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Services
- Conventional
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FHA
- Rural Development
- MSHDA
- Residential single family
- Income property
- Vacant Land
- Farms
- Estate Valuations
- Divorce work
- Appraisal Reviews
- Executive Relocation Appraisals
Our membership with 7 multiple listing systems, relationships with several area real estate brokers and our own extensive database provides our appraisers with the latest information available. We know the markets we serve.
Our goal is to provide the client with the most accurate appraisal product available in the market place today in a timely manner.
Processes Used
A typical appraisal appointment will take 30 minutes. An appraiser will look at both the interior and exterior of the home. The exterior of the home and all outbuildings will be measured. We do not rely on survey information. Color photos will be taken of the exterior of the home and all outbuildings. The appraisal report will contain as much information on the property as possible. Included will be a description of all major amenities (decks,
pools, fireplaces etc.) there will also be a description of the style of the home (ranch, Cape Cod, etc.). We will take into consideration the number of rooms, materials used in construction such as ceramic tile, drywall etc. The report will also include a description of the neighborhood, access to shopping, schools and employment.
Once our on site evaluation is completed, the real work begins. When applicable the cost approach to value is used. We use the Marshall and Swift National Cost Handbook to determine what it would cost to rebuild the home today then we depreciate it based on condition. This approach to value is not always applicable however. In the income approach to value homes that are similar to the subject being leased are considered and the income value of the property is considered. This approach to value is seldom used because most single-family homes are not used for income purposes.
The Market Data approach to value is the most widely used approach to value. In this approach properties that have sold recently or as most recently as possible are reviewed. Then 3 or more properties that are in similar neighborhoods to the subject, are close in size and room count, and have as many of the extras or other features as the subject are compared to each other. The appraiser will make adjustments where the properties differ and a final value estimate will be reached based on a range of adjusted sales prices.
Our extensive database of sold properties, our membership in 7
multiple listing systems and our numerous contacts with Realtors in every market we service, provides us with the tools we need to produce the most accurate appraisal product available in the marketplace today.
All information in the report is confidential and for the exclusive use of the client only. Information is never shared with anyone other than the client without a court order.
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Real
Estate Appraisers Inc.