An appraisal is an unbiased estimate of your property's market value conducted by a licensed professional and requires a thorough inspection of your property and its surrounding area. The appraiser also researches the market area holistically and comparable sales that are ideal for valuing your property. The inspection is part of the process in gathering the necessary data to accurately value your property, but the research, analysis, and report writing typically takes around 4 to 8 hours to complete, depending on the complexities of the property.

The purpose of an appraisal is to reassure your mortgage lender that they are not lending more than what your property is worth. The appraisal process for refinancing a mortgage is similar to if you are buying. In essence, you are switching out your old home loan for a new one, and your lender (the client for the appraisal) needs to know the value of your home to lend the right amount.

The values from Zillow (and other websites such as Redfin, Realtor.com, Trulia, Spokeo, etc.) can be accurate occasionally. However, they are based on computer algorithms known as automated valuation models. Typically AVM estimates are quite different from each other. The most accurate way to estimate the value of your property is to complete a thorough inspection of your property, research the comparable sales by human eyes rather than artificial intelligence, and provide additional support with the cost approach to value.

Valuing something as personal as your house takes a human approach in order to be accurate. We appraise your property at a granular level going above and beyond a computer's capability in order to accurately value your property.

In order to accurately value your property, the appraiser needs to have a similar point of view as the typical market participant would have if purchasing your property. What did you care about when you purchased your house? These important characteristics are probably the same, or similar, to the typical market participant and typically include, (in no particular order): Square footage Layout Amenities Structures Potential hazards Number of bedrooms and bathrooms Plumbing and heating systems Surfaces, appliances, handrails, flooring, fire escapes, and windows Exterior quality of your home (roof, foundation, siding, gutters, overall structure) Age and Condition Construction Quality View? Parking? local attractions? proximity to schools? busy roads? etc.

In addition to the Fannie Mae/Freddie Mac guidelines and specific client requests, appraisers must obtain state licenses, complete continuing education courses, and follow the Uniform Standards of Appraisal Practice (USPAP) guidelines.

Appraisers are trained to overlook clutter and view your property as 'if vacant'. Personal property items, (items that are not fixtures and suggest you actually live in your house) will not affect an appraisal if they don’t affect the structural integrity. A messy home should not affect an appraisal, but signs of neglect may influence a property’s market value and how much lenders are willing to let you borrow. Examples include: mold on the walls, peeling paint, old roof, water damage, damaged flooring, outdated appliances, broken windows, etc. Extreme clutter may also make it difficult for an appraiser to assess the value of your house. If excessive mess prevents them from entering rooms or viewing everything they need to, it may have an adverse impact on the appraised value.

For FHA Appraisals / Inspections: Please note, the Appraiser will adhere to the guidelines set forth by the FHA / HUD in the 4000.1 Guidebook. If you have questions or concerns regarding your property adhering to these guidelines, please reach out to your Realtor or the Appraiser. Some examples include: No subsurface on the exterior of the dwelling can be exposed to the elements (examples of this are: no exposed wood siding or sub roofing plywood, or rotted wooden fascia boards can be open to the elements on the home or any additional structures on the property). Your crawl space, attic and utilities will be inspected and tested at the time of inspection as well (examples of this are: Faucets will be turned on, Toilets will be flushed, HVAC will be run, Outlets and Lights will be tested). In addition, your Attic Access and Crawl Space access must be cleared and available for the Appraiser to access without hindrance.

Please notify Firgrove Appraising (scott@firgroveappraising.com) when you realize you need to cancel the appointment. Appraisers are VERY rigid with their schedule and your cooperation would be very much appreciated. Delayed cancellations may require a 'trip fee' for the Appraiser and their time. Please let us know if you have any other questions or concerns. We are happy to help!

The simple answer is no. USPAP notates that an Appraiser is only allowed to share confidential information with their direct client / Intended Users. This is typically the lender, unless it is a private party assignment. Due to this, the Appraiser can only share the valuation conclusion with the client and nobody else. However, the client can share the findings with whomever they decide thereafter.

It is considered normal and customary for the lender to provide a copy. However, per the same rules that bind the Appraisers distribution of their valuation opinion, also binds the distribution of the report as well. The report is written solely for the client / lender, and will only be distributed to them by the Appraiser. If you want a copy of the report, please contact your lending institution. (If you have ordered a Private Appraisal, the report will be sent directly to you by the Appraiser.)

This is a tricky question to answer. It highly depends on what a typical buyer in your market is considering when determining what is important to them in a house. So while it may COST a certain amount of money to install a feature / amenity, it does not mean that the typical buyer would place that much value or be willing to pay that much more for that amenity.

Simply, yes.