#1 HOUSTON PROPERTY APPRAISAL COMPANY

Just how much any single updates can add to your house’s market value, known as contributory value, can often vary widely from market to market, dictated by the desires of each neighborhood. It’s best to contact a professional real estate appraiser if you have questions about upgrades that would be compatible in your community and lend the most effective increase in market value.

The only group that is given access to the report from an appraiser is his/or client. The seller will only receive a copy of the report if the buyer desires to divulge the appraisal report. A prime scenario would be when the appraisal comes out lower than the sales amount and the home buyer divulges the report with the homeseller.

Certainly not! Your appraisal report is not shared with the county and the value is not made public. The only time an appraisal value would consequently impact taxes would be in the situation of a purchase and that would only be if you bought at the price of the appraisal.

The physical inspection of the real property being appraised can take from approximately fifteen minutes to several hours, depending upon the size and complexity of the property. An appraisal consists of a combination of on site inspection of the physical property as well as extensive research of comparable sales in the immediate neighborhood. Depending on what the client is needing and the intended use of the appraisal itself, the appraiser may consider many different forms to provide property value. Each form requires an appraiser to have a different approach to providing the value and some take longer than others. A short form report usually takes between three to six hours to complete. A narrative report is known to be the most complex and can take the longest to execute.

An appraiser formulates an opinion of value for a specific property, while an inspector educates the homeowner on the condition of certain components of the property. While the inspection is taking place, the appraiser should take a mental note of what the subject property backs and fronts to. If the subject property has a negative view, such as a powerline or commercial view, the appraiser will search for at least one comparable sale that provides the same view when doing his research. Appraisers will make adjustments in the comparable sales grid within the appraisal to prove similarity or dissimilarity between the subject property and the comparable sale. Knowing the condition and quality the subject property is in better helps appraisers pick out the right comparable sales.

An appraiser gets his or her information from a wide variety of sources, including the local MLS, county real estate tax assessors records, local real estate agents, county courthouse records, private public record data providers, interviews with sellers and buyers, and his or her own personal knowledge or job files from previously completed appraisals. By means of extensive market examination and examining market information relevant to the subject property a property appraiser is able to come to an opinion of value. If relevant, a property appraiser can use data furnished by his/her customer or a third party.

The appraisal is a research heavy approach whereby an appraiser analyzes general and specific information, distills applicable information, and uses this in his/her review to establish an opinion of value. The appraiser will complete several phases to conclude a final estimation of appraised value. The key stages of this process involves the implementation of the three approaches to value which include the Market Data Approach, the Cost Approach and Income Approach. All approaches which are utilized are reconciled and settled to a single opinion of value which represents the most likely value for the house. The market data procedure for value is typically the most accurate when determining price of residential properties.

Not only can appraisers not use those websites, they are also a bad source for information. Appraisers pull their data from Multiple Listing Service. If a sale transpired off the Multiple Listing Service, but is substantiated through trustworthy means, house appraisers can use that as well. Most house appraisers are not fond of the online valuation sites because of all their misleading and typically old specifics. If you’re looking for a better method to estimate sales information in your area, try searching the local Multiple Listing Service for active and pending listings.