GenevieveTalton738
Real estate appraisal is that the real one?
Real estate appraisal or property valuation is the process of determining the value of the property on the basis of the best use and the highest of real property (which basically means determining the fair market value of the property). The one who performs this real estate assessment exercise is known as the real estate appraiser or property value surveyor. As determined by property assessment the value could be the fair market value. The real estate appraisal is done using different methods and the real estate appraisal values the house as different for difference functions e.g. The true estate assessment might assign 2 different values to exactly the same property (Improved value and bare value) and again the same/similar property might be assigned different values in a residential zone and an industrial zone. Nevertheless, the value as a result of real estate appraisal given mightn't be the value when assessing the house for investment a real estate investor would consider. In fact, a real estate investor might totally disregard the importance that happens of real estate assessment process.
On the basis of the developments going on in your community the property would be evaluated by a good real estate investor. So as performed by a real estate investor real estate appraisal would develop the price that the real estate investor will get out of the home by buying it at a price and selling it at a much higher price (as in the present). Equally, real estate investor may do his own real estate appraisal for the estimated value of the home in, say 2 years time or in 5 years time. Again, a estate investor might perform his real estate appraisal based on what value he/she can cause by investing some amount of money in the property i.e. a estate investor might decide on purchasing a dirty/scary kind of property (which no-one likes) and get some minor repairs, painting etc done in order to increase the value of the property (the value that the real estate investor would get by selling it in the market). Therefore, here the meaning of real estate appraisal adjustments completely (and can be quite distinctive from the price that real estate appraiser could come out with if the real estate appraiser conducted a estate appraisal exercise on the property).
A real estate investor will generally base his financial commitment on this real estate appraisal he does by himself (or gets performed through someone). Therefore, could we then term real estate appraisal as a really real real estate appraisal? florida investigation
