Get Yourself Ready for Knowing the Value of your Home

What is property valuation?

The purpose of property valuation is to provide a current market based value for a property in comparison to others in its immediate vicinity. So an appraisal is a time, location and geographic specific. The real estate appraisals are separated into two broad categories:

• Residential

• Commercial

For the purpose of these papers, you need to consult with real estate appraiser. Residential real estate appraisers are licensed by their respective states and have different levels of license levels based on the value of the loan for the property. The Johnson appraisal group provides professional appraisal services for the customers. They also have to take classes and pass certification tests to gain and maintain their license status.

How to Determine the Value?

Value is determined the recent sales of similar homes within a given geographic radius. This means, not pending sales; peoples can ask what they want, but banks want to know what other similar homes sold for. The Johnson group is one of the best professional appraisal reviewers sand they will help you, how to determine the value of your home. The Johnson appraisal group allows only a live site inspection and assess your values properly without any complication.

Why do I need a new Appraisal?

The market is so volatile that you may require a new appraisal in every 6 to 8 weeks for some lenders. In the last few months, housing values have dropped up to 50% in some areas. This has made lenders very uneasy and they require more documentation and proof of your values than before. Refinancing has become more challenging as appraised values have gone down so rapidly that people who can manage the monthly payments are penalized because the value puts them into underwater. For sellers it is even more challenging to sell their home with a market price.

The Johnson appraisal group provides appraise for your commercial and residential real estates with all the required documents. And also they provide the script and oral appraisal for the clients with proper guidance. Get ready to know about the real value of your residential or commercial real estate, with Johnson Appraisal Groups Today!!!