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Real Estate Appraisal
By HomeSites.Com - Since 1997!
Real estate appraisal – is that the real one?
Real estate appraisal or property valuation is the process of determining the value of the property on the basis of the highest and the best use of real property (which basically translates into determining the fair market value of the property). The person who performs this appraisal exercise is called the appraiser or property valuation surveyor. The value as determined by appraisal is the fair market value. The appraisal is done using various methods and the appraisal values the property as different for difference purposes e.g. the appraisal might assign 2 different values to the same property (Improved value and vacant value) and again the same/similar property might be assigned different values in a residential zone and a commercial zone. However, the value assigned
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Mobile home loans - How to qualify and what are the options?If you're a home buyer looking for housing options other than a traditional home that will cost you more, then mobile/manufactured home may be the right choice for you. Mobile homes are built first in factories and then taken to the site, where it may or may not be given a permanent foundation. There are 2 options when it comes to financing your mobile home. Check out these financing options and the topics below:
Types of mobile home loans
as a result of appraisal might not be the value that a investor would consider when evaluating the property for investment. In fact, a investor might completely ignore the value that comes out of appraisal process.
A good investor would evaluate the property on the basis of the developments going on in the region. So appraisal as done by a investor would come up with the value that the investor can get out of the property by buying it at a low price and selling it at a much higher price (as in the present). Similarly, investor could do his own appraisal for the expected value of the property in, say 2 years time or in 5 years time. Again, a investor might conduct his appraisal based on what value he/she can create by investing some amount of money in the property i.e. a investor might decide on buying a dirty/scary kind of property (which no one likes) and get some minor repairs, painting etc done in order to increase the value of the property (the value that the investor would get by selling it in the market). So, here the meaning of appraisal changes completely (and can be very different from the value that appraiser would come out with if the appraiser conducted a appraisal exercise on the property).
A investor will generally base his investment decision on this appraisal that he does by himself (or gets done through someone). So, can we then term appraisal as a really real ‘real estate appraisal’? HomeSites.Com has been delivering comprehensive real estate and loan information to both home buyers and home sellers since 1997! For all of your real estate needs, access HomeSites.com!
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Mobile home loans - How to qualify and what are the options?
If you're a home buyer looking for housing options other than a traditional home that will cost you more, then mobile/manufactured home may be the right choice for you. Mobile homes are built first in factories and then taken to the site, where it may or may not be given a permanent foundation. There are 2 options when it comes to financing your mobile home. Check out these financing options and the topics below:
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