Why Did Baton Rouge Real Estate Agent Improperly Classify Sun Room Living Area Video

 

Why Did Baton Rouge Real Estate Agent Improperly Classify Sun Room Living Area, Are Sunrooms Living Area? Why Did Baton Rouge RE Agent Improperly Classify Su…

Source: www.youtube.com

Why Did Baton Rouge Real Estate Agent Improperly Classify Sun Room Living Area, Are Sunrooms Living Area?

 

NOTE: For privacy purposes, multiple photos are not included in this article.

 

NOTE: Also, this is being written for the Greater Baton Rouge housing market where it’s a GBRAR MLS requirement that Agents and Appraisers attend a 1 day training on how homes are properly measured and on what GBRMLS classifies living area to be.

 

This class is mandatory for access to GBRMLS, is taught by an Appraiser and the Agents physically measure the GBRAR Office Building, which is similar to a large home.

 

This is not being written to Agents that live in other States that don’t require physical measurement of homes for listings.

 

In 2006 and during a Post Hurricane Katrina high priced market, the owner bought this home via an GBRMLS Listing showing 2,533sf.

 

My 2013 measurement for a refinance appraisal showed 2,366sf living area, a difference of 167sf.

 

There is a Sunroom I measured at 134sf, which I didn’t include as Living Area.

 

The Sunroom used to be a porch and still has the old wood “exterior” siding on all 4 walls inside the Sunroom and does have 1 central heat/air vent.

 

Now, the owner/borrower is upset with me for not classifying Sunroom as “Living Area” and upset with the 2006 GBRAR Listing Agent for calling it Living Area when it was not.

 

The buyer / borrower in2006 thought they were buying 2,533sf living area based on the “professional representation” of the Agent Listing.

 

The Agent Commission was in the $18,000 range and for $18K, the living area should be accurate.

 

http://youtu.be/-aDM-v6iEn4

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5 Baton Rouge Home Appraisal Secrets Locals Should Know Video

 

5 Baton Rouge Home Appraisal Secrets Locals Should Know Greater Baton Rouge’s Home Appraiser with Accurate Valuatio…

Source: www.youtube.com

5 Baton Rouge Home Appraisal Secrets Locals Should Know

 

Greater Baton Rouge’s Home Appraiser with Accurate Valuations Group LLC, Bill Cobb, shares Steve Cook’s article, “5 Appraisal Secrets Everyone Should Know” located on

 

http://www.totalmortgage.com/blog/appraisal/5-appraisal-secrets-everyone-should-know/23899

 

I quote from the article below:

 

“Recently the Appraisal Institute, the professional organization and certifies appraisers, issued a statement urging consumers to work with appraisers.

 

“Appraisers welcome information that would assist development of a reliable, credible opinion of value.

 

Consumers can accompany appraisers when conducting the property inspection and may provide the appraiser with any information they consider important.”

 

Here the steps to take to increase the odds you’ll get a fair appraisal:

 

Avoid Popular Mistakes

 

Put Together an Appraiser’s Package

 

Be Ready to Answer his Questions

 

Get Your House Ready

 

Stick to the Facts When the Appraiser Visits

 

Review the Appraisal

 

http://youtu.be/UO3sVxKJMJU

Posted in Appraisal Questions and Answers, Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge FHA Appraisal Q & A, Baton Rouge Pre-Listing Appraisal Questions and Answers | Tagged , , , , | Comments Off

How Important Is Cosmetic Condition In A Baton Home Appraisal?

 

How Important Is Cosmetic Condition In A Baton Home Appraisal? Greater Baton Rouge’s Home Appraiser, Bill Cobb, shares Tom Horn’s New Birmingham Alabama Apprai…

Source: www.slideshare.net

How Important Is Cosmetic Condition In A Baton Home Appraisal?

 

Greater Baton Rouge’s Home Appraiser, Bill Cobb, shares Tom Horn’s New Birmingham Alabama Appraisal Blog article, “How important is the cosmetic condition of a house in an appraisal? located at http://birminghamappraisalblog.com .

 

Tom covers important value characteristics, such as location, curb appeal and cosmetic improvements. Tom’s experience in Birmingham AL, a similar Southern State, is not that different from what’s taking place here in Baton Rouge.

 

The trend in Birmingham is similar to that in Baton Rouge, to cosmetically update homes and I see more sellers updating them prior to selling. New flooring, new paint, new cabinet hardware, sometime slab granite counters when they make sense in that market.

Regarding Cosmetic improvements Tom states and I quote below:

 

“Many factors are taken into consideration when reconciling this value including current supply and demand, desirability of the area, and condition of the property.

 

Cosmetic improvements effect the condition of the property so if a home has great curb appeal and has been painted then the upper end of the value range may be supported because potential buyers may be more willing to pay a little more for its good condition if everything else is equal.

 

Cosmetic improvements will never be given more consideration than substantial improvements like additional square footage or kitchen and bath remodels, but they do contribute to value in the way I just described.

I am finding in today’s market that cosmetic improvements are very important because it has become the norm.

 

In an effort to compete and sell their home many homeowners are going all out to make their home as appealing as possible and this has made it a necessity for home sellers.”

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Larger Baton Rouge Homes Sell For Less Per Sq Ft, Kenilworth Subdivision

Larger Baton Rouge Homes Sell For Less Per Sq Ft, Kenilworth Subd

Larger Baton Rouge Homes Sell For Less Per Sq Ft, Kenilworth Subdivision

Larger Baton Rouge Homes Sell For Less Per Sq Ft, Example Kenilworth Subdivion 70808

“BATON ROUGE HOME BUYER LESSON: As a potential Baton Rouge home buyer, you should be aware of the fact that the market or buyers generally pay less per square foot for larger homes and that this is a general rule of thumb in real estate nationally. If you see a listing of a home in a subdivision where that home is much larger than the average home in a subdivision yet priced equivalent to the smaller homes, then you should be on guard about the pricing. Question the Agent you’re working with about this situation as sometimes, Agents will list a home at what the seller wants versus what the market will support. Sometimes larger homes are priced based on sold price per sq. ft. of smaller homes in same subdivision, see Price Per Sq Ft And The Costco Principle. AND, sometimes a home is both larger than average as a result of an addition, an enclosure AND a major renovation where Agents are trying to price in a larger than average home, BUT one that’s renovated as well….”

Originally published FIRST on ActiveRain.
For the full explanation with charting, see:

http://activerain.trulia.com/blogsview/4343316/larger-baton-rouge-homes-sell-for-less-per-sq-ft–example-kenilworth-

 

 

Have Questions about Baton Rouge Housing?
Drop Bill Cobb Appraiser A Note Here:

http://www.batonrougehousingreports.com/drop-bill-a-note/

Greater Baton Rouge Real Estate Data Note:
Based on information from Greater Baton Rouge Association of REALTORS® / MLS for the period 01/01/2012 to 03/05/2014, extracted on 03/05/2014.

Posted in Larger Homes Sell For Less Per Sq Ft | Tagged , , , , | Comments Off

How To Challenge A Baton Rouge Home Appraisal

How To Challenge A Baton Rouge Home Appraisal

How To Challenge A Baton Rouge Home Appraisal

How To Challenge or Contest A Baton Rouge Home Appraisal

Have Questions about Baton Rouge Housing?
Drop Bill Cobb Appraiser A Note Here:

http://www.batonrougehousingreports.com/drop-bill-a-note/

Bill Cobb, Greater Baton Rouge’s Home Appraiser, is sharing “How To Challenge A Home Appraisal” by Adam Verwymeren via Foxnews.com.

Article Link is here and is quoted below, so the source is here:

http://www.foxnews.com/leisure/2014/06/13/how-to-challenge-home-appraisal/

This is Adam’s opinion and Bill Cobb does not recommend you obtain “comps” or try to estimate your home’s value from sites like Zillow or Trulia.

Nothing can kill a real estate deal faster than a low appraisal.

 

 

Posted in Appraisal Questions and Answers, Baton Rouge Home Appraisers, How To Challenge Appraisal | Tagged , , , , | Comments Off

Can Baton Rouge Home Buyers Receive Copy of Appraisal Report

Can Baton Rouge Home Refinancers Receive A Copy of Appraisal Report Can I Review Home Appraisal Prior To Closing? W…

Baton Rouge Real Estate News‘s insight:

Can Baton Rouge Home Buyers Receive Copy of Appraisal Report 

 

Can Baton Rouge Home Buyers Receive Copy of Appraisal Report

Can I Review Home Appraisal Prior To Closing?

Did the home I’m buying appraise for what I’m Paying?

What Comparable Sales Did The Appraiser Use?

Sources used in this video are National Association of REALTORS® and The Washington Post Quoting Dodd-Frank Rules

QUESTIONS ABOUT BATON ROUGE HOME APPRAISALS?

ASK Bill Cobb Greater Baton Rouge’s Home Appraiser
asktheappraiser@gmail.com
homeappraisalsbatonrouge.com
225-293-1500

http://youtu.be/JhWtOuOJEuU

A resource for locals in Greater Baton Rouge to help understand the real estate appraisal process and where it fits into their home valuation. Videos are by veteran Home Appraiser Bill Cobb and Accurate Valuations Group

See on www.youtube.com

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VIDEO: What Is A Baton Rouge Home Appraiser Final Inspection?


http://www.batonrougerealestateappraisal.com – What Is A Baton Rouge Home Appraisal Final Inspection? For new home construction where the home loan began whi…

Baton Rouge Real Estate News‘s insight:

What Is A Baton Rouge Home Appraisal Final Inspection? 

For new home construction where the home loan began while home was under construction, a final inspection is a verification inspection to show Lender with photos that home they are lending on is 100% Complete. Inspection also includes verifying if mechanical systems are operational, such as water, electrical and gas.

What Is A Baton Rouge Home Appraiser Final Inspection? 

See on www.youtube.com

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Bill’s Classroom Offers Real Estate Tech Tips For Content Creation – Bill’s Classroom


Billsclassroom.com Bill’s Classroom Offers Real Estate Tech Tips For Content Creation Bill Cobb’s Classroom website is being launched to help categorize and catalog answers to local REALTOR® questions about how I’m able to create so much online content – how I make content creation happen. What I plan on covering is how I implement these below to [...]

Baton Rouge Real Estate News‘s insight:

Bill’s Classroom is slowly being setup to help local Agents with Content Creation and Questions

Subscribe on this site for email updates as I post new content 

AND


This effort will help me catalog and categorize the help I’m already providing Agents in 1 online location

YouTube Channel Setup and How Tos
Easy iPad Video Editing
Blogging
Content Creation
Image Marketing
Canva.com
Content Curation
Smartphone Photography and Videography
Gopro Video Shooting
Video Creation
Photography via Canon DSLR
Social Media Tips
Hootsuite Hootlet for Scheduling Content Shares

See on www.billsclassroom.com

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Baton Rouge Real Estate Appraisers have to make 700+ decisions for every Appraisal


Just in case anyone does not think an Appraisal is worth the Cost….Please take the time to read this great Article by Diana Jacobs in the Recent Worki…

Baton Rouge Real Estate News‘s insight:

Baton Rouge Real Estate Appraisers have to make 700+ decisions for every Appraisal

Wow! I didn’t even realize this myself.  

Diana Jacobs says, 

“My count, and it doesn’t break down the multiple directives of the assignment conditions or specifics of the Statements of USPAP or the Scope of Work Rule, etc., is 784 decisions for the appraiser in every residential assignment.” 

The next time you question the cost of the actual appraisal fee, not the total fee you’re paying to the Appraisal Management Company AND the Appraiser, think about all of the work that goes into completing a competent Baton Rouge Home Appraisal Report. 

See on activerain.com

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Which Comes First the REATLOR® or the Lender?


Which Comes First the Realtor or the Lender?

Baton Rouge Real Estate News‘s insight:

Which Comes First the REALTOR® or the Lender?

To this Home Appraiser, based on 21 years in real estate, this is a somewhat biased article stating you should contact a REALTOR® first…..SEE NOTE BELOW.  However, generally, Agents do prefer buyer(s) they’re working with to have a pre-qualificaiton letter from a Lender to determine how much home they are qualified to buy. Without knowing how much home the buyer can buy, Agent and Buyer really don’t have much of a place to begin to work together – to begin seeing homes.  Some Agents won’t even work buyers until they have that Pre-qualification Letter. 


NOTE: IF YOU’RE A FIRST TIME HOMEBUYER, THEN THIS COULD BE DIFFERENT. 
Some Agents or Real Estate Brokers host “First Time Homebuyer” Seminars to help educate first time buyers on the home buying process. Generally in these seminars, there’s the Agent, Lender Rep, Home Inspector, Home Appraiser and Title Company Rep. and you learn what each provides in the buying process.  IF YOU TRUST THE LENDER that speaks, it’s totally your choice if you want to use them. Just be careful and take your time choosing your Lender and don’t allow your Agent’s relationship with a Lender be the only reason you choose that Lender. Do your own research and come to the conclusion yourself on which Lender you choose. 

Bill Cobb, Greater Baton Rouge’s Home Appraiser 

225-293-1500

http://www.homeappraisalsbatonrouge.com 


Original article link is here: 

Which Comes First the Realtor or the Lender?

 

See on www.bhamwiire.com

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