Appraisals

Appraisals are an opinion of Real Estate value and it's improvements developed using standards set forth by the Uniform Standards of Professional Appraisal Practice (USPAP). Generally, three approaches to value are used in developing an opinion:

cost approach,
sales comparison approach, and
income approach.

A systematic procedure is followed in order to arrive at a logical value estimate for real property as of a specific date. Every effort is made to conform to the USPAP FNMA/FHLMC guidelines, the code of ethics of the appraisal institute, the National Association of fee appraisers, and the additional requirements of secondary market investors.

Examples of those obtaining an appraisal:

Buyers of Real Estate	Sellers of Real Estate
Mortgage Companies	Banks
Credit Unions	FHA (Federal Housing Administration)
Savings & Loan Associations	Attorneys
Tax Assessors	City, State, Federal Governments
Estates Investors

We, at Hometowne Realty perform many home appraisals each year. Give me a call today so we can arrange a professional appraisal of your home.