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Gregory James CO
5.0(
1
)
Appraisal - Real Estate

Serving Armuchee, GA and surrounding areas

In business since 1984

Free estimates

Credit card accepted

"The appraisal was done professionally, efficiently and timely. Greg Shelley, who did the appraisal for our property was easy to work with, thorough and very helpful. He was easily contacted for follow-up questions and quickly responded to my inquiries. I highly recommend Greg Shelley and his company Gregory James CO."
Response time9 hrs
Recommended by100%of homeowners
Avatar for REESE & SMALLWOOD REAL ESTATE
REESE & SMALLWOOD REAL ESTATE
5.0(
1
)
Appraisal - Real Estate

Serving Armuchee, GA and surrounding areas

In business since 1990

Help clients to sell and buy residential and commercial real estate. I am experienced in foreclosure sales and marketing. I am also experienced in short sale process I have been a full time realtor since 2004.

Recommended by100%of homeowners
Property Appraiser questions, answered by experts

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 purpose of the home appraisal determines which party pays for it. You’re generally responsible for the cost if you need to know the current value of your home to refinance your mortgage, though in some instances the lender will pay for it. The buyer pays for the appraisal when they are applying for their mortgage.

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.

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. 

Some appraisers hold a Member of the Appraisal Institute designation. This accolade is the highest credential property appraisers can earn. An MAI appraisal is typically used for commercial properties.

While your lender will likely recommend an appraiser, you can also hire a professional home appraiser on your own. Choose someone who is experienced in your type of residential property, and ensure they hold all of the necessary credentials that your state or region requires.

The Armuchee, GA homeowners’ guide to property appraisals

From average costs to expert advice, get all the answers you need to get your job done.