Market Value in Appraisal is crucial for understanding the worth of a property. Real estate appraisals serve various purposes, including selling, buying, refinancing, or settling an estate. However, the most common goal of an appraisal is to establish the market value of a property. Real estate appraisals can be used to serve a wide range […]
Income property appraisal is a critical process for investors looking to make informed decisions in today’s real estate market. Given the growth and gradual stabilization of values as we approach the peak of the market, evaluating the equity position in our portfolios has never been more important. This post will explore how appraisal plays a
Comparable Sales Analysis forms the foundation of property appraisals, offering a structured approach to valuing properties based on market data. Appraisals express value as the monetary relationship between properties and those who buy, sell or use those properties, as defined by the Uniform Standards of Professional Practice(USPAP). Fundamental to appraisal practice is the idea of
Boston Just Cause Eviction proposals have been at the center of debates since 2015, with implications for tenants, landlords, and the city’s real estate market. These legislative efforts aim to extend renters’ rights while balancing the concerns of property owners. Since 2015, legislative officials of Boston have been developing legislation concerning residential evictions in the
Appraisers frequently have their work reviewed, especially when an appraisal’s intended use is for financing. Reviewing appraisals is routinely part of the job description for appraisers employed by lending institutions. But the scope of work for review assignments varies significantly, and sometimes reviews are performed by non-appraisers. Both appraisers and their clients need to clearly
Land value analysis is an essential skill for appraisers, especially in scenarios where the sales comparison approach is hampered by a lack of truly comparable properties. While many residential appraisals don’t require the cost approach, there are cases where separate value opinions for land and improvements are necessary. Experienced appraisers recognize that some improved property
Property appraisal differences often occur when two appraisers analyze the same property but arrive at varying value conclusions. These differences can confuse appraisal users, but understanding the factors behind them can help determine which value estimate is more reliable. Appraisals of the same property by different appraisers are rarely the same. Differing value opinions are
Eminent domain in Massachusetts is a critical legal process where the government can take private property for public projects. Governed by both federal and state laws, this process requires offering property owners fair compensation. Appraisers play a vital role in valuing properties and ensuring just compensation during eminent domain proceedings. What is the process when
Short-term rentals are reshaping the real estate market, but new regulations and appraisal challenges are key factors appraisers must navigate. Platforms like Airbnb and VRBO have introduced alternative rental models, creating opportunities and complexities for property owners and appraisers alike The digital age has disrupted many traditional businesses. Ridesharing has upset the taxi business; online
Low appraisals can disrupt real estate transactions, affecting buyers, sellers, and agents alike. Understanding the factors behind a low appraisal and the perspectives of those involved is crucial to navigating these challenges. Agents, investors, property owners and anyone riding on the results of an appraisal want the value to come out the way they expect,