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There are three ways to determine the value of anything, and each plays a part in property appraisal. The most widely used and accepted in residential practice is the sales comparison approach. This approach bases its opinion of value on what similar properties in the vicinity have sold for recently, with appropriate adjustments for time, acreage, living area, amenities, and so on.

A home purchase is the largest, single investment most people will ever make. Whether it's a primary residence, a second vacation home, or an investment, the purchase of real property is a complex financial transaction that requires multiple parties to pull it all off.

We all know them. The guys with pounds of silicon hanging from their belts. Every new gadget that has hit the market in the past 10 years has done time around their waist. Call them geeks. Call them nerds. Call them what you will, but by all means, give them your appraisal business. Why? I'm glad you asked.

If you worked with appraisers ten years ago, you know how much technology has changed since then. What you might not realize is that there have been many developments in technology and e-commerce that have improved turnaround times on appraisal assignments. We're taking advantage of them. Are you taking advantage of every opportunity you have to speed up the process? Here are some suggestions.