Soon, a part time job! Recently, the appraisal threshold for residential properties – those with 1 -4 units – was proposed to be increased from $250,000 to $400,000. That proposal will likely find solid ground. According to an article published in Valuation: Insights and Perspectives for Real Estate Appraisers, this change would increase the share…
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The main difference between a residential real estate appraiser and a commercial real estate appraiser is the property type in which the appraiser is LICENSED and COMPETENT to appraise. When in doubt, hire a Certified General Real Estate Appraiser who will perform the appraisal or refer you to a competent residential appraiser. In summary, there are 3…
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An appraiser, per the definition of The Dictionary of Real Estate Appraisal 5th Edition, is “One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective” while an appraisal is “the act or process of developing an opinion of value.” Real estate appraisers fall into two categories,…
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Will my appraisal affect my assessment? Will my appraisal affect my assessed value? Will my appraisal affect my taxes? These are three most common questions that we receive and the short answer to these questions is a likely “no” while the long answer may be a “yes”. It all depends upon where that appraisal goes,…
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