What is Real Estate Value and Valuation - dummies. Multiply all denominators together (the bottom number of the fraction): 2 x 4 x 4 = 32. Appraiser ... “Real estate agent”: generic term for person who sells real estate (broker or salesperson) by Eric Tyson and Robert S. Griswold Real Estate Investing FOR DUMmIES‰ 2ND EDITION 3. Share. Start analyzing real estate properties, we do the math for you. 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. Example: Comp #l has a 1-car garage and sold for $70,000. A home appraisal is an unbiased report on the worth of a house in the fair market, performed by a trained and licensed individual. It doesn’t affect the answer. Every state requires real estate agents to have a license — and to take and pass a state examination to get that license. If the comparable property is superior in a feature, you subtract value from the comparable. Math Real Property Appraisals Mingle School of Real Estate – 2016 1 Math Relating to Real Property Appraisals 1. an appraisal. Lucy is interviewing real estate agents before she lists her home for sale. Dec 9th 2010 1:43PM. Your home is the place you reside in and share with loved ones. The appraiser gathers information for the appraisal report from a number of sources, but the process often begins with a physical inspection of the property inside and out. This method converts the income of a property into an estimate of its value. This may or may not be the same as its price. Home Appraisals for Dummies. Houses (12 days ago) Real estate appraisal or property valuation is the process of determining what a property is actually worth. Appraisers generally use this method for commercial buildings such as shopping centers, office buildings, […] 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. The Current Real Estate Market. Finally, the current real estate market has a large influence on how your home is appraised. A real estate appraiser inspects the property, but this step isn’t the same as a home inspection commissioned by a buyer. 2. One claims to have a 97% list-to-sell average while the other claims to have a 96% list-to-sell average. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. You need to cover a lot of ground in preparation for the test, but your efforts are well rewarded by a fun, exciting career. Your house is … Question 14 14. Divide 640 by that answer, 640 / 32 = 20 acres. Aol Real Estate Contributor, AOL.com. 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