What do appraisers look for?

If you’ve recently purchased a home, refinanced, or gotten a home improvement loan, you may have asked yourself “what do appraisers look for”? When we snoop all over your home, look into closets, and make those funny sketches you may be wondering how this helps me come up with a value for your home.

Appraisers look for many things during our property inspection including, but not limited to the following:

• Replacement or refinishing of floors
• Updating or renovation of the home
• Upgraded features that add to marketability and quality of construction
• Features that date a home which can take away from it’s appeal and market ability
• Features that add to the homes functionality and usefulness as defined by the area it is in

By noting these features we can make better decisions as to what “comparables” to use and how to compare them to the subject property.  In a perfect world all of the sales would be very similar to the house we are appraising, however in real life it doesn’t work out that way.  Some homes are in better condition than others or have had various amounts of updating and renovation.  During our inspection we take note of these items so we will have a detailed record on which to base our final value estimate.  Take a look at this video I recently put together for examples of what appraisers look for.

Do you have questions about anything else an appraiser my look for in your home?  Leave me a message and I would be glad to answer any questions you may  have.

If you have any real estate appraisal related questions you can call me at 205.243.9304, email me, or connect with me on Facebook., Twitter, or Youtube.