How Does a San Diego Appraiser Select Comparable Sales for an Appraisal?
A common question appraisers are asked is how they select comparable sales for an appraisal. Comparables are properties used in the appraisal to compare to the subject and help determine the appraised value. Homeowners and realtors can often be confused as to how the appraiser selects these properties and why some properties are not selected to use in the appraisal. There are three major factors that help determine which comparables the appraiser selects, these factors are how current the sale or listing are, the distance from the subject, and the similarities in amenities.
When choosing an appraiser in San Diego it is important to select someone that is experienced, educated, and familiar with the market. Appraisers experience can vary depending on what types of homes they have inspected, areas they have appraised, how much education they have completed, and how long they have been an appraiser.
Baby boomers are going to be reaching retirement soon and many of of them will be inheriting assets given to them through an estate. These many billions of dollars that are being inherited will need a professional Real Estate appraisal valuation. Some of the assets or “illiquid assets” include real estate which will require a Fair Market Value Appraisal. A specialized estate appraisal is responsible for determining the fair market value of the property in the estate. Read More
As the new year begins you may be interested in some of the trends occurring in the housing market and we would like to help you improve your knowledge about today’s market. Below are the statistics of 2014 that NSDCAR found using Sandicor. Per the NSDCAR HomeDex North County Summary Report for January 2014 for Single-Family Home Prices:
- The median price for all homes in North San Diego County- single family detached and single family attached-declined from $478,500 in December 2013, to $475,000 in January 2014. Read More
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In order to increase the value of a home many homeowners selling their property overspend on upgrades. It is important to know that just because you put $40,000 worth of upgrades in your home, does not mean that your home is worth $40,000 more. As a seller you want to make improvements that will reflect in the sale and appraisal price, to do this you need to know what will add the most value to your home. We have put together a list of things that appraisers in San Diego look for in a home that increase and decrease the value of homes. Read More
FHA appraisals are designed to provide safe housing, therefore there are specific things that an FHA appraiser must inspect to meet the FHA guidelines. Due to these guidelines you can encounter many different issues during FHA appraisal inspection, some issues seem to appear more frequently than others, these are issues San Diego homeowners should be aware of when pursuing an FHA loan as any of these items could delay or cause problems for your transaction. It is helpful to be proactive by correcting any of the potential problems that may occur before the FHA appraisal inspection. Read More
Most appraisals require a carbon monoxide detector to be installed at the time of the appraisal, however many people have only heard of carbon monoxide or CO2, but not everyone actually know what it really is. Carbon monoxide is a colorless, unscented, and flavorless gas which is produced whenever a fuel source is burned. The fuel sources include kerosene, oil, gas wood fires, and charcoal. The most common sources of carbon monoxide in homes are the malfunction of items such as gas furnaces, gas stoves, water heaters, and dryer. Read More