Bruce, I watched all your informative appraisal videos. Very good job. From your VAST experience, I'd like to get your opinion on something please. I'm selling my house in AZ. To the East of my home is nothing but industrial, commercial properties. With that said, looking ahead to an appraiser coming in. They should evaluate all homes for comps fairly and equally. To do that, imagine they draw a radius around your home 1/2 mile either direction, in all 4 directions, creating 4 quandrants. All four have properties to use as comps. Because my property only has the left 2 quadrants with properties, is it okay to bring that to the appraisers attention. I was suggesting to move my property "point" to the left 1/2 mile so that i get the same benefit as everyone else, with all 4 quadrants occupied with properties. Otherwise I am only benefiting from 50% of avail homes for comps. I feel like I'm disenfranchised. I know this was long, hope I explained it. Wish I could send a pic
thanks for this! I am a newbie investor..so this is good info for me AND encouraging that you shared even after 5 years we are all still learning♡ So after measuring the outside how did he calculate the square footage..did he only measure the circumference?
I'm real estate appraiser in Brazil, first part is inspection...it's very important!here we prefer to use the comparative method of market data, do you also use it?
They do use comps in the US, yes. As well as amenities, safety hazards, and of course the size of the home and other obvious features. BUT comparing to similar nearby houses is a very important factor.
Depends on the county. They should in most cases! Just check zillow or trulia for an estimate and have that figure in your head when you ask them for the actual answer.
Hi Danny. Yes, the standards are the same for the majority of appraisal work across the country. We all go by ANSI standards so that it is the same wherever you are.
I'm still getting my bearings in the field as a trainee, but I will say this to anybody learning how to measure/sketch the house - keep your back toward the street while you're inside, otherwise your sketch goes wonky quick.
@justinedse3314 If a buyer is obtaining finances there's a chance of a default. A bank and the Secondary market that buy these loans want to make sure if a buyer does default and they need to foreclose that they will make there money back. Hope that helps why we have appraisers for homes! They are very much need and I'm a real estate agent!
Bruce, I watched all your informative appraisal videos. Very good job. From your VAST experience, I'd like to get your opinion on something please. I'm selling my house in AZ. To the East of my home is nothing but industrial, commercial properties. With that said, looking ahead to an appraiser coming in. They should evaluate all homes for comps fairly and equally. To do that, imagine they draw a radius around your home 1/2 mile either direction, in all 4 directions, creating 4 quandrants. All four have properties to use as comps. Because my property only has the left 2 quadrants with properties, is it okay to bring that to the appraisers attention. I was suggesting to move my property "point" to the left 1/2 mile so that i get the same benefit as everyone else, with all 4 quadrants occupied with properties. Otherwise I am only benefiting from 50% of avail homes for comps. I feel like I'm disenfranchised. I know this was long, hope I explained it. Wish I could send a pic
The entertaining world of important refund info
Im waiting for my appraisal result! Hoping the appraisal gods appraise it at my offer price!!
Thanks for this …
Did you get Bruce a laser measuring tool? Worth the $40, saves you hours over the course of a few weeks.
I did not. You should mention it to him lol
I have one. I couldn't live without it! :)
thanks for this! I am a newbie investor..so this is good info for me AND encouraging that you shared even after 5 years we are all still learning♡
So after measuring the outside how did he calculate the square footage..did he only measure the circumference?
What's the formula for finding the area of a rectangle? I think it's base times width lol
He knows what he’s talking about
I'm real estate appraiser in Brazil, first part is inspection...it's very important!here we prefer to use the comparative method of market data, do you also use it?
They do use comps in the US, yes. As well as amenities, safety hazards, and of course the size of the home and other obvious features. BUT comparing to similar nearby houses is a very important factor.
What is the difference between appraisal of a new construction vs 20 year old construction?
That's a question for Bruce. Reach out to him!
I think so but does county records list the square footage also?
Depends on the county. They should in most cases! Just check zillow or trulia for an estimate and have that figure in your head when you ask them for the actual answer.
"I have no problem with my appraisal"...no...., but it's usually the underwriter who does...
Some times, yes.
So very helpful
❤
hey I know that street......it's Pine Tree Drive☺
Yes it is lol
Is the below grade the same in every state in terms of full or partial credit?
You'll have to contact Bruce for that answer!
Hi Danny. Yes, the standards are the same for the majority of appraisal work across the country. We all go by ANSI standards so that it is the same wherever you are.
Is this huffman TX?
osvaldo cruz Alabama
We don't have basements in Huffman, TX. Neither do we have those God awful accents. 🤢😂🤣
I'm still getting my bearings in the field as a trainee, but I will say this to anybody learning how to measure/sketch the house - keep your back toward the street while you're inside, otherwise your sketch goes wonky quick.
Just by watching Bruce, I can tell it takes real skill to do it the right way!
Nice 🙂
Measuring square footage outside is absurd.
Agree. Makes no sense to me whatsoever lol
I do it every day :)
Y’all watching this video, go catch up on your ANSI GLA standards! Lol
doing it for 5 years and didn't know that? need another career my man
We all have our areas of expertise. This is why I interview people. There's no way to know everything! :)
Way over thought. Not fundamentally sound. way way over regulated. All realtors and buyers and sellers agree!
I'm not following. What's overthought and not fundamentally sound?
@@REILIVEvideos The appraisers need to stay out of the transaction that was agreed upon.
@justinedse3314 If a buyer is obtaining finances there's a chance of a default. A bank and the Secondary market that buy these loans want to make sure if a buyer does default and they need to foreclose that they will make there money back. Hope that helps why we have appraisers for homes! They are very much need and I'm a real estate agent!