Ferstl Valuation Services has offered trusted real estate appraisals in Little Rock since 1967, and we love helping people achieve their investment goals! An independent appraisal helps sellers determine a suitable listing price, and it helps buyers decide how much they’re prepared to offer. In addition to residential and commercial appraisals, we also provide real estate consulting services for investors who are considering updating their portfolios!
We’re proud to be one of the oldest and largest full-service appraisal firms in The Natural State, and J.T. Ferstl, MAI, is also an Arkansas-licensed attorney who offers expert witness testimony, trial preparation, and litigation support. Here are a few frequently asked questions about independent real estate appraisals, and we’re always a phone call away if you have any questions or if you’re ready to schedule a confidential consultation.
What factors affect property values in Arkansas? Property values are heavily influenced by supply and demand, and one of the quickest yardsticks for determining a property’s fair market value is its location and the recent sale price of comparable properties (commonly known as “comps”). Appraisers will also consider the physical condition and curb appeal of the property, as well as amenities such as pools, outbuildings, and recent kitchen and bathroom upgrades.
What happens during a property appraisal? During your initial site visit, a licensed appraiser will take some photos and review documentation, including the last sales price, recent land surveys, and improvements made since the most recent appraisal. Be sure to ask your appraiser for a list of required documents before the site visit, and prepare an itemized list of renovations and improvements with receipts or invoices attached.
What information is included in the appraisal report? Your appraisal report will include the current valuation, as well as a certification that the appraisal is an unbiased professional evaluation conducted in accordance with industry standards and guidelines. The report will also typically list any observed defects or issues adversely affecting the valuation. If you’re a seller, it’s always a good idea to review prior appraisals before you schedule your appraisal and resolve as many issues as your budget allows. And if you’re a buyer, be sure to consider the cost of those upgrades before making an official offer!
For more information about real estate appraisal services in Little Rock, contact us online or at 501-375-1439
