El Lago Texas Real Estate Appraisals

Market value or fair market value is the most probable price that a home should bring in a competitive and unrestricted market under all conditions necessary for a fair sale, the buyer and owner, each acting prudently, knowledgeably and presuming the sales price is not impacted by undue factors.

The appraiser estimates an valuation for a specific property, while an inspector enlightens the homeowner as to the condition of certain components of the house. A house appraiser briefly reviews the property to get an sense of the general condition and layout. Since a real estate appraiser is not a engineer, there may be hidden or invisible physical deficiencies or detrimental conditions of the house at the time of the inspection that they may be unaware of. A property appraiser will ask about any overt problems and those which may not be visible, and will do his/her best to determine any affect on value attributable to those issues. It is recommended to request the counsel of experts if you have any questions about the structural or mechanical systems of the home.

Appraisers will not use Zillow, Trulia, Realtor.com, etc. Instead, property appraisers primarily rely on the local Multiple Listing Service to search for reliable sales and listing information. If a sale transpired off the Multiple Listing Service, but is substantiated through reliable means, property appraisers can use that as well. Most appraisers are not crazy about the online valuation website due to all their misleading and frequently outdated facts. We understand why people use them and if we were forced to choose one we like Realtor.com as it has the most accurate information.