding… Read More

Understanding Residential Construction from the Ground Up

Understanding Residential Construction from the Ground Up Expand Your Knowledge, Gain CE Credit Appraisers who would like to understand residential property “from the ground up” can expand their knowledge of the systems of a home while earning continuing education credit through two courses offered by Mckissock. New HUD guidelines, which expand the role of appraisers… Read More