How are Houses Appraised? Fresno, CA
There is no magic when it comes to valuing properties, just experience, current data, and education.
We first must determine the kind of appraisal report you need and how you intend to use the completed appraisal. This develops a scope of work. The scope of work is like a recipe.
You start with the main ingredients (the property) and build from there. What you have at the end of the appraisal process is an detailed well written appraisal report that is easily understood and supports the appraised value.
Our office is now located in Fresno,Ca We are not your typical appraisal company, we choose to work with individuals not banks or lenders. Today our clients are people just like you needing an appraisal for Estate Settlements, Trusts, Bankruptcy, Martial Disputes, Partnership settlements, Immigration and personal home valuations. We are local, experienced and qualified to appraise your home.
A big thank to our clients for their testimony and for their permission to use exterior photos of their homes.
Fresno Appraisal Service
6506 W Barstow
Fresno, CA 93723
559 -761 - 2370
Recent homes we have appraised.
Steps for a Real Estate Appraisal
Once we have received your request we begin to work . Our appraiser's work file is started before the appointment.
1. Pull subject data detail. The subject in this case is the property to be appraised.
2. Research active, pending, and closed sales for the neighborhood (defined market area) for the last six months.
3. Select comparable active, pending, and closed sales for the last six months. Comparable sales are properties that have characteristics that are similar to the subject property.
At the Property:
4.Take exterior photos of subject, including a street scene that shows the general character and condition of the neighborhood.
5. Measure exterior of home.
6.Take interior photos of subject, including photos of the kitchen, bathrooms and the fireplace.
7. Drive neighborhood (market area) and take exterior photos of comparable sales.
After Visiting the Property:
8. Research general data for neighborhood.
9. Pull specific market data for comparable sales.
10. Begin reporting process.
11. Upload photos.
12. Pull and upload plat map. The plat map shows the boundaries of each property and how they are oriented relative to each other.
13. Pull and upload survey map (when available).
14. Pull and upload location map.
15. Pull and upload Flood map.
16. Enter sketch (the diagram of the house) into sketching software to calculate square footage.
17. Confirm the Legal description of the property – usually (in CA) defined as Lot X, Block in Section Z of Subdivision G, where X, Y, Z and G are the specific details for the subject property. This information and the plat map make certain the subject property is the one being appraised.
18. Read the sales contract information if the appraisal is for a purchase transaction.
19. Write neighborhood description.
20. Write market description
21. Write the site description
22. Write a description of Improvements
23. Use the Sales Comparison Approach.
24. Make adjustments to the comparable properties to account for extra bathrooms, additional (or less) square footage, etc.
25. Analyze previous sales/transfers of the subject property.
26. Apply the Cost Approach to arrive at an additional determination of value.
27. Apply the Income Approach if this is an investment property.
28. Record a thorough explanation of adjustments in the report.
29. Perform the process of Reconciliation which means the appraiser weighs the results of the three different approaches to value and arrive at an opinion of value.
Please note that this is not simply an average of the three values.
Fresno Appraisal Service
559 - 761 - 2370
Our clients used the following guidelines to select Fresno Appraisal Service.
1. Select an appraiser that is local - our appraiser work and live in the California's Central Valley lives in your city or county. We know Fresno and Madera Counties
Market trend and values vary depending on location, school district, and neighborhood appeal.
2. Select an appraiser knows your neighborhood and market area.
Our appraisers know the many nuances of Fresno's neighborhoods. We are experienced and familiar with property values in your market area.
3. Prepare your home for appraisal inspection.
Our clients have all areas of their home accessible, doors unlocked, garage open, gates unlocked, bathrooms unoccupied etc.
4. If you know your neighborhood has special features tell your appraiser.
Walking distance to schools, shopping, parks - share this information with the appraiser.
5. My home has been updated.
List all improvements that have been completed in the past. ( new roof, additional square footage, out buildings, interior / exterior improvements etc) Give your list to your appraiser and answer any questions at this time.
Inman News Feeds