16 Jan New Year Overview and Graphs
I hope everybody is off to a great 2020 start! After some much needed time off, I feel refreshed and excited about this upcoming year.
Real Estate Office Meetings:
Last year, I went into some real estate offices and did Q&A at meetings. This platform was beneficial and we were able to discuss a handful of topics. I plan on doing more of this in 2020. If this is something you’d like to explore, please reach out and connect with me.
Private Assignments:
I’ve continued to complete more private appraisal work. In fact, over 20% of the work I completed in 2019 was private and has been increasing year over year. Most of this work is related to Estate, Retrospective (date of death), and Divorce assignments. Another small percentage are homeowners getting an appraisal as they are considering selling and/or agents getting a secondary opinion on a property. Sometimes there is a difference of opinion between agents and owners and a 3rd neutral party can provide some guidance.
A good percentage of these assignments are referrals from agents and attorneys and I thank you for that!
Market Charts:
Below are a few market charts in some market areas that I have recently completed assignments.
Foresthill
Grass Valley 95945
Regarding Foresthill, the chart shows data over the past 6 months for all SFRs. The average DOM for sales was 64 days with pending sales and active listings higher at 115 and 80.
The second chart is from Grass Valley zip 95945. The average DOM for sales was less at 45 days, but followed the same trend as above.
This is something to monitor and helps seller’s realistic expectations when listing a home. Pricing and expectations on realistic time frames are increasingly important. This could also be seasonally related as we are in winter months; however, I noticed the DOM increasing in many areas throughout 2019.
Bryan Lynch
Certified Real Estate Appraiser
Office: 530-878-1688
Bryanclynch@gmail.com
Roseville Office : Auburn Office
www.AdvantageAppraisalsCa.com
Disclaimer: All information deemed reliable but not guaranteed. The information is meant entirely for educational purposes and casual reading only and is NOT intended for any other use. This information is NOT intended to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or other potential real estate or non real estate purpose. This appraiser is NOT a qualified home inspector and any tips are for informative purposes only. If you’d like to obtain and order an appraisal for your specific needs, please contact Bryan at 530-878-1688 for more information.
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