Why you should order an appraisal

To a lot of us, an appraisal is simply another cost on the break-sheet for a home sale or refinance. Almost all lenders still call for a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation systems that may appear cheaper than an appraisal. But is securing a mortgage the only basis for getting an appraisal? Are there additional times when the services of a licensed, independent real estate professional might be beneficial? You bet.

If you're planning on any transaction where the value of your property is a factor, contact WalshStreet Appraisals. Just click here.

Appeal your tax assessment in Los Angeles County

It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your house, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from WalshStreet Appraisals is your best evidence when building your case. We're capable of assisting you in disputing your tax assessment.

How can you eliminate PMI to lower your mortgage payment?

Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. Most often, this extra payment is folded into the monthly mortgage payment and is promptly forgotten. This is bad because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, WalshStreet Appraisals will give you a statement regarding the value of your home. The expense of the home valuation can usually be offset in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is an especially daunting ordeal for the parties involved, and it is often further complicated by the burdensome decision of who maintains the house. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from WalshStreet Appraisals, regardless of the situation.

If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

Settling an estate with peace of mind

The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.

Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.

Let WalshStreet Appraisals help you with relocating to or from Los Angeles County

Employee relocation can be a real pain, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive process, we encourage relocating employees to provide input on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.

Selling your home quickly at the right price

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your asking price. Separate from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't contingent upon the value we come up with, but rather they are based on our efforts to complete the appraisal.

On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long houses stay on the market. So, obtaining a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market too long, costing you hassle and money.