Residential Appraisals – Residential Real Estate Appraiser
RDC Appraisals, LLC is an experienced residential real estate appraiser for all types of housing units, including condos, townhouses, low income housing, apartment buildings, and multifamily dwellings. The real estate appraisal process seeks to provide you with the most accurate assessment of the value of the property in question. In our appraisals we will evaluate the state of the real estate market in your area, and a comparison will be made between your property and at least three other similar properties. We’ll point out whether there are any serious issues with the property in question, such as any structural problems or if extensive repairs are required. An estimate will be provided regarding how long it might take to sell the property.
RDC Appraisals is committed to a reliable and consistent residential real estate appraisal experience for our clients. We are a firm specializing in residential real estate appraisals that offers fast, quality service for property and home values for the Pennsylvania, New York, and New Jersey market.
There are three principal methods to determine value of the subject property-cost, sales comparison, and income capitalization. Let us take a look at each of these in turn. Appraisals of newly constructed properties use the cost method. We determine the cost of building these new properties and what it would cost to rebuild if the property were destroyed and needed to be replaced. These costs, combined with the value of the land minus depreciation, lead to an appraisal value of the property. The sales comparison method is used for evaluating the resale value of residential properties. The subject property is compared to other properties that are in the same geographical area, are similar in type, construction, year built, and so forth, and a market value is then determined. The third method is used for properties such as apartment complexes that are to be acquired for investment purposes. In this case a determination is made on the amount of revenue that can be generated by the property.
The reasons for performing a residential appraisal are just as varied. They are usually required whenever the property is sold, mortgaged, assessed a tax or for an appeal of a tax assessment, insured, involved in a business merger or dissolution, part of estate or divorce litigation, or developed. Regardless of the unit that needs to be examined, or the purpose of the appraisal, RDC Appraisals, LLC will provide the most accurate, objective, and reliable assessment of the subject property. We will take the time to go over our detailed report and answer any questions that you might have. It is for these reasons that we are a leading residential real estate appraiser serving New York and New Jersey.