Appraising in Delaware, the Blog...

For Delaware, with a 0.56% effective rate, property taxes account for 18.8% of revenue. New Castle County homeowners pay the highest median tax--$1,651--Sussex the lowest--$747.  Read more here ... https://www.forbes.com/sites/samanthasharf/2017/05/01/where-in-your-state-homeowners-pay-the-highest-and-lowest-property-taxes/#32bc9a516cfe

July 19th, 2017 4:28 PM
Interested to learn how appraiser ...appraise?  Read more here ... http://birminghamappraisalblog.com/faqs/appraisers-reconcile-value/


July 13th, 2017 11:46 AM

A home appraisal consists of these three components:

1. A Physical Examination of the Property- 
The physical inspection at the house may take an appraiser as little as 30 minutes to perform or could take as long as two to three hours. This depends on the size of the house, known as Gross Living Area (GLA) and also the design of the home. An artsy Contemporary style home takes longer to measure than a standard rectangular Colonial home. Physical visits are usually brief when a home is in average to very good condition. However the inspection can take a bit longer if the property is in fair or even poor condition as there are more things the appraiser must observe and notate.

2. Selecting Comparables - 
Next, finding the most recent/similar sales that are located approximately within a mile of the property, and that have closed within the past 6 months, are what every appraiser is seeking!!! These properties are used to establish an accurate opinion of value. The appraiser will locate the most appropriate and comparable sales to be included in his appraisal report.

3. Completing The Appraisal Report - 
After a thorough physical examination of the property and locating the best comparable sales available, the appraiser will start entering all of this data into a standard appraisal report form. Once all of the data is entered, the appraiser evaluates all of this information so he can arrive at his final estimate of market value. Fortunately, almost all residential properties require only short form reports, usually 10 pages or less. Appraisers often can complete a report in about 5 hours. Depending on the appraiser's workload and on the complexity of the property, an appraisal report should be completed and delivered to the lender in about seven to ten days



July 13th, 2017 11:43 AM
Are you a loan officer, real estate agent, or homeowner who has read an appraisal only to come away scratching your head? Sometimes real estate appraisal reports can look a little like hieroglyphics but today I’m going to help unravel some of the mystery and confusion associated with common appraisal industry lingo used in an appraisal.  Read more here ... http://preview.tinyurl.com/yb3yrg6v

Posted by Patti Persia on July 13th, 2017 11:43 AMLeave a Comment

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If you were a forward-thinking individualist in 1800s America, building an eight-sided abode was a great way to show it. The octagon house was a cutting-edge design at the time, believed to be a more efficient use of space, energy, and cost than the conventional square.

  T.M. Younglove Octagon House.

Read more here ... http://www.atlasobscura.com/lists/octagon-houses


Question: How do appraisers account for a difference in year built? Do appraisers give an adjustment when to comps there is an age difference? 

Read more here ... http://sacramentoappraisalblog.com/2015/06/01/how-do-appraisers-account-for-a-difference-in-age-between-comps/?utm_content=bufferbc904&utm_medium=social&utm_source=linkedin.com&utm_campaign=buffer


June 28th, 2017 2:46 PM
Estate Settlements: A good attorney or accountant can help direct you toward the type of value needed for your estate, and a company like mine (real estate appraisals) already knows what questions to ask you. Your circumstances may be very difficult understandably, so the hope is that at least the professionals around you can help to smooth over some of the details like this so you don’t have to think too much about them.

Posted by Patti Persia on June 28th, 2017 2:46 PMLeave a Comment

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June 28th, 2017 2:46 PM
From Urban Dictionary - Appraiser- Someone who comes to your house when it looks its worst and pokes around in your stuff. Then goes back and tells the bank what a loser you are and how much money you lost. Usually a fat older man with a muffin top and garlic breath. "Did you catch a wiff of the appraiser? He smelled like jiffy pop."

Posted by Patti Persia on June 28th, 2017 2:46 PMLeave a Comment

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