Appraisal

Timothy N. Kuchta is a Certified General Real Estate Appraiser. He is a qualified appraiser of residential, commercial, and agricultural real property. The expertise that he possesses in this area requires him to be knowledgeable about current production values, construction costs, and price trends- with a good sense of judgement. Experience is a very valuable qualification. 

You have several ways to determine the value of a home. 

An appraisal is a professional estimate of a property's market value, based on recent sales of comparable properties, location, square footage and construction quality. 

A comparative market analysis is an informal estimate of market value performed by a real estate agent based on similar sales and property attributes. 

Appraised value is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process.

Market value is what price the house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker.

A property is worth what a willing buyer will pay for it and a willing seller will sell it for. Everything else is an estimate of value. To determine a property's value, most people turn to either an appraisal or a comparative market analysis. 

Appraisers use several factors when estimating value including historical records, property performance, condition of the property and indices that forecast future value.