FAQs
What is a home appraisal?
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A home appraisal is an independent, unbiased opinion of a property's market value performed by a licensed or certified appraiser. Appraisals are commonly used for mortgage lending, real estate transactions, refinancing, and valuation purposes.
How is market value determined?
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Market value is determined through an analysis of recent comparable sales, current market conditions, property characteristics, location, condition, and other factors that influence buyer behavior in the marketplace.
How long does an appraisal take?
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Most assignments include a property inspection followed by research and report development. Madison Block Appraisals, LLC provides a guaranteed 5-business-day turnaround on most assignments.
Madison Block Appraisals proudly serves Pinal and Maricopa Counties, including Casa Grande, Eloy, Maricopa, Florence, Coolidge, Arizona City, San Tan Valley, Queen Creek, Chandler, Gilbert, Mesa, Phoenix, Scottsdale, and surrounding communities. On a case-by-case basis, we do sometimes cover other areas outside of Pinal and Maricopa counties.
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What areas do you serve?
Does an FHA Property Readiness Review guarantee FHA approval?
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No. Only the FHA appraiser and lender determine whether a property meets FHA requirements. A readiness review is intended to identify commonly observed issues that may require attention.
What is an FHA Property Readiness Review?
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An FHA Property Readiness Review is a non-lending consultation designed to help identify visible property conditions that could potentially affect FHA financing. The review helps sellers and real estate professionals address concerns before a buyer's FHA appraisal occurs.
A pre-listing appraisal is completed before a property is placed on the market. It provides an independent opinion of value that can help sellers and real estate professionals establish a competitive and realistic listing price.
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What is a pre-listing appraisal?
What is an ANSI-compliant measurement?
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ANSI-compliant measurements follow nationally recognized standards for calculating and reporting a home's gross living area (GLA). These standards promote consistency and accuracy when measuring residential properties.
Why is accurate square footage important?
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Accurate square footage can impact:
Property valuation
Listing accuracy
Marketing materials
Buyer expectations
Comparable sale analysis
Will I receive a sketch with my measurement?
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Yes. ANSI measurement services include a detailed sketch and square footage calculation based on current ANSI standards.
Yes. Madison Block is FHA-certified and qualified to perform FHA appraisal assignments.
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Are you FHA-certified?
What property types do you appraise?
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Assignments may include:
Single-family residences
Manufactured homes
Condominiums
New construction
Rural properties
Complex residential properties
How much does an appraisal cost?
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Fees vary depending on factors such as property location, size, complexity, intended use, and assignment scope. Contact Madison Block Appraisals for a personalized quote.
Do appraisers look at Zillow estimates?
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Appraisers may review publicly available information, including online valuation tools, but market value is determined through professional analysis of comparable sales, market conditions, and property characteristics rather than automated estimates.
What adds the most value to a home?
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Factors that commonly influence value include location, square footage, condition, functional layout, renovations, lot characteristics, and current market demand.
How accurate are online home value estimates?
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Online estimates can provide a general starting point, but they may not account for a property's condition, upgrades, location influences, or unique characteristics. A professional appraisal provides a more reliable and individualized analysis.
Market value reflects what a property is likely to sell for in the current market. Assessed value is determined by a taxing authority for property tax purposes and may differ significantly from market value.
What is the difference between market value and assessed value?
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A home appraisal focuses on determining market value, while a home inspection evaluates the property's physical condition and identifies potential defects or maintenance concerns.
What is the difference between an appraisal and a home inspection?
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Can a seller order an appraisal before listing a home?
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Yes. A pre-listing appraisal can help sellers and real estate professionals establish a realistic asking price before the property is marketed for sale.
There is no universal expiration date for an appraisal. Market conditions can change over time, and lenders may have their own requirements regarding appraisal age.
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How long is an appraisal valid?
A pre-listing appraisal may be beneficial when a property is unique, difficult to price, recently renovated, located in a rapidly changing market, or when the seller wants additional confidence in the listing price.
When should a Realtor recommend a pre-listing appraisal?
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How can a seller prepare for an FHA appraisal?
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Common preparation steps include addressing peeling paint, repairing safety hazards, ensuring utilities are operational, and correcting visible property deficiencies before the appraisal inspection.
If you don't see your question listed here, please contact Madison Block Appraisals, LLC. We're happy to discuss your appraisal or valuation needs and help determine the best service for your situation.