When considering appraisers, many people initially might think only of residential properties. However, valuation professionals can offer a broad range of services to both commercial and residential real estate clients.
[Read more…]Owning a condo can offer many perks, as can choosing a co-op or planned unit development, and all of these property types present opportunities for valuation professionals.
In fact, according to the National Association of Realtors, there were 601,000 condo and co-op sales in the U.S. in 2018.
2019 Appraisal Institute President Stephen Wagner, MAI, SRA, AI-GRS, outlines the Appraisal Institute’s priorities for the year in the organization’s latest video.
As the Appraisal Institute continues to serve as the global valuation profession’s thought leader, the organization remains at the forefront of the most pressing issues facing appraisers today. [Read more…]
Some consumers confuse the role of appraisers with that of home inspectors. But important differences exist between the services offered by those professionals.
Money vs. maintenance
Appraisals are completed to provide a credible, reliable opinion of a property’s value. Inspections are performed to give prospective homebuyers insight into a home’s plumbing, electrical, roof and other features to help determine its condition.
By Rachel Massey, SRA, AI-RRS
I am not “just” a residential appraiser!
There’s no doubt that obtaining a certified general appraisal license opens doors to varied and interesting work. If it’s in one’s capacity to obtain this level, it’s a great idea.
But the idea of being “just” a residential appraiser must stop. Competent, highly qualified residential appraisers who study the market, know how to analyze and solve problems – and who can communicate effectively and succinctly – are very valuable to their clients.
Many factors help appraisers develop an opinion of value, which might result in an appraisal that doesn’t match the property’s sale price.
Emotional connection
An appraiser is there to give their unbiased professional opinion of a home’s value. Part of their job is to not have an emotional connection with the property. A homeowner usually has a figure in mind, which often reflects their attachment to the home itself.
The Appraisal Institute’s latest video features 2018 President James L. Murrett, MAI, SRA, outlining the organization’s top priorities for the year.
AI serves as the global valuation profession’s thought leader and will seek to advance the profession in four ways:
By Woody R. Fincham, SRA, AI-RRS
As co-chair of the Appraisal Institute’s Residential Appraiser Project Team, I’m often asked why residential appraisers should pursue AI’s SRA designation. Does it really help generate assignments, I’m asked?
I can tell you emphatically that there is great value in the SRA designation. Here’s just one story of how it’s helped my career.