According to Forbes, having solar panels is supposed to add 4% to the value of your home. However, real estate agents (nj) have said it doesn’t add any value if owned, and it complicates the sale or makes it negative if it’s been funded by a PPA or leased. What have people actually experienced?
Is it worth buying a fire damaged house on auction for the purposes of BRR? Has anyone done it before and can suggest if it was worth it and any unusual pitfalls to look out for
I wanted to see other opinions on this. If a house is 20 years old and is in average condition for its age (compared to other properties around it), what would you put the effective age as?
i've been diving into the real estate appraisal process lately, and it's pretty fascinating. it seems like there are so many factors that can influence a property's value. from location to condition and even recent sales in the area, every little detail plays a part. i'm curious, for those of you who work in this field or have gone through the process, what are some common misconceptions people have about appraisals? also, any tips for homeowners to prepare for an appraisal would be super helpful!
I’m about finished with my schooling to get my appraiser license.. goal is to be certified of course. Already have a mentor that will get me my training hours
My question is, is this a job field where I could essentially work like 20-30 hours a week? Or is it full time or nothing?
I’m only looking to make around 20-30k my first few years then maybe scale up once I have a better handle on things. I have another part time job that gives my entire family free insurance and pays decent so I can’t/don’t want to leave.
Bonus question.. I know online is always doom and gloom but, is this a good field to get into? I’m not relying on the income of the job.. just want to set myself up to do it in the future.
Is it just me or am I just seeing more crap files coming through? High purchase assignments, oddball properties, fha refinances with no equity, etc. The only thing holding me up right now are new construction assignments.
Half the refis completed in the past few weeks came with ROVs.
Hi Everyone,
I am a General Partner on a propject in the California, BayArea. Currently working through a buyout and looking for recommendations for top-tier MAI appraisers with experience in:
Project is roughly:
Need someone credible, sophisticated, and defensible if the valuation later gets scrutinized by investors, lenders, attorneys.
Would appreciate names of individual appraisers or firms people have had strong experiences with.
Appreciate your feedback in advance
Run an appraisal management company. Lenders require us to confirm every appraiser’s license is active + in good standing before assignment. We manage 800 appraisers in 22 states. Compliance team is 2 people. We missed a suspended appraiser last quarter and the loan got flagged. Need bulk automation.
Is joining the appraisal institute as an affiliate member worth it if you are trying to diversify your practice and possibly do commercial appraising?What about as a Candidate member ? I have read some people stating that an SRA is no longer completely needed, but it sounds like it could be useful if you wanted to take on more complex assignments or go into litigation appraising.
Hi guys,
I understand that trainee's are able to log practice hours up to 50% of their hourly requirement in my state. Is there a online course or something I can start logging those hours on when I have free time?
I am applying to trainee roles, but I'm unsure about pay ranges for a trainee on yhe CG track. Is it reasonable to earn 70k/yr as a trainee working 40 hrs a week?
Trying to make an offer on a home, using a mortage with extra funds for renovation. How likely is this to pass appraisal? We understand the costs and risks of repair.
I moved to a new market area recently and have found that the MLS in my new area has basically no rental listings posted in it.
Do yall have any suggestions for alternative rental comp sourcing in IL?
The job I was bitching about yesterday finally got sent over to the lender this morning. One of my comps had a large ($72,000) seller concession noted on the listing. I had contacted all three agents (LA, Co LA and BA, days ago to ask about it. Per usual, never heard back. So I put a comment in the appraisal that no info was provided to me regarding this, figuring there was something that came up in inspections. Anyhow, the co LA just calls me and gave excuse after excuse before telling me that was NOT a concession, but the amount of the commission paid by the seller. WTF. Apparently, agents selling multi-million dollar estates are just as shitty as ones selling your average $300,000 sf home.
Asking for a friend.
Would arguing that an arbitrary 'area' border drawn up decades ago no longer holds weight with buyers in the market stand?
I’ll admit up front that im a loan officer and got a lower than expected value on a FHA refi. usually, I’ll submit a ROV just to say i did it and act shocked when there’s no change. But in this case, I grew up nearby and know the area quite well. FWIW, buyer bought for 700k in 2023 and todays value was 710k - a 1.4% appreciation rate.
The subject sits in the northeasternmost fringe of an MLS area. I. have a feeling that the appraiser simply selected the MLS area from the drop down, and didnt search by distance. There was a sale that closed days before the inspection that was nearly identical in size, style, etc, and as the crow flies, just a few blocks to the east, but its in a different MLS area. While I cant/shouldnt accuse the appraiser of doing this, thats just my hunch.
Hi everyone. We just purchased a new home and I’m trying to figure out the history. The deed shows a plat was recorded in 1976, neighbor says the house was built in 1978, public records show an effective year built of 1985, and built year of 1998. All MLS listings show 1998 as the year built. Online public records show no building permits for the property.
We are just trying to understand what would have led to all of these dates being so different. Any insight would be greatly appreciated!
What do you think about this video and DM
I’ve been approach by a few different DOI branches about preforming complex appraisals in remote and rural locations. I have experience appraising BIA land, but this would include places like Alaska, NM, and similar areas. For those that do these crazy complex jobs, is it worth it? Can you actually get fees large enough to cover the travel and level of research needed to gain competency in these different states? I’m a newer CG and connected with two local-ish CGs who’s made their entire careers BIA work. They’ve really encouraged me to go this route, but I’m wanting some outside opinions. I’ve always been told to find a niche and this one has sort of landed in my lap.
Backstory. I work for my dad. Got my certification this year. So I signed up with 5 amcs that send me a ton of work. Recently my dad did an appraisal on this property. And now the same amc sent me the appraisal. I didnt accept it within their time period. Now im having another amc send me the same appraisal? Im really confused what they are thinking, I guess they are trying to triangulation the value? The home appraised and 500k and I know the value would change on my appraisal, measurements would all be the same unless something materially changed of the property? Which i dont think is possible considering the situation (older borrower, disabled, completed appraisal approx. 3 weeks ago)