Real Estate Appraisals - Charlottesville VA

Real Estate Appraisals

What you may be wandering about real estate appraisals and their purpose. Real estate appraisals will provide important information about your property as well as it's current value.
A real estate appraiser is an impartial, independent third party who provides an objective report on the estimate of value of real estate. Real estate appraisals are supported by the collection and analysis of data.
When Should I Use An Appraiser?
You will likely need the services of a real estate appraiser whenever an estimate of the value of your real estate is required. Most commonly, this occurs when you apply for a real estate loan, either to purchase or refinance your home. You may also use real estate appraisals to assist in the appeal of property tax assessments, for insurance purposes, for probate and estate settlements or other reasons. 
What's My Property Worth?
It is common to ask the appraiser this question as soon as the appraiser has inspected the property. The truth is at that time the appraiser doesn't yet know. The inspection is the first step of many that the appraiser must complete before a value is determined. The appraiser measures the house from the outside to determine square footage. The appraiser takes notes concerning the features of your house such as room layout, number of bedrooms, baths, etc. The appraiser also makes a determination of the general condition, appeal and functional layout of your house. All of these items are taken into consideration in real estate appraisals. 
How Long Does a Real Estate Appraisal Take?
The physical inspection of a typical property usually takes about twenty to forty-five minutes. Sometimes an inspection can take longer if the house is difficult to measure or has some unique features that require additional investigation by the appraiser. After the initial inspection of the property the appraiser spends time examining or analyzing the neighborhood or area. The purpose of this is to search for other properties that are similar to the property being appraised that have sold recently and examine neighborhood influences. When the fieldwork is finished, the appraiser completes the report at his office. Then real estate appraisals are provided. 
What Does The Appraiser Need to Know?
To help appraisers complete real estate appraisals provide any information that may be helpful. Please tell the appraiser of any previous sale on the property within the last 12 months. Indicate if there is a pending contract to purchase on the property. Does the property have any right of way or other easements? Is there structural damage, or water leakage in the house? Is the property in a flood zone? Basically, inform the appraiser about any hidden features or detriments to the property.

If you'd like to know the value of your  Charlottesville real estate I can help. Although I cannot provide real estate appraisals, I can provide you with a comparative market analysis.  A Comparative Market Analysis can tell you what your home is likely to appraise for. 

 Your home value report will include the following

 Recent home sales that compare to your home

What your home is likely to appraise for

Average sales prices

Average price per square foot

Detailed market information specific to your area

Pricing strategies and statistics

Current Inventory

Average days on market

 

Visit my Seller Resources page for tips and advise when planning to sell your real estate. Check out the 8 tips for selling your home and how to price and still make a profit. 

 

Contact Sherry Hayward, residential listing specialist with Keller Williams Charlottesville 
(434) 515-1592 - Listing Line 
(703) 655-2223 - Direct 
shaywardkw@gmail.com