Latest news with #appraisal
Globe and Mail
02-06-2025
- Business
- Globe and Mail
One Appraisal Group Educates Consumers on Arizona Appraisal Services and Highlights Importance of Professional Appraisals in the Phoenix Area
One Appraisal Group emphasizes the value of certified appraisal services, providing insights to Arizona property owners and potential buyers navigating Phoenix's real estate landscape. One Appraisal Group, headquartered in Scottsdale, Arizona, focuses attention on the importance of professional appraisal services within Arizona's active real estate market. Due to increasing market activity and property value fluctuations, obtaining accurate real estate appraisals is recognized as a critical part of any real estate transaction or estate planning activity. Accurate and objective appraisals help individuals, businesses, and institutions confirm asset values and facilitate informed financial decisions. Appraisals provide an unbiased estimate of a property's true market value, conducted reliably and objectively by qualified professionals. In Arizona, where cities like Phoenix continue to experience dynamic real estate environments, expert appraisals from licensed Arizona appraisers remain crucial for accurate assessment in various market scenarios. One Appraisal Group offers specialized Arizona appraisal services, meeting diverse client needs ranging from home purchasing and refinancing transactions to tax assessments, insurance valuations, and property settlement disputes. Professional appraisal reports delivered by One Appraisal Group comply with Uniform Standards of Professional Appraisal Practice (USPAP), a national guideline that ensures consistency, transparency, and the highest level of ethical standards within the appraisal industry. Clients seeking reliable Appraisers Phoenix can trust the company's strict adherence to professional guidelines and regulatory requirements that safeguard their financial interests. More information about the company's complete suite of appraisal offerings can be found directly on the One Appraisal Group services webpage. The Phoenix real estate market has consistently been one of Arizona's most active and diverse regional markets. Recent market analyses indicate significant transaction volumes due to population growth, ongoing housing demand, and economic diversity within Phoenix and surrounding metro areas. Such factors underscore the relevance and importance of accurate Phoenix appraisal services for buyers, sellers, financial institutions, and property management professionals. One Appraisal Group maintains a client-focused approach, providing detailed information to educate property owners, real estate agents, investors, and lenders about the methodology and criteria applied in property evaluations. For consumers who may be unfamiliar with the appraisal process, this educational approach assists in setting realistic pricing expectations and preparing stakeholders clearly for marketplace opportunities or negotiations. By leveraging years of appraisal experience combined with an in-depth knowledge of local market dynamics, One Appraisal Group provides market-specific appraisals tailored specifically for Arizona property types and conditions. Given varying macroeconomic conditions, including interest rate shifts and regional real estate trends, appraisal accuracy and timeliness remain critical for securing funding, facilitating sales, or achieving strategic real estate goals. Industry studies indicate that third-party professional appraisals, especially from providers with state-specific expertise, are pivotal in resolving complex financial decisions or transactional conflicts. Accurate valuation inherently supports fairness in lending and borrowing activities, settlement processes, insurance underwriting, and asset management portfolios by creating trusted reference points. In addition to residential appraisals, One Appraisal Group serves the Arizona marketplace by providing appraisals for commercial property, land valuation, multi-family residences, probate matters, and divorce settlements. Further understanding of these evaluation categories, including how appraisals directly benefit specific property categories and circumstances, can be gained through One Appraisal Group's ongoing consumer outreach efforts focused on transparency, clarity, and objective evaluation standards. Property appraisal remains a foundational aspect of sound property investment and management, reflecting fair-market data and comprehensive property-specific insights. Property owners, developers, and consumers rely on accurate evaluations from credible, certified appraisers to avoid costly valuation errors or misconceptions regarding true market conditions and property potentials. One Appraisal Group continuously provides educational resources and remains committed to maintaining professional standards within Arizona's appraisal industry, positioning itself as a reliable resource for Arizona appraisal clients seeking clarity, expertise, and trusted valuation services through certified Arizona appraisers. About One Appraisal Group Based in Scottsdale, Arizona, One Appraisal Group specializes in providing professional residential and commercial appraisal services throughout Arizona, notably within the Phoenix metropolitan area. Utilizing experienced licensed appraisers who follow strict ethical and professional guidelines, the company provides accurate, thorough property valuations covering diverse appraisal categories including residential sales, refinancing, commercial transactions, estate valuations, and legal or regulatory appraisal requirements. For more information, please visit Media Contact Company Name: One Appraisal Group Contact Person: Mike Email: Send Email Country: United States Website:
Associated Press
19-05-2025
- Business
- Associated Press
Dart Appraisal Appoints Michael Dresden CEO
TROY, MICHIGAN / ACCESS Newswire / May 19, 2025 / Dart Appraisal, a nationwide independent appraisal management company (AMC), has officially appointed Michael Dresden as its new Chief Executive Officer. He is only the second individual to occupy this role in the company's 32-year history. In his new position, Michael will oversee all company operations and spearhead ambitious growth initiatives. Career Journey Michael joined Dart Appraisal in 2009 as the Director of Operations. Since becoming President, he has driven significant growth through a combination of onboarding new clients and strengthening relationships with existing ones. Under his leadership, the company has successfully acquired three AMCs since 2018, broadening Dart's footprint in the Commercial appraisal sector and setting up offices in Georgia and New Jersey. In recent years, Dresden initiated the expansion and development of Dart Appraisal's executive management team while remaining dedicated to enhancing the company's culture and core values for all employees. 'It is an honor and a privilege to come to work every day and lead this amazing company,' Dresden expressed. 'I'm incredibly proud of everything the Dart team has achieved over the past 16 years, and I'm thrilled about what lies ahead for our company.' Commitment to Growth Dart is focused on becoming the leading Appraisal Management Company by concentrating on four essential pillars: Dresden, a certified Six Sigma Green Belt and licensed real estate appraiser, earned his Bachelor of Science degree from Illinois State University. In 2024, he was recognized as an Industry Titan by National Mortgage Professionals magazine and serves on the board of the Michigan Mortgage Leaders Association. He currently resides in Birmingham, Michigan. Contact Information Lon Bollenbacher VP, Marketing [email protected] SOURCE: Dart Appraisal press release
CBS News
13-05-2025
- Business
- CBS News
Deadline looms to appeal North Texas property tax appraisals
A Thursday deadline looms for Texas homeowners who want to appeal their 2025 property tax appraisals. In Tarrant County, homeowners who are supposed to see a freeze on their appraisals should still appeal, according to property tax consultants. Tarrant County homeowners recently received cards in the mail from the appraisal district stating that their property values would be frozen again this year, which should be good news. But tax consultants said it's not necessarily good news if you have a homestead exemption, which a lot of people do. Chandler Crouch is a real estate broker and property tax consultant who says he handles 40,000 appeals a year from homeowners in Tarrant County. He said the Tarrant Appraisal District froze the market value of homes this year, and they will remain the same as last year. However, Crouch said the appraised value for those with homestead exemptions can still go up as much as 10%. He's worried that a lot of homeowners will be misled by their appraisals and choose not to appeal, costing them money by only looking at the market value. "That's just one value, the value they actually pay taxes on, that's going to go up a maximum of 10% like it does every year and there's nothing you can do about that except for protest," said Crouch. "So that's the message that everybody needs to hear: go protest. Absolutely, tons of people will leave money on the table." The deadline to appeal 2025 property tax appraisals is May 15.
Yahoo
08-05-2025
- Business
- Yahoo
He was ready to pay $750,000 for his new house. Then the appraisal came in.
Patrick Haley never thought he would be arguing to pay more for a house than it was supposedly worth. Haley, who works in home-construction technology, was in the process of relocating from Texas to North Carolina a few weeks ago when he found his dream home in Charlotte. The $750,000, four-bedroom home spanned 2,700 square feet and backed into a state park. My second wife says her 2 kids should inherit our estate, but I also have 2 kids. Is that fair? 'I am scared to death that I'll run out of money': My wife and I are in our 50s and have $4.4 million. Can we retire early? Markets are resilient — but this bank says it could fall apart quickly. 'Fundamentals remain dire.' My father is giving me $250K to buy a home, but told me not to tell my two siblings. Am I morally obligated to tell them? Suze Orman says retirees should have a 5-year 'just-in-case' fund. Is this true? Haley wanted to be close to family, so he didn't mind the steep price tag, part of which would be covered with proceeds from the sale of a previous home he had sold in San Antonio. What he did mind was the appraisal gap. The property appraiser, sent by the lender he was working with, had determined the market value of the home he wanted to buy was just $698,000 — $52,000 less than what he had agreed to pay the seller. That wouldn't work for Haley. Lenders need to know the value of a home as a safeguard to ensure that they don't overextend loans for more than they are worth. And with the appraised value being lower than the asking price, that left Haley with a gap. He could only take out a mortgage for $698,000, and as the asking price was $52,000 more, he would need to pay the remainder out of his own pocket. 'I also disagreed with that appraisal,' Haley told MarketWatch. The property's proximity to a state park made it unique. Not many properties like that came up for sale often, he said, so there were no comparable sales on which to base the home's value. Haley's experience shows how tricky the home-appraisal process can be at a time when home sales have stalled, partially due to a lack of homes on the market. At the same time, since the market has become less competitive, more buyers are finding they have more time to spend on the appraisal process to make sure they are getting a fair price. In March, the National Association of Realtors saw a fall in the share of buyers skipping an appraisal contingency to 19% from 24% the previous month. An appraisal contingency is a clause that allows the buyer to back out of a deal if the property is appraised at less than the price they agreed to pay the seller. In other words, it's a way for buyers to avoid overpaying for a house. During the pandemic, it was more common for buyers to skip the appraisal contingency to expedite the process of buying a home. But in general, waiving the appraisal contingency is not a good idea, real-estate experts told MarketWatch. 'For cash buyers, it is the buyer's decision,' Lawrence Yun, chief economist at the NAR, told MarketWatch. Nevertheless, an appraisal contingency is 'generally advisable unless the property is clearly considered underpriced or multiple offers are expected.' In most cases, such as Haley's, the lenders require an appraisal before they can originate a loan. 'Most appraisals are at the lender's request to ensure the loan amount given is not too much,' Yun said. They will require the buyer to pay the cost of the appraisal, which can be between $300 and $500, according to an analysis by LendingTree TREE, a comparison-shopping site. An appraiser looks at various aspects of a home to gauge its value. These can include the condition the home is in, the square footage and recent home sales in the neighborhood. Appraisals can be a sensitive process for sellers to navigate. Homeowners who are selling have particularly strong feelings about appraisals that come in lower than they expect. 'Homeowners are very often very emotional, and what they think moves the needle doesn't move the needle at all,' Megan Judd, an Orlando, Fla.-based home appraiser and owner of Metropolis Appraisal Services, told MarketWatch. Judd, who's been appraising homes for over 30 years, says the length of time an appraisal takes depends on the property. If she's evaluating a home that is newly constructed and fairly straightforward, such as a tract home, she would take an hour to do research before she gets to the house, 45 minutes to look through it, 45 minutes to drive around the neighborhood and take photos of comparable properties, and then three to four hours to type the appraisal report out. 'And that's a very simple one,' Judd said. 'I tend to spend a workday and a half, maybe 10 to 12 hours on a complex property — such as if it's a lakefront property … or anything out of the ordinary.' The appraisal gap is slightly more common among small homes. Roughly 9% of homes in the closing process were appraised below the contract-sales price, according to a report by Cotality that looked at home sales in June 2024, the latest month for which data were available. Nearly a tenth of starter homes were appraised below the contract-sale price, the report said, versus 7.1% of more expensive homes. The fact that the appraisal gap is higher among starter homes could reflect 'a higher risk of overpayment by inexperienced first-time home buyers,' the company said. Back in North Carolina, the homeowners who were selling their home to Haley were also facing the possibility of their home being undervalued. Haley, who was a repeat buyer, was not pleased with the number the appraiser came up with, and didn't think they had done a very thorough job. The person from the appraisal company 'never set foot in the home,' Haley said, and didn't stray farther than 20 feet from where their car was parked outside. He theoretically had two choices at this point: Either walk away from the home and start looking for another, or get another lender and hope for the home to be appraised at a higher price. But giving up wasn't in the cards. Haley needed the appraisal to get the mortgage. He wasn't in a rush, since the home was being sold off-market by the owners, whom he knew through a family member. He was told to try a different lender, so he went to a local one. After Haley switched from a national mortgage lender to a local lender that did its own appraisal, the difference was day and night. 'Everyone wants my business, so they probably told me what I wanted to hear,' he said, 'but at the same time, they were really helpful' in terms of explaining what they said was their different approach to valuing homes like the one he sought to buy. One way in which this new appraisal differed: The appraiser sent by the local lender looked at homes sold in the neighborhood over a longer period of time since there were few comparable transactions in recent years, rather than looking at homes sold recently in the surrounding areas, some of which were pretty far away. 'I don't think a home in that neighborhood has sold for the last five years,' Haley said, 'so there was no direct comparison.' The lender ended up appraising Haley's dream home for $785,000 — $100,000 more than what the national lender had estimated — which meant he could get a conventional mortgage to cover the price of the home. Haley is currently under contract for the property. 'We were able to come up with what I thought was a more just appraisal,' Haley said. What personal-finance issues would you like to see covered in MarketWatch? We would like to hear from readers about their financial decisions and money-related questions. You can fill out or write to us at . A reporter may be in touch to learn more. MarketWatch will not attribute your answers to you by name without your permission. My eldest son refused to share his father's $500K inheritance with his siblings. Should I cut him off? I'm 65 and a widow with 5 children. Should I split my $1.1 million nest egg between them while I'm still alive? Legendary investor Bill Miller on why the worst is over for stocks, Amazon's a buy and Tesla isn't How investors should think about Berkshire's stock price without Buffett The U.S. economy might be able to handle any disruption from Trump's tariffs more easily than Wall Street expects
