Why you should get an appraisalEvery 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. While there are a developing number of automated home valuation processes that might seem more cost-effective than an appraisal, practically all lenders still need a local expert because the stakes are so high. Is securing a mortgage the only reason to get an appraisal? Are there more instances when the services of a certified, independent real estate professional might be beneficial? You bet. 
Challenge your tax assessment in Los Angeles CountyIt's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in disputing your tax assessment. Removing PMI for mortgage paymentsPrivate Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask homeowners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met. If you'd like to get rid of PMI, Bowers Real Estate & Appraisal Services will provide you with a statement regarding the value of your home. The price you paid for the home valuation can generally be regained in little time because you'll no longer be paying the PMI. Order an appraisal from Bowers Real Estate & Appraisal Services Order onlineSettle a divorce with less stressA divorce is often complicated by the difficult decision of who maintains the property, and it can be an especially horrible event for both parties. So both parties are fully aware of the true market value of their property, it's a good idea to order an appraisal from Bowers Real Estate & Appraisal Services, regardless of the situation. The parties will have a better idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment. Ascertain an accurate and fair valuation for estate liquidationThe death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion. Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal. Move to or from Los Angeles County for workWe know the headaches associated with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide input on the positive characteristics of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered. Sell your home promptly — for the right priceWhether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report. On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, getting a professional appraisal is a reliable way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time. 
|