Reasons to order an appraisal from Stephanie L. Duffy Appraisal Services

Every year, thousands of people in California purchase, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. And even though there are a growing number of automated home valuation systems that may seem more practical than an appraisal, most lenders still call for a local expert because the stakes are so high. But is getting a mortgage the only reason to acquire an appraisal? Are there other cases when the services of a licensed, independent real estate professional might be beneficial? Of course.

Contact Stephanie L. Duffy Appraisal Services if you're planning on any transaction where the value of your real estate is a factor. Just click here

Let Stephanie L. Duffy Appraisal Services help you challenge your tax assessment in Riverside County

It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from Stephanie L. Duffy Appraisal Services is your best evidence. We're capable of assisting you in challenging your tax assessment.

Eliminating PMI will lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance plan that almost all lenders ask homebuyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. This added payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to do away with the PMI installments when the balance is paid down to 78% of the original value.

If you'd like to eliminate PMI, Stephanie L. Duffy Appraisal Services can produce a statement regarding the value of your home. The price you paid for the home valuation can often be recovered in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is often complicated by the hard decision of who keeps the home, and it can be a particularly heartbreaking occurrence for both parties. It's a good idea to get an appraisal from Stephanie L. Duffy Appraisal Services so both parties are entirely aware of the true market value of their property, regardless of the circumstances.

If the parties want to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.

Settling an estate with peace of mind

The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Market Value for the residential property involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these matters. And since a home or other property often makes up an uneven share of the total estate value, knowing the correct value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.

Relocating to or from Riverside County?

Employee relocation can be a real pain, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, as well as information about any new sales or listings in their area that they want considered during our thorough process.

Don't sell out for too little or keep your home on the market too long.

A professional appraisal will help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.

We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted way to determine what improvements will add value and what an applicable sales price is for your home - so you don't come up short or have your house on the market an unnecessarily long time - because we're experts in knowing how long houses stay on the market.