When I prepare appraisal reports for buyers who are wondering if their potential home purchase is worth the ticket price, I often include homes that are currently listed for sale.
Why include listings and what other number must you consider?
Why include listings? – This gives the client an idea of the price that other people are charging for homes similar to the one they are thinking of buying.
Besides price what other number should be considered? – Besides the price tag, another very important piece of information is the DOM – Days on Market.
This lets you know how long a home has been sitting on the market. The higher the DOM, the longer it has been sitting.
This suggests a problem selling the home, perhaps it is over-priced.
Bottom line: prices of homes that have sold, that are comparable to the one you are thinking of buying, are key indicators of value. However, two other category of numbers that must be considered are 1) list prices of homes on the market as well as 2) their respective DOMs, as these can let you know when a home may be overpriced.
If you have an appraisal business, you’re constantly looking for ways to be more profitable. Well, its possible that an overlooked way is sitting right on your desk! It’s that little or big piece of paper (sales contract, county assessor’s document, etc.) Do your really need a paper copy? How much money is it costing you? A box of paper at staples, 500 sheets, is approximately $15. If you go with the premium stuff, it could run you $45! So clearly the elimination of paper equals a reduced business cost. That’s the first benefit!
Another benefit is a more efficient workflow. If you are waiting for a piece of paper, such as your letter of engagement to be signed, it’s a lot faster when you can send it to be signed electronically, than having to print it for signing at inspection.
Lastly, you’re helping to preserve the environment by having a greener workplace. So here are six steps to help you get started on going green and paperless:
Get everyone on board. Explain why there is a need to go paperless and its benefits for your business. Present ways of how the office will have to change the system of creating, exchanging and storing documents.
Create copies of important existing documents and store them in Google Drive or Evernote. Start using these online tools for storing internal office documents.
3. When working with clients and vendors, ask for digital versions of documents. Always opt for email rather than mailing hard copies.
4. Invest in software and training. I use Total for Mobile to do all of my appraisal inspections. I can take photos, enter property characteristics, and complete an amazing sketch all in the palm of my hand without a pen! It then syncs perfectly with my computer at the office.
For digital signing, my go to app is SignNow. Plan and determine what type of app, database, or system would be right for your business and have employees go through training so that the whole office will be able to file and access information digitally.
5. Get started. Manage the switch so that the paperless system is maintained, but also have the office address flaws in the transition that may need to be optimized.
6. Inform clients. Your clients will need to know and adjust to your switch to paperless so that they may expect documents shared electronically going forward.
For me, personally going paperless has been liberating! I am required to keep a work file forfive years, and with the security features in place with many cloud-based storage apps, my info is better protected there than in a file cabinet in an office basement.
Don’t get me wrong, paper still has its place, and its going to be around for the foreseeable future. However, going paperless as on overall business strategy can be a big step towards saving your appraisal business time, money, and space. At the same time, it gives your documents better security. Following these steps, both you and the environment win!
To find out more about how I run my paperless office, or to order an appraisal, you can reach me at 502-309-2323 or at conrad@choiceappraisals.org.
Prospect is a friendly and inviting area so you shouldn’t have any trouble fitting in. But what should a Louisville appraiser or anyone considering a real estate purchase there know? Here’s a brief neighborhood profile to give you an idea of what it’s like to live in Prospect:
These are just a few things you should know about your potential new home. If you find this information interesting or useful, please like Choice Appraisal Services, LLC on Facebook and please support us by making Louisville real estate appraisal related comments on our blogs and YouTube videos.
Fairdale is a friendly and inviting area so you shouldn’t have any trouble fitting in. But what should a Louisville appraiser or anyone considering a real estate purchase there know? Here’s a brief neighborhood profile to give you an idea of what it’s like to live in Fairdale:
These are just a few things you should know about your potential new home. If you find this information interesting or useful, please like Choice Appraisal Services, LLC on Facebook and please support us by making Louisville real estate appraisal related comments on our blogs and YouTube videos.
Elizabethtown is a friendly and inviting area so you shouldn’t have any trouble fitting in. But what should a Louisville appraiser or anyone considering a real estate purchase there know? Here’s a brief neighborhood profile to give you an idea of what it’s like to live in Elizabethtown:
These are just a few things you should know about your potential new home. If you find this information interesting or useful, please like Choice Appraisal Services, LLC on Facebook and please support us by making Louisville real estate appraisal related comments on our blogs and YouTube videos.
The main difference between owning a house and a condo is in the form of ownership. With a house, homeowners have the right to all of the property both inside and outside. Whereas with a condo, owners only have exclusive right to their unit and share common areas with other unit owners. However there are also other differences that should be considered when deciding between a house and a condo.
Check out this video that show a few of the major differences between a owning a house and a condo:
If you find this information interesting or useful, please subscribe to this blog and like Choice Appraisal Services, LLC on Facebook. Also, please support us by making Louisville real estate appraisal related comments on our blogs and YouTube videos. If you need a Louisville, Kentucky area residential real estate appraisal services for any reason, please request an appraisal fee quote or book us to speak at your next event. We will do everything possible to assist you.
Thanks for reading,
Conrad Meertins, Jr.
www.choiceappraisals.org 502-309-2323
Radcliff is a friendly and inviting area so you shouldn’t have any trouble fitting in. But what should a Louisville appraiser or anyone considering a real estate purchase there know? Here’s a brief neighborhood profile to give you an idea of what it’s like to live in Radcliff:
These are just a few things you should know about your potential new home. If you find this information interesting or useful, please like Choice Appraisal Services, LLC on Facebook and please support us by making Louisville real estate appraisal related comments on our blogs and YouTube videos.
A home appraisal is an expert’s opinion of how much your home is worth.
Most lenders will order a home appraisal, which gives you a trained professional’s assessment of the home’s market value. The appraisal can include recent sales information for similar properties, the current condition of the property, and the location of the property.
Take a look at this video that shows how a home appraisal works.
If you find this information interesting or useful, please subscribe to this blog and like Choice Appraisal Services, LLC on Facebook. Also, please support us by making Louisville real estate appraisal related comments on our blogs and YouTube videos. If you need a Louisville, Kentucky area residential real estate appraisal services for any reason, please request an appraisal fee quote or book us to speak at your next event. We will do everything possible to assist you.
Thanks for reading,
Conrad Meertins, Jr.
www.choiceappraisals.org 502-309-2323
The Highlands is best known for its eclectic local shops, restaurants, bars, and nightclubs. But what should a Louisville appraiser or anyone considering a real estate purchase there know? Here’s a brief neighborhood profile to give you an idea of what it’s like to live in the Highlands:
These are just a few things you should know about your potential new home. If you find this information interesting or useful, please like Choice Appraisal Services, LLC on Facebook and please support us by making Louisville real estate appraisal related comments on our blogs and YouTube videos.
Buying a home for the first time can be an exciting experience. But along with all the unpacking and furniture shopping, you will also need to learn how to properly care for your new home. Doing routine home maintenance will allow you to save energy and money in the long run.
Here are 10 home maintenance tips to help you get started.
If you find this information interesting or useful, please subscribe to this blog and like Choice Appraisal Services, LLC on Facebook. Also, please support us by making Louisville real estate appraisal related comments on our blogs and YouTube videos. If you need a Louisville, Kentucky area residential real estate appraisal services for any reason, please request an appraisal fee quote or book us to speak at your next event. We will do everything possible to assist you.
Thanks for reading,
Conrad Meertins, Jr.
www.choiceappraisals.org 502-309-2323
When I prepare appraisal reports for buyers who are wondering if their potential home purchase is worth the ticket price, I often include homes that are currently listed for sale.
Besides price what other number should be considered? – Besides the price tag, another very important piece of information is the DOM – Days on Market.
