January 2, 2016
Ever wonder how an appraiser knows how long your home will take to sell? Being an expert in your market makes us at Bostedo Appraisal Services the authority — the guys and gals everyone goes to when they have a complex question about real estate.
Well, allow me to introduce you to Absorption Rate. Before your mind wanders off into numbness, let me also tell you that this is one of the most practical metrics or measurements you can learn for your market or for you as a seller. Better than that, it will only take you a few minutes to learn it. It should be pointed out, although the manufacturing segment of the economy has been using this metric for decades, real estate, for the most part still doesn’t.
OK, so what is Absorption Rate? Simply put, (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…)
December 2, 2014
If you live in, or own a Split Level, or Split Entry/Bi-level style dwelling within Allegheny, Beaver, Butler, Fayette, Somerset, Washington or Westmoreland Counties, be forewarned. Your property may be assessed at a higher value than the property should be due to a lack of uniformity. The lack of uniformity is what created the court ordered re-assessment process in Allegheny County and (more…)
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…)
August 5, 2014
Well, we will start with the easy part. What is the difference between a Row House and a Town House? In a word, nothing. A town house or town home and a row house or row home are the same. The names are only STYLES or DESIGNS of a type of residential dwelling. Both town and row are (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…)
June 22, 2014
Everyone seems to have heard of carbon monoxide, but not many people seem to know much about it other than hearing about it in a tragic accident on the news. This is a colorless and odorless gas that is produced whenever a fuel source is burned. These fuel sources can consist of many different things including natural gas, kerosene, oil, wood, charcoal and even paint thinner.
The problem is that carbon monoxide cannot be detected without the use of a monitoring device; carbon monoxide if not detected can very easily cause death. Not to mention even smaller amounts can still cause carbon monoxide poisoning, which can lead to serious health issues from lethargy and amnesia to psychosis and even Parkinson’s disease. Considering the (more…)