What Is Appraised Value?

An appraised value is an estimate of the home’s value. There is no exact method so appraisals will be different from each other.

Appraisals are made based on the current market, so they are done by using homes that have just been sold and homes that are currently on the market. Appraisers will appraise your home for the buyer’s lender to approve the loan.

REALTORS are not appraiser, however since appraisal are based on current market static we are able to make a market analyses on your property to find a sales price. When I price a home I use the age of the home, the size of the home, and distance to subject property for the criteria of the analyses. I average out the homes sold and current homes to find a price range for the home. So if the price arrange is 110K to 128K and the house has more upgrades than the other homes in the neighborhood than I would list the house closer to the 128K range. If the home needs to be sold quickly than I would list the home for around 110K.