Find local real estate meetups and events in your area. Example: Comp #l has a 1-car garage and sold for $70,000. Appraisals are needed to ensure the homebuyer, the home seller and the mortgage lender receive the accurate and true value of the real estate in question. One claims to have a 97% list-to-sell average while the other claims to have a 96% list-to-sell average. 13. The Current Real Estate Market. Your house is … Multiply all denominators together (the bottom number of the fraction): 2 x 4 x 4 = 32. It doesn’t affect the answer. Appraiser ... “Real estate agent”: generic term for person who sells real estate (broker or salesperson) Divide 640 by that answer, 640 / 32 = 20 acres. Homes appraised during a “seller's-market”, or a market that’s saturated with a ton of buyers and not enough inventory to … 3. Math Real Property Appraisals Mingle School of Real Estate – 2016 1 Math Relating to Real Property Appraisals 1. Start analyzing real estate properties, we do the math for you. Every state requires real estate agents to have a license — and to take and pass a state examination to get that license. This may or may not be the same as its price. Share. Home Appraisals for Dummies. Your home is the place you reside in and share with loved ones. What is Real Estate Value and Valuation - dummies. Lucy is interviewing real estate agents before she lists her home for sale. Aol Real Estate Contributor, AOL.com. This method converts the income of a property into an estimate of its value. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. by Eric Tyson and Robert S. Griswold Real Estate Investing FOR DUMmIES‰ 2ND EDITION Sales Comparison Approach A. A method that will be covered on the Real Estate License Exam for appraising real estate based on its income is known as the income capitalization approach. A real estate appraiser inspects the property, but this step isn’t the same as a home inspection commissioned by a buyer. Connect with 1,000,000+ real estate investors! Dec 9th 2010 1:43PM. You need to cover a lot of ground in preparation for the test, but your efforts are well rewarded by a fun, exciting career. an appraisal. Question 14 14. Houses (12 days ago) Real estate appraisal or property valuation is the process of determining what a property is actually worth. Taking a state real estate exam is necessary for becoming a licensed real estate agent. Finally, the current real estate market has a large influence on how your home is appraised. Appraisers go under different names depending on where you are in the world; real estate appraiser, property valuer, and chartered surveyor are the most common names. Additionally, the appraiser may look at county courthouse records and recent reports from the local real estate multiple listing service. 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