Are you shocked by your recent property tax assessment? You’re not alone. Many homeowners face unexpectedly high property tax valuations, but there’s a solution: a professional property tax appeal appraisal.

Why Your Tax Assessment Might Not Be Accurate

County assessors use mass appraisal techniques to value thousands of properties simultaneously. While efficient, this method doesn’t account for your home’s unique features, condition, or specific market position. That’s where professional appraisers make a difference.

The Professional Appraisal Advantage

Unlike mass assessments, a professional appraiser:

• Physically inspects your property
• Analyzes specific comparable sales in your neighborhood
• Documents unique features and improvements
• Considers property condition and any issues affecting value

What to Expect from a Tax Appeal Appraisal

A professional tax appeal appraisal typically costs around $550 and takes 5-9 business days to complete. The process includes:

1. On-site property inspection
2. Detailed market analysis
3. Comprehensive written report
4. Supporting documentation for your appeal

Important Considerations

Before ordering an appraisal, understand that the results may show your property value as:

• Lower than the assessment (supporting an appeal)
• Equal to the assessment
• Higher than the assessment

Making an Informed Decision

A professional appraisal provides concrete evidence for your tax appeal. While it requires an upfront investment, the potential long-term tax savings could make it worthwhile.

Next Steps

Contact us today! We can help you understand whether an appeal might be successful in your case.

Southernappraisal@triad.rr.com

336-996-5522

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As a seasoned residential real estate appraiser with 30 years of experience in the Triad market, I’ve helped countless homeowners navigate the selling process with confidence. Here’s how an appraisal can help you:

1. Understand the Local Market: Real estate trends shift, and home values in areas like Greensboro, Winston-Salem, and High Point are influenced by factors like recent sales, neighborhood developments, and market demand. An appraisal gives you a clear understanding of how these factors impact your home.
2. Set the Right Price: Overpricing can deter buyers, while underpricing leaves money on the table. An unbiased appraisal ensures you’re positioned to attract buyers and maximize your profit.
3. Plan Your Next Steps: Whether you’re considering renovations or simply want a realistic timeline for selling, knowing your home’s value helps you plan with confidence.
4. Build Buyer Confidence: Sharing a professional appraisal with potential buyers demonstrates transparency and adds credibility to your asking price.

Selling a home can feel overwhelming, but with a trusted appraisal, you’ll have the insights you need to move forward. If you’re planning to sell your home in the Triad next year, let’s talk about how a pre-sale appraisal can work for you.

The post Why Getting a Pre-Sale Home Appraisal is a Smart Move appeared first on InformedValue.com.

With over 30 years of experience in the Triad real estate market, I specialize in providing thorough, court-ready appraisals tailored to the unique needs of divorce cases. Here’s why this service is indispensable for separating couples:

1. Accurate Market Value: A certified appraisal ensures your home’s value reflects current market conditions, removing guesswork and reducing disputes.
2. Impartial Expertise: As an independent appraiser, I provide an unbiased opinion that both parties can trust, helping avoid unnecessary conflicts.
3. Court-Ready Reports: My reports comply with industry standards and are prepared to hold up in court or mediation, giving you peace of mind during a stressful time.
4. Local Knowledge: With decades of experience in the Triad market, I understand the nuances of neighborhoods in Greensboro, Winston-Salem, and High Point, ensuring a more accurate valuation than general estimates.

Divorce is already complicated, but settling your home’s value doesn’t have to be. An experienced appraiser can make the process smoother, fairer, and less stressful for everyone involved.

If you’re in the Triad area and need a trusted real estate appraiser for a divorce settlement, I’m here to help. Contact me today to schedule your consultation.

The post Why Hiring an Experienced Residential Real Estate Appraiser is Essential for Divorce Settlements in the Triad Market appeared first on InformedValue.com.

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Some factors that determine what a house is worth are out of your control, like its location and the popularity of that market. But you can keep up with repairs and make smart improvements (both are proven ways to increase home value).
When thinking about how to increase home value, root your expectations in reality. Updates rarely recoup 100% of their cost, but they can make your family more comfortable and even help your home sell faster.
Whether you want to build equity faster or get top dollar when you sell, use the tips below to raise the value of your home.

1. Make it more attractive
Curb appeal — how your home looks from the street — is your first chance to make a good impression, says James Murrett, president of the Appraisal Institute, a professional association for real estate appraisers. A home’s exterior needs to make a prospective buyer want to walk through the front door.
Make sure existing landscaping is well-maintained. If your yard seems dull in comparison with your neighbors, consider planting flowers or repainting the front door.
Once the exterior looks good, focus on the kitchen and bathroom. When these two rooms are outdated, they can keep a property from reaching its highest valuation, Lori Noble, a senior residential appraiser (SRA) in Charleston, West Virginia, said in an email.

And you don’t have to spring for heated towel racks or marble floors, either. A minor kitchen remodel recoups 81% of its cost in added value on average, versus 53% for an upscale kitchen remodel with stone countertops, custom cabinets and commercial-grade appliances, according to Remodeling magazine’s “2018 Cost vs. Value Report.”
The same is true for bathrooms; a midrange remodel — new flooring and a few updated fixtures — delivers a 70% return on investment, while an upscale bathroom remodel — heated flooring, custom cabinets and designer fixtures — sees 56% on average.

2. Make it low-maintenance
Since many home buyers worry about buying a home that will need constant maintenance, replacing a major component before putting it up for sale — like the furnace, water heater or even the roof — may calm fears of an emergency repair in the near future and help get you a higher price.
Improvements that make things easy to clean and maintain may also increase home value. Consider replacing easily stained carpet with hardwood floors or replace high-maintenance wood siding with vinyl siding.

3. Make it more efficient
Energy conservation features can have a significant impact on home value, depending on what area of the country you’re in, Joanne Theunissen, chair of the National Association of Home Builders Remodelers, said in an email. Energy-efficient mortgages (EEMs) allow borrowers to take on additional debt to cover both the purchase of the home as well as energy-efficient upgrades. EEMs can also offer lower mortgage rates to increase purchasing power, according to Energy.gov.
Consider double-paned windows, enhanced attic insulation, LED lighting and efficient appliances as a way to increase home value and entice energy-conscious buyers.
If you’re willing to go bigger, put solar panels on the roof. Thirty-nine percent of agents surveyed recently by the National Association of Realtors said solar panels increased perceived property value. But since solar panels are a big financial and structural commitment, they only make sense if you’re hoping to increase value over the long term, not looking for a quick boost in resale value.
Schedule an assessment with a certified energy auditor or your utility company to determine where your home is wasting energy and which upgrades will save you the most money.

4. Make it bigger
“Square footage has a huge impact on value,” Angie Martin, director of operations at Hales and Associates in Overland Park, Kansas, said in an email. Price per square foot is one way she helps clients compare homes that are similar in style and upgrades.
Bigger homes often command higher values, and even if an appraiser doesn’t officially acknowledge the full value of added space, a buyer will likely notice.
Adding a room is the obvious way to make your house bigger, but you can also create additional living space by finishing the basement or building a deck.

5. Make it smarter
Safety-enhancing gadgets top the list of “smart” technologies buyers want in their new homes, according to a 2018 survey by Coldwell Banker. These safe and smart devices include thermostats, fire detectors, carbon monoxide detectors, security cameras, door locks and lighting.
While smart tech doesn’t always increase home value, it does add appeal, Tavia Galvin, a licensed Realtor in Arvada, Colorado, said in an email.
Those who see themselves as “techies” are more likely to pay more for these items, Martin said.
Unlike replacing the roof or renovating the bathroom, you can usually install these devices yourself for about $1,000 or less.

How to pay for improvements that increase value
If you can’t pay for home improvements in cash, be sure to choose the right method of financing.

Credit card: Putting home renovations on a credit card may be OK as long as you’ll be able to pay off the entire balance in a short amount of time.
Personal loan: If you don’t have enough equity for a home equity loan or HELOC, consider a personal loan. The interest rate will be higher than home-equity-based financing, but lower than a credit card in most cases.

Home equity loan or line of credit: These second mortgages turn your home’s equity into easily accessible funds. Home equity loans pay out in a lump sum while home equity lines of credit, or HELOCs, are a line of financing you can borrow against over time. Both home equity loans and HELOCs have interest rates, fees, monthly payments and tax advantages to consider.

Cash-out refinance: If you’ve built up equity but don’t want a second mortgage, consider a cash-out refinance. You’ll take out a new home loan for more than your current mortgage balance and, after closing, the proceeds will be paid to you in cash. A cash-out refinance won’t make sense if your equity is limited or current mortgage rates are higher than your rate.

The post Increase Home Value appeared first on InformedValue.com.

The home is under contract but we’re waiting on the Appraisal! In some home market areas, the demand is outpacing supply. This was especially evident during the spring. All too often, multiple offers above list price coupled with emotional pressure for buyers making offers on several homes only to be outbid and lose the opportunity.

Many sellers receive multiple offers above listing price, causing added pressure to buyers who have been previously outbid.

Throw in a general lack of inventory which has driven the current housing market.

Order Up!

Once an order is received, a copy of the contract and all available MLS data are obtained. At which point, the appraisal can be started.

Occasionally, we’ll meet a homeowner who provides updates about the home. Mention local activity such as a home nearby that recently sold. Maybe a list of recent changes made to the home left on the counter… but not often. Realtors rarely provide updates about a home or recent market activity leading up to the contract.

Bear in mind, an appraisal is not a home inspection. The two are totally different. The inspector’s job is to make sure all the mechanical and subsystems are working and that there are no structural issues. The appraiser’s job is to observe the house in its current state, compare that with similar homes in the area and come up with a valuation.

Put another way, appraisers typically work on the assumption that everything is in good working order, whereas inspectors verify functionality.

Why not communicate with the appraiser up front?

Let the appraiser know of updates pertinent to this deal and transaction. Including real time information that’s relative to the homes appraisal.

Ryan Lundquist (an appraiser in Sacramento), created a form that allows Realtors to communicate directly with the appraiser. The form “Information For The Appraiser” informs the appraiser with up-to-date information prior to the home going under contract. Relaying relevant market information from when the home was originally listed. It’s always easier to act now rather than act later.

This isn’t a guarantee of success but is a way to participate in the appraisal process.

All of this is relevant to an Informed Value!

The post I Hope the Appraisal Works Out! appeared first on InformedValue.com.

A couple of days ago I used a Skeleton Key to open the front door of a house I was Appraising.  While it  was my first time using one, I have seen them and remember them from my Grandmothers house.  Looking at one today is like looking at a piece of art.  It is uniquely crafted and brings some nostalgia to mind…but is really just part of history and no longer used.

I started associating Appraisals with this key.  In the early 90’s the profession gained traction, became regulated and turned into an integral part of the Real Estate and Mortgage industry.  A couple of housing crisis, a few stock market crashes and the great recession later; the industry is so different.  The basics are the same but the tools and processes have changed.  More is expected.

Is your appraiser using a “skeleton key”?  We appraisers are like all people and very resistant to change and uncomfortable with the unknown.  From the inside it seems like every new procedure, or process or requirement is a blow to the profession; another nail in our coffin.  But is it?  We are moving from Skeleton Keys to instant access in the financial services world?  The risk, and amount of money involved and complexity is much greater than even just 25 years ago.  What is your appraiser doing to move with it?  What technology, education and new skill sets are they undertaking to become part of this new environment?  The title of the book says it all; So Good They Can’t Ignore You; Why Skills Trump Passion in the Quest for Work You Love by Cal Newport is about the new economy, the new way of doing things.  It is about standing out in a noisy world.  This takes effort, work and change.  “This is the way we’ve always done it” will not suffice!

Is your appraiser striving to keep up with the systems, technology and tools available? Is he working to become so good that he can’t be ignored?  You have a choice.  The Skeleton Key appraiser is out there, and they still work but is it the best choice?  Would you trust your house today to a Skeleton Key?

The post Things Change… appeared first on InformedValue.com.

And so it goes, an appraiser just told you that your home was worth less than you thought.  There is plenty written on how appraisers do their job and what we go through but I wanted to speak as an appraiser to homeowners everywhere.  What can you do?

Make smart decisions about your lender; are they local, do they have a presence in your area?  Who do they use for appraisals?  Some banks and lenders select appraisers only by two criteria; do they have a license and will they work the cheapest!  A quality lender in your area will use local appraisers who have been “vetted” and qualified.

Appraisal fess are important but more important are experience, area knowledge and quality of work.  Ask these questions; is she local, how is the fee that I am paying for the appraisal being split (in some cases, not all of the fee you pay goes to the appraiser),  how do you select your appraisers?

Just start here.  Many of the problems in my market  are created by the appraisers the lender uses.  You can’t control the appraiser chosen but you can make sure your bank is making good choices, choices that have your best interest in mind…make sure you get an InformedValue.

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