Colonial Evaluation Corp: Property Evaluation

One service that I believe is extremely important in the real estate process is the appraisal. Helping my clients to objectively evaluate their properties for marketability, is key.

Some brokers and sales agents do a once–over to get the information to put into the various information fields in MLS® listings. However, I go much more into the detail of the features, characteristics and condition of a property, external factors, functional factors, and the analysis of the micro market area, including absorption rates, supply & demand, and regression analysis.

Appraisers complete a much more thorough inspection of your prosective property with a whole lot of details in mind. They also are comparing a property to its competition in the market area and in a specific price range & keeping functional utility in mind. How properties compare is critical to how soon they will sell and at what price. I'm going to work with you in several areas of concern:

  • Interior Features & Characteristics – While the number of bedrooms and baths are not something you’ll be changing to compete better with other homes, you do need to objectively compare them in order to end up with a value, to make an offer.
  • Consider for improvements, features/characteristics:
    • Floor plan
    • Functional obsolescence
    • Condition of floors, walls, paint, etc.
    • Kitchen features
    • Room sizes
    • Lighting, skylights, windows
  • Exterior –  "Curb appeal” really means a lot. Does the property define the neighborhood? I will help you to look at facets such as landscaping, exterior paint and overall condition. Here is an area in which small expenditures can yield big results.
  • Condition – Minor repairs can also make a major difference. Many buyers assume that a need for minor repairs indicates a general lack of fundamental maintenance over time.