Using The Principle of Substitution in Real Estate Appraisal

What Does The “Principle of Substitution” Mean When Appraising Properties? The principle of “Substitution” is something that every real estate appraiser considers when establishing the value of a property.  So, what exactly does it entail? Basically, the principle of substitution refers to the following: If there are a number of properties that are equivalent based […] read more

On October 15th, 2018, posted in: Blog and News by

Renovate or Remodel: What’s the Difference?

Many times when buyers purchase older homes they will consider doing some remodeling or some renovating. That said, some people haven’t a clue what the difference is, so let’s take a look. When you renovate a home, you are upgrading some areas but not making complete changes. Possibly replacements of faucets, adding newer, more attractive […] read more

On November 26th, 2016, posted in: Blog and News by

4 Major Factors that Affect a Home’s Resale Value

  If your home is on the market for sale, you will understand how tough it is during this period to make a sale. Ever since the result of the EU referendum in June, the US property market has been erratic. While many lending institutions may have reduced their mortgage rates to balance the effect, […] read more

On October 14th, 2016, posted in: Blog and News by

How Do Appraisers Handle Additions With No Permits?

Non-permitted additions or additions added to a home without proper permits can become a headache for the buyer as well as the appraiser.  Will lenders turn it down because there are different factors that make it difficult?  There are non-permitted additions that do receive financing but only if the appraiser is highly qualified and is […] read more

On June 18th, 2016, posted in: Blog and News by

Newer Homes in Older Subdivisions

You are looking at a new home that is situated in an older neighborhood and are trying to discover it’s value. There are a few things you need to take into consideration to get an idea of this home’s now and future value: Construction Quality: In some cases, newer isn’t always better. There are older […] read more

On March 13th, 2016, posted in: Blog and News by

Questions an Appraiser Cannot Answer

If you have ever had your home appraised, you have probably had a million questions for the appraiser. Most of us will not ask so many questions that we become obnoxious, but ask we will. There are questions the appraiser will be happy to answer, such as what an appraiser looks for during an inspection […] read more

On December 28th, 2015, posted in: Blog and News by

Why Tax Values Cannot Be Relied Upon

I have just a short entry for the blog today, but I want to discuss county tax appraisal values. Many people are under the impression that the value the county appraisal district assigns to your property is “true market value”. Generally speaking, this is not the case. The appraisal districts are only concerned with determining […] read more

On December 11th, 2015, posted in: Blog and News by

I Have a Realtor, Why Get an Appraisal?

There are important reasons you should attain an appraisal even though you have a Realtor: Very Little Sales Information Is Available: If you live in a rather rural area, accurate sales prices on homes can be pretty scant because there aren’t a great deal of sales taking place.  Rural markets are low in activity so […] read more

On October 28th, 2015, posted in: Blog and News by

What Information May a Realtor Give To Appraisers

Where the rules and ethics fall, regarding information given to an appraiser from a realtor, it can become a gray area. There are “may and may not” rules that should be followed in order to produce an impartial appraisal. Agents May Provide Comparables: Realtors may provide their comparable sales information to an appraiser.  In some […] read more

On October 11th, 2015, posted in: Blog and News by
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