Residential Appraisal
The value, including the definition of value—such as market value, fair market value, liquidation value—and its effective date (retrospective/date of death, current market value, prospective/future value).
Analysis of the property’s key features like layout, size, and special amenities. We also assess the property's overall condition, identifying both strengths and any areas that may require attention, to give clients a comprehensive understanding of its current market value."
Background on the market, the home location, and the supporting information—including comparable properties—are all factored into the appraiser’s value determination to provide a precise and credible valuation.
Our detailed photo documentation captures every aspect of the property, providing a clear visual record to support our appraisal findings. Combined with accurate mapping, we ensure precise property boundaries and location data, offering clients a comprehensive view for informed decision-making.
Our proximate mapping highlights surrounding properties and key landmarks, giving clients a clear view of the property's location within its broader environment. This detailed mapping provides essential context, helping clients understand factors that may impact property value and investment potential.
The real estate appraisers of TH&A are trained property valuation professionals. Subscription to all local MLS services, on-line flood and tax databases, coupled with state-of-the-art appraisal technology allows for fast, accurate appraisals. Our appraisers live in the communities where they work allowing for extensive market knowledge ensuring accurate property valuations.
Fair market value is defined as "The most probable price in terms of money that a property should bring in a competitive and open market under all conditions requisite to a fair sale, assuming a buyer and seller, each acting prudently, and assuming the price is not affected by undue stimulus." Implicit in this definition is the sale as of a specified date and the passing of title from the seller to the buyer under the following conditions:
When appraising a property, the appraiser must consider all positive and negative features that would impact an Opinion of Value. While property values tend to rise when there are significant renovations, the value of a property will be negatively affected when deferred maintenance (needed repairs) are a factor. A competent appraiser will assess what repairs need to be made to bring the property up to neighborhood standards and calculate the cost.
Supply is the available inventory on the market with Demand being the number of buyers who are willing to purchase the inventory. Real Estate markets are constantly changing due to local, regional, and national economics, interest rates, fluctuating inventory, new construction, and many other economic factors.
The professional appraisers at TH&A will analyze the supply and demand within a particular market, as well as all market factors, and provide a well-supported and documented Opinion of Value.