2016 Top Realtors for Vista Sotheby’s International Real Estate

Vista Sotheby’s International, one of the top real estate firms in the South Bay area of Los Angeles have recently introduced their “Top Producers” for 2016. With offices throughout the area including Manhattan Beach, Hermosa Beach, Palos Verdes, Redondo Beach and the Hollywood Riviera, Vista Sotheby’s has quickly become the dominant force in the local real estate market.

We are proud to annouce that Manhattan Beach realtor Keith Kyle was one of the top agents companywide and was the #9 top producing agent for 2016.   Congrats to all of the realtors given the award.  See also the Vista Sotheby’s top producers for 2015.

We wanted to thank all of our clients and friends that helped make 2016 such as successful year in real estate.

Featured Home in Redondo Beach – 2209 Nelson #A

Although not in El Segundo this is a Redondo Beach real estate listing that’s worth knowing about.

This better than new coastal craftsman is as beautiful on the inside as the outside

2209-nelson-redondo-beach and dramatically different than the standard Redondo townhome.  From the moment you see 2209 Nelson in Redondo Beach you’ll realize that this is unlike anything on the market.  Entering the home, you’ll be struck by the bright and open floorplan and attention to details. From the nine foot high ceilings,  6″ oak flooring to the El Dorado stone fireplace to the wainscoting and custom colors this home is designer perfect.  The lower level features a bright and open floorplan for today’s lifestyle and perfectly blends beach casual with modern luxury.  Ideal for entertaining the home features an open kitchen with granite counters, stainless appliances, Merillat maple cabinetry, center island and breakfast bar.  The kitchen opens to both the dining area and the spacious living 2209-nelson-living-room-entryroom.  Direct access to the private backyard and patio is ideal for indoor outdoor living.

Contact listing agent Keith Kyle with Vista Sotheby’s International Realty for more information.

Head upstairs to 3 beautiful  bedrooms plus the incredible master suite.  All bedrooms offer plantation shutters, vaulted ceilings, recessed lights, and all enjoy an abundance of natural light.  The master suite is a stunning retreat bathed in natural light, with vaulted ceilings, beautiful stone fireplace, private sitting area, balcony, and walk in closet.  The spacious master bath offers separate jacuzzi tub and shower, dual vanities, marble countertops and travertine flooring.  This beautiful home is a rare find in today’s market of cookie cutter homes.  View the 2209 Nelson photo gallery or visit the virtual tour.

  • $1,195,000
  • 4 bedrooms
  • 2 1/2 bathrooms
  • Fully detached – feels like a single family home
  • Beautiful kitchen with Merillat maple cabinets, Verde Butterfly granite, stainless appliances
  • Private patio and yard
  • 2,350 square feet (approx – buyer to verify)
  • Craftsman Style
  • Decorator perfect interior
  • Open Layout
  • Traditional floorplan

 

Play VisualTour

Video Tour of Fusion South Bay

By Keith Kyle

Welcome to Fusion South Bay.  This beautiful gated community is adjacent to Manhattan Beach, just a short drive to LAX and the beach and lies in the heart of this sunny Southern California community.

Visit our Fusion new listings section to see the current homes for sale in Fusion South Bay.

Coming Soon – 3 Bedroom in the Court at Three Sixty South Bay

By Keith Kyle

Coming to the market in spring of 2016, this beautiful “residence 2″ in the Courts offers spacious and bright living on 3 levels.  This is a turn key home that has been kept in meticulous condition located in the gated community of Three Sixty at South Bay…one of the areas only newer construction communities.  Some of the highlights of the residence 2 floorplan is that it offers a bedroom and bath on the ground level and all bedrooms enjoy a private bathroom.  Contact us for more information or to arrange a private showing before it hits the market.  The home will be listed by Keith Kyle of Vista Sotheby’s International.

Selling Homes In El Segundo and the South Bay – See Past Sales

By Keith Kyle

We are so fortunate to have worked with so many wonderful people and in such a great area.  It just doesn’t get much better.  See the map below to view all of our local home sales. Although we specialize in El Segundo and and the South Bay, we have been lucky enough to sell throughout the area, from Santa Monica to Huntington Beach. Many of these were first time buyers and are now happy homeowners. The red marks are home sales in which I represented the buyer, the orange marks represent homes that I listed, and the blue marks represent homes in which I represented both buyers and sellers.  Click on the marks to see pictures of the various homes and properties.

You can also see the interactive map of our South Bay home sales on Google.

Our Latest Fusion Sale – New Price Record for an “A” Floorplan

By Keith Kyle7 main room

We’re happy to announce our latest sale at 5404 W 149th Place in Fusion South Bay.  We represented the sellers of this beautiful “A” floorplan condo in one of the South Bay’s only newer construction gated communities.  The combination of a very nice condo with a number of upgrades and our staging made the home shine.  With 7 offers, almost all over asking price, this was definitely a winner.  The real estate market in Fusion South Bay couldn’t be hotter with any and all new listing selling immediately and some even selling before it hit the market.

Congratulations to our client Peter for the quick sale of his beautiful home at the impressive price of $547,000.

Spectacular Point Fermin Oceanfront Home for Sale

Located at 4020 Bluff Place on the Palos Verdes Peninsula in the city of San Pedro, this magnificent oceanfront home is perched on the bluffs high above the Pacific Ocean and Cabrillo Beach.  For the buyer priced out of the Strand in Manhattan Beach, or the cliffs of Palos Verdes this is an incredible opportunity at a fraction of the cost.  Compare this to oceanfront prices starting at $5.0M in Palos Verdes,  $4.5M price in Redondo Beach, and  $13.0M in Hermosa and Manhattan Beach.


The dynamic views are completely unobstructed and extend to Dana Point and even north San Diego on especially clear days. The surf is literally in your backyard where you’ll hear the crashing waves, watch as kite surfers an sailboats ply the waters and enjoy the harbor lights in the evening.    The beautiful custom home was built in 2000 and was extensively remodeled  in 2011. It is one of a kind and offers the feel of a luxury hotel….with unparalleled views.  Surrounded by mature landscaping and a very limited number of neighboring properties, the home affords a sense of privacy and seclusion not often found in the South Bay.  The ground floor offers a spacious and open floor plan with lovely new hardwood floors, marble fireplace, and spacious living and dining rooms…all with spectacular views. The open kitchen has all new stainless steel appliances, custom white wash cabinets, and new Italian marble countertops. The 30 foot wide floor to ceiling sliding glass doors open onto the expansive entertainment deck and the ocean beyond.  The ground floor also offers a sizable bedroom with it’s own bathroom which is perfect for guest or owners needing a ground floor bedroom.  The entire second floor is divided into two huge, finely appointed master suites with a kitchenette in between.   Imagine being greeted every morning with an ocean view that will leave you breathless.  The upper floor also enjoys an oversized balcony perfect for sitting and relaxing.  With over 1000 sq ft of decks enjoy one of the most beautiful stretches of So Cal coastline!  Cabrillo Beach is in full view and just a short walk from the house.  For additional photos visit www.OceanfrontExecutiveRetreat.com

Call or text listing agent Keith Kyle for information or a private showing.  310-251-2344 & Keith@KeithKyleHomes.com

North-Bedroom-Views 4020 Bluff Pl - Deck-Views Livingroom-East Home-From-Patio Livingroom-Wide Master-Bedroom Exterior-Gate Bedroom-Views Dining-Views Master-Wide Bedrooms-Wide Living-Harbor Dining-Living Kitchen Exterior-Gate-2

Home Details:

  • Priced at $2,000,000
  • 3 bedrooms, 3 baths
  • Built in 2000
  • 2,389 square feet
  • 8,912 foot lot
  • 2 car garage

stairs_pictureKeith Kyle – Realtor

South Bay Brokers Top Producer

310-251-2344, 310-546-7611 x366 (office)

Keith@KeithKyleHomes.com

2501 N Sepulveda, Manhattan Beach, CA 90266

See This Weeks Open Houses – Jan 25-26, 2014

South Bay Public Open Houses – January 25th and 26th

Manhattan Beach Open Houses 
Hermosa Beach Open Houses 
Redondo Beach Open Houses 
Torrance,  El Segundo Palos Verdes and Other Cities

Manhattan Beach Open Houses

 

Days Hours Address Details Price
Sun. 1-4pm 1650 22nd St. 3 BD, 2 BA $1,249,000
Sat. / Sun. 2-4pm 2009 Faymont Ave. 4 BD, 2 BA, New Listing $1,249,000
Sat. / Sun. 2-4pm 711 Larsson St. 4 BD, 2 BA, 50′ Wide Lot
$1,475,000
Sun. 1-4pm 3615 Laurel Ave. 4 BD, 3.5 BA $1,739,000
Sat. / Sun. 2-4pm 3112 Poinsettia Ave. 4 BD, 3 BA, MB Tree Section
$1,795,000
Sat. / Sun. 2-4pm 1417 Pine St. 4 BD, 3 BA, New Listing, 2,340
S.F.
$1,850,000
Sat. / Sun. 1-4pm 1161 2nd St. 5 BD, 4.5 BA, New Listing,
Craftsman SFH, Almost 3,600 S.F.
$1,980,000
Sun. 2-4pm 3521 Palm Ave. 4 BD, 3 BA $1,995,000
Sat. / Sun. 1-4pm 433 Marine Pl. 3 BD, 3.5 BA, New Listing!,
New Construction
$1,999,000
Sun. 1-4pm 468 34th St. 5 BD, 4.5 BA, Ocean Views $2,399,000
Sat. 1-4pm 210 Terraza Pl. 3 BD, 3 BA, 2,147 S.F., SFH,
on 1/2 Acre, 1st Time on Market since 1961
$2,500,000
Sun. 1-4pm 226 13th Pl. 4 BD, 4 BA, Ocean Views, Lunch
& Drawing
$2,689,000
Sun. 1-4pm 1733 Pine Ave. 5 BD, 5.5 BA, New Construction,
3,115 S.F.
$2,749,000
Sat. / Sun. 1-4pm 880 11th St. 5 BD, 4.5 BA, 4,100 S.F., Stunning
Tuscan Family Hm. on Lg. corner lot
$2,850,000

Hermosa Beach Open Houses

Day Time Address Amentities Price
Sun. 2-4pm 1707
Pacific Coast Hwy. #308
1
BD, 1 BA
$379,000
Sat.
/ Sun.
2-4pm 406
28th St.
2
BD, 1 BA, 2,400 S.F. Buildable Lot
$1,250,000
Sun. 1-4pm 646
1st St.
4
BD, 3.5 BA, Ocean Views
$1,299,000
Sat.
/ Sun.
2-4pm 720
10th St.
4
BD, 4 BA, Ocean View
$1,325,000
Sun. 1-4pm 624
3rd St.
3
BD, 2.5 BA, New Listing! Stylish Remodeled, SFR
$1,389,500
Sat.
/ Sun.
1-4pm 301
Manhattan Ave.
3
BD, 3.5 BA, Ocean View, Rooftop Deck
$1,599,000
Sun. 1-4pm 531
Loma Dr.
Gorgeous
Ocean Vu., Custom SFR
$2,599,000
Sun. 1-4pm 2710
El Osete
4,500
S.F. Home, Ocean View
$2,690,000

Redondo Beach Open Houses

Days Hours Address Details Price
Sun. 2-4pm 720
Meyer Ln. #109
2
BD, 2 BA
$469,000
Sat.
/ Sun.
2-4pm 2520
Graham Ave.#1
2
BD, 1.5 BA
$475,000
Sat.
/ Sun.
1-4pm 2000
Mathews Ave. #6
2
BD, 1.5 BA, End Unit, Designer Perfect
$519,500
Sat.
/ Sun.
1-4pm 705
N. Guadalupe Ave.
1
BD, 1 BA, Remodeled, Bonus Rm. Bch. Bungalow, w/ all the right touches
$550,000
Sat.
/ Sun.
1-4pm 1910
Grant Ave. #3
2
BD, 2 BA, Spacious Townhouse, Oversized Bedrooms
$555,000
Sun. 1-4pm 2510
Nelson Ave. #1
3
BD, 2 BA, New Listing
$575,000
Sat.
/ Sun.
2-4pm 2608
184th St.
3
BD, 2 BA
$749,000
Sun. 2-4pm 220
S. Helbert Ave. #C
3
BD, 2.5 BA, Ocean View
$775,000
Sat.
/ Sun.
1-4pm 2416
Grant Ave. #A
3
BD, 2.5 BA, New Construction
$799,000
Sat.
/ Sun.
1-4pm 2416
Grant Ave. #B
4
BD, 3 BA, New Construction
$810,000
Sat.
/ Sun.
1-4pm 2416
Grant Ave. #C
4
BD, 3.5 BA, New Construction
$820,000
Sat.
/ Sun.
1-4pm 2006
Harriman Ln. #A
4
BD, 2.5 BA, 2,352 S.F. Front Townhome
$829,000
Sun. 1-4pm 519
S. Francisca Ave.
3
BD, 3 BA, Beach Bungalow, Deck & Ocean View
$849,000
Sat.
/ Sun.
1-4pm 1519
Wollacott St.
4
BD, 2.5 BA, Elegant & Spacious, Great for a Family
$925,000
Sun. 1-4pm 2303
Mackay Ln.
4
BD, 2.5 BA, Detached w/ Separate Driveway
$979,000

Neighboring Cities Open Houses

Day Time Address City Description Price
Sun.
2-4pm
827
Washington
El
Segundo
3
BD, 1.5 BA
$799,000
Sat.
/ Sun.
2-4pm
945
Eucalyptus Dr.
El
Segundo
3
BD, 2 BA, New Listing
$799,000
Sat.
/ Sun.
10-5pm 5428
Strand
Hawthorne Studio
to 4 BD, Resort Amenities
From
the $400,000s
Sat.
/ Sun.
1-4pm 2628
Via Rivera
Palos
Verdes Estates
3
BD, 2 BA
$1,275,000
Sat.
/ Sun.
2-5pm 1658
Granvia Altamira
Palos
Verdes Estates
3
BD, 2.5 BA, 1,879 S.F. SFR
$1,299,000
Sat.
/ Sun.
1-4pm 1800
Via Estudillo
Palos
Verdes Estates
4
BD, 3 BA, Beautiful Lunada Bay 2 Story
$1,350,000
Sun. 1-4pm 1416
Via Zumaya
Palos
Verdes Estates
5
BD, 3 BA
$2,049,000
Sat.
/ Sun.
1-4pm 34
Pepper Tree Ln.
Rolling
Hills Estates
2
BD, 2.5 BA
$1,250,000
Sun. 1-4pm 15
Cerrito Pl.
Rolling
Hills Estates
4
BD, 4 BA, Cul-de-Sac, 2,487 S.F. Approx.
$1,359,000
Sun. 1-4pm 235
S. Meyler St.
San
Pedro
2
BD, 2 BA, 1,134 S.F. SFR, 1917 Bungalow
$389,000
Sun. 1-4pm 2224
Dominguez St. #13
Torrance 3
BD, 2.5 BA, End Unit
$549,000
Sat.
/ Sun.
1-4pm 1640
Fern Ave.
Torrance 2
BD, 1 BA, + Bonus Rm. w/ Kitchen & .75 BA
$675,000
Sun. 2-4pm 5132
Zakon Rd.
Torrance 3
BD, 2 BA, Views
$789,000
Sat.
/ Sun.
1-4pm 5520
Arvada St.
Torrance 4
BD, 3 BA, 2,000 S.F.
$838,000
Sun. 1-4pm 27753
Hawthorne Blvd.
Torrance 3
BD, 2 BA, Desirable Location, New Price
$870,000
 

How We Sell Homes in El Segundo – What Makes Us Different

El Segundo is a unique and specialized area, and takes a realtor that understands the intricacies of the market and how to effectively prepare, Listing Agents in El Segundopresent and market a home to reach the target buyer and obtain the highest possible price with the least amount of inconvenience and stress to the seller. This is accomplished through deep knowledge and understanding of market conditions, price trends and through extensive communication with potential buyers, the vast South Bay real estate network and with the home seller.

For me, all homes require a luxury marketing strategy through the use of professional photography, staging consultations, high-end media and a vast understanding of current technology in order to reach the largest possible network of buyers. The difference between a great realtor and others can mean the difference between tens of thousands of dollars, time on the market and added stress during the escrow process.

Accurate Property Evaluations

The two most important factors before putting your home on the market are pricing and preparing the home for sale. In the small town world of real estate in El Segundo, pricing is not as simple as listing the home slightly higher than the last sale. No two homes are the same, and factors such as age, views, specific location, upgrades and others made an incredible difference. When working with Keith Kyle, you are getting far more than one real estate professional. South Bay Brokers agents work as a team to determine the most accurate price for your property. Using up to date statistical reports as well as evaluation from every agent on the South Bay Brokers, we can accurately determine the ideal list price for your home or investment property.

Staging and Home Preparation

Buyers and realtors are fickle, and sellers have one shot to immediately capture the interest of the market. Pricing and home prep go handOcean Views in hand and are critical in capturing the momentum that comes with being a new listing. First impressions are everything and we are experts in preparing homes for the market. From cosmetic updates, to partial remodeling, to staging, we help guide our clients though the process with our vast knowledge of the market and what buyers are looking for. We spend endless hours showing homes and hearing the comments buyers make and can help tap into this insight to help prepare your home.

Presentation and Photography

Perhaps the most disappointing element of how realtors often market homes, even in a higher end market like El Segundo, is how little effort goes into presenting the home. Whether realtors are often lazy or don’t want to incur the expense, the single biggest marketing tool we have to present to buyers, photographs of the home, are often taken with pocket cameras or even phones. We believe that every home deserves to be shown in the very best light and with so many home buyers searching online, photography is a critical element. We use professional photographers to help make homes look spectacular. If the saying is a picture is worth a thousand words isn’t it critical that those word put the home in the very best light? We use these photographs as the very background of our marketing strategy and beyond just the impression they make on the MLS, we use them for buyer mailers and postcards, professionally designed flyers and print media, advertising and so much more.

On-Line Advertising and Marketing

With 85% of buyers starting their home search online, it’s critical that your home not only reach this potential buyers, but capture their interest immediately. All of our listings are extensively marketed to all online channels, real estate portals, social media and more to maximize interest and help obtain the highest possible sales price. Keith Kyle is an online marketing specialist and an e-Pro and lists property for sale in many on-line sources including:

  • Zillow, Redfin, Trulia and HomegainEast Manhattan Beach homes
  • Activerain, Realtor.com, Homes.com
  • SouthBayBrokers.com, ListingBook, Point 2 NLS
  • KeithKyleHomes.com, and TorranceRealEstateHomes.com
  • Social media sites Facebook and Google +
  • YouTube and Yahoo Real Estate
  • Hermosa-Beach-Homes.com
  • Craigslist, FindYourSouthBayHome.com
  • El Segundo MLS.com and ManhattanBeachLuxuryRealEstate.com
  • SearchRedondoBeachMLS.com and RedondoBeachRealEstateHomes.com

Visual Tours and Online Videos

Great photographs may not be enough these days for today’s savvy home buyers. We incorporate both a visual tour and video walkthrough for all of our listings to all buyers to get a more realistic sense of the home, how it flows, and where rooms and spaces are in relation to one another. It is our goal to have every potential buyer “need” to see the home in person and through virtual tours and narrated video walkthroughs we can reach an even greater audience.

Immediate Exposure to 1000’s of Brokers and Agents

Your property is immediately posted to the multiple listing services of the South Bay MLS and Multi Regional MLS giving you instant access to 1000’s of agents and their extensive client databases.

Print Media

Digs-Home-of-The-WeekAlthough we focus much of our advertising on the broader Southern California, national and even internationalbuyers through our intensive online advertising strategies, it’s also vitally important to reach the more localized buyers through our various print advertising and mailers. We reach these local buyers through various methods including The Beach Reporter, Daily Breeze, an DIGS magazine with professionally designed full color advertising. In addition we target and reach and even more localized audience with various just listed and just sold mailers as well as full color flyers and email flyers.

Co-Brokerage

Your property will automatically be listed and seen by thousands of Real Estate Professionals in the South Bay and Southern California areas and beyond. What this means for you? South Bay Brokers and Keith Kyle will work closely with other real estate agencies to show and sell your property to any potential customer. This offers you 100% exposure and a far greater opportunity to sell your home quickly and for top dollar.623 Paseo Flyer

 

Open Houses

Keith Kyle and South Bay Brokers realtors will do weekly Open Houses at your property to ensure maximum exposure of your home (Advertised on Thursday in The Beach Reporter, The Easy Reader, and our websites). Our team does pre open house work and presents potential buyers with critical information on the comparable homes, local schools, values and more.

Personalized Websites

Keith Kyle and South Bay Brokers has the ability to produce a personalized website of your property, allowing potential website viewers to feel like they are actually walking through your home and ensuring an easy to remember web address for potential buyers
to learn about your home.

Find out the value of your El Segundo Home with our Free, No Obligation Comparative Market Analysis.

Contact Information

  • Tell Us a Little About Your Home

 

Verification

 

South Bay Appraisal Questions and Answers

 Appraisal Frequently Asked QuestionsThe-Row-360

What is an appraisal?
What does an appraiser do?
Why would a person need a home appraisal?
What is the difference between an appraisal and a home inspection?
What is the difference between an Appraisal and a Comparative Market Analysis?
What does the appraisal report contain?
After completing the report, what assurance is there that the value indicated is valid?
How are appraisers certified?
Who do appraisers work for?
Where does an appraiser get the information used to estimate value?
Why do I need a professional appraisal?
How do I get ready for the appraiser?
What is ”Market Value”?
Who Actually Owns the Appraisal Report?
Which home renovations add the most to the price?

What is an appraisal? Back to top

An appraisal is a thought process leading to an opinion of value. This opinion or estimate is arrived at through a formal process that typically uses the three ”common approaches to value”. They are the Cost Approach – which is what it would cost to replace the improvements, less physical deterioration and other factors, plus the land value. There is the Sales Comparison Approach – which involves making a comparison to other similar, nearby properties which have recently sold. The Sales Comparison Approach is normally the most accurate and best indicator of value for a residential property. The third  approach is the Income Approach, which is of most importance in appraising income producing properties – it involves estimating what an investor would pay based on the income produced by the property.

What  does an appraiser do? Back to top

An appraiser provides a professional, unbiased opinion of market value, to be used in making real estate decisions. Appraisers present their formal analysis in appraisal reports.

Why would a person need a home appraisal?  Back to top

There are many reasons to obtain an appraisal with the most common reason being real estate and mortgage transactions. Other reasons for ordering an appraisal include:

  • To obtain a loan.
  • To lower  your tax burden.
  • To establish the replacement cost of insurance.
  • To contest  high property taxes.
  • To settle  an estate.
  • To provide a negotiating tool when purchasing real estate.
  • To determine  a reasonable price when selling real estate.

 What is the difference between an appraisal and a home inspection? Back to top

The appraiser is not a home inspector nor does he/she do a complete home inspection. An inspection is a third-party evaluation of the accessible structure and mechanical systems of a house, from the roof to the foundation. The standard home inspector’s report will include an evaluation of the condition of the home’s heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure.

What is the difference between an Appraisal and a Comparative Market Analysis (CMA)? Back to top

To a certain extent this depends on the realtor providing the CMA. The CMA relies on market trends and local knowledge of the market whereas the appraisal relies on specific, verifiable comparable sales. In addition, the appraisal looks at other factors like condition, location and construction costs. A CMA delivers a ”ball park figure.”An appraisal delivers a defensible and carefully documented opinion of value.

What does the  appraisal report contain? Back to top

Each report  must reflect a credible estimate of value and must identify the  following:

  • The client  and other intended users.
  • The intended  use of the report.
  • The purpose of the assignment.
  • The type of value reported and the definition of the value reported.
  • The effective date of the appraiser’s opinions and conclusions.
  • Relevant property characteristics, including location attributes, physical attributes, legal attributes, economic attributes, the real property interest valued, and Non real estate items included in the appraisal, such as personal property, including trade fixtures and intangible items.
  • All known: easements, restrictions, encumbrances, leases, reservations, covenants, contracts, declarations, special assessments, ordinances, and other items of a similar nature.
  • Division of interest, such as fractional interest, physical segment and partial holding.
  • The scope of work used to complete the assignment.

 

After completing the report, what assurance is there that the value indicated is valid? Back to top

In communicating an appraisal report, each appraiser must ensure the following:

  • That the information analysis utilized in the appraisal was appropriate.
  • That significant errors of omission or commission were not committed individually or collectively.
  • That appraisal services were not rendered in a careless or negligent manner.
  • That a credible,  supportable appraisal report was communicated.

Most states  require that real estate appraisers are state licensed or certified. The state licensed or certified appraiser is trained to render an unbiased opinion based upon extensive education and experience requirements.  To become licensed or certified, appraisers must fulfill rigorous  education and experience requirements. In addition, appraisers must abide by a strict industry code of ethics and comply with national standards of practice for real estate appraisal. The rules for developing  an appraisal and reporting its results are insured by enforcement of the Uniform Standards of Professional Appraisal Practice (USPAP).

How are appraisers  certified? Back to top

Regulations  regarding licensing and certification of Real Estate Appraisers  vary from state to state. However, licensing and certification is most often associated with many hours of coursework, tests and practical  experience. Once an appraiser is licensed, he or she is required to take continuing education courses in order to keep the license current. To see the specific requirements for any state click here.

Who do appraisers  work for? Back to top

Typically, appraisers  are employed by lenders to estimate the value of real estate involved  in a loan transaction. Appraisers also provide opinions in litigation cases, tax matters and investment decisions.

Where does  an appraiser get the information used to estimate value?  Back to top

Gathering data  is one of the primary roles of an appraiser. Data can be divided  into Specific and General. Specific data is gathered from the home  itself. Location, condition, amenities, size and other specific  data are gathered by the appraiser during an inspection.

General data is gathered from a number of sources. Local Multiple Listing Services  (MLS) provide data on recently sold homes that might be used as comparables. Tax records and other public documents verify actual  sales prices in a market. Flood zone data is gathered from FEMA  data outlets, such as a la mode’s InterFlood product. And most importantly,  the appraiser gathers general data from his or her past experience  in creating appraisals for other properties in the same market.

Why do I need a professional appraisal? Back to top

Anytime the value of your home or other real property is being used to make a significant financial decision, an appraisal helps. If you’re selling your home, an appraisal helps you set the most appropriate value. If you’re buying, it makes sure you don’t overpay. If you’re engaged in an estate settlement or divorce, it ensures that property is divided fairly. A home is often the single, largest financial asset anybody owns. Knowing its true value means you can the right financial decisions.

How do I get ready for the appraiser? Back to top

The first step in most appraisals is the home inspection. During this process,the appraiser will come to your home and measure it, determine the layout of the rooms inside, confirm all aspects of the home’s general condition, and take several photos of your house for inclusion in the report. The best thing you can do to help is make sure the appraiser has easy access to the exterior of the house. Trim any bushes and move any items that would make it difficult to measure the structure. On the inside, make sure that the appraiser can easily access items like furnaces and water heaters.

The following Items, if available, will help your appraiser to provide a more accurate appraisal in a shorter period of time:

  • A survey of the house and property.
  • A deed or title report showing the legal description.
  • A recent tax bill.
  • A list of personal property to be sold with the house if applicable.
  • A copy of the original plans.

 

What is ”Market Value?” Back to top

Market value or fair market value is the most probable price that a property should bring (will sell for) in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically
motivated; (2) both parties are well informed or well advised; (3) a reasonable time is allowed for exposure to the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.

 

Who Actually Owns
the Appraisal Report?
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In most real estate transactions, the appraisal is ordered by the lender. While the home buyer pays for the report as part of the closing costs, the lender retains the right to use the report or any information contained within. The home buyer is entitled to a copy of the report – it’s usually included with all of the other closing documents – but is not entitled to use the report for any other purpose without permission from the lender.

The exception to this rule is when a home owner engages an appraiser directly. In these cases, the appraiser may stipulate how the appraisal can be used; for PMI removal, or estate planning or tax challenges, for example. If not stipulated otherwise, the home owner can use the appraisal for any purpose.

 

Which home renovations add the most to the price? Back to top

The answer to this is different depending upon the location of the home. Different markets value amenities differently. In the South Bay that is true as well. Additions or renovations that enhance the view greatly add to value.

As a rule, the most value returned from renovating a home comes in the kitchen. According to one national survey, kitchen remodels returned an average of 88% of the investment. In other words, a $10,000 kitchen remodeling project would add approximately $8,800 to the value of the home.
Bathrooms were second, returning 85%.