D/FW Residential Real Estate Appraiser

[LFD2037]

I need a residential real estate appraiser in the D/FW metromess. Anybody on here one or can recommend a good one?
Thanks!

[LFD2037]

Had a realtor pull comps and give her best estimate. She had a $75K variance between her low and high in the $400’s. Will an appraiser be able to dial it in a bit better than that?

[Rotney]

With the shortage of housing it will turn into a bid situation no matter what you list it for. My friend in McKinney listed her house on a Thursday afternoon 3 weeks ago, had 21 appts set for Friday. At 12 noon she received an all cash offer for 45k more than she was asking and that was one of the4 offers she had on Friday. She had it listed for $345k and the realtor told her it would sell between $380-$400k.

And it did.

[Spearchunker]

Had a realtor pull comps and give her best estimate. She had a $75K variance between her low and high in the $400’s. Will an appraiser be able to dial it in a bit better than that?

Yes, but the appraiser factor is a variable as well. They all view property a little differently. Most buyers are forced to sign a appraisal waiver meaning regardless of appraisal buyer will come up with the money. Because most DFW home sales are over appraisal right now. This is causing appraisers to be more cautious and conservative to CYA if market crashes and over valued appraisals are on bank sheets. They can be held liable.

Not sure this has anything to do with your situation. The one I do know is covered up with work. He will see this post and chime in if he has time to help ya bud.

[texan4ut]

Yes, but the appraiser factor is a variable as well. They all view property a little differently. Most buyers are forced to sign a appraisal waiver meaning regardless of appraisal buyer will come up with the money. Because most DFW home sales are over appraisal right now. This is causing appraisers to be more cautious and conservative to CYA if market crashes and over valued appraisals are on bank sheets. They can be held liable.

Not sure this has anything to do with your situation. The one I do know is covered up with work. He will see this post and chime in if he has time to help ya bud.

That's not entirely true. I am an appraiser in the Austin and I am not appraising any different as in more conservative because of what might happen down the road. My job is recognize the current market then adapt by using comps that are far more recent than the 6 month window we have. I am appraising the home at it's current market value as of the day I inspect it. If six months from now the market crashes and the home value drops that has nothing to do with what I appraised it for at xx date and had good market data to back up my findings. As far a DFW yes an appraiser should be able to be a little more accurate than the realtor since the appraiser will have inspected your home and then can pin point more similar comps than a Realtor that will just use all comps in an area.

[3ChordTruth]

That's not entirely true. I am an appraiser in the Austin and I am not appraising any different as in more conservative because of what might happen down the road. My job is recognize the current market then adapt by using comps that are far more recent than the 6 month window we have. I am appraising the home at it's current market value as of the day I inspect it. If six months from now the market crashes and the home value drops that has nothing to do with what I appraised it for at xx date and had good market data to back up my findings. As far a DFW yes an appraiser should be able to be a little more accurate than the realtor since the appraiser will have inspected your home and then can pin point more similar comps than a Realtor that will just use all comps in an area.

Maury, a thoughtful, easy to understand explanation that providing an estimate of the “as is market value of the real estate” is your assignment. Good luck, and I hope all your comps are close, recent and similar.

[LFD2037]

With the shortage of housing it will turn into a bid situation no matter what you list it for. My friend in McKinney listed her house on a Thursday afternoon 3 weeks ago, had 21 appts set for Friday. At 12 noon she received an all cash offer for 45k more than she was asking and that was one of the4 offers she had on Friday. She had it listed for $345k and the realtor told her it would sell between $380-$400k.

And it did.

That’s pretty much what the realtor said. List it at the lower end of the spread and they’ll run it up in a bid war. I’d still like to get an actual appraisal before moving forward.

[MD2TX]

The Californians are over paying for everything- all cash

[LFD2037]

Nobody is, or knows, an appraiser in D/FW?
Thanks!

[DFWPI]

Had a realtor pull comps and give her best estimate. She had a $75K variance between her low and high in the $400’s. Will an appraiser be able to dial it in a bit better than that?

That's a big difference. Is that the Realtor you are using?

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[DFWPI]

Nobody is, or knows, an appraiser in D/FW?
Thanks!

I will reach out to some that have appraised homes we've listed to see.theor schedule. Now, FYI, not sure if holds true for a private appraisal, but been told by others we've had listed that the appraisal sticks with a home for about six months, but might not in this circumstance.

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[Preacher Man]

I will reach out to some that have appraised homes we've listed to see.theor schedule. Now, FYI, not sure if holds true for a private appraisal, but been told by others we've had listed that the appraisal sticks with a home for about six months, but might not in this circumstance.

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Private appraisals don’t stick with a home for any amount of time. Sounds like you might be referring to an FHA rule. But not a private appraisal

[DFWPI]

Private appraisals don’t stick with a home for any amount of time. Sounds like you might be referring to an FHA rule. But not a private appraisal

K

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[LFD2037]

That's a big difference. Is that the Realtor you are using?

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Not sure if the house will be sold or if I’ll be bought out of my portion with no sale.

[LFD2037]

I’m going to give this a final Sunday bump then I guess I’ll look elsewhere for an appraiser. Hard to believe out of all the people we have on here, none are an appraiser!