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Avatar for Florida Appraisal Service, LLC
Florida Appraisal Service, LLC
5.0(
3
)
Appraisal - Real Estate

Serving Rockledge, FL and surrounding areas

Approved

Super Service Award Winner

In business since 2020

Free estimates

Offers commercial services

"We recently worked with appraiser Andrew on a property we have listed in Vero Beach, and the experience was excellent. Communication was prompt, clear, and to the point, with any questions addressed quickly and professionally. Andrew was a pleasure to work with and delivered the report on time, if not earlier. Great job, and thank you!"
Attic Inspection
Sketch to ANSI
Interior & Exterior Inspection
Response time6 hrs
Response rate93%
3 neighbors recently requested a quote
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Property Appraiser questions, answered by experts

Foundation cracks won’t always affect your appraised value. All foundations crack due to normal settlement, so hairline cracks that aren’t leaking or uneven from side to side are unlikely to have an impact on your appraisal. Structural cracks, on the other hand, often lead to a reduced appraised value, especially if the underlying problem will cause the issue to worsen over time.

Land doesn’t depreciate in the same way that a house, vehicle, or other property does, but it can lose value based on various factors. Environmental changes, nearby development, zoning changes, and economic downturns can all cause land to lose value over time. Value is a comparative figure, so as other related factors change, so can land’s value.

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.

While a finished basement adds value to your home, it is assigned a different value than space on the main floors. An appraiser will assess the square footage of a finished basement at about 50% to 60% of the value of the square footage for the rest of your home. Appraisal value for a finished basement depends on your location’s real estate market and the specifics of the basement and how it was finished. 

Whether a scullery is worth it depends on how much you like to cook and entertain. If you frequently host gatherings—a scullery is likely worth the money. If you’re looking for ROI, it’s not so clear. It may not add significant value to your home, as it doesn’t increase square footage and may repurpose space that a buyer would have preferred to remain as-is (like a laundry room). 

The Rockledge, FL homeowners’ guide to property appraisals

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