What appraisers bring to the table

What is the role of the appraiser in home valuations?

Where data, experience and insight meet In previous posts, we've talked about how appraisers use data and comparable sales in order to arrive at a valuation for properties. For residential properties, comparable sales tend to offer a good starting point: If four similar properties on the street have sold in the past few months, they provide a good indication of what your home is worth. But sometimes, you'll see two homes in the same neighbourhood that seem, on the surface,…...
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Kevin Slemko of Midtown Appraisal Group on valuation factors

What goes into an appraised value?

It's not just a comparison to the house next door. It happens to every appraiser, often once a week: Someone involved in the property buying and selling process says something like "Yeah, this appraisal won't be that hard. The house across the street sold a month ago and it's pretty much the same layout, so we expect the value of our property to be about that price - well, a bit more probably, since prices are going up so fast!"…...
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