Kimberly W

Kimberly has been a Certified Residential Appraiser in NY State since 2004. With a background in the mortgage industry and real estate sales, she brings a valuable perspective to buyers, sellers, and other industry professionals. Aside from her professional role, she's an entrepreneur, novice home flipper, and proud Mom of three. FHA/USDA Certified | Member GSAR/NYSAR | Supervisory Appraiser

appraisal terminology wording and image of house

An Overview of Appraisal Terminology

Understanding appraisal terminology helps navigate real estate transactions. An appraisal reflects a property’s market value through an appraiser’s unbiased evaluation, considering characteristics and market conditions. It involves three approaches: Sales Comparison, Cost, and Income. Important terms include Market Value, Comparable Properties, Adjustments, and Depreciation. Knowledge of terms ensures clarity in appraisals for buyers, sellers, and investors, aiding in negotiations, mortgage approval, and investment assessment.

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