Appraisers do their research when it comes time to list comparables for your property. There are a lot of different variables involved in their decision.
Appraisers must find homes that have similar attributes to the property that they’re currently appraising. When comparing a home, you want the comparison to be as “apples to apples” as possible. If your home is a 3-bedroom 2-bath ranch home, then you would want the comparable property to be the same as well. You’d also want the same with square footage, materials used, lot size, etc. Comparing two properties that are nothing alike does not improve the value of the property that a homeowner wants to buy.
The Appraiser also needs to find properties that have sold recently within the same neighborhood. Ideally the home(s) would have sold within the last year. Sometimes, though, especially with more established neighborhoods, that just isn’t a possibility. The Appraiser then looks to find a neighborhood that’s comparable to the one that the property they’re appraising is located in. If that’s not possible, the Appraiser has a few other options to choose from to be able to pull comparables.
Appraisers need to have a good understanding of the markets that they serve. They need to be knowledgeable enough to find properties that fit the properties that they’re working.
Here at The Appraisal Station, we pride ourselves on providing the highest quality appraisal that we can for our customer. Our certified residential appraisers are fully trained and licensed and are standing by to help give you the knowledge that you need to make the best decisions possible for your home. In addition, we also have an Equine Appraiser on staff who is ready to assist with all of your equine appraisal need. If you’re looking for an appraisal, why not click here for a free quote or give us a call at 614-899-6943? 