Understanding the Expiration Date of Your Home Appraisal
How long is a home appraisal good for? On average, home appraisals can be valid for one to six months from the effective date. If you have received an appraisal of your home in the past, there are several ways to determine if it is out of date. Here are some things to look for: […]
Property taxes are based on the following: a home appraiser perspective
Property taxes are based on the following: a home appraiser perspective Property taxes are based on the assessed value of a property. The assessed value is determined by the local government, usually through the county assessor’s office or a similar department, and takes into account factors such as the size and location of the property, […]
Tax Appraisal Value Vs Market Value
Two different concepts used to determine the value of a property and serve different purposes. Tax appraisal values, also known as assessed value, are used by government tax assessors to determine the value of a property for the purpose of calculating property taxes. These values are usually based on a mass appraisal process, which means […]
Challenges with Sales Comparables
When someone is talking about a comp in real estate, they are typically referring to a recent sale or listing of a property that is similar to the property being considered for sale or appraisal. This can be used as a point of reference to help determine the fair market value of the subject property. […]
The Meaning of “comps” in Real Estate
In real estate, “comp” is short for “comparable,” which refers to a property that is similar to another property in terms of location, size, features, and condition. When someone is talking about a “comp” in real estate, they are typically referring to a recent sale or listing of a property that is similar to the […]
What Does FMV mean in the Context of Home and Real Estate Appraisals?
Fair market value is an important concept in real estate appraisals, as it serves as a benchmark for determining the value of a property in various contexts, such as for tax purposes, for mortgage lending, for property insurance, and for estate planning. You’re right to be asking this question. It’s fundamental to the appraisal process, […]
How to Increase Your Home Value: Tips From an Appraiser
Whether you’re planning to sell your home or just want to increase its value for your own enjoyment, there are several steps you can take to boost its worth.
What is ANSI and why is it so important to home appraisals?
Why accurate measurements are important Aside from the site related factors of view, acreage and waterfront, one of if not the biggest factor is the size of the improvements. Finished living area, which includes GLA or gross living area is frequently noted or promoted in listings, appraisals, and in conversations around the watercooler. The […]
What Are The Main Benefits Of Having Equity In Your Home?
Learn why having equity in your home is a wonderful thing, and the many ways you can leverage that equity to make the most of your money. Understanding Home Equity Home equity is the portion of your home that you own outright, or have paid off. It is the difference between the current market value […]
What to Do with Your Home Equity
What is an Equity Mortgage? An equity mortgage is a type of loan that is secured by the equity in your home. It allows you to borrow money using your home as collateral. The amount you can borrow is based on the amount of equity you have in your home. There are two main types […]
