9th May 2012

Appraisals Can Offer Valuable Reality Checks for Sellers

posted in Appraiser News |

Chris Connors, SRA, of the Appraisal Institute’s Washington D.C. Metropolitan Area Chapter, was featured May 2 in The Washington Post, the nation’s 8th largest newspaper, in a consumer-focused article on whether sellers should obtain a professional appraisal before putting a house on the market.

The story reached a potential audience of more than 8.2 million subscribers and unique monthly online visitors.

Sellers and agents may not always agree on market price, so a full professional appraisal can be an important reality check for the seller. The article noted that Connors had finished an appraisal on a house where the seller previously had interviewed two real estate agents. The first agent suggested an asking price around $800,000; the second one recommended a price closer to $1.1 million.

“The seller was quite angry with me when my report supported the first estimate, and I told him the other guy just wanted to get the listing.” Connors said.

Also featured in national media coverage this past week were Eric Haims, MAI, and Daniel Aarons, Associate member, in Real Estate Weekly; Mark Linné, MAI, SRA, on FoxBusiness.com; and Joni Pilgrim, Affiliate member, in National Mortgage Professional Magazine.

These stories are among the recent media coverage included in the “AI in the News” feature on the members-only section of the Appraisal Institute website.

Appraisal Institute members appearing recently in local media coverage include Paul Carter, MAI, SRA, and Michael Clapp, MAI, Winston-Salem (N.C.) Journal; Steven Berg, MAI, SRA, Foster’s Daily Democrat, Portsmouth (N.H.) Herald and Chicago Tribune; John Brown, MAI, Eugene (Ore.) Register-Guard; Thomas Dehn, SRA, Stuart (Fla.) News; Kevin Talbott, SRA, Key West (Fla.) Citizen; Ed Morse, MAI, Spokesman-Review (Spokane, Wash.); Darrel Standard, Associate member, Beatrice (Neb.) Daily Sun; Mark Kenney, MAI, Lower Hudson Valley (N.Y.) Journal News; Claud Clark, Associate member, Mobile (Ala.) Press-Register; Cindy Carroll, SRA, Marco (Fla.) Eagle; Randolph Glennon, MAI, Mainebiz.com; Gary Crabtree, SRA, KGET-17 (NBC) and KBAK-29 (CBS), Bakersfield, Calif.; and Richard Hagar, SRA, KPLU-FM 88.5 (Seattle).

See the latest media coverage about the real estate valuation profession, the Appraisal Institute and its members. Media coverage at “AI in the News,” found on the member log-in page of the Appraisal Institute’s website, is updated daily and also includes the latest news releases from the Appraisal Institute.

Original Article : http://www.appraisalinstitute.org/ano/newsletter/DisplayNwsLtrArticle.aspx?volume=13&numbr=9/10&id=17818

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