What Will Influence an Appraiser With House Values

When it comes to appraising homes there is a lot that goes into arriving at a value. The appraiser is going to look at many factors that influence appraised value. They will start by looking at the exterior of your home and taking note of any imperfections. Of course, the appraiser is looking at how well kept your property is as well because they will be comparing your property to others. These comparisons are referred to as "comparable properties".

The appraiser is also going to note any additional structures that may be looked on the property such as barns, outbuildings, sheds and if you have a pool. All of these additional items will play a role in determining the value.

Once inside the appraiser will be looking over numerous items including the size of rooms, the amenities the home has, the condition, as well as anything that would be considered unusual. They will be measuring the property and looking carefully at the number of bedroom and baths the house possesses. Kitchens and baths tend to play a significant role in the appraised value.

It is important for real estate agents to attend the appraisal and point out any recent improvements to the appraiser. Large expenditures such as an updated kitchen or bath can play a hand in where the appraised value comes in at.

The appraiser will look at other external factors as well such as the location of the home. Does the home reside in one of the most popular neighborhoods in town? Location will be a significant factor when it comes to market value. Appraisers will be making adjustments as part of their appraisal report based on location.

If your home is on a busy road for example, you can expect to see you home value to be downgraded a bit. If you are in the best location in the area it will be upgraded.

If you look at the included reference from Maximum Real Estate Exposure, you will see an in-depth overview of all the things that go into coming up with a value of a given property. Some things with appraisals are subjective so it makes sense to do what you can to make your home look its very best.

Like any kind of valuation there are opinions that are formed and grades assigned when it comes to appraisals. It makes sense to do what you can beforehand to prepare for the appraisal.