In this Pandemic, technology is the most important instrument for businesses. Local government implemented community quarantine, social distancing, and lockdowns which affected several businesses. Going online is now the go-to of all lines of business.
The city of New Orleans was reopened last May. As we all know, our lives will not be back to normal but it will be “the new normal”. The curve has decreased these past few weeks and our front liners were always on top to deliver.
There are a few things that every homeowner can do prior to the appraiser’s arrival to help make the process more efficient.
We have prepared a New Orleans Market Watch from January 2019 to present. This is just a quick insight of what’s going on in the real estate market of New Orleans for the past year.
An Inspection is a visual inspection of a property whether it is residential or commercial and is typically referred to in our market as a home inspection.
Coronavirus is definitely the most dramatic of all the health scares we have experienced. It has impacted every culture around the world. Each day we are inundated with new information about the current infection and death numbers.
Pricing a property is a real challenge. It’s a big challenge to real estate agents, buyers, and sellers, too. Perhaps, this is the common error an agent and homeowners can experience when pricing the property per square foot measurement.
We’ve already talked about the difference between a comparable and a sale, and how it can affect the pricing when done wrong. For those who haven’t read the previous article, please don’t hesitate to go to the Blog page on our website.
What exactly is the difference between a sale and a comparable? They are both properties that have sold recently, in a similar market area so does that mean that any or every sale can be a comparable? Not really. Sounds confusing? Not really.
In general, APPRAISAL is a fair and impartial assessment of anything that can be valued by an expert. The most common appraisal for most of us is an appraisal of our real property. Whether you’re buying or selling your property, having it appraised by a Licensed or Certified Appraiser is often required.
Deciding on a property’s list price can sometimes be very challenging for the homeowner and even the listing agent . The seller and the real estate agent may not be in agreement on what the initial list price will be. This is where an appraisal is needed.
Same with Real Estate. It means that we won’t necessarily get a dollar for dollar return on what we have spent to improve a property. The market will be the driver of how much value there is for any improvement. In other words, if you built a house that costs you more than a million, it doesn’t mean you’ll get the same amount back if you sold the property.
- Settle an Estate
When a loved one passes it can be very challenging to wrap up all of their final affairs, and in many cases, the largest asset of the estate is real property. Regardless of if the real estate owned is a single family residence, or if there is a portfolio of investment properties, an accurate value is essential. Often there may even be a need for several values for each property including the value as of the date of death and a current value. A certified appraisal professional with experience in succession is the only way to ensure an accurate value.
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