What does an appraiser look at?
13 years ago
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- 13 years ago
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Need an appraiser, where to look?
Comments (1)Often the words "reputable appraiser" are an oxymoron. Unless things have changed, to be a "registered appraiser" in California you need simply to pay your dues and join the society....unless things have changed. I would ask an auctioneer a dealer that specializes in estate liquidations. But if what you want is not an appraisal but an identification....then do some research. Post pictures here and other sites on the web, look at Bay to see what they have and how it resembles your vases....and get books out of the librarary. Linda C...See MoreBank help: What is a 442 Appraisal?
Comments (9)We built in the middle of the 2nd real estate bubble in our area 2 years ago (moved in May of '13). Initial appraisal went very well, mortgage lender was happy. It took 14 months to finish the house by then the market had shifted significantly and we were ~100k under the initial appraisal (very rural NW Oregon). It didn't work out great, we have the house but had to come up w/a significant amount of $$ to close. I think the potential for a market shift is always a reality and depending on the time it takes to build it could be significant. If you think about it an initial appraisal is based on the market and what 'will' be built (the potential), I don't know how it can be predictably forecast for market downturns unless there's some fudge w/the initial appraisal. Now if it only takes 90-120 days to build a home, it would probably still be in the ballpark. However over a year or more there's a real chance things will change. In the past (~7-8 years ago) you could probably count on a higher appraisal over a given length of time. I wouldn't count on that these days. All of the above is market dependent, I happen to live in an area that is still trying to recover values from 5-6 years ago. I'm sure yours will go better than mine....See MoreAppraisers...What Are They Actually Looking At These Days?
Comments (2)Here in the Bay Area, the appraisers are strictly following the rules. No more 'judgement' calls about a property being worth more than similar size/#rooms due to exceptional condition; e.g., turnkey. Comps must be within last three months. Our 2009 appraiser admitted our house would probably sell for more than his appraisal price but he had to come in about $100K less. He pulled 6 comps, threw out the highest and lowest. That left 4 recent sales, 3 of which were run-down foreclosures that were in 'average' condition - that means severely in need of remodeling but still livable. We could not get credit for keeping our house in exceptional condition, completely remodeled inside and out, beautifully landscaped. Thank goodness we actually don't need to sell our home; and as we have no mortgage we could afford to finance a buyer. Still, it was an interesting experience and quite a change from the high-flying 2003 appraisal in the past....See MoreDoes this appraisal make sense?
Comments (17)EDIT: Wow, everyone is making A LOT of assumptions here. As I said, I didn't see you mention a quit claim, deed. Also, everyone seems to be seeing this through the lens of "Dad helping his poor helpless wife support their kid". For all we know he's the one caring for the kid and the financial settlement is leaving the kid destitute. More importantly, a financial settlement that is unrealistic is the gift that keeps on giving. It can lead to bitterness or a gaping financial wound that you bleed from forever because you can never quite catch up. Nowadays lots of people seem to want to bypass the lawyers, but I find this tends not to turn out well. Someone ends up getting screwed. It's really best to focus on the numbers on these things and treat them as financial decisions....See More- 13 years ago
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