Home Appraisers in Fresno & Madera County
Determining your home's local market value is vital when it comes to settlements or selling your house. Our appraisers live and work in Fresno County and Madera County.
Our clients are individuals like you, needing help in Estate Settlements, Probates, Trusts, Buyers, Sellers, Divorces, Disputes, and Bankruptcies (Ch.7, Ch.13). We appraise homes, land and multi family properties throughout Fresno County and Madera County.
How can an Appraisal Report help me?
There are several advantages you gain with an appraisal. The most notable, peace of mind and knowing how much your home is worth.
When is a professional appraiser needed? Settling estates, selling, probates, trusts, filing bankruptcy, immigration valuation, or divorce settlements.
Let's look at a recent appraisal order--
RENTER - you are a landlord and want to sell your home to a tenant.
I was contacted by out of town home owner, his tenant wanted to buy his Clovis home. But for how much? Online home searches did not provide him with a clear and credible valuation. My client had renovated / updated the property, his home was superior to many in the neighborhood and the property produced a monthly income.
How much? He needed a true valuation that took his home's location, condition, income and the subject's market area into consideration.
A "Market Value" appraisal was ordered. How much would the property sell for in the current market, between a willing seller and a willing buyer.
I contacted his tenant and set an appointment. The home was located in Tarpy Village, Clovis, CA. I am probably dating myself here, but I remember when Tarpy Village was first built. Clovis had only one high school and Clovis Ave had two lanes and only one stop light. OK, back to the report. The home had been completely renovated, updated kitchen, bathrooms, flooring, windows, exterior re-dashed, new roof, fixtures and large over grown trees were removed. Indeed it was one of the best homes in the neighborhood.
After my inspection, I selected comparables properties that were similar to the subject in features, condition and location. These were inspected and the final comparables most similar to the subject were used in my valuation.
Remember, the home was a rental, therefore it was necessary to also develop an
estimated value using the Income Approach.
The income approach is a type of real estate appraisal method that allows investors to estimate the value of a property based on the income the property generates. It's used by taking the net operating income (NOI) of the rent collected and dividing it by the capitalization rate.
The Sales Approach and Income Approach were used to developed the estimate market value.
The completed report was emailed to our client, who then sold the home directly to his tenant.
"Date of Death"
Retrospective appraisal, uses the date the loved one passed away. Effective Date.
Dealing with logistics and paperwork after a loved one passes is not something anyone looks forward to doing, and ordering an appraisal is definitely a part of that. If you are in a situation where a loved one passed away, and you need an appraisal for the IRS (for tax purposes), here are five things to provide to the appraiser. I hope this is helpful.
5 things to provide for the appraiser:
Market value is the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
Using past sales and data we developed a retrospective (date of death) valuation. Recent sales were used to develop home's current value and marketing time. .
The happy ending to the story, the selling price was higher than "CASH NOW" offers and his mom's home was purchased by a first time home buyer who love the house.
I have questions, can I call?
Yes, by all means call us. There is no charge for speaking with an appraiser. Ask us questions. Websites are great but when it comes to asking questions there are times when you need to speak with a REAL person. So, if you have questions, give us a call. #559-761-2370
How Do I Get My House Appraised?
The easiest way to order an appraisal is by calling our office. Your call will be answered by a qualified licensed appraiser. There is no charge to speak with an appraiser and you are under no obligation to order a appraisal report.
How Long Does an Appraisal Take?
Most residential properties are completed within one week from inspection. Unique homes, retrospective & "Date of Death" appraisals may require additional time for research.
How Do You Estimate a Home's Value?
An appraisal is a type of investigation into the law of probabilities with respect to valuation. Through our experience, training and integrity, our appraisers are able to project the activities of buyers and sellers in the marketplace into an estimation of value. In reaching a conclusion, comparison of features usually involves adjustments due to the individuality and uniqueness of each. The opinion of value is the result of a thorough processional analysis of a vast quantity of data.
What is a Date of Death Appraisal?
Definition "Date of Death" / Retrospective Value is generally defined as:
“A value opinion effective as of a specified historical date. The term does not define a type of value. Instead, it identifies a value opinion as being effective at some specific prior date. Value as of a historical date is frequently sought in connection with property tax appeals, damage models, lease renegotiation, deficiency judgments, estate tax, and condemnation. Inclusion of the type of value with this term is appropriate, e.g., “retrospective market value opinion.”
Source:Appraisal Institute, The Dictionary of Real Estate Appraisal, 5th ed. (Chicago:Appraisal Institute, 2010).