Most people have a good idea of what market value is. A short and abbreviated definition of Market Value is as follows: Market value is the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, […]| Birmingham Appraisal Blog
I've written about this in the past but thought I would mention it again because I have received a couple of calls within the past month from loan officers not happy with the appraisals they have received. In both situations, out of town appraisers were used.| Birmingham Appraisal Blog
If you’re getting an FHA loan and want to make sure the appraisal goes off without a hitch make sure you pay attention to these 5 items. If you don’t then it could delay the loan and your closing. The appraiser has to make note of the items listed below, and if he/she cannot then […]| Birmingham Appraisal Blog
In my adventures as a real estate appraiser in Birmingham, Alabama I have seen a lot of things that decrease the value of your home. I thought I would share with you 5 problems I have seen recently so that you can avoid these value killers. Moisture stains on your ceiling is a good sign […]| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn discusses why appraisal waivers may not be a good choice for homebuyers.| 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
Have you ever asked yourself why appraisers make adjustments? It’s not something you think about everyday, but whenever you get an appraisal back from the appraiser or the bank, it’s something you may think about and that may make you scratch your head. Why did they make a positive adjustment for this, and a negative […]| 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
I recently had the opportunity to participate in the 2014 Alabama Realtors Winter Conference. I was part of a panel, along with commercial appraiser Mark Barrs (that’s he and I in the photo), that was put together to answer appraisal related questions that agents might have. It went well and I appreciated the chance to […]| Birmingham Appraisal Blog
Birmingham, AL real estate appraiser Tom Horn discusses the 5 Items An Appraiser Looks For In An MLS Listing to help in estimating value.| 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
With the new year here many of us have either set goals or will be setting them soon. One of my goals this year is to help others reach their real estate goals by helping them to understand the appraisal process better. This can be either through learning how appraisals are performed, which in turn […]| Birmingham Appraisal Blog
I was asked a question this week about what qualifies as “finished” basement area in a home. An agent was going to list a home and the basement area had some partitioned sheetrock walls in the basement. The homeowner wanted to count this as finished area, so the agent wanted to get clarification on how […]| Birmingham Appraisal Blog
I spoke recently at a local Realtor group about how Realtors could “think like an appraiser”. By being on the same page as the appraiser I believe that there will be fewer value issues on the back end of the sales transaction. By following similar methods as appraisers to arrive at their list prices, Realtors […]| Birmingham Appraisal Blog