We recently did an appraisal on a home that was under contract. During the inspection portion of the appraisal, we were discussing with the homeowner the next steps of the appraisal process. We’ll send in the report, and you should hear from your lender soon after. If you have any questions, contact your lender. And [...]
It’s time once again for the Year-In-Review post. This is a look back at the previous year’s real estate sales in Daviess County, Kentucky. And what a year it was! The Owensboro, Daviess County area of western Kentucky continues to be a very strong real estate market. In this post we’ll look not only [...]
So this week my 14-year old twins got to tag along with dad on an appraisal. How fun?! Do you ever get to take your kids with you to work? I hope so. It’s such a fun experience! Anyway, the appraisal we did wasn’t just an ordinary appraisal. It was a drive-by. No not that [...]
School is in session. In this blog post - which is the final installment of our three-part series called ‘Appraisal 101’, we will be identifying the many reasons why you may need an appraisal. In case you missed part one or two, click here for part one and here for part two to learn [...]
School is in session. In this blog post - which is part two of a three-part series called ‘Appraisal 101’, we will be exploring the concept of market value. In case you missed part one, click here to learn the basics of the terms appraisal and appraiser. Appraisers deal with multiple types of value, but in [...]
School is in session. In this blog post - which is part one of a three-part series called ‘Appraisal 101’ - we will be answering two very important and fundamental questions: What is a real estate appraisal?; and what is a real estate appraiser? Question 1: What is a real estate appraisal? If you Google ‘what is [...]
Appraisers have many tools in our tool belt to help homeowners, just like you. Rarely do we ever just supply an opinion of value (appraisal) and leave it at that. Sure, that's what we do best, and what we are trained to do. But in addition to forming an opinion of the value of your [...]
It's Thanksgiving. We've all read and even written on the subject; how thankful we are for the loved ones and blessings in our lives. Like many, I am blessed beyond words with a wonderful family, home, and career. However, this post focuses on the latter - my career as a real estate appraiser. So here [...]
After the appraisal has been turned in, it usually goes through a review process by either an appraisal reviewer, or loan underwriter. Every financial institution has different standards by which they review the appraisal. The financing also comes into consideration when checking the appraisal for accuracy, making sure it meets all necessary guidelines. However, it [...]
We recently completed an appraisal on a home in the Lake Forest Subdivision on the east side of Owensboro. Some of the numbers we found were surprising, so we thought we'd share them here with you. Over the last five years, for the entire subdivision, market values are down slightly (2.6%) ; total number of [...]
