Land Appraisals: What You Need to Know
Land appraisals are complex. They involve evaluating various factors and applying specific valuation methods to arrive at a fair market value. With so many things to consider, it’s no wonder the Akrivis team often encounters questions about how appraisers value land, which methods they use, and various other requirements. To help you better understand what […]
What Is A Hybrid Appraisal
A hybrid appraisal is a real estate valuation approach that combines aspects of both traditional appraisals and automated valuation models (AVMs). In a hybrid appraisal, a third party inspector typically conducts an full interior and/or exterior inspection of the property to assess its condition and surroundings. They then use digital tools and data sources, such […]
The Quick Real Estate Valuation Glossary
A lot of lingo is thrown around in the real estate and financial markets that can sometimes be confusing. And our team of experts is here to help share their knowledge. We’ve compiled a glossary of real estate valuation terms that are important for lenders, fiduciaries, attorneys, and property owners who are trying to understand […]
A Quick Guide to Property Data Collection
In the realm of real estate, the foundation of informed decision-making lies in accurate property data. Enter Property Data Collection (PDC) — the systematic process of observing and reporting property characteristics in a fact-based manner. Let’s explore the intricacies of PDC, its significance, key requirements, and why it matters in the world of real estate. […]
Modern Appraisal Methods: How the Game is Changing
In the dynamic landscape of real estate, the traditional methods of property appraisals are undergoing a significant transformation. This appraisal evolution is driven by the integration of cutting-edge technologies such as machine learning algorithms, artificial intelligence, and automated valuation models (AVMs). Let’s look at how appraisal modernization has evolved from on-site visits to today’s technology-driven […]
What Is a Drive-By Appraisal?
When it comes to lending practices, institutions have many options to choose from to mitigate risk and find property values. A Standard Uniform Appraisal Report is not necessary with every property purchase. One alternative to the conventional appraisal report is an exterior appraisal – most known as a drive-by appraisal. A drive-by appraisal, true to […]