It’s that time of the year again to take on the town and grieve those ever increasing taxes! There is no better time in recent history to grieve your taxes and we are here to help. Currently, Chrstopher Greco Appraisal Services is providing New York appraisals to over 100 homewoners throughout Westchester County. There is too much housing data being published by local, state and federal agencies that substantiates the reality of declining New York real estate values! Almost every communitye throughout Westchester County has been impacted by the housing crisis. No matter which county your property is located in from Westchester County to Dutchess County there are declining markets! Bronx, Brooklyn, Queens, Staten Island, Rockland County, Putnam County, Orange County, Nassau County, Suffolk County and YES EVEN New York Manhattan is experiencing areas of declining market value. If you believe that your property value is less than your total tax value and assessment then you have a case to fight and grieve your New York property taxes!

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This agreements ends the practice of using lenders own appraisers and also ends the practice of lenders owning appraisal companies. It will be interesting to watch them as they divest themselves of these functions. Interestingly, Countrywide Financial Corp. is one of the lenders who owned that type of company. We all know their current financial situation. It goes without saying that this change will cause massive ripples through out the industry. Independent appraisal firms are poised to reap huge financial benefits as they step up to replace the lenders in house service. Expect to see new firms springing up to handle this huge volume of work. How these changes will affect new home buyers remains to be seen. It might be reflected in higher costs to the borrower.

Valuation Experts, Inc has local appraisers dedicated to providing appraisals and other real estate services through analytic discipline and a team approach. The company’s philosophy is to provide a objective home appraisal to clients in making informed lending, buying, and selling decisions.

All of property appraisers are certified by the State of North Carolina and are FHA approved appraisers.

Ask real estate agents and mortgage companies for recomendations. The more experienced and higher quality credentials an appraiser has will usually dictate a higher price for the appraisal. The regional market conditions will also affect the final price. Remember, the appraiser works for the party paying the appraisal fee. Small allowable differences up to about five percent of the average valuation are considered normal. This price variation could be found in your favor. This could be thousands of dollars difference in the properties valuation. A real estate appraisal fee is a necessary for quality work; do not pinch pennies.

Professional real estate appraisals are calculated, in most cases, by comparisons of property sales. The appraiser uses this market data and adds and subtracts the differences between the typical property and the subject, thus he determines the worth. Accordingly, appraisers determine what their time is worth too. Two identically accredited appraisers may have a hundred or more dollars difference in their price. Look at other factors for the fee differences. Then, if you are really smart ask around and find out if the appraiser consistenly appraises high or low within the accepted range of prices. He who pays for the appraisal can select for price and the appraisers opinion of the future for the property in question. Some appraisers are more optimistic than others.

Real estate appraisals may be based in part on the total square footage of the dwelling. One property may measure 1,000 square feet and another may measure 4,000 feet. Additionally, appraisal of a small home with dozens of similar properties in the same neighborhood will cost less than than a two story custom built home backed up to the ninth hole on a golf course. Just think how much time it would take just to measure the houses square footage and draw out the floorplan. Appraisers use three approaches to value. Valuations are made on the Cost approach, Sales Comparison (market value) and Income Capitalization Approach. An appraiser will evaluate all three methods and may find only one is most accurate. The method of valuation could influence the price. Consult with your choice of appraiser to determine the scope and method used to determine the properties value.

Real estate appraisers compete just like other professionals do and costs will vary based on regional markets. Appraisers charge according to the cost of living in their area. Typically, Los Angeles. California is more expensive to live in than a community in Dyersburg, Tennessee “A special note regarding Louisiana: Louisiana is the only U.S. state whose legal system is based in part on civil law, which is based on French and Spanish codes and ultimately Roman law, as opposed to English common law, which is based on precedent and custom. Louisiana thus follows the system of most non-Anglophone countries in the world. In Louisiana, private law is based on the Louisiana Civil Code.”

Appraisals in the Dallas -Fort Worth, Texas area range about $400.00. Conventional appraisals cost more than an FHA or VA appraisal. You can expect differing estimates of value from each type and the amount of time required to receive the different appraisals will also differ. In order to get fast service usually, an independent appraiser will be able to the fastest turnaround. Purchasing a VA appraisal may save money but your lender may not accept it. They may need a conventional appraisal or they may have staff appraisers they confer with. As you can see there are many elements involved in selecting an appraiser. The professional appraisal fees are a small part of the total cost of acquisition of a home. The most important factor you, as the seller, are interested in is the track record of the appraiser. Seeking advice from realtors and experienced investors may indicate a preference in the abilities of one appraiser over another. This could be very valuble in the selection process.