March 30, 2011 - Appraisal Pictures
They say a picture is worth a 1000 words. This is true for appraisals also. I had a conversation with a client the other day. She was telling me about an appraisal she received and how bad the pictures were in the report.
My first thought to myself was, “the appraiser inspected the property, he saw everything, does it matter how good the pictures are?” After a second, I said “yes”. An appraisal is a report, and someone, in some other location who has never been to that house and does not know the neighborhood, is going to rely on your report. They are going to look at the pictures in your report, so why not take the best pictures you can? I am not talking about learning to be a professional Architectural Photographer, just know how to take a good picture that accurately represents the home, room or condition.
Here are a few tips:
Let me know what you think?
If you have any appraisal needs or referrals, please call me at 562-673-1138
March 10, 2011 - External Factors that influence perception and values.
I was up in the Mid-City area of Los Angeles today doing an appraisal. The subject house was located close off a major east west street. I pulled a few comps from different neighborhoods. I knew the range was different but I wanted to see the other areas that had higher values. Once I got to the other neighborhood, it was quiclky obvoius that the homes here are of higher value. The homes had curb appeal, all nicely landscaped and maintained. But what really let me know when I was in a higher priced area was the street. All the streets were recently repaved and or slurry sealed. This had me stop and think about how something out of the homeowners control can possibly influence the perception of buyers and how this might contribute to higher values in the long run.
What do you think?
If you need have and real estate appraisal needs in the greater Los Angeles and Long Beach Area, contact me at 562-673-1138, www.wallaceres.com
January 25, 2011 - Current Long Beach Real Estate Market
The current Long Beach Market remains sluggish, we are still in a “Buyers Market” . The Market Action Index(MAI) is still below 30, anything below is a buyers market, anything above is a sellers market. The 90 day MAI stands at 17.20. The inventory has been tightening and the days-on-market has been increasing to an average of 165 days. This is not good for the overall market.
Agents, these reports from an appraiser, along with your CMA are a great tool to bring to a listing interview. An added feature would be a Desktop Appraisal of the subject house.
If you are interested, please call Craig Wallace at 562.673.1138
