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Property Appraiser questions, answered by experts

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

Around 1-2 weeks, including inspection and reporting time for an official evaluation.

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.

An FHA appraisal is valid for 180 days from the effective date of the report. In some cases, you can have the appraisal recertified if you make your request before the original expires so that you still may obtain an FHA loan. If approved, your appraisal update is valid for one year.

Estate shutters are considered a high-end window treatment that increases home value. As previously mentioned, this project comes with an ROI of up to 75%. Shutters can also improve your home’s energy efficiency, especially if you choose PVC or faux wood shutters, which will lead to long-term savings on your energy bills.

The Glasgow, VA homeowners’ guide to property appraisals

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