Many homeowners in San Diego want to update their home by adding square footage because it is believed that if the property has more square footage it will be worth more. Something that many homeowners in this situation do not consider is the homes in their neighborhood. If your property is overbuild with more square footage than homes in your neighborhood it can make it difficult to appraise.
A San Diego real estate appraisal is an evaluation of the value of a specific property. An appraisal can be used in many circumstances and for many different people. The most common reasons real estate appraisals are requested in San Diego County are for purchasing, selling or refinancing a property. Some of the other reasons for an appraisal are divorce, bankruptcy, bail bonds, estate & date of death, financial planning and trust, PMI removal, pre-foreclosure, short sales, tax assessment, pre-listing, pre-purchasing, FSBO’s, and probate appraisals.
When buying a home it can often feel like there are countless fees, charges, and payments to make. When appraising a property in San Diego home appraisers often get a question regarding if an appraiser is the same as an inspector and if an inspector is still required after an appraisal. Many homeowners are confused as to why they need both an inspection and an appraisal because they think they are the same and don’t want to pay for both. From first glance it is understandable why so many homeowners think they are the same but once the differences are explained you will better understand how they are different and why both are necessary.
If you are looking for an appraiser in the San Diego area you have probably been told to find a Certified Residential appraiser. In California there are 4 appraiser levels which are trainee (AT), Licensed Residential (AL), Certified Residential (AR), and Certified General (AG). Read More
As of 2009 all appraisals including ones from San Diego County submitted to Fannie Mae and Freddie Mac are required to have a Market Condition Addendum or 1004 MC form. On this form there is statistical information for properties that are similar or comparable to the property being appraised. Read More
As an appraiser it is important to be educated and current on the trends of your market area, which is why the majority of our work for the past 25 years has been in San Diego County. Understanding and being familiar with the area in which a home is being appraised is extremely important in locating comparable sales, understanding land value, home value, and where to find similar comparable sales. It would be difficult to accurately appraise a home with little knowledge of the neighborhood and surrounding areas. By appraising locally in San Diego we are familiar with the neighborhoods, which neighborhoods are similar and different, which are valued higher or lower, what is common for a specific neighborhood, and what the market trend is currently doing in that neighborhood. Read More
A “Subject to” San Diego appraisal is one that many people do not understand or have not heard about but in most cases it is a helpful tool to know. “Subject to” appraisals occur when there are repairs needed or improvements uncompleted to a home. “A subject to” appraisal values the home as if the repairs and improvements are completed with a statement in the appraisal saying the appraisal will be “subject to” the completion of the repairs or improvements. Read More
There are a few myths about San Diego appraisers that we would like to clear up for you. Listed below are 4 of the most commonly known myths that appraisers are confronted with. Read More
San Diego Homeowners often are looking for ways to improve the value of their home but do not know which items will add value, an appraiser can help you with this problem by providing you with a pre listing appraisal. So many homeowners are upset that the updates that they have completed on their home do not increase the value or have very little effect.There are many things that a homeowner may update in their home to make it better for themselves however these same items may not increase the value of the home.