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· I know home appraisals are not always what you expect to get. Like everyone money is tight, not what I thought it would be when I bought my house 2 years ago. I am trying to get a home equity loan. I finally got the appraisal and to my surprise (I knew it would be lower but not like this) it was $42,000 under what my home was appraised for last year.
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This home price estimation service provides information about the value of your house or condo. Estimates are available for millions of homes across the US. It is not an actual appraisal and is only an estimate based on real estate market information such as recent sales prices, public records, property sales data, tax records and real estate market trends.
"The deadline to protest the appraised value of your property has changed to May 15, or 30 days after a notice is mailed, whichever is later," a news release from BCAD states. Protests must be.
Your home appraisal value is based on an array of factors. They each hold different weight when evaluating your home. The ultimate goal of a home appraisal is to place your home on the market fairly based on a comparable set of standards, and the surrounding area. Here are 13 Factors That Influence Your Home Appraisal Value: 1. Location
· Home sellers often ask me if they should spend a little extra money and obtain an appraisal from a professional appraiser prior to listing a home for sale. I can understand that sentiment, but unless the property is so unique that the listing agent cannot prepare a comparative market analysis, paying for a full-fledged appraisal might be overkill.
· Still, you can request a local appraiser. Ideally, this professional should live within a 10 to 15-mile radius of your home. If the appraiser isn’t too familiar with the area, there’s a chance the appraisal will come in for less than your property’s actual worth. A low appraisal can be the kiss of death when refinancing a mortgage.
To get the best-appraised value, we’ll help you learn how to prepare for a home appraisal with 10 tips to better equip yourself and your home. What’s a home appraisal? A home appraisal helps set your home’s market value or how much the home is worth. This also includes the value of the land where the home is built.