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Appraisal Value Of A Home

The appraisal value of a home is based on size, location, quality and recent sales of like homes. In order to buy a home, the lender will require that you have a certified appraiser (usually one supplied by the lender) write up an appraisal on the home. This is also the case if you are borrowing against the value of a home you currently own such as in a home equity loan.

Appraisal Value Home Criteria

The criteria used for a home appraisal includes many factors. The neighborhood can figure heavily as this can raise a homes value quite a bit and a home in a desirable neighborhood can be worth much more than the same exact home in a lesser neighborhood. The homes size and square footage is figured into the mix as well as the condition of the home. Sales of like homes in the neighborhood are used for comparison - typically 3 recent sales are used to gauge what your home may be worth.

Click Here To Learn More About Selling A House

If you are selling a house, your real estate agent may do a market analysis of the property which is a bit different from the appraisal value. Home values may actually be the same in each case as similar methods are used to determine a value but the appraisal is done by a certified appraiser and the market analysis is done by comparing very recent sales of like homes in the same neighborhood.

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