Albany, Saratoga, Rensselaer, Schenectady NY Homes for Sale

Free Certified Appraisal

If you're thinking about listing your home, I can provide you with a certified appraisal free of charge! There are countless advantages to an accurate estimate of market value when putting your home up for sale. Contact me to qualify for your Free Certified Appraisal today.

"But don't all real estate agents estimate a value? What is the difference between their CMA and a certified appraisal?"

A CMA (Comparative Market Analysis) is the term real estate agents use when they conduct an analysis of a home's worth in today's market. It involves a walk-through of the home, comparison of the home to other homes usually by means of the Multiple Listing Service, and an estimation of value presented in the form of a report.

A real estate appraisal is a formal and comprehensive evaluation performed by an independent professional licensed and/or certified appraiser. First, it includes a physical inspection of the home, like a CMA, but in addition also considers factors such as legal description, taxes, assessed value, actual square footage of the home, age of the dwelling, neighborhood in terms of its age, distances to schools and shopping centers, common types of dwellings, services and utilities available, obsolescence, previous sales histories, etc.

Second, there are three basic methods of arriving at an indication of value:

- The Cost Approach - estimates the cost to build a new building identical to the subject being appraised, at current prices, subtracting accumulated depreciation and adding the estimated land value.

- The Income Approach - relates to income-producing property and is based on the theory that value is the present worth of the income stream which the property is capable of producing when developed to its highest and best use. The net operating income from the property is capitalized into value by an appropriate method and rate.

- The Direct Comparison Approach - is based on the theory that an informed purchaser would pay no more for a property than the cost of acquiring another existing and equivalent property. The value estimate is based on the selling price and listings of comparable properties.

To arrive at a final estimate of value, the appraiser can select the value indicated by the approach most appropriate for the property and supported by the most reliable, factual and relevant market data, which has been analyzed and verified. The appraisal can/will also reconcile the three values to arrive at one final determination of value.

Because of the in-depth and thorough analysis required to perform an appraisal, the a result of the appraisal is an inclusive, informed and evidence-based determination of value. Also, while appraisers fulfill specialized training, education, and licensing requirements, as determined by USPAP (The Uniform Standards of Professional Appraiser Practice), formal appraisals can be used by mortgage lenders, investors, government agencies, businesses, and individuals when making important decisions.

The purpose of this appraisal is for information purposes only to inform you of the current market value of your property and not intended for any other use including and not limited to loan processing, legal matters, tax grievence, etc.


Orlando Valero