Appraisal

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An appraisal is an expert judgment or estimate of the value of real estate as of a given date, based on market comparison. The following factors are used to determine the value of the property: the amount of land and landscaping, the size and number of rooms and bathrooms, the size of the kitchen and its storage space, the size and condition of the basement, attic and screened-in porches, and the quality of construction. An appraiser will also assess whether electrical, plumbing, heating, and cooling systems are new or in good repair, and assess energy saving features such as storm windows, insulation, heat pumps, roofing, gutters, and siding. The convenience of the house is another factor in its value as well as the location. Some factors which do not weigh heavily into the value of a home are carpeting, wallpaper, lighting fixtures, and paint colors. For more information on appraisals, contact an appraiser or a real estate professional.

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