Frequently Asked Questions
General Appraisal Questions
-
A real estate appraisal is an independent, unbiased opinion of a property's market value developed by a licensed or certified appraiser. Appraisals are completed using recognized appraisal methods, market research, property inspection, and analysis of comparable sales to produce a credible opinion of value.
-
Appraisals are commonly required for:
Buying a home
Selling a home
Refinancing a mortgage
FHA loans
Home equity loans
Estate settlement
Probate
Divorce proceedings
Trust administration
Tax appeals
Investment analysis
PMI removal
Financial planning
Private sales
-
In mortgage transactions, the lender typically orders the appraisal. For non-lending assignments such as divorce, estate planning, tax appeals, or private sales, homeowners, attorneys, accountants, investors, or other individuals may order an appraisal directly.
-
The party requesting the appraisal is generally responsible for the appraisal fee. In mortgage transactions, the borrower typically pays for the appraisal as part of the loan closing costs, even though the lender orders the appraisal.
-
Market value is the most probable price a property should bring in a competitive and open market under all conditions requisite to a fair sale. It assumes both the buyer and seller are acting prudently, are well informed, and neither is under undue pressure to complete the transaction.
-
No.
An appraisal estimates market value.
A home inspection evaluates the physical condition of the property and identifies defects or maintenance concerns.
Although appraisers observe the overall condition of a property, they are not performing a comprehensive home inspection.
-
No.
A CMA is prepared by a real estate agent to help estimate a listing or offering price.
An appraisal is completed by a licensed or certified appraiser following USPAP standards and includes a much more detailed analysis.
-
No.
County assessors determine assessed values primarily for taxation purposes.
Market value determined by an independent appraiser may be higher or lower than the assessed value.
-
An appraisal represents a well-supported professional opinion of value based on the best available market evidence as of the effective date of the appraisal. While no appraisal can predict future market changes, it is developed using recognized appraisal methods, current market data, and objective analysis to provide a credible estimate of value.
-
Yes.
Appraisers are required to comply with the Uniform Standards of Professional Appraisal Practice (USPAP), state licensing requirements, and applicable federal regulations.
The Appraisal Process
-
The appraisal process generally includes:
• Scheduling the appointment
• Inspecting the property
• Measuring the home
• Photographing the property
• Researching comparable sales
• Analyzing neighborhood and market trends
• Reconciling the data
• Preparing the final appraisal report
-
The property inspection itself typically takes between 30 minutes and one hour depending on the size, complexity, and condition of the property.
Research, analysis, and report preparation often require several additional hours. We offer a guaranteed five day turn time on most assignments.
-
Turn times vary depending on assignment complexity and current workload. At Madison Block Appraisals, we strive to provide prompt service and typically complete assignments within five business days whenever possible.
-
For most privately ordered appraisals, someone with access to the property should be present during the inspection unless other arrangements have been made with the appraiser.
For lender-ordered assignments, the homeowner, tenant, real estate agent, or another authorized individual may provide access.
-
Helpful preparations include:
Ensure all rooms are accessible.
Secure pets.
Complete small repairs if practical.
Prepare a list of recent improvements.
Provide documentation for major renovations.
Make sure addresses are clearly visible.
A clean home is appreciated but generally does not increase value on its own.
-
The appraiser evaluates numerous factors including:
Overall condition
Quality of construction
Living area
Room count
Functional layout
Site characteristics
Location
View
Upgrades
Remodeling
Deferred maintenance
External influences
Comparable sales
Market trends
-
Generally only to verify room functionality or access to certain areas.
Appraisers are not inspecting personal belongings.
-
Generally no.
Cabinets are only opened when necessary to access mechanical systems or confirm features.
-
No.
Furniture is not moved during the inspection.
-
Yes.
Many homeowners accompany the appraiser and ask questions throughout the inspection.
Home Value Questions
-
Potential contributors include:
Updated kitchens
Renovated bathrooms
Modern flooring
Energy-efficient improvements
Additional living area
Well-maintained condition
Desirable location
Functional floor plan
High-quality construction
Ultimately, buyers determine value through the marketplace.
-
Some improvements may not return their full cost, including:
Swimming pools
Luxury landscaping
High-end appliances
Custom décor
Extensive smart-home technology
Highly personalized renovations
While these features may enhance appeal, they do not always increase market value dollar-for-dollar.
-
Generally no.
Cleanliness alone does not determine market value. However, excessive clutter that prevents proper inspection or obscures damage may impact the appraiser's ability to fully evaluate the property.
-
Potentially.
The impact depends on ownership, financing, market acceptance, buyer demand, energy savings, and local market data.
-
Not always.
Converting a garage to living space may actually reduce marketability in some neighborhoods.
-
If permitted and considered finished living area by local standards, it may contribute value depending on the market.
-
Most home improvements do not return their full cost.
Value is determined by market reaction—not construction cost.
Buying & Selling
-
A pre-listing appraisal can provide an objective opinion of market value, helping sellers establish a competitive asking price and reduce pricing uncertainty.
-
Yes.
A private appraisal can help buyers better understand whether the agreed-upon purchase price reflects current market value.
-
Several options may be available depending on the transaction, including:
Renegotiating the purchase price
Increasing the down payment
Requesting a Reconsideration of Value (through the lender)
Canceling the transaction if permitted by the contract
-
Yes.
However, lenders generally base financing on the lower of the purchase price or appraised value.
Refinancing
-
Market conditions change over time.
A new appraisal provides the lender with an updated opinion of current market value.
-
Usually not.
Most lenders require a new appraisal completed specifically for the current loan transaction.
-
Private Mortgage Insurance (PMI) protects lenders when borrowers have less than 20% equity.
An appraisal may demonstrate sufficient equity to qualify for PMI removal, subject to lender requirements.
Property Types
-
Yes.
We provide appraisal services for manufactured homes that meet lender and assignment requirements.
-
Yes.
We appraise condominium units, including owner-occupied and investment properties.
-
Absolutely.
As Certified Residential Appraisers, we are qualified to appraise all one- to four-unit residential properties regardless of value.
-
Yes.
We provide appraisal services for custom homes, luxury residences, and high-value residential properties.
-
Yes.
We have experience appraising homes on acreage, rural residences, and properties with unique characteristics.
Common Appraisal Myths
-
No.
A professional appraiser's responsibility is to develop an independent, unbiased opinion of market value based on current market data and recognized appraisal methods. While the contract price is one piece of market information considered during the appraisal process, it does not determine the final opinion of value.
-
Absolutely.
You're welcome to share your thoughts, recent improvements, or neighborhood information. While the appraiser will consider any relevant information you provide, the final opinion of value must be based on objective market evidence—not personal opinions or desired outcomes.
-
No.
Appraisers are independent third parties. In a mortgage transaction, the appraiser's client is typically the lender, but the appraiser's responsibility is to provide an unbiased opinion of value—not to advocate for the buyer, seller, borrower, or lender.
-
No.
Furniture, artwork, décor, and personal belongings are considered personal property and are not included in the market value of the real estate. The appraisal focuses on the land and permanent improvements attached to the property.
-
No.
Professional appraisers rely on verified market data, Multiple Listing Service (MLS) information, public records, comparable sales, market analysis, and direct property inspections. While websites like Zillow can provide general estimates, they do not replace a professional appraisal.
-
Not necessarily.
Comparable sales are selected based on their similarity to the subject property, not simply because they sold for the highest price. Factors such as size, age, condition, location, quality, lot size, and amenities all influence whether a property is truly comparable.
-
Generally, no.
Tasteful decorating may improve a home's overall presentation, but cosmetic décor alone does not increase market value. Buyers pay for the property's features, condition, location, and utility—not the furniture or decorating style.
-
No.
Comparable sales are one of the most important components of a residential appraisal. Appraisers are required to analyze relevant market data and support their conclusions with credible evidence. Comparable sales cannot simply be ignored because they don't support a desired value
-
No.
Furniture is not moved during the inspection.
-
Not always.
Hardwood and tile flooring is often desirable to buyers, but the amount of value it contributes depends on the local market, neighborhood expectations, and the overall quality and condition of the home. Improvements rarely increase value dollar-for-dollar.
-
While a welcoming atmosphere is always appreciated, professional appraisers develop opinions of value based on objective market evidence, not fresh-baked cookies or pleasant aromas. Focus your efforts on ensuring the property is accessible, well-maintained, and that any recent improvements are documented.
Preparing for Your Appraisal
-
The best preparation is making sure the appraiser has easy access to the entire property. Unlock gates, garages, sheds, and any detached structures that should be inspected. Secure pets, ensure all rooms are accessible, and make a list of any recent improvements or renovations completed since you purchased the property.
-
Addressing obvious maintenance issues such as broken windows, missing handrails, leaking faucets, damaged flooring, peeling paint (especially for FHA loans), or exposed safety hazards can help present the property in its true condition. While cosmetic imperfections are common, significant deferred maintenance may affect marketability and value.
-
A clean home is always appreciated, but cleanliness alone does not determine market value. Normal everyday living conditions generally have little impact on value. However, excessive clutter that prevents access to portions of the home or hides damage can make the inspection more difficult.
-
Yes.
Providing receipts isn't required, but documentation for major improvements such as roof replacements, HVAC systems, solar installations, kitchen remodels, bathroom renovations, additions, or new windows can be very helpful. It allows the appraiser to accurately understand what improvements have been completed and when they were made.
-
Absolutely.
One of the most helpful things you can provide is a list of updates completed over the years. Include the year completed whenever possible. Even if an improvement doesn't add dollar-for-dollar value, it helps the appraiser accurately understand the property's condition and quality.
Examples include:
New roof
HVAC replacement
Water heater
Kitchen remodel
Bathroom renovations
Flooring replacement
Interior or exterior paint
New windows
Solar panels
Pool installation
Landscaping improvements
Room additions
-
While not required, the following documents can be helpful:
Survey or plot map (if available)
Floor plans
Building permits for additions or major remodels
Receipts for improvements
HOA information (if applicable)
Property information sheets
Recent inspection reports (when appropriate)
-
Be sure to let the appraiser know before or during the inspection. Depending on the assignment, the appraisal may be completed "as-is," "subject to completion," or "subject to repairs." Providing information about the scope of work and expected completion can help ensure the property is properly analyzed.
-
Yes, if you would like those improvements to be included in the inspection. Detached garages, workshops, guest houses, casitas, barns, and storage buildings can contribute to a property's overall appeal and value. Making these areas accessible allows the appraiser to fully inspect and document them.
-
That's completely normal. County records are not always updated immediately. Let the appraiser know about the improvements and provide any available documentation, permits, plans, or receipts. The appraiser will independently verify the work as part of the appraisal process and consider it in the analysis when appropriate.
About Madison Block Appraisals
-
We proudly serve clients throughout Pima County, Pinal County, and Maricopa County.
If your property is located outside our primary coverage area, please contact us to discuss availability.
-
Yes.
We are FHA approved and qualified to complete FHA residential appraisal assignments.
-
Choosing the right appraiser is about more than simply obtaining a value opinion—it's about working with a professional who is committed to accuracy, communication, and exceptional service.
At Madison Block Appraisals, we pride ourselves on delivering well-supported appraisal reports, timely turnaround times, responsive communication, and a thorough understanding of Arizona's residential real estate markets. Whether you're a homeowner, lender, real estate professional, or investor, we're committed to providing credible valuations you can rely on.