"I spoke with Jessica about needing an appraisal for 2 property's that my in-laws own and that needed to be appraised fairly soon for Estate purposes. She was friendly and they had the appraisal done within a week! Great service!"
"Hired to do valuation of a manufactured home - not on land. Gave appraisal comparison properties included land. therefore not an accurate valuation. Thought salesperson understood nuance."
"Ultimately, I chose not to pursue this job with Mario because the job lends itself better as DIY... it's a rental property, after all, and the quality of work that Mario performs (i.e. high quality) is more than I need in the rental unit."
"Marketplace Homes has managed two residential rental properties for me, and everything has always been very easy. They coordinate showings, negotiated rent with tenants, and hired contractors as needed at each property. I would use them for any rental property I have in the future!"
"Excellent communications before our appointment and honest appraisal of the property advising us to find something else needing less work (less money for him). He pointed out many things we missed in our first look at the property. Very invaluable and we will use him in the future"
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.
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.
Basement bedrooms can count toward your room count and the square footage of your home on an appraisal if they’re fully legal, which means they have proper ventilation and points of egress, as defined by your local building code. Simply partitioning off a space for a bedroom in an otherwise unfinished basement that isn’t a legal living space won’t affect your appraisal value.
In short, yes, a pond can add to your home’s value. However, whether it adds value will depend on the condition and aesthetic of your pond. Having this feature already built into a yard’s home can be appealing to homebuyers who value its aesthetic and would prefer not to build it themselves. But if it is not kept in good condition, it could turn buyers away.
Appraisals are not mandatory but are helpful for pricing accuracy and negotiation purposes.
The Providence, RI homeowners’ guide to property appraisals
From average costs to expert advice, get all the answers you need to get your job done.
Home appraisals are an important part of buying or selling a home and getting a mortgage loan. Learn more about home appraisal costs and what they include.
FHA loans are backed by the government and come with specific FHA appraisal guidelines and requirements. Learn what an FHA appraisal entails in this guide.
