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+--- Thread: Appraisal (/showthread.php?tid=5970)
Appraisal - Kelena - 07-31-2009
Need appraiser recommendation
RE: Appraisal - John S. Rabi - 07-31-2009
Glen, real estate agents can't give you an appraisal, they can only give you a CMA (Comparative Market Analysis) but if you are having trouble finding one to do that than you are talking to the wrong agents.
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
RE: Appraisal - Youser - 07-31-2009
As far as I understand, if I ask a realtor to value my house for a sale, that's an appraisal. I can get a CMA myself by reading Harry Pritikin's emails (he publishes recently sold prices, aka - CMA) You can find out right away what the comp values are of all the homes sold in your area.
Glen - Are you looking for the market value of your property, should you put it on the market today? If so, I have an idea. Tell 3 realtors you are thinking of selling and ask them what they think you could market your house for. Take the average of their numbers and call that your "appraisal value". Or if you can't be bothered to bother the realtors, find out what houses in your area have recently sold for and use that to go by.
RE: Appraisal - Kelena - 07-31-2009
Getting a REFERRAL from a real estate agent. Not asking for an appraisal from a real estate agent, silly!
RE: Appraisal - John S. Rabi - 07-31-2009
quote:Sorry, that's not true. Only licensed appraisers can give you an appraisal. The sold data in real estate agent's newsletters is not a CMA, it's just the sold data. The CMA would compare a certain property to like-kind properties within the subdivision. If there is not enough comparable within the same subdivision than like-kind subdivision would be substituted.
Originally posted by Youser
As far as I understand, if I ask a realtor to value my house for a sale, that's an appraisal.
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
RE: Appraisal - Kelena - 07-31-2009
Thanks for the suggestion, Youser, but I couldn't bring myself to do that. As for doing it myself, the houses in my area are ALL OVER THE BOARD. HPP has houses listed as low as $100,000 and as high as a million. What a crazy neighborhood. As for the "solds" on my street, they, too are all over the board, especially in comparison to current listings which, to my mind, are just way to high relative to intrinsic value.
Also, for reasons I won't go into, I think it is prudent to have documentation from an objective observer, who is making an assessment not in connection with a particular transaction, but just based on the current market.
I personally wonder if the current market is objectively discernible.
RE: Appraisal - Aki - 07-31-2009
Glen,
I wonder if a Bank in Hilo would have recommendations or some names for you to contact in obtaining an objective appraisal?
Sorry for the circumstances that have precipitated this.
Aki and Laura
RE: Appraisal - Hotzcatz - 07-31-2009
Try ask a mortgage company who they use. Banks should also have a list of appraisers. Have you checked the phone book?
Kurt Wilson
RE: Appraisal - Kelena - 07-31-2009
Thanks Aki, Laura (how are you guys?), and thanks Hotcatz. I usually turn to Punaweb first, start a spat over what realtors can and cannot do unintentionally and then turn to the telephone book. I think that's what I'll do.
RE: Appraisal - Noel M2 - 07-31-2009
Glen,
We've recently used G&H in Hilo. Garth Yamanaka did an appraisal for us recently and we were pleased with his work. You can reach him at 557-6379.
Good luck.
Noel
Noel
http://HiloParadise.com