December 8, 2015
Over the years Pittsburgh housing trends have been fairly steady. In fact, it has been sort of a running gag when someone asks how much their home has appreciated the ‘off the cuff’ answer was always about 3% per year. It has been like this for decades. In fact, this phenomenon was one reason that Pittsburgh survived the housing bubble due to Pittsburgh housing trends not being in a bubble.
This post and the graphic to the left depicts only (more…)
October 27, 2015
Beware! Upside Down Builders
I’m sure many of us have seen them and frankly, probably never gave it a second thought, the homes that were built upside down.
Well, upside down I guess is only a matter of opinion. You can call them just about anything, even contemporary will work. However, there is one thing you can’t get away from, why is there only 1 bedroom on the 1st floor and all the rest of the bedrooms are downstairs? (more…)
September 1, 2015
Over the past number of years, I had the opportunity to appraise many 2-4 family properties in the Pittsburgh and surrounding areas for pre-listing, divorce, estate and other reasons. The reasons behind the appraisals are not the story; the story is why, and how, there was such a reversal of fortunes so to speak in the overall value of both single family residential, and multi-family (2-4 unit) properties. At this spot in the blog, I must point out that this is not only an issue in Pittsburgh, but the entire southwestern Pennsylvania region. (more…)
June 29, 2015
Recently a Pittsburgh, Pennsylvania homeowner asked me to do a pre listing appraisal for them because a friend who is involved in Real Estate said they may have over improved their home, and they should see where they stand by getting an appraisal.
The property was a townhome style dwelling in condominium ownership. I arrived at the home and may I say, the property was beautiful, everything in it brand new and gorgeous. I will not go into great detail about the property because it will be coming onto the market and the actual renovations completed are a mute point.
November 6, 2014
If you are like most and haven’t had an appraisal done on your home recently, one of the first things that may come to your mind is, “What do I need to do to get ready for the appraiser?” Here are some things you may want to consider prior to the appraiser coming to your home. (more…)
October 21, 2014
One of the best ways to increase the market value of a home is to make structural improvements or add features such as a deck or an extra room. I do want to emphasize if your plan is to enlarge your home, there are some things you may want to consider in your planning. Make sure to read the (more…)
September 12, 2014
Zillow vs Certified Appraisal. Let us first start out by explaining what is Zillow? Zillow is what is known as an AVM an Automated Valuation Module. Locally in Pittsburgh, Allegheny County and next, the surrounding Counties, we are all too well familiar with an AVM although we don’t know it. This is the same type of computer program that has and is creating each and every properties’ assessed value and we all know how that is turning out. (more…)
July 15, 2014
Some of the most common Pittsburgh FHA appraisal repairs many homeowners are not aware of nor that these common Pittsburgh FHA appraisal repair items will be needed to be addressed with an FHA appraisal for an FHA loan.
The FHA has three main concerns, for FHA appraisers, they are called the three S’s. The three S’s are Safety, Soundness and Security. A property must meet these three main criteria to qualify for a FHA loan. The most common repair items (more…)