Lykins Appraisal Group, LLC

03/15/2026

Reminder to all Form 1120S S-Corps and Form 1065 Partnerships - The federal tax return is due 3/16/2026 so only one more day to file your extension (if you need one). Happy filing.

11/09/2025

If this takes, higher housing prices will follow, especially on the lower end in the first time homebuyer market.

06/09/2025

Interesting appraisal panel discussion last week hosted by Morgan County MIBOR with our very own appraiser, Lucas Lykins, appraiser Forrest Rowland, and Sherry Ross of AppraiserVendor (a local Appraisal Management Company).

We truly appreciate the opportunity to participate in last week's appraisal panel and want to extend a special thank you for allowing Sherry Ross, our team’s licensed appraiser and dedicated operations director, to speak. Sherry's passion for improving processes and elevating industry stan...

04/10/2025

📊 How Does This Rural Property Compete in the Market?

This is the question we need to answer for today's appraisal assignment.

When appraising more complex properties—like rural homes with atypical amenities such as large acreage, ponds, outbuildings, etc. —it’s important to go beyond basic comps. In this non-lender assignment, we had the benefit of the subject having sold about two years ago.

To better understand how it competed at the time, we analyzed competing sales from the 12 months before and 6 months after that prior sale. This scatter plot helped visualize the property’s position in the market—providing valuable context about price trends and buyer behavior.

We can then use this information to assist in selecting the best comparable sales for developing a current market value opinion.

At Lykins Appraisal Group, we use tools like this to deliver credible, data-supported conclusions, especially in non-lender assignments such as estate, legal, and private-party matters.

📐 More than just numbers—it's about understanding the market.

📞 (317) 969-5954
🌐 www.lykinsappraisalgroup.com

04/08/2025

One of this week’s purchase appraisals brought two hidden challenges that could’ve easily been missed—one involving overstated square footage, and another with a misleading comparable sale.

We broke it all down in a quick blog post that shows how careful appraisers dig deeper than just MLS photos and public records.

👉 Read the full story here: https://lykinsappraisalgroup.com/f/square-footage-discrepancy-and-misleading-mls-photos

04/03/2025

Lykins Appraisal Group is actively working on an appraisal in the Danville market.

New construction continues to be a driving force across many markets in the Indianapolis metro area as it aims to address the ongoing inventory shortage of resales. 📈

In Danville, sales volume has increased over the past two years, thanks largely to the boost from new construction. If you’re a buyer searching for a resale property (anything not newly built), you're still feeling the squeeze of limited inventory.

🔨 Over the past year, new construction has consistently accounted for over 50% of monthly sales, with some months nearing a staggering 70% of total sales volume.

👉 If you’re navigating the Danville market or considering a purchase or refinance, an accurate appraisal is crucial. Contact Lykins Appraisal Group for expert analysis and insights!

07/05/2024

ATTENTION HOMEOWNERS: SAVE MONEY AND GET RID OF PMI.

Are you a homeowner looking to eliminate Private Mortgage Insurance (PMI) from your monthly payments? PMI is an extra insurance that lenders generally require from homeowners who put down less than 20% on a conventional mortgage. While it protects the lender, it can add a significant amount to your monthly expenses. One of the keys to removing PMI is showing you have more than 20% equity in your home. There is typically an automatic clause that PMI will drop off based on your amortization schedule as you pay your mortgage over time. However, rising home values of the past several years may have caused you to build up enough equity to meet the PMI removal criteria SOONER, but this requires action on your part.

Here is a simple guide to see if you may be eligible for PMI removal sooner rather than later and how we may be able to help:

1. Review your most recent mortgage statement to obtain your current loan balance.

2. Contact your lender to learn about their specific PMI removal requirements. If the lender requires an appraisal, move to step 3.

3. Secure a professional appraisal to determine your home's current market value.

4. Provide the appraisal and any other necessary documentation to your lender to support your PMI removal request.

5. Start enjoying the savings once your lender approves the PMI removal, reducing your monthly mortgage payments.

A private appraisal provides the opinion of market value needed for the equity calculation to potentially eliminate PMI and lower your monthly expenses.

With a detailed and reliable appraisal, you'll have the essential documentation to present to your lender, establishing your home’s market value and helping you make informed financial decisions. Don’t let PMI drain your finances any longer—schedule your private appraisal today and take the first step towards a more affordable homeownership experience. If you qualify to remove PMI, the monthly savings far outweighs the cost of an appraisal. Unlock the equity in your home, stop making the mortgage lender rich, and keep more of your hard-earned money every month.

05/10/2024

https://g.co/kgs/pxaxdrw

★★★★★ "I enjoyed working with Luke. Luke was referred to me by another Realtor. Luke has good communication, realistic time lines & did an amazing job appraising my property with excellent detail. I recommend Lykins Appraisal Group & will use them again."

04/18/2024

★★★★★ "Loved working with Lucas! He was very informative, did a thorough evaluation, and very prompt!"

04/10/2024

★★★★★ "Lykins Appraisal Group did a fantastic job! They were timely, available to answer all of my questions, and thorough with the appraisal process. I also received my results earlier than expected. Would definitely use them again!"

04/10/2024

★★★★★ "Great service! We had contacted several appraisers prior to Lykins and Lykins was responsive, professional, and delivered a very timely report. We highly recommend them!"

02/08/2023

Cost is a fact. Value is an opinion.