You have reached your final destination in the appraisal industry. Here at Blue Chip Appraisers we will do whatever it takes to get the job done. It is our goal to serve all of your appraisal needs. We at Blue Chip Appraisers realize that time is very important. That is why we strive to set the standard in turn times.
Typically after physical inspection most conventional appraisals can be returned in 48 hrs or less. All reports will be delivered via email. We are there when you need us. It is our goal to assist you in making educated decisions when they matter most.
We can help with market values, pre-listings, PMI removal, tax appeals, divorce, estate planning and settlement, bankruptcy and foreclosures, retro appraisals, GLA measuring and more.
Frequently Asked Questions
What is an Appraisal?
Unbiased, professional opinion of a property's value based on its style and appearance, construction quality, usefulness and the value of comparable properties.
Are interior photos required on a full inspection?
YES. Interior photos are required and we at Blue Chip Appraisers make it a point to take as many photos as necessary to ensure accuracy. We also take photos of deferred maintenance and areas that are damaged for proper documentation purposes.
Can an Appraiser readdress a completed Appraisal from one mortgage company to another after it has been delivered?
NO (See USPAP Advisory Opinion 26). Once a report has been prepared for a named client(s) and any other identified intended users and for identified use, the appraiser cannot "readdress" (transfer) the report to another party. The appraiser can be engaged by the new mortgage company to perform a new inspection at a (possibly) discounted fee. The appraiser will create a new file with new photos. The opinion of value may or may not change.
What is USPAP?
Uniform Standards of Professional Appraisal Practice and Advisory Opinions. Developed in 1986 by the Ad Hoc Committee on Uniform Standards and copyrighted in 1987 by The Appraisal Foundation, USPAP forms the guidelines followed by every licensed and certified real estate appraiser in the United States. The purpose of these Standards is to establish requirements for professional appraisal practice, which includes appraisal, appraisal review, and appraisal consulting. The intent of these Standards is to promote and maintain a high level of public trust in professional appraisal practice.
New rule released by the GREAB and effective August 1st (In regards to comparables)
Paragraph 539-3-.02(1)(c)2.d. as approved by the GREAB and effective August 1, 2006:
”select comparable properties for valuation of a property that are located within the market area of the subject. Absent a credible real estate appraisal explanation for a different market area, the market area for residential properties shall be presumed to be comparable properties located first within the same subdivision as the subject and second located within one mile of the subject;”
What does the appraiser look for?
Typically, an appraiser needs to document the condition of the property, both inside and out, from the layout and features to degree of modernization including any updates as well as the overall quality of construction. This information will help to assist the appraiser throughout the valuation and comparison process.
The appraiser estimates the square footage (GLA - gross living area), by measuring the exterior of the home. Non-living areas, such as garages or covered porches, aren't included in GLA, but are accounted for and considered in value separately. Finished basements are also calculated separately from the above-ground GLA. The local market will dictate the contributory value of the finished basement, which can be influenced by governmental regulations, the degree of modernization, the quality of the finish, and other factors.
The appraiser will generally consider only permanent fixtures and real property. Because many above-ground swimming pools and small sheds are not permanent structures, they typically usually aren't included in the valuation. Depending on the specific installation process and local custom, however, an above ground pool or small shed might be considered part of the real property.
What improvements add the most value to my home?
Just how much any particular individual improvement might add to your home's market value, what appraisers typically call the contributory value, can often vary widely from market to market, dictated by the wants and needs of each neighborhood. However, a local appraiser familiar with your market can help you figure out the best home-improvement value. Check out Remodeling On-Line's Cost Vs. Value Report which features some information on how improvements might increase the value of your home from market to market.
I'm planning on selling my home, can you tell me what it's worth?
Yes, we often appraise homes to assist the seller with setting a price for sale on the open market. We can also offer advice to make your home sell quicker!
My property taxes are through the roof. Can you help me?
Yes we can help you. We can assist you by performing an independent appraisal on your home which you can use when you appeal your assessed value from the county in which your reside. The more informed you are, the better your argument.