Did you ever wonder what your home was worth or what homes have sold for in your neighborhood?
It used to be that only large institutions had access to critical public record information
that could be used to determine real estate values. They say knowledge is power, now
Electronic Appraiser puts information in your hands and provides a powerful automated
valuation analysis. This is the same information used by banks, appraisers and realtors to
make lending, valuation and other important decisions.
Our reports range from $4.95 to $29.95 with discounts for volume users. They are a great value
when you consider that a typical residential appraisal can cost between $250.00-$500.00.
Its easy just start by inputting an address on our home page.
Electronic Appraiser is the only service which gives you an instant online
report in a well organized and easy to read format complete with color graphs and charts.
Electronic Appraiser only provides reports on residential properties. Reports are not
available for commercial, industrial, vacant land or agricultural properties.
An appraisal is an estimate of a property's fair market value prepared by a licensed professional who
takes into consideration many items, including: recent sales of comparable properties, location, home size
and physical condition. An appraisal may cost anywhere from $250-$500.00 or higher and usually takes from
1-3 weeks to prepare. The Appraisal Standards Board (ASB) of the Appraisal Foundation develops, publishes,
interprets and amends the Uniform Standards of Professional Practice (USPAP) which sets forth the standards
for appraisers and the users of appraisal services.
A comparative market analysis is an unscientific and informal estimate of the market
value of a property prepared by a real estate broker/agent based on their knowledge of a particular market area and
recent sales of similar properties in that market. Realtors often use this method when advising clients what the
listing price of homes for sale should be.
An automated valuation is what you get when you buy a report from us. We prepare our automated
home valuations through a continuously updated nationwide data store to of billions of records, we gather specific data on
the subject property and then estimate the value of that property in real time. Our valuations are based on comparable
sales data, a price and time comparison and a complex valuation engine. Our reports are the most accurate in business, second
only to a physical inspection and opinion by a qualified professional. An automated valuation is not an appraisal and no
human interaction or inspection is involved in such an analysis; however banks and lenders routinely use such analysis to
check the accuracy of appraisals in what is known as the appraisal review process. Further, appraisers and realtors use
the same type of information when conducting valuations and market analysis.
The automated valuation analysis is not an appraisal and no site inspection is completed
as part of the process. Excess depreciation or wear and tear as well as property upgrades which are not contained in
public record information will not necessarily be reflected in the automated model and the analysis is limited in
discerning these types of conditions.
A licensed appraiser certifies to the estimate of value in an appraisal based on a physical
inspection during an onsite visit. The automated valuation model is designed to duplicate and take into consideration the
same functions as an appraisal but is limited in the things it can discern as noted above. A comparative market analysis
is a guesstimate of value based on the particular level of expertise possessed by the realtor preparing the analysis and
this may lack critical information not available to the realtor at the time. A comparative market analysis lacks the
complex valuations analysis that you get when completing a valuation through Electronic Appraiser.
Electronic Appraiser reports contain important information used in the automated valuation
process, these include: A reliable value for each home, detail on the subject property, comparable properties, sales price
per square foot, assessed value/sales price ratio, comparable detail, demographic information, comparison tables, School
and Hospital Information plus so much more! These items are further explained below:
Detail of the Subject Property This is a detailed report on the analyzed
property with recent history as to sales price, current owner, tax assessed value and a description of the size of
both the structure and property. This information is used as the basis to find Comparable properties.
Comparable properties These are properties which exhibit similar
characteristics to that of the property being analyzed. The living area size and distance from the property being
analyzed are key components in estimating the value. Properties of similar size and characteristics in the same
area tend to have similar values. Comparable sales relate to sales prices of Comparable properties.
Sales Price Per Square Foot This is a mathematical calculation obtained by
dividing the sales price of a comparable property by its size in square feet. Thus a $200,000 home that was 2000 sq. ft.
would have a sales price per square foot of $100.00. An average of the sales price per square foot of Comparable
properties can then be used to estimate value.
Assessed Value/Sales Price Ratio This is a mathematical calculation where the tax
assessed value (the value the local taxing authority has placed on the property) is divided by the most recent sales price. Most
tax assessments are lower than actual sale value but the ratio is used as a valuation tool.
Demographic Information This is information on the location and characteristics of
the community the property is located. A census tract is a geographic designation established by the U.S Census which is assigned
a designated number to keep track of population trends and census information.
Price Trends This compares the price trend of the zip code in which
the subject property is located as well as the price trend in the county that the property is located. The property which is
being analyzed is referred to as the subject and is abbreviated on the bar graph as Sub. The subject property will always
be delineated in another color as depicted in the graphs and charts noted on the report.
Information used in the reports are from the public records maintained by local, state and federal government records including county clerks, taxing authorities, etc. The accuracy of this data is based on the manner in which it is collected and the requirements to report certain information. There are varying degrees of what type of information is reported depending on location.
Banks, investors, lenders, home owners and appraisers use our reports for a variety of functions including portfolio analysis, appraisal review, compliance, analysis, reports and other services.
You must be in a coverage area to receive a report.
Further you must make sure you have the correct address information and you are not requesting a report on a
commercial, industrial, vacant land or agricultural property. In some cases there may be problems obtaining
values on unique properties such as mixed use or in other unusual circumstances. In some instances there may
be an insufficient number of comparables to prepare a report. In the event that this occurs you should
will not be charged.
Purchasing reports online through reputable companies is as safe or safer than giving your
credit card information to retailers or in regard to catalog sales via the telephone. Electronic Appraiser has sold
thousands of such reports and we have a sophisticated credit card authentication and verification system to prevent
fraud. You should feel as safe or safer as if you were using your credit card in a retail store or restaurant.
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