Get matched with top antique and jewelry appraisers in Corbett, OR

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 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

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 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.