Why you should get an appraisal

Thousands of people in Arizona purchase, sell or refinance their home every year. Most of these transactions have a simple line item for an appraisal. Almost all lenders still want a local expert because the stakes are so high, even though there are a growing number of automated home valuation systems that might appear to be more prudent than an appraisal. You might believe that getting a mortgage is the only basis for getting an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be helpful.

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Challenge your tax assessment

It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a past assessment of your house, so if values have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from Phoenix Valuations, LLC is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.

Remove PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Oftentimes, this additional payment is folded into the monthly mortgage payment and is soon forgotten. This is damaging because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

Phoenix Valuations, LLC will produce a statement regarding the value of your home, and the expense of the appraisal can often be regained in little time because you'll no longer be paying the PMI.

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Get a fair valuation on a home take make a divorce settlement less stressful

A divorce can be a particularly horrible ordeal for both parties, and it is often even more complicated by the challenging decision of who gets the house. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from Phoenix Valuations, LLC, regardless of the situation.

If the parties want to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

Accurate and fair estate liquidation

The loss 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.

Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. And since a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.

Relocate to or from Maricopa County for work

Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide remarks on the positive attributes of their property, along with information regarding any new sales or listings in their area that they want considered.

Close on your home promptly — for the right price

Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.

On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, obtaining a professional appraisal is a reliable way to determine what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.

Let Phoenix Valuations, LLC assist you in selling your home quickly at the right price