Phillip M Barlow and Associates provides residential and commercial appraisals for your property valuation and for foreclosure situations. We have served the state since 1981...
Antiques and Jewelry Appraisals questions, answered by experts
The differences between market value and appraised value depend on the local market, so they can match, or either one can be higher than the other. In a “seller’s market,” where there is an abundance of buyers, market value will likely sit higher than the appraised value because there’s more demand for the low inventory of homes. In a “buyer’s market,” where there are more homes than there are buyers, the market value is more likely to sit below the appraised value to entice buyers.
In cases where an appraisal comes in lower than an offer price, sellers might opt to lower their asking price to meet the appraisal, especially if the market is slow, and replacing the offer with a higher one may take a long time. Sellers can also offer to make repairs to boost the appraised value, hire another appraiser to get a second opinion, or just move on to another offer that isn’t contingent on the buyer getting a mortgage or an appraisal inspection.
The cost to appraise a home depends on the type. Common types include:
Single-family homes: $300–$400
FHA or VA single-family homes: $400–$500
Condominium: $300–$500
Multi-family home: $500–$1,000
Apartment building: $1,500–$3,000
Commercial properties: $1,400–$10,000
Raw land: $1,000–$8,000
In most cases, installing a tennis court on your property will drive up your property taxes. Property taxes are determined, in part, based on improvements made to your property, which includes anything with a permanent foundation. Since most home tennis courts include a large concrete foundation, your property taxes will likely increase following the installation. A general rule of thumb is that if your project requires permits—like for a foundation or fencing for a tennis court—then your property taxes will be affected.
A property valuation, sometimes called a comparative market analysis or CMA, provides a real estate expert’s opinion on how much your property will sell for. It takes many things into consideration, like the condition and location of the home, but ultimately, all that matters for a property valuation is what a buyer might be willing to pay for the property. An appraisal is more concerned with determining the value. A valuation is to estimate what you’ll get for a property, while an appraisal helps a lender establish loan-to-value ratios and loan amounts.
The Polacca, AZ homeowners’ guide to antique and jewelry appraisals
From average costs to expert advice, get all the answers you need to get your job done.
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