What Omaha Appraisers Look at and What They Don't
There are several factors that an appraiser considers in establishing the value of a home and also factors that one would think they would take into account that they don't.
Factors that affect the appraised value:1. Recent Comparable Sales. Homes in the neighborhood that recently sold that are similar in size, condition and amenities are the largest factor in determining the outcome of an appraisal.
2. Market Conditions. Is the market is appreciating, depreciating or stable? Right now theOmaha market is considered stable, so no adjustment would be made due to market conditions.
3. Highest and Best Use. What is the property's best purpose? If a home in mid-townOmaha sits on an acre lot that is also zoned for commercial use, then a developer would likely pay substantially more for it in order to develop if for commercial usage than a family would pay just to live there.
Factors that don't' affect the appraised value, but you would think they would:1. Competing Offers. If the seller received multiple offers at once and the buyers subsequently bid the price of the home up, then one might think this would affect an appraiser's view of the property's value. Unfortunately it does not.
2. Presentation or Curb Appeal. A home that has today's hottest colors, superb decorations and be professionally staged will undoubtedly sell faster, none of this will affect the appraisal.