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Bissanti Realty
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Andrew E Bissanti founded his real estate firm in September of 1964 - his company, is one of the oldest and best known in Franklin area - Andrew E Bissanti, through the years of his long career as a Realtor, has held various positions with the Greater Boston Real Estate Board, he was a Mediation Officer for the Council I&M from 1980 to 1989, President Council I&M in 1977 to 1981. |
Address: Franklin, MA, 02038
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Website: Bissanti Realty | | Phone Number |
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Bissanti Realty The easiest way to describe what an appraisal is, is by telling you what it is not. Broker`s Price Opinion and Brokers Market Analysis are NOT Real Estate Appraisals.
These reports are fine if you feel comfortable with numbers from these brokers but they are not done under USPAP standards, for putting these homes on the market. Real Estate Appraisal is not a science. Reaching an opinion of value is more of an art and that is why an experienced appraiser is important to most lending institutions. Local Lending institutions require state certified and licensed real Estate appraisers for loan. Ironically, Massachusetts is the most lenient on who requires an appraisal and who won`t, but it`s pretty much any Federally regulated transaction of 250K or more. So based on current prices, as you may know, that`s probably close to 90% of the properties exchanging hands right now. These reports typically consist of 8-l2 pages for a single-family residence and 12-26 pages for a two Family residence.
From the most basic form report to the most complex narrative report, real estate appraisals define value using three approaches to value; Market Sales data from other properties that have sold in the area within the last six months. The comparable sales are then reviewed and adjusted mathematically based on market perceived values. These Values are derived from years of experience in the field. 2nd is the Income Approach with Cap rates applied to net income. Square footage rates, CAM fees and triple nets are terms you`ll hear when you enter the world of Commercial investment property. 3rd Is the reproduction Cost New on a cost per SF added to land value. We then depreciate using Age/Life formula to reflect it`s Effective Age vs. current condition. In closing, I`d to add that Bissanti Realty uses the latest data bases, state of the art software linked to national and local Real Estate and public record information servers for retrieving the best information to define the value of your real Estates. Bissanti Realty also holds Bonds & E&O insurance, the proper designations, certifications, and license in Massachusetts and RI. We are approved appraisers for Government loans, FHA, VA & HUD. We are closely linked with offices and colleagues so that no job is considered too small or too large. Call us at
508-528-7111
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