The Appraisal Process

Before we get started with your appraisal, we will conduct a brief phone consultation.  Some of the important things that will help us determine how we proceed with your real estate evaluation needs include; the type of property you need evaluated, the purpose for the appraisal, and when you are available for an inspection of the property.

Below is more information on the process and different types of evaluation methods we would use depending upon your property type and purpose for the appraisal.

Interior & Exterior Inspection

A full interior & exterior inspection of the property are completed.  The overall condition of the property, along with any improvements or defetcs that impact the value of the home are noted, along with photographs & sketches of each room.

Neighborhood Assessment

We will assess the proximity to servies, facilities and other amenties that may or may not relate to the overall market value of the propery.  This analysis will be included in our final report.

Comparable Assessment

We will research all comparable & confirmed sales in a given proximity to the property.  Certain positive and negative value adjustment are made based on these comparable properties.

Sales Comparison Approach

This is the most common evaluation approach used for residential properties; including primary, secondary and investment single family residences.

This approach is build on the premise that the market value of a property is derived at by comparable surrounding properties.

Cost Approach

This evaluation approach is based on the principal of substitution.  Meaning, a person would not pay more for a property than a like-kind could be acquired. 

This approach takes into account and analyzes market trends as defined by two specific criteria; land value plus land improvements, minus depreciation.

Income Approach

Income approach is generally reserved to valuate commercial, industrial and multi family investment properties. 

Market value is determined using the income capitalzation approach; relying on the perspective that potential earning power of real estate is coorelated to its actual value. Income Capitalizion is used to analyze sales data that measures potential profit & loss.