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Get Information Regarding Home Appraisal Values

Get Information Regarding Home Appraisal Values

The value of home valuation has decreased from a number of years ago. Many lenders have moved to national appraisal companies in an effort to bring consistency to the value of home valuations. Below, we provide useful tips that refer to the valuation of housing and things you must remember.

It is important to remember if this property is built excessively for the area: its unique size, number of bedrooms or other unique factors, it is not allowed to just adjust to functioning. Similar companies are the key to allowable adjustments. Apart from being similar in aesthetics, they must be within a reasonable distance depending on the area. You can ‘find more information about value housing from’(which is also known as ‘finn mer informasjon om verdi boliger fra’ in the Norwegian language).

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Page 1 of Appraisal 

Declining market

· Oversupply

· Marketing time of more than 6 months

· This is usually not acceptable

Page 2 of Appraisal

1) Distance Comps

2) All adjustment boards on the company

· If all companies have adjustments such as for collections, this is not acceptable.

3) Values that are considered to be locked up by comps

· If you have 3 comps with customized values that are far apart – this is not acceptable.

· Value cannot be based on the company list. List of comps is to support values.

· Values cannot be above the adjusted value of comps

The value of a home loan depends on environmental factors and the ability of the appraiser to find a comparable within a reasonable distance that has been sold within a reasonable period of time. 

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