What I’ve always loved about working in the appraisal 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 in my community of Massachusetts. Part of the reason we write this blog […]
What position do you want to be in when you exit your commercial real estate investments? If you put these 7 income and value boosting strategies to work, you’ll be on your way to a profitable project conclusion. The essential avenues to improve value include increasing demand, boosting income, lowering expenses, and reducing risk. The
For fix n’ flip investors, private lenders, credit unions, hard money lenders, and small lending institutions, it’s important to consider Days on Market (DOM). The number of days a property took to sell (or the number of days it has currently been on the market) can help us understand how the property performed and whether
Choosing comps for your property isn’t as complicated as it looks. In fact, you probably already have some experience with this. As professional appraisers, we just want to offer our take on the process and hope it is of value to you in selling your home. What’s a Comp? Comps, or comparables, are properties that
When you’re preparing a valuation either as an appraiser, agent, or investor, you need to understand how neighboring properties affect the value of your subject, as well as how your subject impacts the value of properties in the neighborhood. The best investment results, either as a business or homeowner, require careful due diligence to gather
When you need an appraisal, you need it fast. There are very few instances where there’s lots of time to wait for a report. The speed and gravity of the real estate closing and investment analysis process demand prompt reports that feature intensive detail, accurate adjustments, and solid reconciliations. As valuations play a critical role
Probably the most common issue we hear with appraisals is the amount and type of adjustments. Homeowners, agents, and lenders alike tend to question reports and ask questions about the amount of adjustments. Condition, location, closing/contract date, and features are given a lot of attention for the amount of adjustments. If you’re involved with the
One of the toughest things in the process of buying a property for investment is determining how much the property is worth now and what it could be valued at if fully repaired for lease or resale. Which is more difficult to determine, as-is or as-repaired (also called ARV or After Repair Value)? You might
Adjusting for condition isn’t something that most appraisers love to do as it involves a significant amount of research to make an accurate estimate of the difference in value due to the condition of physical improvements. The income approach to valuations is a relatively simple method that calculates the value of a property based on
Choosing an appraisal firm to handle your sensitive commercial and residential valuation needs in Massachusetts is an important decision. When considering lending money, or working with a third-party that will rely on your appraisal, it’s critical to ensure that the valuation is accurate, credible, and reliable. A faulty or biased report has the potential to
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