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What You Should Know About Home Appraisals W/ Christian Jackson
On today’s episode we’re joined by Chris Jackson, owner and appraiser from Jackson Appraisal Group based in Lanham, Maryland. He is also the owner of the real estate sales company The Jackson Group. Chris got his start in the world of real estate around 2004, when he bought his first house in Washington D.C. He began learning more about flipping and investing but, after a brief stint flipping in Florida, realized he enjoyed the real estate industry but not the ups and downs of investing. When he discovered the world of appraisals, he knew it was the path for him.
Chris defines an appraisal as an opinion from a licensed professional about the most probable price of a particular property based on market value. Recent sale prices are the biggest thing an appraiser looks at to determine value. This includes properties within a particular neighborhood which have sold most recently. An appraiser must have a grasp on what is happening within the market today. There are a lot of differences to take into account when appraising a property. One of the biggest things that can negatively impact a home’s value is the condition it’s in. Chris breaks down the various condition levels commonly used by appraisers. Then, he speaks of comparables and how far they can be taken. Additionally, they discuss the difference between an appraiser and a home inspector. While an inspector will investigate things like the mechanics and foundation of a house, an appraiser typically just does a walkthrough. An appraisal is based solely on market trends and the probability of what buyers are willing to pay.
Shawn wraps up today’s episode with a few closing thoughts for listeners to hold on to. Despite the struggles of the last year, things will get better for all of us. Finally, don’t hesitate to reach out to him or Chris if you have any further questions or are looking for more connections in the industry.
Don’t forget to like, share, and subscribe!
Links:
Connect with Chris on Instagram.
Visit The Jackson Appraisal Group’s website.
Learn more about Shawn’s company Fortis Mortgage.
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By Shawn C. Williams
5
11 ratings
On today’s episode we’re joined by Chris Jackson, owner and appraiser from Jackson Appraisal Group based in Lanham, Maryland. He is also the owner of the real estate sales company The Jackson Group. Chris got his start in the world of real estate around 2004, when he bought his first house in Washington D.C. He began learning more about flipping and investing but, after a brief stint flipping in Florida, realized he enjoyed the real estate industry but not the ups and downs of investing. When he discovered the world of appraisals, he knew it was the path for him.
Chris defines an appraisal as an opinion from a licensed professional about the most probable price of a particular property based on market value. Recent sale prices are the biggest thing an appraiser looks at to determine value. This includes properties within a particular neighborhood which have sold most recently. An appraiser must have a grasp on what is happening within the market today. There are a lot of differences to take into account when appraising a property. One of the biggest things that can negatively impact a home’s value is the condition it’s in. Chris breaks down the various condition levels commonly used by appraisers. Then, he speaks of comparables and how far they can be taken. Additionally, they discuss the difference between an appraiser and a home inspector. While an inspector will investigate things like the mechanics and foundation of a house, an appraiser typically just does a walkthrough. An appraisal is based solely on market trends and the probability of what buyers are willing to pay.
Shawn wraps up today’s episode with a few closing thoughts for listeners to hold on to. Despite the struggles of the last year, things will get better for all of us. Finally, don’t hesitate to reach out to him or Chris if you have any further questions or are looking for more connections in the industry.
Don’t forget to like, share, and subscribe!
Links:
Connect with Chris on Instagram.
Visit The Jackson Appraisal Group’s website.
Learn more about Shawn’s company Fortis Mortgage.