Cost approach in real estate appraisal is a critical method for determining property value. As part of standard practice, most commercial lenders require all three valuation methods—sales comparison approach, income approach, and cost approach—to be considered during an appraisal. However, this method is sometimes deemed unnecessary, sparking debates between lenders and appraisers. This article explores […]
Market Analysis in appraisals plays a pivotal role in determining property value. This essential section of an appraisal report not only influences a property’s value but also provides priceless insights into financial feasibility. Many readers tend to skip the Market Analysis and focus solely on the value estimate, missing critical data that could benefit owners,
Commercial real estate sustainability is essential for maximizing returns on your next development, renovation, or management project. By implementing sustainable strategies, you can enhance property value while benefiting human health and the environment. If you’re planning your next development, considering strategies for an upcoming renovation, or managing an existing build, how can you maximize the
Managing Probate Transactions carries with it a special responsibility to conduct thoughtfully and diligently. Both the families and professionals involved in the probate process deserve respect and genuine care. In this guide, we’ll discuss important considerations for handling probate cases, particularly for real estate professionals and others involved in the process. Probate transactions carry with
Quick closings are essential in the lending business, as everyone involved appreciates a fast and efficient process. When transactions move smoothly, stress and uncertainty are minimized, leading to successful outcomes for clients and professionals alike. Here are a few strategies to help you achieve quick closings and ensure a seamless transaction. This is a central
Prepare Your Home for Fall Inspections: Essential Tips for Sellers and Buyers to ensure a smooth and successful transaction this season. With fall being a busy time for home sales, it’s vital to tackle inspections early and effectively. Whether you’re selling or buying, these tips will help you avoid delays and achieve the best results.
If you live in Boston, or nearly any part of Massachusetts, you may qualify for Tax Abatements and Exemptions through the residential property tax exemption. The abatement program can save you up to $3,610.53 (the max exemption amount from last year) on your annual property tax assessment. With the increasing cost of living and rising
Refinance volume decline is sparking major concerns across the mortgage industry. With a year-over-year drop of 18% in overall mortgage volume and a 39% decline in refinances, the industry is grappling with the effects of rising interest rates, limited housing inventory, and market saturation. While there was a slight rebound in September, the long-term trend
Accurate real estate appraisals are critical for reducing lending risk and ensuring confident decision-making. By obtaining reliable property valuations, lenders can mitigate potential claims due to faulty reports and navigate complex transactions more effectively. The entire point of ordering an appraisal is to be more certain of the value of a property. It makes sense
The real estate appraisal process is a crucial step in determining accurate property valuations. What I’ve always loved about working in this field is the opportunity to get out into the community daily. Being immersed in the local real estate market has helped me develop a keen insight into the economic factors that influence properties
