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When Is The Best Time To Order A Pre-Listing Appraisal?

3/10/2021

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By Tom Horn on Mar 09, 2021 
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Seven things to watch in real estate during a pandemic

4/14/2020

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April 14, 2020 By Ryan Lundquist

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Common Questions Agents Ask The Appraiser

8/15/2019

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By Tom Horn on Aug 15, 2019 07:49 am

​Confused About Appraisals? Check Out These 11 Common Questions Agents Ask The Appraiser

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​This week I thought I would take a look at some of the questions I get asked by real estate agents. I hope that the answers that I have included here will help other agents as well. If you have a question that is not here please let me know and I would be glad to answer it for you.  Read More...
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5 Things to consider when pricing your home in the current market

4/6/2017

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​Pricing your home in the current market
By Tom Horn ​

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Pricing your home in the current market When we talk about pricing your home in the current real estate market what should we really be looking at? There are some basic indicators that we have to consider when discussing how healthy the Birmingham housing market is. These indicators include the following: Number of homes sold, Average/median sales price, Days on market, Total inventory, and Months of supply. Read More...

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Price per square foot is not the holy grail of property value

10/24/2016

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 By Tom Horn ​
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​Price per square foot is media darling of value

While scanning the news headlines this week I ran across an article titled “What Is the Average Price per Square Foot for a Home — and Why Does It Matter?”Because I am an appraiser this caught my eye for various reasons.
The article pointed out that you can use the average price per square foot of the sales in the neighborhood to gauge whether you are getting a good deal when buying a house. I have a problem with this because it places too much emphasis on a stat that does not tell the whole story of a property’s value.  Read more...
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Why a property’s previous sale can really matter for an appraisal

7/6/2016

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Ryan Lundquist
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Paying close attention to a property’s previous sale can be a big deal. I know it’s tempting to say value is all about the current market, but sometimes looking at the past can help us understand the present. Here are some reasons why I pay attention to previous sales. Any thoughts?

5 things to consider about a property’s previous sale:  READ MORE...

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How long does it take to complete an appraisal?

6/21/2016

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By Tom Horn

Time to complete an appraisal can varyThe most common question I get after leaving a home on an appraisal assignment is about how long it will take to complete an appraisal and get the report back. This is understandable since the owner or buyer is nervous and might worry that their house may not appraise for what they think it should.  The length of time it takes to complete an appraisal will vary depending on many factors which we’re going to discuss today.  Read more...

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How appraisers reconcile value

4/8/2016

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​Curious about how appraisers reconcile value?

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April 5, 2016 By Tom Horn 

After completing a pre listing appraisal assignment recently the homeowner asked me a question. He was interested in how I came up with the value I did given the range that the sales provided.
Being able to explain the appraisal process to help inform and educate the public is one skill that they don’t tell you about when taking your basic appraisal courses.  Over the years this is a part of my job that I have come to enjoy.

I explained to him how appraisers reconcile value and the many factors that are taken into consideration. Today I’m going to share with you what I told him about everything that goes into reconciling a final opinion of value.  Read More...

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Paying attention to the mood of the market

2/17/2016

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February 16, 2016 By Ryan Lundquist

The other day a home owner was upset because he thought his appraisal came in too low. Yes, he was hung up on price per sq ft, which was a big issue, but most of all he believed the home should have been worth way more since there were almost no other homes listed for sale on the market. His thought was, “There’s no inventory, so I’m going to command top dollar.” After all, isn’t real estate about supply and demand? Well, yes. But there’s so much more.​  
Read More...

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How much value do higher ceilings add to a home?

1/25/2016

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​January 25, 2016 By Ryan Lundquist 
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Would you pay more for a house with higher ceilings? I probably would, but I guess it depends. The ceilings in my home are a standard 8 ft. Would I have paid more if they were 9 ft? Probably. But what about 23 ft? No, that would be too high.
Someone asked me a question recently about the value difference of ceiling height, and I thought kicking around some ideas here could open up a great discussion. Anything else you’d like to add? I’d love to hear your take.  READ MORE...
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