An appraisal is a valuation of real property, such as a single-family home, individual condominium unit, 2-4 family property (i.e. duplex), or vacant land, by the opinion of a licensed appraiser. Once you have hired Fire Horse Appraisal, one of our appraisers will collect property-specific data from public records, data services and the local MLS database when available. The appraiser will then view the interior and exterior of the property, taking photographs and noting the condition, quality, utility, architectural style, amenities and site characteristics. The collected data is then used to develop a profile of the subject for use in selecting the most similar closed sales from within that market area. This data is then analyzed and a value conclusion is derived. The report form is completed, including photos, maps and other pertinent information, and released to the client. Our commitment doesn’t stop there; our appraisers are happy to answer any questions you may have about the report and their conclusions.

Most often our clients need an appraisal to determine the value of their real estate assets for the following reasons; estate settlement, or probate, following the death of one of the owners of the property; divorce settlement; when applying for a permit to renovate a property located in a flood zone; real estate marketing prior to listing the property for sale; when purchasing a home for cash or when using a private lender; tax purposes, such as capital gains tax, inheritance tax or to challenge an assessed value with the local tax authority. Note that when a buyer gets a loan to purchase a property or wants to have the mortgage insurance removed from your existing mortgage, typically the lender is required to hire the appraiser. Please check with your lender, prior to hiring an appraiser on your own, if you have questions.

Most often the Sales Comparison Approach is used, although the Cost Approach and Income Approach may also be used in certain circumstances. In the Sales Comparison Approach, a search is conducted for recent sales of properties that have similar features as your home (condition, age, living area, pool, water frontage, community amenities, etc.). Then an analysis is done to determine market reaction to the differences between these sales and your home. The overall market is also analyzed to determine if values have been increasing or decreasing since those sales occurred. Finally, the sales are adjusted and reconciled to determine which has the greatest similarity to your home and represents the most accurate value. At Fire Horse Appraisal we pride ourselves in producing reader-friendly reports in a straightforward way. Our reports are streamlined, without a great deal of industry jargon, to allow the reader to easily understand the thought processes and analyses behind our opinions. We welcome questions, because we understand that our clients probably don't read an appraisal every day.

Yes, but the report will be made subject to the completion of the project. A repeat visit to the property may require a final inspection to verify the project is complete. If you have questions about whether to begin a project in your home before an appraisal, please feel free to contact us before you start, and we will advise you based on your situation.

While Zillow and other similar platforms provide "Zestimates" for the value of your home, they are rarely accurate. Their software collects public records and other data from various sources about homes in your neighborhood and loads it into an algorithm that produces a value based on vague parameters. This algorithm doesn't consider all of the specific details of your home that contribute to, or detract from, the value (i.e. updates/renovations or physical features). For example, if you have completely updated your home but most of the homes in your neighborhood have had very little updating, the results produced by the algorithm will likely be too low. Or, if your home does not have a pool, but most of the homes in your neighborhood do have pools, the results will likely be too high. That's why it is always best to hire a Certified Appraiser to be sure you are getting the most accurate value of your home.

In Florida, one option is for a person to become a Trainee Appraiser and work under a Certified Appraiser. That person must be at least 18 years of age, have a high school diploma or equivalent, and have a valid social security number. They must complete 75 classroom hours of approved pre-licensing education, pass the class test (there is no state test to become a Trainee), pass a background check, and submit an application and fees to the state. Once approved, that person may remain a Trainee Appraiser indefinitely but must always work under a Certified Appraiser in good standing with the state. Suppose that person wants to become a Certified Residential Appraiser. In that case, they must complete an apprenticeship under a Certified Appraiser by doing at least 150 appraisals and documenting at least 1,500 hours of experience over a 12-month period. Additionally, they must take an additional 125 hours of approved pre-licensing education and have an Associate's Degree in a real estate-related field or a Bachelor's degree in any field. After meeting all of these requirements, they submit fees and an application to the state (including all logs and documentation of meeting the requirements). Finally, after being approved by the state, they must pass a National and State exam. Yes, it's quite a long and involved process, but that is how important it is to be trained correctly to appraise real estate. At Fire Horse Appraisal, our appraisers meet all state requirements and regularly complete continuing education to remain up to date on all aspects of the residential appraisal field.

No, this would require the expertise of a Personal Property Appraiser. If you are in need of such services, feel free to contact us for a list of trusted Personal Property Appraisers in this area.