Real Estate Information |
|
A Difference Between Appraisal, Assessment, Home Inspection
Every one should have a home inspection before purchasing any property, including new construction. You may think that's rediculous but there are too many cases that prove otherwise. It is only a couple of hundred dollars and can save you thousands. Most importantly it makes you feel confident about the house. Remember the horror stories you saw on the local and national news about all the new construction problems? One is leaks which leads to the dreaded word mold, a whole problem in itself. The stories go on and on. Recently a buider filled a dump and built houses on it. Needless to say, when things settle underground, they do above it. The houses were collapsing and the EPA (Environmental Protection Agency) found barrels of some kind of petroleum substance. he most important thing is that you carefully select your home inspector and be there at the time he/she makes the examinination. You may not know what is supposed to happen but they should go over the property with a fine tooth comb. Every wall, shingle, window, receptacle.....is looked at and tested. The good ones go in the crawl space, attic and on the roof. When you get the report don't be alarmed. Some things are to be expected, such as outdated electrical systems in older houses and minor settlement. An assessment is done by a city or county inspector to determine tax bases. Many times they are licensed or certified appraisers but they don't have to be and often are not. They don't do an appraisal. They go by public records, quite often wrong data. Some do have pictures and some have sketches. I put a woodstove in my house a few years ago. I went down and paid for a permit and to this day it is not on record. This is also true with additions which of course add square footage as well as value. I read the other night that approximately thirty percent of property is over assessed, therefore overly taxed. If you have good reason to think your property is in that category, you should contact your assessor and ask for an appeal. But, understand appreciation has seen an all time high in recent years and may very well be the reason for your estimated value. See my other article on understanding an appraisal for more detail. An appraiser does a very detailed extensive research on the area, neighborhood and specific property. Upon arrival pictures are taken. Notes are taken about curbs, gutters, sidewalks, street, landscaping...Then the house, deck, garage, porch and so on are measured, the square footage is calculated. Then every single item is noted inside the property. The appraiser goes to at least three similar properties (comparables) that were recently sold, ideally in the same neighborhood. Pictures and notes are taken. After returning to the office a sketch is drawn, pictures are produced and the work begins assembling all data and comparisons before arriving at an estimate of value. Suzie is a licensed broker and certified residential appraiser with twenty years of experience in the industry. She majored in real estate and architecture and prefers to do sketches by hand rather than using cad programs. Other professionals in the field have contributed as well including agents, brokers, appraisers and educators. http://www.freewebs.com/realestatenews
MORE RESOURCES: Real-estate agent explains new fees to homebuyers, he's not worried Business Insider Dr. Phil left speechless after real estate agent claims that squatting is justified by colonization New York Post Real Estate Listings Are Going Green: 5 Eco-Friendly Sales Features on the Rise Right Now Realtor.com News Inside Bill Gates' real estate, from his Seattle to Florida houses Business Insider Low inventory forces D.C.-area buyers to get creative, consider condos The Washington Post Banks Believe They Are Well-Prepared for Commercial Real Estate Fallout The Wall Street Journal The economy might be booming, but housing is in a recession: Top real estate CEO says he's never seen anything like ... Yahoo Finance Inside Chris Pratt and Katherine Schwarzenegger's Real Estate Portfolio Architectural Digest Google's Strategic Job Cuts Reflect Ongoing Cost-Cutting Measures, Affecting Real Estate and Finance Departments Yahoo Finance Local man allegedly poses as real estate agent in '20, steals over $7K | Hot Springs Sentinel Record Hot Springs Sentinel Real Estate Sales Include Two Falconer Commercial Properties Jamestown Post Journal Hot Tips for Home Buyers and Sellers Right Now Kiplinger's Personal Finance Westmoreland County Real Estate Transfers | Real Estate | latrobebulletinnews.com latrobebulletinnews.com Real estate expert says several factors impact farmland prices brownfieldagnews.com OT Real Estate Spotlight of the Week: 4218 Edgewood Court The Owensboro Times The Michael Houck Real Estate Guide for April 20 and 21 Oil City News 10 Real Estate Charts Showing What's Next for Housing: Ivy Zelman Business Insider The HYM Investment Group, Cathexis and National Real Estate Advisors Announce Pre-Leasing at Amaya Boston Real Estate Times Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate The Wall Street Journal Real-Estate Agents, Investment Advisers Chafe at New Anti-Money-Laundering Rules The Wall Street Journal LOCAL REAL ESTATE TODAY 4.19.24 – KQEN News Radio kqennewsradio.com Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties April 21, 2024 edition MassLive.com Co-op Assessments: Do You Have to Pay What They Say? The New York Times A repurposed mill, church, and a library: 3 nontraditional homes for sale in Baltimore The Baltimore Banner East Bank Master Developer Agreement with The Fallon Company Approved Boston Real Estate Times Prologis Warns of Slowing Industrial Real-Estate Market The Wall Street Journal EG Real Estate: Busy Spring Market – East Greenwich News East Greenwich News Nisa Investment Advisors LLC Grows Position in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Defense World S.F. housing market: Still very few homes, selling even faster San Francisco Chronicle How environmental insurance diligence can shape commercial real estate transactions Insurance Business Nuveen Real Estate Income Fund (NYSE:JRS) Stock Crosses Below Fifty Day Moving Average of $7.63 Defense World Critical Survey: Wheeler Real Estate Investment Trust (NASDAQ:WHLR) and Cousins Properties (NYSE:CUZ) Defense World Cerity Partners LLC Purchases New Shares in Alexandria Real Estate Equities, Inc. (NYSE:ARE) Defense World Top 25 Columbus Residential Real Estate Deals for January 2024 Columbus Monthly Healey-Driscoll Administration Names Alison Brizius New Coastal Zone Management Director Boston Real Estate Times Nisa Investment Advisors LLC Sells 32123 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE) Defense World An investigation into the University's controversial real estate holdings Johns Hopkins News-Letter How low inventory is affecting home sales in Peoria and the rest of Illinois Peoria Journal Star 21 Largest Real Estate Companies in the World Yahoo Finance Q1 2026 EPS Estimates for Alexandria Real Estate Equities, Inc. (NYSE:ARE) Decreased by Zacks Research Defense World How Real Estate Helped Taylor Swift Become A Billionaire Yahoo Finance Darien and Rowayton Real Estate Report: April 11 to 18 darienite.com TikTok’s Origin Story: Court Files Show Role of GOP Megadonor Jeff Yass The New York Times Ohio Department of Commerce Division of Real Estate and Professional Licensing offers tips – Daily Chief-Union Dailychiefunion China home prices slumped in March as property crisis drags on Business Insider Robert Bailey on Real Estate TPG Online Daily Dream Industrial Real Estate Invest Trst (TSE:DIR.UN) Stock Price Passes Below 200-Day Moving Average of $13.02 Defense World Downtime: Pairing wine and real estate RichmondBizSense Robin Hunden of Hunden Partners honored with Jeffrey D. Fisher Real Estate Legacy Award from Indiana University's ... Daily Herald Blackstone Earnings Rise as Investment Giant Projects Commercial Real Estate Recovery - CoStar Group Real estate mogul concerned how Americans will deal with squatters: ‘Something really bad is going to happen’ Fox Business Fannie Mae, Freddie Mac clarify real estate commission rules National Mortgage News Real Estate Broker Commission Settlement ClassAction.org Former HGTV star from Los Gatos sentenced in $10M real estate fraud case CBS San Francisco See the latest Coles County real estate transactions Journal Gazette / Times-Courier Two Weichert real estate agents in Willmar recognized for work in 2023 West Central Tribune A new real estate trend? Shopping malls converted into residential units in South Florida NBC 6 South Florida |
RELATED ARTICLES
Residential Property Abroad It is increasingly common for individuals to own more than one property and in many cases the first investment after the family residence is in a holiday home. Whether you are buying a place in the sun, a country retreat or a city centre apartment, if it is in a foreign country you will be exposed to an unfamiliar legal system and to taxes in the country concerned. Invest In Real Estate - But Where? Where should you invest in real estate? If you know an area well, and have enough experience investing in real estate, you can make money almost anywhere. However, there are always places that are better or worse for real estate investments - places that have a better demand/supply ratio. Getting Raw Land, Not a Raw Deal! There is more to buying raw land than meets the eye and more than a few individuals have wished they'd had a second chance upon finding themselves duped, conned, misled, ill-advised, uninformed, oversold, undereducated and often unprepared. They realize, often too late, that a raw land purchase should be properly investigated, evaluated and negotiated using a logical and rational plan. What is Tax-Deferred Exchange? Under Section 1031 of the Internal Revenue Code, owners of real estate held for investment or use in a trade or business can swap their property tax-free for "like-kind" real estate.Exchanges are made for people wanting to stay invested in real estate, increase their leverage and to avoid paying hefty taxes upon the sale of property. Selling Houses: The Basics of Design Psychology I'm often asked about the basics of Design Psychology, which offers innovative interior and exterior design ideas for increasing profit and shortening market time. In reply, I begin by saying that Design Psychology's strategies go well beyond normal cleaning, painting, and repair. Selling Your Home - What Can Go Wrong With Pricing and Loans So, you're selling your home (house, townhouse, condo, apartment, land, lot, farm, ranch, etc.), what can go wrong? The sad fact is that a lot of things can go wrong. Buying Foreclosures - Knowing Why Helps You Buy One big potential deal-killer in buying foreclosures is the homeowner. If the homeowner does not trust you, buying their home (even at a foreclosure auction) can become a greater challenge. Secrets of Making Money from Real Estate - Part 2 Leverage: With real estate, people and companies will lend you money to invest. How much real estate can you buy with $20,000? Probably between $100,000-$300,000, depending on the lender. Fixing Houses: Mixing Your Own Paint for Savings and Harmony To make the maximum profit on your investment properties, you'll need to save money wherever you can. One way to save significant amounts of money is to mix your own paint. Youre Not Paranoid: The House Really Hates You If you've just bought a house, you may be able to relate to a fascinating essay in Maya Angelou's book, Even the Stars Look Lonesome.When Ms. Real Estate Investment - One Simple Formula I saw the ads in our small-town newspaper for years before I realized exactly what was going on. They were always the same: A house for sale with 5% down and payments of 1% of the purchase price. Peace of Mind for Home Inspections: Choose the Right Inspector! As sure as the spring flows at The Fountain of Youth, home inspecting provides a stream of knowledge to wash away the fears of home buyers. But fear may be replaced by frustration if the wrong inspector is chosen! Some pointers on selecting your next home inspector will go a long way toward making the process a happy one. Selling Your Home - A FSBOs Guide to Keeping It Safe Sellers need to keep their safety in mind when prospecting potential buyers. The real estate industry has seen a problematic climb in assaults towards realtors, and so is the concern for those who are selling their own homes. French Property - a Buyers Guide to Purchasing Property in France The CompromisThis document is the document you will sign agreeing to buy the property at the agreed price. It is signed by both vendor and purchaser and sets out all the details of the purchase price and fees. Real Estate Investing: America Rents Most people in America rent a personal dwelling!Just think how many families rent a house or an apartment, a duplex or a condo.Yet, nobody prefers renting. Selling Your Home Quickly, Even if You Have No Money For Repairs Do you need to sell your home quickly? If so, don't be tempted by the ads you see that say "We Buy Houses" or "Sell Your Ugly House in 9 days for Cash." Those types of ads are placed by real estate investors who are looking for sellers under duress, and they'll only pay up to 70% of the low end market value for your home. Why Mobile Homes? There are mobile homes for sale, for much less than stick-built houses, in most areas of the country. Despite persistent predjudice against them, and sometimes the people living in them, mobile homes are the cheap housing choice of millions. Cant Rent a Work Zone So you've picked up your first (or third, or tenth) income property, and it's a real fixer-upper. You've got a great team of contractors, and you know what they need to do and how much time and money it's going to cost to make it happen. Buying a Home in Westminster The city of Westminster is centrally located in the Denver metropolitan area. Its easy access to amenities in both Denver and Boulder really coax investors into buying a home in Westminster. Follow-Up - The Key To Successful Closings If everyone always did everything they said they'd do, we'd all be a lot richer. Unfortunately, tasks are overlooked, and the ball is often dropped. |
home | site map |
© 2006 TIGER MEDIA |