Real estate appraisals & Mortgage appraisals
[ Close ]
Find an appraiser :

Real estate appraisals & Mortgage appraisals

A real estate appraisal is an opinion of value ...

A real estate appraisal is an opinion of value or the act or process of estimating value of a property. This opinion is derived using one, two or all three common appraisal approaches. These approaches are the sales comparison approach, cost approach and income approach.
  • Sales Comparison Approach to value makes use of other "comparable" properties of similar size, quality and location that have recently sold. A comparison is made to the subject property and monetary adjustments are made to reflect any differences with the comparable property. The comparison approach is by far the most utilized appraisal approach.

  •  
  • Cost Approach to value is what it would cost to replace or reproduce the improvements as of the date of the appraisal, less the physical depreciation, functional obsolescence and or economic obsolescence plus the value of the land.

  •  
  • Income Approach to value is of primary importance in ascertaining the value of income producing properties. This approach provides an objective estimate of what a prudent investor would pay based upon the net income the property produces.

Reasons why you should have an appraisal done:








Anytime you need to determine the value of your property. For additional information on our appraisal services or to place an order, please contact our office