KAKE News Featured Links (Real Estate Appraisal)
December 26, 2006 on 4:45 pm | In Real Estate Appraisal | No CommentsKAKE News Featured Links
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5 Things to Look for (Real Estate Appraisal) in a Property Appraiser
December 26, 2006 on 4:44 pm | In Real Estate Appraisal | No CommentsHomeowners who are seeking a property appraiser often ask How should I choose which real estate appraiser to use? When selecting a property appraiser, keep the following in mind:
Always make sure a property appraiser is licensed or certified by the state to perform real estate appraisals. While state licensing and/or certification isnt always an indication of quality, it ensures that an individual is has met certain standards and been authorized to perform property appraisals. Some states do not require licensing to perform real estate appraisals. It is unwise to use the services of any professional who is not licensed or certified.
Dont be afraid to ask an appraiser for a copy of their license. A good appraiser will readily provide this documentation. Copies of licenses are commonly requested by mortgage brokers and loan officers. Once you get a copy of their license, its a good idea to check with the government agency which issued the document to ensure the license is active and in good standing.
Many excellent real estate appraisers carry a professional designation. The most widely known industry designations are SRPA, SRA and MAI. These designations are issued by the Appraisal Institute. These designations demonstrate an appraiser’s commitment to continuing education and ethical standards. Oftentimes, the standards required to obtain these designations exceed those set forth by state licensing/certified requirements.
Ask the real estate appraiser what percentage of their work is performed in the neighborhood in which the property is located. Appraisers who do a lot of their work or live in a particular area often have a deep knowledge of property values in that area. Additionally, they are more likely to know how neighborhood variables such as school districts and fire departments affect the property values in the area.
Lastly, find out if the property appraiser has experience performing appraisals for consumers as opposed to real estate professionals. Mortgage brokers and loan officers have distinctly different needs than homeowners. An appraiser who understands the needs of homeowners is more likely to help you learn about the appraisal process and answer questions you may have along the way.
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About The Author Mary Collins currently works for http://www.find-appraisers.com and is a consultant with experience in the real estate industry. She and the staff at Find-Appraisers.com are focused on helping consumers and real estate professionals quickly find licensed/certified property appraisers in any county across the United States. Group raises Lone Star buyout offer (Real Estate Appraisal)December 25, 2006 on 5:53 pm | In Real Estate Appraisal | No CommentsGroup raises Lone Star buyout offer A Price Run-Up for Run-Down Communes Houston Office Market (Real Estate Appraisal)December 23, 2006 on 10:29 pm | In Real Estate Appraisal | No Comments> The downtown Houston office market is a hot topic these days. Recent months have seen a flurry of activity, whether it be leases, move-outs, or acquisitions. It’s no secret that the downtown market continues to be plagued by average vacancies painfully close to 20% and stagnant rents. With the thought that things will improve in the near future, investors have been purchasing properties in earnest. The fourth quarter news was encouraging, notably EPCO, Inc.’s acquisition of 1100 Louisiana, a building in which they have subsequently occupied 300,000 square feet. Also, Wells Real Estate Funds paid the highest per-square-foot price in the Houston office market’s history ($286 psf) for 5 Houston Center. Rumor has it that ChevronTexaco is interested in purchasing the remaining vacant former Enron building, while other energy companies have begun to reclaim shadow space downtown. Unfortunately, the Central Business District’s recovery is anything but a slam dunk. Two major tenants, Burlington Resources and Bank One, are expected to vacate CBD space in 2006 after acquisitions by ConocoPhillips and Chase, respectively. In the same building Burlington is expected to vacate, Calpine Corp. reduced the amount of space they lease and subsequently lost naming rights to the former Calpine Center, now known by its address, 717 Texas. Questions still remain about when the downtown office market will see a substantial improvement. It did not happen with the recent influx of New Orleans office tenants, as some thought it would. However, strong job growth has many experts predicting a healthy 2006 for the Houston office market overall, and with the positive fourth quarter numbers, it appears the market is moving in the right direction. To view this entire article and more market research updates on apartments, offices, industries and retailers and to learn more about the services O’Connor & Associates offers, please visit {A HREF = http://www.poconnor.com}houstoncommercialproperties About the AuthorPatrick O’Connor, MAI is president of O’Connor & Associates. The firm, in business since 1974, specializes in nationwide real estate appraisals, research, and state and federal tax reduction services. O’Connor is frequently acknowledged by national publications as a respected source of information on real estate trends.
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