This has been a benchmark year for A Quality Appraisal, LLC here in Portland. Our professional appraisal team increased from three to five, and appraisal products and processes were improved across the board. In addition, we formed an LLC, added a second company car, and began focusing more on marketing our business online. In the past, we relied almost completely on word-of-mouth marketing. Now, AQA is reaching out to potential clients by adding a YouTube channel and a Facebook page.
Here are some fun facts about our 2013 appraisal work. During the year, we evaluated over 200 acres of property including more than 500,000 square feet above grade living area. (Many of the properties had basements but that area is not included in these figures.) More than $85,000,000 in real estate was appraised. The most appraised Portland neighborhoods are Powellhurst-Glibert, Brentwood-Darlington, Centennial, Foster-Powell, Hazelwood, Lents, Montavilla, and Parkrose Heights. We also performed many appraisals in the cities of Gresham, Clackamas, Happy Valley, Damascus, Milwaukie, and Oregon City.
Plans for 2014 include increasing our online presence, testing new software, and advancing the careers of our staff thru additional training and certifications.
The real estate sales market in 2014 is expected to remain strong, but we probably will not see the double-digit home value increases observed in 2013. With slightly higher interest rates, homeowners will likely choose home equity loans and over refinancing. This will force our business to increase our specialty appraisal products like date-of-death appraisals (estate appraisals), pre listing appraisals, and divorce appraisals.
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Thanks for reading and have a happy and healthy new year!
Gary