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Avatar for Central Lending Svc Inc dba Credit Central
Central Lending Svc Inc dba Credit Central
4.8(
72
)
Appraisal - Real Estate

Serving Purchase, NY and surrounding areas

In business since 2003

Emergency services offered

"This is the second time I've turned to Mark for help in getting a home loan. The reason I'm a repeat customer is that Mark is great. He always gets me the absolute best rate and is an honest, tell-it-like-it-is person - so very appreciated during the confusing and scary process of getting a mortgage.
I tend to run a little on the neurotic side, and Mark handled my constant badgering and near freak-outs with great finesse, providing just the right amount of hand-holding and straight-up advice. This time around, I bought my home through a private sale, meaning neither party used a realtor. So I needed even more attention and guidance. Mark not only did a great job with the mortgage, he also gave me invaluable advice on issues related to the sale but outside his scope, such as home inspection.
A big THANKS to Mark. I couldn't have done it without you and Judy!


"
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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.

While there's not a lot of definite research, some experts suggest that an in-ground or wall-mounted basketball hoop can add value to your home by increasing curb appeal. In addition, having a basketball hoop is an attractive feature of a house since it promotes physical activity, especially for children.

The condition and appearance of your yard can affect your home appraisal value. A well-maintained, attractive yard with curb appeal adds to a property’s value, while an overgrown, messy, poorly maintained yard can hurt your home’s appraisal. Even small cosmetic improvements to your yard, like adding mulch, trimming trees, and cleaning out plant beds, can help your appraisal value.

While some aspects of an appraisal, such as comparable properties nearby, are out of your control, there are several steps you can take to potentially increase your home's value. Make any necessary repairs and upgrades before the appraiser's visit, as they can only value what is currently part of the home, not its potential. Examples include renovating older areas, updating landscaping to boost curb appeal, and staging your home. You can also provide the appraiser with the cost of recent upgrades, which may increase your home's value by about 50% or more of what you paid for those improvements.

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. 

The Purchase, NY homeowners’ guide to property appraisals

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