Kevin Slemko of Midtown Appraisal Group on valuation factors

What goes into an appraised value?

It's not just a comparison to the house next door. It happens to every appraiser, often once a week: Someone involved in the property buying and selling process says something like "Yeah, this appraisal won't be that hard. The house across the street sold a month ago and it's pretty much the same layout, so we expect the value of our property to be about that price - well, a bit more probably, since prices are going up so fast!"…...
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Kevin Slemko, AACI on mortgage terms

Mortgage term lengths: Do you know your choices?

Appraisers aren't real estate salespeople or mortgage brokers, and definitely shouldn't be offering advice or counsel to the people whose properties they're appraising. However, as we've discussed before, because of our particular role in the process, and because they often end up meeting home buyers and sellers during their inspections, it's not surprising that we're often asked questions about home mortgages. A recent study showed that as much as 50% of Canadians don't really understand mortgage terminology, and aren't able…...
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