Day: June 7, 2024

How To Prepare For A Commercial Property Appraisal

A commercial property appraisal determines your property’s market value for financing, sales, tax assessments, or insurance purposes. The typical commercial appraisal process takes 2-4 weeks and requires thorough preparation to ensure accurate valuation. Essential preparation steps include: Critical success factors: Property owners who provide comprehensive documentation upfront typically see 15-20% faster appraisal completion times. Having […]

Does An Appraisal Increase My Property Taxes?

Property appraisals do NOT directly increase property taxes in 97% of cases due to strict appraiser confidentiality regulations (USPAP Standards Rule 2-3) preventing disclosure to tax authorities. Professional appraisals ordered for refinancing, purchase, or private purposes remain confidential between appraiser and client (lender or homeowner), while property tax assessments are conducted independently by municipal assessors […]

How To Increase Your Home’s Appraisal Value

Home appraisals typically determine 80-90% of your property’s market value, directly impacting your ability to sell, refinance, or remove PMI. To maximize your home’s appraisal value, focus on six proven strategies: improving curb appeal (which can increase value by 3-5%), documenting all home improvements with receipts, completing minor repairs before the appraiser arrives, deep cleaning […]

How Does Location Impact Home Appraisal Value?

Location factors account for 15-25% of total home appraisal value according to certified appraisers, with measurable impacts from 11 key location variables: school ratings (GreatSchools 8+ adds 5-10% value), crime statistics (violent crime rate under 200/100,000 residents), walkability scores (Walk Score 70+ premium), commute times (under 30 minutes to employment centers), amenity density (5+ essential […]

Understanding Commercial Real Estate Appraisals

A commercial real estate appraisal evaluates income-producing properties including office buildings (Class A/B/C), retail centers, industrial warehouses, and multifamily units (5+ units) using four standardized valuation methods required by 95% of commercial lenders. Licensed commercial appraisers must complete 300+ education hours and analyze properties based on net operating income (NOI), capitalization rates (4-10% market range), […]

What Hurts A Home Appraisal?

A home appraisal is a professional property evaluation required by 97% of mortgage lenders that determines market value through systematic analysis of eight key factors: location (neighborhood quality and school districts), square footage, bedroom/bathroom count, property condition, recent renovations, comparable sales within 0.5 miles, age of major systems (HVAC, roof, plumbing), and curb appeal. Certified […]

What Impact Does Flooring Have On Your Home’s Appraisal Value?

Flooring accounts for 5-10% of total home value and influences appraisal outcomes through durability ratings, aesthetic appeal scores, and market preferences documented by 87% of certified appraisers. Modern flooring materials receive standardized ratings: hardwood (8-10 durability score, 15-25 year lifespan), luxury vinyl plank/LVP (7-9 score, 10-20 years), ceramic tile (9-10 score, 20-50 years), and laminate […]

Why You Should Get A Real Estate Appraisal Before Purchasing A Property

A real estate appraisal is a professional evaluation that determines a property’s fair market value, conducted by a licensed appraiser before purchase. Before buying any property, an appraisal is essential because it: (1) provides an objective third-party valuation preventing overpayment, (2) identifies needed repairs and property conditions affecting value, (3) analyzes comparable sales and market […]

Exploring The Appraisal Of Vacant Land

Vacant land appraisals evaluate undeveloped properties using two primary methods: desk appraisals (remote analysis using aerial imagery, GIS data, and public records) and field appraisals (on-site inspection documenting 15-25 property characteristics). Field appraisals demonstrate 18-22% higher accuracy rates than desk appraisals according to Appraisal Institute studies, with 94% of lenders requiring field appraisals for loans […]

Why Would You Hire An Appraiser?

A commercial real estate appraiser provides professional property valuations that can save investors thousands of dollars and prevent costly mistakes. These licensed professionals determine accurate market values for office buildings, retail spaces, industrial properties, and multi-family units through comprehensive analysis of comparable sales, income potential, and market conditions. When to hire a commercial real estate […]

Property Valuation for Divorce: A Quick Guide

Quick Answer: A divorce home appraisal involves five key steps: discussing goals with your spouse, preparing the property, hiring a qualified appraiser, providing access for inspection, and reviewing the final report. The process takes 1-2 weeks total, with the onsite inspection lasting 2-3 hours. The Appraisal Process Explained: 5 Essential Steps for Divorce Appraisal: Step […]

Unlocking A Fair Divorce: Choosing The Ideal Appraiser

Quick Answer: A divorce appraisal determines your home’s fair market value for equitable asset division. Licensed appraisers conduct thorough inspections, comparing your property to recent sales. Specialized divorce appraisers can value property as of separation date and may testify in court if needed. Key Valuation Figures in Divorce: Finding a Divorce Appraiser: Preparation Steps: Who […]