Market Conditions Addendum to the Appraisal Report - a la mode 2025

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Fannie Mae 1004, Uniform Residential Appraisal Report Also known as the Freddie Mac form 70 or the URAR. This report form is designed to report an appraisal of a one-unit property, or a one-unit property with an accessory unit.
By comparing the differences in sale prices, appraisers can quantify the influence of changing market conditions. For example, if two identical properties sold six months apart at different prices, the price difference can help determine the percentage change due to market shifts.
Condition Age The age, condition, and the local market of the property are also included in the appraisal. Generally, newer and well-maintained homes tend to receive a higher appraisal value. However, this is not always the case, especially in areas where houses are typically older and historic.
The appraised value of your home can change significantly over time with the market. Fair market value can also shift based on current economic and local market conditions, as well as the condition and age of the home.
Understanding the key differences between a Comparative Market Analysis and an Appraisal is essential when seeking a property valuation. While a CMA provides a general estimate of a propertys value based on recent sales data, an appraisal offers a more comprehensive and objective assessment.
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The answer to who can set market value involves buyers, sellersand the very definition of value. Key takeaways: Appraisers discover market value. They dont set it.

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