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Pre-Listing Pre-Purchase or FSBO Appraisal. Whether you’re a homeowner selling your property on your own or a seasoned realtor trying to establish a fair list price it’s often difficult to sift through all of the market data to determine a true value for your home....
Tax Assessment Appeal Appraisal. The best way to win an assessment appeal hearing is with a certified appraisal.
Estate or Probate Appraisal. When an estate has a transfer of ownership due to death or inheritance, it is very common for a real estate appraisal to be needed for tax purposes....
Divorce Appraisals. One or both parties should hire the services of a professional real estate appraiser to estimate the fair market value of the home. An appraisal for asset division should include a well-supported, professional report that’s defensible in court....
Estate Attorneys in Pittsburgh, could a specialized appraisal of a historic property unlock hidden estate value for your clients?
As an estate attorney, you may often encounter the complexities of managing historic properties in estate planning. These properties are not just structures—they carry with them rich histories, unique architectural features, and, often, hidden value that can impact the financial outcomes of an estate.
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Study of Life Expectancy of Housing Components
Prepared by the Economics Group of NAHB
While this study may be older, considering the Financial collapse of 2008-2010, many lenders, manufactures and the economy as a whole were more focused on survival opposed to innovation. Under these catastrophic conditions that occurred, it makes this study as relevant today as it was at the time it was produced and for the foreseeable future.
[Note: This report should be used as a general guideline only. None of the information in this report should be interpreted as a representation, warranty or guarantee regarding the life expectancy or performance of any individual product or product line. Readers should not make buying decisions and/or product selections based solely on the information contained in this report.] As indicated, this is dated material but can be used as a generalization.
Performing a recent Pittsburgh appraisal, I thought a post on realtor.com was interesting. There was a recent realtor.com article 6 Costly Mistakes First-Time House Flippers Make. This article was interesting due to many of the situations I have seen considering we do work for many flippers. One in particularly that was NOT in the article which should have been and I will go over that later with a personal story.
I will include a link to the realtor.com article below. However, in the mean time, I will just briefly cover the 6 included and the 7th NOT included.
These questions come up quite a bit. I wish I could categorically say absolutely and the value rises by ?% of the entire home. I wish I could say that. Instead, I will defer to the appraisers favorite appraiser saying “it depends”.
Usually the answer to the first question is yes. However, there are some circumstances where it may not be so obvious and (more…)
Converting An Attic Into Living Space. Many people think of ways in which to improve their home. Depending upon the style and construction, sometimes attics have more than enough room to create an additional room or two. In fact, some homes (more…)
These past few weeks the NEW Washington County assessment values started hitting the mailboxes of Washington County homeowners. Although it is too early to tell, it appears that some of the same issues that affect Allegheny County residents are now beginning to affect Washington County residents.
When it comes to County wide reassessments, there will always be issues. However, although it may be too early to tell considering all the values have not yet been mailed, there seems to be a disturbing pattern. (more…)
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…)
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…)
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…)
D-day is upon us. TRID-day that is.
Oct. 3 marks the effective date of the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule or TRID.
Every residential real estate transaction now requires new loan documentation consisting of (more…)
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