There are a variety of reasons to request a real estate appraisal. In terms of reviewing comparables against the estimated value of your property, using a trusted Arkansas residential appraiser will ensure that you’re looking at accurate, comparative figures.
No matter what the reason for requesting an appraisal, it is important that the information you are given is as accurate as possible. You should expect a certified Arkansas residential appraiser, like the experts at Ferstl Valuation Services, to give you the most accurate estimated value of the property in the current market, and if the appraisal is needed for lending, to conduct the appraisal promptly, allowing your loan paperwork to process quickly.
The value of a certified Arkansas residential appraiser
An Arkansas residential appraiser will review sale comparables from the same competing area of real estate with features that closely match those of your property. With this data, we can determine what the average price of a certain sized home is selling for and about what you should be paying. Things to keep in mind as you look at comparables include:
- The length of time comparables have been on the market.
Comparables that are on the market for a long time could mean that either the seller was not motivated to sell, or could afford to wait for a better offer. In either case, the true value of the home may be inflated somewhat since the vast majority of sellers can’t wait a year or more before they sell their home.
- Amenities that either your house, or the comparables, don’t have.
Extra amenities that your house has can explain why it might be priced higher than other houses around the area. An Arkansas residential appraiser can help you accurately determine the value of something, like an in-ground swimming pool or privacy fencing, and how it might change a comparison between two houses.
- The pricing trend of your area.
If you can, try to look at comparables that have sold beyond the past 6 months. Is there a noticeable trend? Is the trend increasing or decreasing? Prices that seem to be going up at a relatively steady pace can be a very good thing for you when you sell your house. However, falling prices could mean you might have to sell for less than what you originally paid.
- How long do you plan on staying in the home?
Buyers planning on staying in a home for a long time may be able to focus more on the house itself and not the comparables. Over a span of a couple of decades, short term pricing fluctuations in neighborhood selling prices will not have much effect on you.
- If you plan on making improvements to the home.
A house in need of cosmetic or structural improvements should be priced well below what renovated comparable houses have sold for. The extra money that you will need to invest in the house should come from the difference between the market value and what you ultimately end up paying for the house.
Contact an Experienced Arkansas Residential Appraisal Service
We understand the importance of an accurate appraisal. Contact a credible Arkansas residential appraiser to help you through the entire process. You deserve to have the best appraisers working for you. Request a residential quote from Ferstl Valuation Services today.