Unless you are trained and experienced in real estate appraisal and study real estate values on a daily basis like a professional appraiser does, it will be difficult for you to have a handle on real estate values. Your property’s current market value may have little to do with how much you paid for it, invested in it, or how much you want to sell it for. You need to know the true market value for the property.

Some people are surprised to find out that the market value of their property is more than they thought. So, investing in a professional appraisal actually allowed these people to achieve a higher sales price than they thought possible.

Others have an inflated opinion of their property’s value. An appraisal helps them realistically price their home to sell. An overpriced home will not attract buyers. Properties priced too high run the risk of being labeled as overpriced, which can have a lasting adverse effect on the marketability of the property. If the price is too high to begin with, you may scare off some potential buyers early on. The perception may be generated that your listing is a bit stale, which can result in fewer showings. Therefore, it is very important to obtain complete sales data and competent analysis so that you can price your property to sell!

Pack Appraisal Company offers a product to meet the needs and desires of our clients when pricing a property to sell.

Pre-Listing Appraisals

Utilization of our standard appraisal product will provide you with a thorough analysis of your property and its position in the current market environment. A computer generated floor plan sketch with square footage calculations will be included to maximize the value of your property while satisfying your legal obligations in representing the size of your home. (See the section which follows on Square Footage Appraisals.) A market analysis will be completed including the sales comparison approach, and when appropriate, the cost and income capitalization approaches. A value, or range of values will be provided so that you have the information to properly price your property.

Square Footage Appraisal

The main purpose of this appraisal product is to provide you with a computer generated floor plan with square footage calculations. Additionally, a limited restricted appraisal report is included that provides a range of value for the subject property. Accurate reporting of square footage is an important element of selling your home.

The Colorado Real Estate Commission requires that the owner of a property must sign a disclosure about the dwellings size and source of the square footage. A broker listing your home for sale must disclose the square footage and source for that square footage to prospective buyers of the property. While square footage may be obtained from other sources like the county assessor, the architect, or a prior appraisal, there are risks associated with this approach. The owner and broker may not provide information on square footage from a source known to be unreliable. Owners and brokers are responsible for indications pointing to obvious mismeasurement by others. This can be a difficult position to defend when one does not have a floor plan sketch and square footage calculations to reference.

A propertys square footage can have a significant effect on its value. Many times these sources understate the square footage of your property. As property values are directly related to the improvement size of the dwelling, understating the size of your home can have a dramatic impact on the resultant sales price.

What methodology is utilized in the square footage calculations? Our reports utilize the nationally accepted ANSI (American National Standards Institute) standard of square footage measurement which measures the area based on the exterior wall dimensions, including all stairways and landings. Square footage calculations are also provided for accessory areas such as garages, decks, porches, patios, and storage areas. These areas can provide significant contributions to the value of a property, and accurately quantifying their size is an integral part of capturing their contribution at the time of sale. We have found that a Square Footage Appraisal oftentimes provides information which more than pays for its cost.