The author is the founder of www.EastLiving.com.sg . Having accumulated a wealth of experience in dealing with thousands of private home buyers and sellers, Stuart Chng and his team, has honed their real estate negotiation skills and a thorough understanding of the needs and psychology of home buyers. Sign up for EastLiving’s daily Singapore Property News at http://blog.eastliving.com.sg .
Posts Tagged Appraisal
Real Estate Appraisal (4 Of 6) Quicken Loans Tv, Upstairs And Overview
Posted by james in Real Estate on December 4th, 2009
Quicken Loans TV takes you through a full home appraisal inspection in this informative video – part 4 (upstairs appraisal and an overview of the steps of the appraisal process) of the Quicken Loan…
Real Estate Appraisal â is That the Real One?
Posted by james in Real Estate on November 11th, 2009
The person who performs a real estate appraisal exercise is called the real estate appraiser or property valuation surveyor. The value as determined by real estate appraisal is the fair market value.
The real estate appraisal is done using various methods and the real estate appraisal values the property as different for difference purposes e.g. the real estate appraisal might assign 2 different values to the same property (Improved value and vacant value) and again the same/similar property might be assigned different values in a residential zone and a commercial zone.
However, the value assigned as a result of real estate appraisal might not be the value that a real estate investor would consider when evaluating the property for investment. In fact, a
real estate investor might completely ignore the value that comes out of real estate appraisal process.
A good real estate investor would evaluate the property on the basis of the developments going on in the region. So real estate appraisal as done by a real estate investor would come up with the value that the real estate investor can get out of the property by buying it at a low price and selling it at a much higher price (as in the present).
Similarly, real estate investor could do his own real estate appraisal for the expected value of the property in, say 2 years time or in 5 years time. Again, a real estate investor might conduct his real estate appraisal based on what value he/she can create by investing some amount of money in the property i.e. a real estate investor might decide on buying a dirty/scary kind of property (which no one likes) and get some minor repairs, painting etc done in order to increase the value of the property (the value that the real estate investor would get by selling it in the market).
So, here the meaning of real estate appraisal changes completely (and can be very different from the value that real estate appraiser would come out with if the real estate appraiser conducted a real estate appraisal exercise on the property).
A real estate investor will generally base his investment decision on this real estate appraisal that he does by himself (or gets done through someone). So, can we then term real estate appraisal as a really real âreal estate appraisalâ?
What Is The Difference Between A Real-estate Appraisal On Your Home’s Value And The Tax Appraisal Value?
Posted by james in Real Estate on August 30th, 2009
Currently, I only know the tax appraisal 109K, from the home I am planning to buy.
(Home built in 2006, around 1500 sq)
How much of a difference can I expect from the real estate appraisal? Lower or Higher?
Are homes usually valued around the same as the tax appraisal?
What kind of problems can I face if the appraiser values the home too low or high?
How To Tell How Long A Real Estate Appraisal Is Valid For In Colorado?
Posted by james in Real Estate on August 23rd, 2009
I beleive that appraisal validity duration is specific to individual states, but I can not find any information at the state level to indicate how long a real estate appraisal is good for.
Is Real Estate Appraisal Work Still A Good Career?
Posted by james in Real Estate on August 1st, 2009
I want to get my license to do commercial and residential real estate apprasials, but I am worried about the current real estate market. Is this still a good career to pursue, or is the market really ending for this type of business? How much money do appraisal workers make annually? Thanks for any info!