appraisals: As the Market Recovers, Appraisals Lag Behind - 06/02/12 12:27 PM
Today as I was discussing an appraisal issue with a couple of fellow practioners, I learned that appraisals are suddenly becoming more of an issue.  And, unlike a year ago, it's not really because appraisers that don't know the market place, but more because of the market changes.  A year ago, 6 months ago, we had a lot more distress sales in the market....and the "traditional" sellers had to compete with the distress sales in order to be able to sell.  But for the past 6 months things have been absolutely ROCKING and there has been upward pressure on sales prices... … (1 comments)

appraisals: You Might Not Need A REALTOR IF... Reason #8 - 02/12/10 01:22 PM
You Might Not Need A REALTOR IF.... Reason #8
You Know How To Deal With Low Appraisals
Don't let you're money go down the drain!
Although I briefly mentioned this in prior posts, it is critically important and therefore I am focusing on it as it's OWN separate issue.  Appraisals. Ugh.
Appraisals are a key ingredient in most sales.  While there will be some cash sales out there, even some of those sellers will want an appraisal, especially in a market like this one.  No one wants to overpay for real estate today.  But, the vast majority of buyers will be … (0 comments)

appraisals: Automated Valuation Systems - 11/28/09 11:19 PM
What is an Automated Valuation System? It is a process whereby computers, using proprietary algorithms (aka "secret formulas") provide an estimate of value of your property. 
The first ones used were by localities, and this is where many of your assessed values were derived.
Then, public web sites started offering them. Perhaps you've heard of a "Zestimate"?
Now, even banks are getting in on the action. If you apply for a short sale or a refinance, the bank is likely to, as part of their process, go to their secret, proprietary database and do their own estimate of your property.
Is … (3 comments)

appraisals: Assessments/Appraisals - What's the Difference? - 11/20/08 10:46 PM
There is a difference between "appraisals" and "assessments" although the words are commonly used interchangeably. A educated consumer knows the differences:Assessments
Completed using an automated valuation program. Generally done once per year. Used to determine real estate taxes. Should be within a margin of error of +/- 10%. Appraisals
Done by licensed appraiser who looks at the home, and comps. Values property "real time" (as of the date of the report). Used to support sales prices or loan amounts. Should be as close to Fair Market Value as possible. Fair Market Value is what a willing buyer will pay for a … (1 comments)

Vicky Chrisner (Fieldstone Real Estate) Rainmaker large

Vicky Chrisner

Leesburg, VA

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Fieldstone Real Estate

Address: Loudoun County, VA

Office: (703) 669-3142

Mobile: (703) 728-5766

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A simple little blog to share what I learn with fellow Active Rainers and real estate consumers.




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