The number of Arizona real estate appraisers could decrease at a rate of 3% per year over the next decade. According to the Appraisal Institute, the pool of real estate appraisers in the United States is shrinking and aging. Sixty-two percent of appraisers are 51 and older while 24% are between 36 and 50. Only …
Vacancy rates trended lower for fifth consecutive year in 2015 The chart below presents statistical data in the fourth quarter of 2015 for Class A, Class B and Class C office space in Metro Phoenix related to total inventory, vacancy, vacancy rates, net absorption, and average rental rates. Note that the Class A category had …
Many economists believe this year’s surge in homebuilding is beginning to look more and more like a real recovery of the Valley’s new-home market. New Home Permits Issued in July 2015 are 55% Higher than Prior Year The Phoenix Housing Market Letter published by RL Brown and Greg Burger reports that: New home sales were …
“Home sales across metro Phoenix are on track to jump more than 30 percent during the next few months, potentially signaling the restart of the area’s stalled housing recovery.” Cathy Reagor, Arizona Republic Although Valley home sales fell 14% in 2014, many economists and real estate experts are looking forward to a substantial increase in …
The most common type of real estate appraisal assignment is the formulation of an opinion of market value. The following information describes each step of the appraisal process. Identification of the Assignment Parameters The appraiser will identify the client, intended users and use as well as the purpose. A crucial element to any appraisal is …
A real estate appraisal is an opinion of market value formed by a professional appraiser. The process involves specific market area research, analysis of significant information relevant to the property, specialized expertise and impartial judgment regarding the value of the property. To begin your search, ask for referrals from an accountant, attorney, real estate agent …