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Avatar for Marketplace Housing
Marketplace Housing
4.3(
11
)
Appraisal - Real Estate

Serving Alex, OK and surrounding areas

In business since 2003

Free estimates

Emergency services offered

"Office staff is always available for help. No job is too small or too big. They are responsive to our needs for service requests from roofing to foundations. All aspects of home repairs have been done professionally and in a timely manner. I would recommend Marketplace Homes for all your property management needs regarding property repairs and maintenance."
Recommended by77%of homeowners
Avatar for Bigfoot 24/7 Garage Door Service
Bigfoot 24/7 Garage Door Service
4.8(
26
)
Appraisal - Real Estate

Serving Alex, OK and surrounding areas

In business since 2015

Free estimates

Emergency services offered

"Scott came out on a Saturday and fixed a snagged cable and reattached the motor to the ceiling. While he was working on it, he noticed my car tires were low. After he finished the job he offered to follow me to a gas station and he put air in the tires for me. Way above and beyond what was necessary!"
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Recommended by95%of homeowners
Michael Hardwick, LLC
5.0(
2
)
Appraisal - Real Estate

Serving Alex, OK and surrounding areas

In business since 1983

Free estimates

Credit card accepted

We take great pride in our experience, expertise, quality, and customer service that we provide to meet the consumer's needs. It is our mission to provide excellent workmanship and complete customer satisfaction from start to completion of a project. To understand the needs and expectations of our customers, we take great care to work and communicate with every customer in a professional manner. Our reputation is based on service, safety, and quality, regardless of how large or small the job.

Recommended by100%of homeowners
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.

Yes, installing a tennis court can be a worthwhile home improvement project that adds value to your property. The potential increase in value can range from $20,000 to $150,000, and in some cases, the return on investment can cover more than 60% of the installation cost. However, the impact on value heavily depends on the size of your property. For homes with multiple acres, a tennis court is often a valuable amenity. In contrast, for homes on smaller lots, installing a court can decrease the property's value because it consumes a significant portion of the usable yard space. It's crucial to consider your property size and the remaining usable yard before proceeding.

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.

Depending on the size of the home, the appraisal itself can take several hours. After the appraiser’s visit is complete, it can take between a few days and a few weeks to get the report back. This timeline is largely dependent on the appraiser’s workload, research requirements, efficiency, and other factors.

The Alex, OK homeowners’ guide to property appraisals

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