Appraisers ensure that the decisions made by buyers, sellers, government officials, insurers, investors, and others are based on well-informed, carefully reasoned judgment. Therefore appraisers help promote the stable and orderly development of the real estate market.
Appraisers of real property evaluate the utility and desirability of property and estimate its value for various purposes such as purchase and sale, financing, taxation, investment, and insurance. Appraisers consider the utility and value of properties.
An appraisal is nothing more than one person’s opinion based on research in the appropriate given market. That being said, it behooves the consumer to choose an appraiser who is knowledgeable and not merely a newly licensed practitioner. As for myself I was first a home builder for over twenty years, entered real estate brokering, than real estate appraising. This professional progression has been most useful and served me well.
The astute appraiser assembles pertinent and relevant data to which he applies the appropriate analytical techniques to accurately assess value. When these activities are combined with knowledge, experience, and sound professional judgment, the result is vital information and invaluable counsel.
Substantiated by relevant data and sound reasoning, the professional appraiser’s opinion carries considerable weight. The purpose of all appraisals is to estimate the defined value, which may be defined as the monetary worth of property, goods, or services.
Many people are involved in a flurry of real estate activities–buyers, sellers, tax assessors, investors, and insurers–and each has his or her own concerns about real property. That being said there are several different ways to consider the monetary worth of real estate.
When estimating value through the appraisal, the process entails assessing several components — market value, insurable value, investment value, or some other properly defined value of an identifiable interest or interests in a specific parcel of real estate.
Real estate presents both various opportunities and potential problems all of which must be accounted for and fully considered. Before hastily embarking upon anything within the real estate market, it is most advantageous to consider land utilization studies, supply and demand, economic feasibility, highest and best use analysis, marketability, and any proposals for existing development.
The many facets of real property and diverse interests all merge to make for a very delightful and sometimes complicated mix, which makes the appraiser and savvy real estate consultant a most valuable professional with whom to partner.
Paul Davis is Central Florida’s favorite and most reputable property appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A builder for over twenty years and also a real estate broker, Paul Davis brings a wealth of knowledge to the table as an appraiser.
Paul’s company Midstate Appraisals serves Central Florida (Lake, Orange, Seminole, Osceola, Sumter and Davenport in Polk counties).
Contact Paul Davis and Midstate Appraisals for your next appraisal: