Home Value | Home Appraisers | Licensed Appraisers | Home Valuation | Property Appraiser

Home Appraisal - House Appraisal

Need a property or home appraisal expert in your city or state? You'll find real estate appraisal companies, and state licensed home appraisers all in or near the city you live in. House appraisal is a term normally associated with home inspection or with appraisal of a house structure. A property appraiser is a government agent who appraises property for tax assessment purposes. A home appraiser is a professionally licensed expert in real estate evaluation. They do assessment and evaluation of more than just the home itself. The property, neighborhood, city and economic conditions all come into play when conducting home evaluation.

A home appraisal is normally carried out by professional, state-licensed appraisers. When appraising a residential property, they will take into account a number of important factors. The appraiser will complete a home appraisal form to record the pertinent information. Mortgage companies, bank lenders and other creditors require home appraisals to make risk decisions for home mortgages, home equity loans, and credit lines. With a credible home appraisal, you will be in a stronger position to negotiate with creditors when buying, and with home buyers when selling your home. The information a home appraisal generates will help you make better investment decisions whether you're buying a home as your residence or as an investment property.

Home Appraisal Criteria

The professional home appraiser will consider not only the condition of the house, but the attractiveness of the neighborhood where the house is located:

• location of the house - rural, urban and neighborhood quality
• age and condition of the house
• size of the home and property
• nearness to hazardous, noisy, polluting sources such as factories or industrial properties
• proximity to local services
• current real estate market conditions and prior sales will be factors

Home Appraiser Accuracy

Although home appraisers provide reasonably accurate estimates based on their their professional guidelines and obligations, there are other factors which may have a strong effect on the future value of  the home and property to be assessed. Impending city bylaws, tax reassessments, and local plant foreclosures are three such events which can seriously diminish the value of the property.

Some appraisers may miss, or not be able to find important clues as to the condition of the house or feature on the property such as a swimming pool or septic tank. Finding a competent home appraisal professional can make a difference in your financial future.

The taxpayer's right to equal and fair appraisal is an important concept in residential property taxation. Homes should not be over-valued or under-valued in relation to similar residential properties in the area. You can review the appraiser's appraisal report of similar properties and verify that the information the appraisal company has on your property is factually correct.