Birmingham, AL real estate appraiser Tom Horn discusses why agents should not totally rely on price per square foot when pricing a home.| Birmingham Appraisal Blog
Have you heard a real estate agent use the word “comps” and wondered what they meant? Understanding a real estate comp will probably be foreign if you are not in the industry. Comps in real estate are comparable sales. Real Estate comps are used to compare and determine the fair market value of a property. Without appropriate comparisons, determining a home's value is far more challenging. Real estate agents and appraisers use comparable sales to assist buyers and sellers in understanding...| Maximum Real Estate Exposure
Birmingham home appraiser Tom Horn gives 11 tips to real estate agents when choosing comps.| Birmingham Appraisal Blog
Appraiser Tom Horn explains how to read and understand a residential real estate appraisal form. From the subject property to the comps he'll show you where it's at and helps you make sense of it.| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn explains why price per square foot should not be the main criteria when estimating the value of a home.| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn explains how appraisers reconcile value and why they choose the part of the value range they do.| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn discusses what a listing agent can do to be proactive in the appraisal process.| Birmingham Appraisal Blog
Birmingham, Alabama appraiser Tom Horn discusses what the CMA is and why agents should share it with the appraiser.| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn answers the question: What Is A Comparable? Find out what criteria appraisers use to choose comps.| Birmingham Appraisal Blog
You may ask “what is the difference?” A sale is a comparable (comp), right? Wrong! A comp is a sale, but a sale is not always a comp. Does this sound confusing? If so, stay with me and I will try to explain the difference between the two. I hope I can give you better […]| Birmingham Appraisal Blog
This is a question I hear all of the time. It seems like such a simple question but the implementation of various laws several years ago has confused real estate agents about whether they are allowed to provide sales comparables to the appraiser. Many believe they cannot even communicate with the appraiser, but this is […]| Birmingham Appraisal Blog
Birmingham, AL home appraiser Tom Horn discusses what outlier sales are and why they should not be used in home pricing.| Birmingham Appraisal Blog
Many people know what an appraisal is, and they’ve heard of a CMA (Comparative Market Analysis) and a BPO (Broker Price Opinion) but they don’t know the difference. Today I thought I would compare these 3 methods used to estimate the value of a property. Comparative Market Analysis (CMA)- The CMA is performed by real estate […]| Birmingham Appraisal Blog
Birmingham, AL home appraiser Tom Horn discusses the top reasons your appraisal came in low and how to prevent it.| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn shares some appraisal tips with agents to help the loan closing go smoother.| Birmingham Appraisal Blog
After looking over a weeks worth of real estate sales data I have found a trend in some market areas. That trend is the increasing gap between what a house was initially listed at and the final sales price. This is one of the statistics appraiser’s look at, and this week in one area I […]| Birmingham Appraisal Blog
1. It costs too much money- Really? If you think about the fact that by pricing the home correctly you could cut the marketing time down and reduce marketing costs, this becomes a no brainer. In addition, the modest cost would probably not exceed future price reductions that you may need because it was priced […]| Birmingham Appraisal Blog
A few days ago I had a real estate agent friend ask me how much homes were appraising for per square foot in a local neighborhood. It was a very good question, especially for anyone who wants to get an idea of their home’s value. And because I get asked this question a lot I […]| Birmingham Appraisal Blog
Over the past several years appraisers and real estate agents have had a confusing relationship. When I say this I am mainly talking about an agents understanding of exactly what they can and cannot talk to an appraiser about. I thought I would approach this topic from a qualifications point of view and look at […]| Birmingham Appraisal Blog
On January 18th a new law went into effect that could potentially prolong loan closing dates because it will require lenders to provide a copy of the appraisal or other valuation tool used to make a loan decision to their customer as soon as it is completed or 3 days prior to the closing, whichever […]| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn discusses what qualitative analysis is and how agents can use it to price their listings.| Birmingham Appraisal Blog
It seems there is still some confusion about what real estate agents and real estate appraisers can talk about. Many believe that there can be no discussion between the two and others still have no idea that it is unethical to suggest to an appraiser that a home should appraise for a certain amount. The […]| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn provides solutions to common appraisal mistakes new agents make.| Birmingham Appraisal Blog
I had a reader email me a question last week asking why they should get an appraisal on their home, and I want to share with you the answer I gave them with the hope that it can help you make a similar decision. This person asked me “Why do I need to get an […]| Birmingham Appraisal Blog
Birmingham, AL home appraiser Tom Horn discusses the law of diminishing returns and how agents should consider it when pricing their listings.| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn discusses the trend in the size of new homes and its impact on value.| Birmingham Appraisal Blog