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Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.
One unique offering here is a value history, showing an estimate of how the home’s value has changed over the past 20 years. You can also use the tool to compare the property to similar homes in ...
Values may change over time, and many states require taxing jurisdictions to redetermine values every three or four years. The value of property is often determined based on current use of the property, rather than potential uses. [25] Property values are determined at a particular valuation date for each jurisdiction, which varies widely.
The sales comparison approach (SCA) is a real estate appraisal valuation method that relies on the assumption that a matrix of attributes or significant features of a property drive its value. For examples, in the case of a single family residence, such attributes might be floor area, views, location, number of bathrooms, lot size, age of the ...
The survey found that this cost can range from less than $300 to $800 or more, though, depending on a number of factors — including the size of the home, the value and condition of the property ...
💡Expert tip: Consider opting for a traditional appraisal if you've recently upgraded your home, have a unique home or if property values in your neighborhood are climbing quickly. An in-person ...
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