About Appraisals

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The appraisal process typically includes the following steps:

1. Initial Communication
   We discuss your property and the purpose of the appraisal. 
2. Scheduling the Appointment
   Once you order the appraisal, we schedule a convenient time for the property inspection. 
3. Exterior Inspection
   I arrive at the property and take photographs of the front, rear, street view, and any other relevant exterior features. 
4. Measuring the Property
   I measure the property and create a floor plan sketch. 
5. Interior Inspection
   I walk through the property, taking notes on its condition, upgrades, remodeling, and any limiting features. Interior photographs are also taken. 
6. Property Discussion
   I may ask questions about the property, its features, and possibly the neighborhood. 
7. Research & Report Preparation
   After the inspection, I select comparable sales, possibly photograph the comparable properties, and return to the office to complete the appraisal report. 
8. Report Delivery
   The completed appraisal report is then transmitted to you.

Typically, an appraisal includes the following information:

• Legal information about your property (address, owner, assessor’s parcel number, etc.) 
• Neighborhood information 
• Site improvements 
• Home improvements and description 
• A Sales Comparison Analysis section 
• A Cost Approach section and Income Approach section (if warranted) 
• Final reconciliation of value 
• Subject (your home) photographs, exterior and interior (usually) 
• Comparable sales photos 
• Floor plan sketch 
• Plat map (your property) 
• Location map (showing your property/home and comparable sales)
• Appraiser's certification and limiting conditions

While you might save a few hundred dollars on a lower appraisal fee, it can ultimately cost you far more in the long run. 

In the Bay Area, where property values routinely start at $1,000,000 and up, an accurate and defensible valuation is paramount. Saving a little upfront on fees isn't worth putting tens, or even hundreds of thousands of dollars at stake due to an inaccurate appraisal.

When the stakes are this high, cutting corners on the fee isn't worth the risk. What matters most is securing an accurate, reliable, and legally defensible appraisal. 

FNMA's definition of market value is the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale with, the buyer and seller, each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus.

In real estate, price is the actual amount of money a buyer agrees to pay and a seller agrees to accept to complete a property transaction.

Unlike market value, which is an objective estimate of a property's worth under ideal market conditions, price is a historical fact. It represents a specific, agreed-upon dollar amount for a particular sale, which can sometimes be higher or lower than the actual market value due to negotiation, buyer and seller motivations, or unique bidding circumstances.

In real estate and appraisal practice, cost is the total dollar amount required to create, produce, or construct a property. 

Direct Costs (Hard Costs): Tangible expenditures directly related to the physical construction, such as labor, building materials, and equipment.

Indirect Costs (Soft Costs): Intangible expenses necessary to complete the project, including architectural fees, engineering fees, building permits, legal fees, insurance, and financing costs.