I am a local realtor and would like to give specific contact information where I can be reached if the appraiser has a question on a listing of mine. Where can I submit this?
We love establishing a good rapport with realtors. Please visit https://pilgrimcolonial.com/realtors/
The appraiser’s GLA is different that what I have recorded with my town/city. Why is that?
The town or city card is often an approximation. This is common with many Cape style homes or homes without a full second story. It is common to see assessors data to simply multiply the ground floor by 1.5 or 1.75 depending on the dormers on your home.
Another common issue is the “Gross Living Area” considered in the basement. Although your home may have a finish to the lower level with quality is similar to the rest of the home, if that level is below grade then the appraiser will count that as basement space with a finished area. This is fairly common in raised ranches or split-level homes. Value is still considered but not on the living area line.
I am an appraiser not in your local area but would like to be a part of your network. Can I join?
Yes, Pilgrim Colonial Appraisal Services works with both local and national clients. We are constantly seeking new relationships and broadening our reach. Please apply here.
Why is my shed, solar panels, sprinkler system, above ground pool not mentioned or given value in the appraisal report?
Appraisers are giving an opinion of market value of your home. Simply stated, what is someone likely to pay for your home on a specific date in time. These items can be omitted on an MLS (multiple listing service) listing. When your home is being appraised, the lender requires the appraiser to compare your home to other homes on the market. Items like sheds, sprinkler systems and above ground pools are often not listed on the comparables but may in fact be an item that was included in that comparable sale.
With the recent rise of solar voltaic systems on homes, solar panel systems are becoming more prevalent on homes. A similar issue may be that comparable are not mentioning the solar panels, or the fact that they were leased or owned by that home owner. Market reaction to solar panels is mixed and some buyers simply do not want them on their home. At this time, MLS does not offer a field that can be filtered by solar panel ownership. Solar panels do offer a savings and depending if its grid-tie or battery stored an appraiser may at time calculate an adjustment for them.
There is a cost to the items of your home. You may have an in-ground pool that was very expensive to install. The challenge however is valuing these items based on market reaction. What is the market willing to spend on X feature?
Why does the appraiser take photos of my rooms?
Appraisers are required by lenders to report the condition and quality of your home. They often require pictures of each room. Be ensured that your photo is strictly confidential and are only submitted to the lender to satisfy the requirements of the appraisal.
Why did someone take a photo of my house? I did not request any appraisal service.
It is very concerning to see someone take a photo of your home. Appraisers are almost always required by lenders to take homes of comparable homes. These are the homes that the appraiser is comparing to the home that is being appraised. It may be that your home recently sold (within the year) or the appraiser was able to get some rental data on your apartment.
This is a safety concern for many appraisers today. It is an ongoing debate as to the necessity from the lender to have a photo of your home from the street. Appraisers would be safer without having to take these photos and it would avoid the concern. Although it is legal to take photos from public roadways, it may be unsettling. We try to be discreet as possible to complete this portion of our jobs.
The appraiser only adjusted a nominal dollar amount for the square footage of my home. My town the going rate per sq.ft. is $160.00 sq.ft. Why did she do that?
The living area adjustment is often a smaller value because the acreage, bathrooms, bedrooms, quality and condition are already in consideration. If the appraiser adjusted at 160.00, she would over adjusting because the other items are factored already.
