The Helical Foundation part of this description that I’m fastening on is “ the most probable price ”. Not the loftiest possible price., the most probable. As was lately refocused out on the Voice of Appraisal with Phil Crawford lately, “ Possibilities and chances are two completely different effects ”. Prior to the HVCC, it wasn’t uncommon for pundits to be asked by loan officers, “ What’s the loftiest value you can estimate this property for? ”.
The HVCC excluded much of that by adding a subcase of protection( and in- accordingly taking a chainsaw to our standard freights). still, there were still pundits that would foundation repair Utah search the neighborhood and cherry pick a many of the loftiest deals in an trouble to support the purchase price. still with the CU, if only the 3 similar deals with the loftiest deals prices are used, the CU will most probably bring that to the attention of the lender,
who could in turn bring it to the attention of the appraiser However, the reviewer better have support and be prepared to explain why their value is at the upper end of the range, If you’re setting a home that has 10 analogous deals in the neighborhood and you use the three loftiest. That isn’t to say that in certain circumstances it shouldn’t be at the upper end of the range( superior condition, superior quality of construction, larger lot size, superior view, larger GLA, etc). But if the subject is in the middle of the range when compared to the similar deals in terms of numerous of the factors that affect value.
GLA, condition, quality of construction, bed and bath count, Utah foundation view, position, basement area and finished basement area, lot size, etc), also the final opinion of value shouldn’t be at the extreme high or low end of the range. Again, our job is to determine the most PROBABLE price the property would vend for, not the loftiest POSSIBLE price. This should also help keep instinctively inflated appraisals out of the refinance and home equity requests.
the range( superior condition, superior quality of construction, larger lot size, superior view, larger GLA, etc). But if the subject is in the middle of the range when compared to the similar deals in terms of numerous of the factors that affect value. How this plays out over the long term remains to be seen. I know most pundits have much bigger enterprises with CU and how it’ll impact our profession in the short and long term, as do. It’s just that these issues have have all been written about by other pundits. I just allowed I would suggest a reconsidering of the description of request value. The “ utmost probable and not loftiest possible ” portion of the description is also commodity that pundits can point out to educate your guests and indeed real estate agents when your opinion of value is below a contract price.
