Lou Carlozo’s Eight Ways to Improve Your Home Appraisal
April, 12, 2012
In a recent Reuters article, Lou Carlozo covers several ways to improve your home appraisal. A key part of the process whether buying or selling a home, appraising your current property can surprise you in a good or bad way. We pulled out our top-8 favorite tips from Lou’s article and added our own wrinkles.
For the full article go to: http://www.reuters.com/assets/print?aid=USBRE90L0ZE20130122
EIGHT WAYS TO IMPROVE YOUR HOME APPRAISAL:
- Make sure your appraiser knows your neighborhood:
You can request that your lender send a local appraiser; if that still doesn’t happen, supply as much info as you can about the quality of your neighborhood. Take a second to Google appraisers in your area if you aren’t sure who any are.
- Provide your own comparables
Provide your appraiser with at least three solid and well-priced comparable properties. A simple online search, or using a database like Zillow or Trulia can be a huge help.
- Know what adds the most value
If renovating, start with kitchen and bath. Wood floors, landscaping and a garage can also drive up appraisals.
- Document your fix-ups
If you’ve put money into the house, prove it with before and after photos and spreadsheet showing what was spent on each renovation.
- Talk up your town
Make sure the appraiser knows about any exciting developments such as upscale restaurants or other amenities.
- Distinguish between upstairs and downstairs
Additions made below grade do not add to the overall square footage. An attic renovation will count for more than a basement renovation.
- Clean up
A good-looking yard and a clutter free house will all help the appraisal. Closet storage solutions can easily organize any items that cause clutter and can multiply usable storage space in your home.
- Give the appraiser some space
Don’t follow the appraiser around like a puppy.