What Determines the Appraised Value of a Home?

Answer: WHEN DETERMINING MARKET VALUE USING THE MARKET APPROACH, GOOD COMPARABLES WHICH ARE MOST SIMILAR IN DESIGN,SIZE,LOCATION,CONDITION, AND RECENTLY SOLD.

Answer: The appraised value of a property is the Market Value. Market Value is defined as. "The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgably and assuming the price is not affected by undue stimulus"

Answer: Location and condition

Answer: Condition and location are important factors. The primary criterion, though, are recent and similar property sales that form the basis of the appraised value.

Answer: The market.

Answer: There are three ways to determine the value of anything, and each plays a part in property appraisal. Comparable sales, replacement cost, or income (of a rental or income property). Read more on our blog: http://bit.ly/2oxve4N