Gross Living Area (GLA) is the standardized measurement of a home’s finished, heated, above-ground living space, and it’s a critical factor in determining property value. Discrepancies in GLA often arise because public records, tax assessments, and real estate listings can be outdated, inaccurate, or use different measurement standards. A professional appraiser resolves these issues by […]
Written in late 2022 to predict 2023 trends, this article explains that the Federal Reserve’s aggressive interest rate hikes, aimed at curbing inflation, were significantly impacting the real estate market. For buyers, this meant higher monthly mortgage payments and reduced purchasing power, making it harder to qualify for loans. For sellers, while low inventory still
Despite a decade of strong growth from 2011 to 2021, the Boston real estate market is showing signs of a significant slowdown. While the national market boomed due to low interest rates, Boston’s price growth has lagged far behind. The primary cause is a major shift in migration patterns driven by the work-from-home movement: more
Understanding the low home appraisal reasons is crucial for homeowners considering refinancing their mortgages. If you’ve jumped on the refinance bandwagon, you might be surprised to learn that your home’s appraisal could come in lower than expected. With interest rates at record lows, many homeowners are eager to take advantage of refinancing opportunities. However, when
Transitional properties hold immense hidden value for real estate investors and appraisers. These properties, often overlooked or undervalued, have the potential to generate substantial returns when their highest and best use is identified. Understanding the core principles behind transitional properties, including legal, physical, and financial feasibility, is key to maximizing their value. A transitional property
A residential appraisal report provides more than just a single final number; it offers a comprehensive analysis using three key methods to establish a “range of value.” The most important method is the Sales Comparison Approach, where an appraiser adjusts the sale prices of similar properties (“comps”) to account for differences. The Cost Approach (estimating
