Los Angeles, California (PressExposure) April 17, 2011 -- These days, lending institutions are exercising far more due diligence when approving home loans. The premiere Los Angeles Appraisers, Appraisal Evaluations, Inc., has recently begun focusing more of its efforts on helping lenders and buyers ensure that the value of a home is truly worth the asking price.
Sellers may think a home is worth a specific amount, and a buyer may be willing to pay the asking price, but it's imperative that a real estate appraisal is obtained. A "fair market value" and an appraised value can be two very different things. The "fair market value" may be the amount a home buyers is willing to pay. The appraised value is the supported opinion of value of the home, as determined by a professional appraiser. The only number a lender is interested in is for a home loan is the value determined by a real estate appraisal.
A real estate appraisal by Appraisal Evaluations, Inc. is based on a number of criteria. One of the primary factors is the value of the surrounding homes. The professionals at Appraisal Evaluations, Inc. are knowledgeable about the areas they serve, allowing them to provide extremely accurate real estate appraisals.
According to the firms' Chief Valuation Officer, Jason Fischman, IFA, "Appraisers look at positive and negative aspects of the homes we appraise. We examine the functionality of the home, repairs that might have to be made and any special features it might contain, such as a fireplace or swimming pool. The square footage of the home, along with the location, view, etc. also affect the real estate appraisal for a home loan."
Potential home buyers should never make an offer or accept the asking price without ensuring the purchase is contingent upon a real estate appraisal. It will save time for everyone involved by providing an exact value to present to a lending institution. Approval of a home loan hinges on the real estate appraisal.
Appraisal Evaluations employs a wide variety of technologies when making their real estate appraisals. Electronic field gathering tools, state-of-the-art computer applications and databases, and digital imaging are just some of the tools used to obtain the most accurate real estate appraisal possible. According to Fischman, "We consider ourselves early adopters when it comes to technology. People are amazed when we show up in the field with a laser measuring device and an iPad to conduct our on-site inspections. We invest a considerable amount of time and capital to implement the latest tools, so we can provide our clients with the pinnacle in service and quality."
The firm works with all types of residential real estate, from single-family homes and condos, to FHA and stock cooperatives, along with vacant land, income units and PUDs. The firm has developed its own proprietary desktop application that combines the best features of traditional and automated real estate appraisals for the most accurate appraisals in the business. The firm maintains a blog at LosAngelesAppraiser.org that contains a wealth of information on all aspects of real estate appraisals for home loans.
Appraisal Evaluations provides superior real estate appraisals for home loans on a wide range of properties to fit individual needs. A Los Angeles Property Appraisal by Appraisal Evaluations can make the difference between acceptance and denial of a home loan by a lender.
Appraisal Evaluations, Inc. is located at 233 N. Maclay Ave., #310 in San Fernando, the firm can be reached by phone at 818-698-1501. For more information, visit their website at AppraisalEvaluations.com.