new construction

I have an order where the lender request an as-is value, come to find out that the owner has started a remodeling project and has already tore out the kitchen, bathrooms etc. They sent me a budget for over $500k for the project. I have done many new construction and feel that this could give me...

"Not Updated" or "Updated" and why?

My husband and I will be building a new home in Florida. Building materials have skyrocketed since the fall of 2020 and so have the cost of appliances. Can an appraiser adjust for the increase in the materials if the older home comps cannot support new-build prices? I'm concerned my new...

Would love some feedback on this. I'm appraising a new house built by Lennar in a new community. They build one ranch style model and the subject is the 11th one they've built over the past 14 months. Contract price is $450K. The highest closed sale to this point is $440K and most have been...

Morning all! Had a question regarding specific requests on appraisals. Is it possible to request our appraisal to denote a monetary value on a specific item? For context, we are building a new contruction home and our builder is worried if we get an asphalt driveway it will drive the cost up...

Ok, we had a client request an appraisal on 8 separate pre-construction floor plans (8 reports). I have done plenty of new construction appraisals, however this is for a new subdivision and the builder has not determined which floor plan is going on which site. So, the client is requesting the...

Hey all, I've been making myself dizzy trying to reconcile this, and looked through the earlier posts for an answer, with no luck. So, I'll just consult all of you appraisal wizards. I'm doing a refi appraisal for an executive home that just got its CO last week. There's only a small punch list...

I work in an fast growing urban area with lots of highrise development. Among other things, the form we send to the builder requests the following: Date of sale: Sale Price: Tax included (Y/N): Credits: Total Sale Price (after credits): What would be an example of a credit? On my form, this...

Kristen007New Member After a disappointing inspection on an existing home we are leaning towards new build for our VA Loan. In your experience would you recommend any of these builders. We love the Ryan homes community but not too sure on builder. We are leaning towards Timberlake and...

I have been reviewing threads on this site for quite a while and would like to say I had no idea how complex and challenging the appraisal world is! I am seeking advice on how I am handling a situation with appraisals on my new construction project. I am an architect and we are building a...

I am appraising a condo (FHA) that is newly built ( last 30 days). Condo neighborhood has about 15 houses that has sold mostly from from contract builds with the developer. In the last 5 months lumber costs have increased greatly from a year ago. From data I gathered from the developer and...

I am a reviewer for a federally insured bank. In this particular assignment, because there was new construction involved, we requested that the appraiser include the cost approach in his analysis. The appraiser argued that no one considers the cost approach anymore. It's not the first time...