My New Blog

Happy New Year and Exciting Updates from RU Appraisals, LLC!

Happy New Year to all! As we embark on 2025, I'm excited to share some updates and reflect on a successful 2024. After retiring from NJDOT in July 2023, where I served as a staff reviewer and appraiser specializing in condemnation work since 2004, I've been enjoying new ventures and opportunities.

New Beginnings and Continued Expertise:

My time at NJDOT provided invaluable experience in the complexities of condemnation appraisals and honed my skills through reviewing the work of other professionals. I'm grateful for the opportunity to have worked alongside some of the best in the field.

While I've registered as a state vendor for potential contract work, I've also been busy with bank, divorce, private sales and estate appraisals, both of which I find rewarding. It's been a pleasure applying my expertise to assist clients in these areas.

Navigating the Real Estate Market in 2025:

The economic outlook for the real estate market in 2025 remains uncertain. Many predict a similar or potentially slower market compared to last year. However, as we all know, the market can be unpredictable. Bank lending has dropped off sharply. The rates still remain high compared to a few years ago when buyers took advantage of low rates.  Now with the threat of tariffs which could increase cost of housing the future remains highly unpredictable.  

Facing Real Estate Challenges?

If you're facing challenging real estate situations, whether it's determining the value of a property for sale or dealing with complex appraisal issues, please don't hesitate to reach out. I'm always eager to leverage my experience and knowledge to assist you.

The Value of a Professional Appraisal:

In today's market, a professional appraisal is more valuable than ever. Considering the significant value of real estate assets and the costs associated with carrying unsold properties, investing in an appraisal can save you time, money, and stress.

RU Appraisals, LLC is here to support you with your real estate valuation needs. Contact us today for a consultation.

Wishing you all a successful and prosperous 2025!

                      Happy New Year 

Welcome to 2024, and I hope everyone is off to a great start in the New Year.
As far as the real estate market, we all know it seems very slow, and the prediction is that 2024 will also be slow.  It's part of the economic cycle in real estate. Rates go up, and the market slows.  The prices are still very high, but the lack of housing has created that.  We know this takes out first-time home buyers, thus slowing up activity.  Many factors are at play here. Plus, it's an election year when some folks hold their breath until that passes.
If you have any doubts about the value, of course call me. I will do my best to assist you.  I cannot tell you value over the phone, nor would I, since appraisal rules and regulations prohibit me.  The cost of an appraisal is very well justified, considering real estate is one of your most significant assets. It's worth the time and effort to determine the value.  Call or email me at 609-203-1194 or raymondunderhill@gmail.com

Greetings All:
 
Like most of you, we are into the winter months, and shortly the holidays will be upon us.  I retired in July from NJDOT as a Staff Reviewer and Appraiser. I took a few months off to gather my thoughts and relax a little. I have been doing condemnation work since 2004 and have found it interesting and exciting. I have learned a lot and become a better appraiser because of the job. I have testified on my appraisals, along with reviewing others. The review process is one where you learn about appraising via a different set of eyes. Especially when you are fortunate enough to work with some of the top professionals in your field and learn from them; they are very professional and have been in the business for years.  
During the Thanksgiving weekend, a friend who is a contractor and invest in properties had me look at a property for him. It was for fun, and both were interested in having some fun. It had a small 2 bedroom and 2 bath unit on a rather large site. Upon viewing it on Zillow there were nearly a thousand views, and it was a pending sale at one point. After which they increased the sales price. With a quick look at a few sales, I found it interesting that it appears to be one of these overpriced listings.
 For starters, its location wasn't the most desirable even though it had a stream and was surrounded by woods. Some personal property was scattered on the property even though the listing stated it would be removed. The major issue was it had an easement to get to the property. Of course, without the easement, the property would be worth very little and would be considered landlocked. It appears there is no development potential either.
 My whole point here is that the owner most likely did not have an appraisal completed and it might have helped them with a few of these issues. Surely some realtors are not familiar with easements either or the highest and best use of the land.
 Please, by all means, if you have some challenging real estate problems, I would be more than happy to look into them.                                                                  
 
  Call or text me at 609-203-1194 or email: raymondunderhill@gmail.com