Outer Banks appraisers are busy these days, as the market is hot! Appraising is a process of reaching an estimate of value. This process has stages. They include: definition, plan, data collection, application of the three approaches to value, and final estimate of defined value. This process assists the appraiser in reaching an opinion, and an accurate value. The major phase includes the application of the three approaches to value, and then picking one or more. These approaches include the Market Data, Cost, and Income approaches. The three approaches are reconciled, and the most applicable approach is used. Sometimes more than one.
In most residential appraisals, particularly single family homes, the direct sales comparison best reflects the opinions of buyers and sellers alike. With this in mind, many Outer Banks Realtors use the market approach today. Often done, an appraiser will use three properties closest to the subject property. This approach tends to be the most convincing and defendable approach to value. If you need and appraisal, there are a few Outer Banks appraisers are below. All have been in business for some time.
Roanoke Island Appraisal
118 Daphne Lane
Manteo, NC 27954
Outer Banks Appraisers