comparable analysis: What Do You Do When There Are No Comparable Sales? - 07/19/11 01:34 PM
So what do you do when you have a unique property or a home that is located in an area where there has been no sales, or very limited ones that have taken place?
Playing ostrich with your head buried in the sand and pretending you don't see the problem or better yet it will simply disappear will not get the task before you accomplished.

It begins with the end in mind as the saying goes ... when you first visit the home and then work on an analysis red flags will wave.  At that moment, as … (21 comments)

comparable analysis: Hey Appraiser, How Much Value Should I Give for a Pool? - 04/21/09 11:39 AM
A question I get at least once a week.  A huge pat on the back for thinking in terms of adjustments and not a price per foot.  To properly answer this question I would need to ask additional questions.
What price range home? Describe the pool, is it a gunite, diving, play pool, have a spa? Age of the pool? Condition of the pool? Features (water fall, fountain, etc.) Construction ... does it have stone surrounds, aggregate decking, etc.? Is the pool over built or under built for the price level? The answer is not a simple one and Realtors need … (15 comments)

comparable analysis: Need to Explain How You Did a Market Analysis - It's Easy! - 04/01/09 11:38 PM
Ever at a loss of how to explain in simple terms the valuation of a home?  You have prepared an analysis of a property value for your clients and now are visiting with them with blank stares across the room.  Maybe that electrical engineer is quizzing you and they just can't quite grasp how you derived at you range or recommendation.
Task made easy ... give them a visual image.  Explain that you have thoughtfully prepared an analysis that mirrors what the buyers in a market are willing to pay for a home.  Take them through these steps to stir them … (14 comments)

comparable analysis: Will a Foreclosure Sale Bring My Home Value Down? - 03/06/09 01:12 PM

A question that I am asked several times a week from my fellow Realtor friends and sellers.  The answer -Yes or could be No.  Seems like a safe on the fence answer but to answer the question there are clarification questions that need to be addressed.  I am a certified appraiser so by nature I have to get a more in depth picture of what is going on around the home in question.
•1.   Are you located in a neighborhood that has several homes that has been foreclosed on?
•2.   Do you have a lot of homes in your area/neighborhood … (6 comments)