Appraiser ... “Real estate agent”: generic term for person who sells real estate (broker or salesperson) Lucy is interviewing real estate agents before she lists her home for sale. Taking a state real estate exam is necessary for becoming a licensed real estate agent. 13. an appraisal. 3. What is Real Estate Value and Valuation - dummies. Homes appraised during a “seller's-market”, or a market that’s saturated with a ton of buyers and not enough inventory to … One claims to have a 97% list-to-sell average while the other claims to have a 96% list-to-sell average. It doesn’t affect the answer. Appraisals are needed to ensure the homebuyer, the home seller and the mortgage lender receive the accurate and true value of the real estate in question. Dec 9th 2010 1:43PM. Sales Comparison Approach A. You need to cover a lot of ground in preparation for the test, but your efforts are well rewarded by a fun, exciting career. A real estate appraiser inspects the property, but this step isn’t the same as a home inspection commissioned by a buyer. A method that will be covered on the Real Estate License Exam for appraising real estate based on its income is known as the income capitalization approach. Your house is … Houses (12 days ago) Real estate appraisal or property valuation is the process of determining what a property is actually worth. Start analyzing real estate properties, we do the math for you. Math Real Property Appraisals Mingle School of Real Estate – 2016 1 Math Relating to Real Property Appraisals 1. Example: Comp #l has a 1-car garage and sold for $70,000. Appraisers generally use this method for commercial buildings such as shopping centers, office buildings, […] Find local real estate meetups and events in your area. 2. Divide 640 by that answer, 640 / 32 = 20 acres. Home Appraisals for Dummies. This may or may not be the same as its price. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. by Eric Tyson and Robert S. Griswold Real Estate Investing FOR DUMmIES‰ 2ND EDITION Question 14 14. The Current Real Estate Market. If the comparable property is superior in a feature, you subtract value from the comparable. Share. This method converts the income of a property into an estimate of its value. Connect with 1,000,000+ real estate investors! A home appraisal is an unbiased report on the worth of a house in the fair market, performed by a trained and licensed individual. Your home is the place you reside in and share with loved ones. The appraiser gathers information for the appraisal report from a number of sources, but the process often begins with a physical inspection of the property inside and out. Aol Real Estate Contributor, AOL.com. Additionally, the appraiser may look at county courthouse records and recent reports from the local real estate multiple listing service. Multiply all denominators together (the bottom number of the fraction): 2 x 4 x 4 = 32. Every state requires real estate agents to have a license — and to take and pass a state examination to get that license. Appraisers go under different names depending on where you are in the world; real estate appraiser, property valuer, and chartered surveyor are the most common names. Finally, the current real estate market has a large influence on how your home is appraised. For becoming a licensed real estate appraisal or property Valuation is the you... By Eric Tyson and Robert S. Griswold real estate agents before she her. Is real estate agents to have a license — and to take and a. A 1-car garage and sold for real estate appraisals for dummies 70,000 county courthouse records and recent reports from the local real appraiser. This may or may not be the same as its price value from the comparable property is superior a. 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