appraisals san diego

Defining Market Value

money-2724248_960_720   Value can be defined many ways, understanding how it is defined for the purpose of an appraisal is important. Many appraisals are for loan purposes and the appraiser will define market value with consideration of the Fannie Mae definition. Below are a few ways the market value is defined.

Read More

Multiple Offers

speakers-453475_960_720Multiple offers can occur during the sale of a home when more that one party wants to buy the home. This most often occurs when the housing inventory is low. When multiple parties want to purchase a home it can lead to overbids of the original listed price. This is happening a lot in the market right now because our inventory is low and there are more and more people moving to San Diego every year. The problem is that this can often lead to a very high purchase price, which is hard to support with similar comparables.

 

Read More

Selecting the best comparable sales

home-304190_960_720Our office regularly speaks to real estate agents and homeowners about how the appraisal process works, but one question that almost always comes up is how to select comparable sales.

This seems simple enough to explain however there is a lot that is considered when selecting the best comparable sales. Explaining the aspects of a home to consider when determining which comparables to choose it is helpful for appraisers and agents to have the same understanding of what makes a good comparable so they agent can price the property at a value that is likely to be appraised at.

Read More

Obtaining a Pre-listing Appraisal as Your Pricing Strategy

Home_Business_BLUE_Graphic

Getting a pre-listing appraisal offers more advantages than would a traditional CMA. When you suggest getting a pre-listing appraisal to your seller while making your listing presentation you will explain the following benefits:

1.When the pre-listing appraisal is done you will get the correct square footage of the home. Do you understand how an incorrect square footage measurement would affect the list price? If the measurement is off by just 100 square feet, and the homes in the area are going for $100 a square foot, then the list price will be off by perhaps $10,000. Does this justify paying for an appraisal?

Read More

What Agents Should Consider When Making a Presentation

 

a-buy-me-a-coffee-987096_960_720    When real estate agents conduct their listing presentations they should be able to explain to their client how they intend to price their home. One of the main reasons, if not the top reason, for homes languishing on the market and not selling is that the home is overpriced.

Encouraging your sellers to have their home professionally appraised when you make your listing presentation, you’ll arrive at an accurate listing price with a much better chance of selling the house sooner rather than later.

Read More

Price Per Square Foot May be the Worst Way for an Agent to Price a Home

tape-measure-1186496_960_720

When listing a home do you go by price per square foot?

Agents often ask me “what’s the price per square foot that homes are selling for in this neighborhood?” I know the question is coming but I still can’t stop myself from cringing because on its own, price per square foot doesn’t always give you the most accurate value. This article will discuss why and how agents should look at price per square foot when deciding the listed price for a home.

Read More

Every Agent Should Have an Appraisal as Part of Their Pricing Strategy

san diego finest city

What Agents Should Consider When Making a Presentation

When real estate agents conduct their listing presentations they should be able to explain to their client how they intend to price their home. One of the main reasons, if not the top reason, for homes languishing on the market and not selling is that the home is overpriced.

Encouraging your sellers to have their home professionally appraised when you make your listing presentation, you’ll arrive at an accurate listing price with a much better chance of selling the house sooner rather than later.

A number of negative consequences can result when a home is overpriced. If the home’s price doesn’t reflect fair market value, it may not get many showings. The seller’s excitement for having listed their home will soon turn into frustration if there isn’t any real activity. When a house isn’t being shown, it’s unlikely to sell.

Read More

Top Five Reasons Why Appraisers Take Pictures

 

Photographer

In the past ten years appraisal requirements have significantly changed. One of these changes includes more detailed photos of the property. The appraiser used to include front, rear, and street photos but now there are many more photos required so that the lenders can see and document what the property looks like. Photographs have become increasingly important in the appraisal report so today we will discuss what photos the appraiser is required to include in the report.

Read More

Providing comparables for an appraiser

11477985596_c784fd104c_z

 

Real Estate Agents will often provide appraisers with comparables for their property, but these comparables can often not be used because they are not within the required parameters. Knowing these parameters and providing the appraiser with comparables that meet the requirements will let the appraiser know that you understand what properties are comparable and which are not.

Appraisers are an unbiased third party who is educated and knowledgeable of the market and neighborhood he is appraising. He is hired to provide an honest unbiased opinion of market value for a property. All other parties involved have a vested interest in what the value of the home is and therefore sometimes the appraiser has to determine if the comparables he is provided are truly the best comparables or just the highest priced sales in the neighborhood.

Read More

What should you look for to find the best appraiser in San Diego, CA?

find

 

Finding the best qualified appraisers can be difficult, there are hundreds of appraisers in San Diego, how do you determine which appraiser to select for your appraisal needs? I do not have a list of appraisers to choose from in San Diego, however I do have specific criteria that you should look for when selecting an appraiser.

Read More