Real Estate Appraisers in the Houston Heights

Appraisers do not use Zillow, Trulia, Realtor.com, etc. Appraisers pull their data from MLS. Appraisers can also use comps not sold through MLS if they are available, but ample documentation must be provided. Most appraisers are not fans of the online valuation sites due to their misleading and often outdated information. If you’re looking for a better way to ballpark sales data in your area, try searching the local MLS for active and pending listings.

Once an appraiser is given access to a home, the measurement and inspection portion may take anywhere from thirty minutes to a few hours depending on the size and condition of the home. When the field work is finished, the appraiser completes the report at his office. A narrative report is the most detailed report available and is commonly used by lenders or clients who want or need a great deal of information in an appraisal, while a short form is the exact opposite and is provided to clients who need very little information and just interested in the property value. A short form is an exterior-only inspection of the subject property, therefore, little time is spent at the subject property and most of the appraiser’s work is done from the office. Because most narrative reports provide a substantial amount of in-depth information about the subject property, they can take much longer than any other report.

Because much private, corporate, and public wealth lies in real estate, the determination of its value is essential to the economic well-being of society. It is the job of the professional appraiser to determine these values by gathering, analyzing, and applying information pertinent to a property. The appraiser plays a pivotal role in assuring the homeowner feels more secure in their purchase of a new home. Due to the risk involved for borrowers and lenders, the appraiser’s opinion of value reduces the possibility of overpaying or over lending on the purchase of real property.