South Houston Texas Real Estate Appraisals

An appraiser gets their information from a wide variety of sites, including the local MLS, local real estate tax authority records, local real estate agents, county courthouse papers, private public record data vendors, conversations with sellers and buyers, and their own personal knowledge or office files from previously completed appraisals. Using a systematic application of the appraisal process, house appraisers collect, study, and interpret information that supports the Subject property. If applicable, a home appraiser can use data supplied by his/her customer or a 3rd party.

Comps are usually those which a homebuyer would consider instead of the Subject, meaning they should be similar in marketability. The market value is significantly based on the sales comparison approach for most residential properties, deeming comparables determination a vital aspect of the process. Many hours are spent by a property appraiser searching for and reviewing all possible comparables to calculate those which are the most reliable indicators of a comparable.

Depending on the situation, it certainly could. If a home adjacent to yours is in bad shape, it may affect the appeal of your home in the view of potential buyers. This would be noted as an external obsolescence and would have a detrimental affect on your home’s value. But the truth is, it will prove very difficult for an appraiser to assess a dollar amount on this characteristic, so they might just document it on the appraisal report but not actually subtract an amount.