Confussed proud home owner.?

Question

I as many home owners have a problem. We build a home in an area. We build an avarege footage size home, and added much more to it such as a paved road, pond, pool, outside lights, inground wiring, and other outside eminities.
Inside the same is done, such as stain glass on doors, oversized garage, phones in all rooms,as well as tv hook up.
Granet counters, custtom fixtures, deck, and many other emenities..

QUESTION IS?
WHY IS THIS HOME COMPAIRED BY APPRAISERS TO OTHERS OF SAME FOOTAGE SIZE, WHICH HAS LESS AND COST LESS TO HAVE IT AS THIS ONE DID, AND GIVEN THE OTHER HOMES VALUE, TO YOURS, when they are worst byuild and has less??.

IN OTHER WORDS CAN YOUR HOME REGARDLESS TO HOW MUCH YOU PUT INTO IT, HAS NO MORE VALUE THAN YOUR NEIGHBORS.

iF THAT IS THE CASE THAN WHY, IS IT THAT SOME same size HOMES ARE SOLD FOR A MILLIOM AND OTHERS FOR THOUSANDS, IN THE SAME NEGHBORHOOD, OR AREA to celebrties, clingtons, madona and alike, where is the system .??
a fair sysetm
CONFUSSED

Answer 1

Same thing happened to me. From your info it appears you live in a rural area. If that's the case, then the problem is there aren't enough homes within the same radius to do comparables to. I had the same thing happen, 10 acres, barn, pond, brick home, insulated windows, landscaped, many interior amenites, three years old when it was appraised and my home was compared to a 30 year old home, on one acre, more square footage with no amenities. Looked like it needed some TLC but, guess what! It appraised for more because it was closer to town by .6 miles. Something else that bothers me, your buyers lending institution goes the appraisal to lend them the money. I agree, WHERE'S THE JUSTICE!!!!!!!! SOMEONE WHO ALSO GOT THE SHORT END OF THE STICK!!!!!!

Answer 2

An appraisal is just an educated guess. Nothing more. They tell you that up front.

The true value of your home is what someone will pay for it. Period.

If the buyer doesn't share your tastes in decorating or other amenities, it will be reflected in how much they pay. For example, I had a realtor tell me years ago pools add NOTHING to the value of a house. Many buyers see them as liabilities rather than assets. I'd have to agree. I wouldn't look at a house with a pool because I'd have to spend a boatload more money to tear it out.

I see no value in granite at all. With regular laminate countertops, I can change the color when I get tired of it. Can't easily do that with granite.

Phones in all the rooms doesn't do anything for me either since really decent corless phones are both cheap and reliable now.

You have a right to add to your place any way you see fit to suit your lifestyle. But you can't expect others to get excited about the same things.

Answer 3

Appraisers compare your home to other homes of similar size. condition, amenity, condition and location that have sold within the last 6 months. They then make adjustments for the differences to bracket a value.

Assessors, for tax purposes, do not usually have access to the home's interior and base their valuations on lot size, square footage, etc.

For appraisal purposes, just because a home is in the same neighborhood does not make it the best comparable sale by which to judge the true market value.

Answer 4

There is a huge difference between appraisal value and market value. Appraisal is for taxes. Do you really want your taxes to go up?? When you sell, that's when a different appraiser comes in to look and give you a market value. Just be happy right now that it'll keep your taxes low!

Answer 5

No. I only seize a clean pair out of my knicker drawer each and every morning. If i'm going everywhere particular, exceedingly if i'm with somebody particular them i will positioned on a clean pair from my particular knicker container. I decline to incriminate myself further.

Answer 6

yes because it depends on the size of the house how it looks in the inside is it modern or is it just not the better home and also what you put in it like you might have laminite floors and you're neighbor has marble floors see where i am coming from!