Talking to appraisers in today’s changing real estate market [infographic]

It’s easy to see change when looking in the past. Let’s take the real estate bubble burst, for example. We can all glance back and now sound so smart and polished when discussing rapid appreciation, inventory levels and a massive decline that ensued in the Summer of 2005. However, hardly anyone was talking about the market declining right when it began to happen. Why? Because it’s difficult to interpret trends when you’re right in the middle of change.

Can you see the market? Let’s fast forward to today’s market. We are experiencing something different, and it’ll be much easier to explain this market in a year from now when we’ve seen it play out a bit more. Inventory has been hovering around one month of housing supply in the Sacramento area. Multiple offers and offers over asking price are commonplace. The foreclosure rate has seen a decrease over the past year. Unemployment is down from the high of 13.2%, despite still being at 10.5%. And there is talk of having “reached the bottom” (be careful what you say though).

We are in the middle of change, and it’s frankly not an easy market to interpret for anyone – appraisers and agents alike. This means it’s supremely important for communication to flow more readily between appraisers and Realtors.

Infographic: I’ve given many tips for real estate agents for talking to appraisers, but today I want to share an infographic I created. As you can see, specific and detailed information helps appraisers form an opinion of value. Having solid data and a thorough understanding of the neighborhood market will only help boost accuracy in appraisals.

Tips for talking with appraisers - by Sacramento Appraisal Blog

If you are an agent, which questions do you wish appraisers would ask you? What would you like to say to appraisers? Do you find yourself sharing this type of information with appraisers?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

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