Home Appraisals 101

In this episode, I speak with Cheryl Funez about home appraisals. Appraisals are an important part of the loan process. So, the more you know, the better! Tune in to learn all you need to know about appraisals. Below are the questions we go over in the video. How long have you been appraising real estate? What kind of licensing and fieldwork is required to be an appraiser? What does an appraiser do to determine the value of a property? If there is an offer on a property accepted on a specific property, after being listed for sale on the open market and it is determined to be an arm’s length transaction, how does an appraiser go about supporting the value that was accepted? How does determining the value on a refinance differ from determining the value on a purchase? How does the lack of supply impact values? How do you make adjustments when comparing different properties with different features and different conditions? What impact does location have on a property value? What resources do you use for comparables on properties you appraise? Any other questions you can think of I should be asking you to discuss.