StancilComfort385
Real estate appraisal is that the true one?
Real estate assessment or property valuation is the process of determining the value of the property on the basis of the greatest and the greatest use of real property (which generally translates into determining the fair market value of the property). The person who performs this real estate assessment exercise is known as the real estate appraiser or property valuation surveyor. The value as dependant on real estate assessment 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 purposes e.g. The actual estate appraisal might assign 2 different values to the same property vacant value) and (Improved value and again the same/similar property might be assigned different values in a commercial zone and a residential zone. But, the value assigned consequently of real estate assessment mightn't be the value a real estate investor would consider when evaluating the house for investment. Actually, a real estate investor might totally ignore the importance that arrives of real estate appraisal process.
A good real-estate investor could consider the home on the basis of the improvements going on in your community. Therefore real estate appraisal as done by a real estate investor could produce the price that the real estate investor could possibly get out of the property by getting it at a price and selling it at a higher price (as in the present). Similarly, real estate investor could do his own real estate appraisal for the estimated value of the property 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 committing some amount of cash in the property i.e. a estate investor might decide on buying a dirty/scary type of property (which no one likes) and get some small repairs, painting etc done in order to boost 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 changes completely (and can be very distinctive from the value that real estate appraiser could turn out with if a real estate appraisal exercise was conducted by the real estate appraiser on the house).
A real estate investor will usually base his investment decision on this real estate assessment he does by himself (or gets accomplished through someone). Therefore, could we then term real estate appraisal as really a real real estate appraisal? http://baseswiki.org/index.php?title=Li
