Archive for the appraisals Category

Smoke Alarms, CO Detectors and Woodstoves, OH MY!

"Lions and Tigers and Bears - OH MY!" from The Wizard of Oz You are probably aware that the state of Oregon has certain requirements prior to passing property.  These regulations now include smoke alarms, CO detectors and wood stoves!!  If you've been in your home awhile, it might be a good idea to check the status of all these whether you are planning on selling or not, for your own safety!!  Not only does the state require this as part of the sales process, but now underwriters for the loan in process will require proof that these items meet current requirements.  (I've even had app… Read More

Gettin’ Real … How Appraisal Values are Determined on the Sale of Real Property!

Shaggy - "Keeping it Real" Many times buyers, sellers and realtors scratch their heads and wonder “how did the appraiser come up with THAT value”?   Some of those reasons are listed below for your aid in understanding what appraisers have to do.   Appraisers are typically requested to include the 4 most relevant sales and 2 most directly competing listings or pending sales (although they do not impact value). 2 sales of the 4 most relevant that have been closed in the past 90 days. Appraisers are allowed to extend beyond typical distance and time para… Read More

How Real Property is Taxed in the State of Oregon!!

The Love of Money - The O'Jays I am often asked about property taxation in the state of Oregon.  It is a bit complicated and doesn't always make sense or seem fair, however here is the breakdown. The amount of property tax you pay is based on two things:  1) the assessed value of your property and 2)  the amount of taxes that each taxing district is authorized to raise. A property's assessed value is the lower of its real market value (RMV) or maximum assessed value (MAV).  Each year, the county tax assessor's office determines the property's real market value and calculates its ma… Read More

The Price and Value Conundrum in Real Estate Sales + Repairs and More!!

Jethro Tull - "Conundrum" The good news is our local Portland Metro real estate market has continued to experience a "steady-eddy" recovery since December 2011.  Anxious buyers are on the lookout for well-priced, good condition properties and long to take advantage of these historically low, low interest rates.  So, other than lack of inventory (a seemingly chronic lack of inventory, I might add), what do Realtors have to whine about now???  It's the appraisal and underwriting process!!!  I wrote about this prior in a January 2012 article and it continues. “We’ve come a long wa… Read More