The Appraisal
The appraisal process is often considered to be the process of analyzing, collecting and reconciling data that relates to any home or property being appraised. This data is then formatted in an order that can lead the reader (lender, underwriter, Buyer or Seller) of the report to the same conclusions as the appraiser.
You should look at each home for its individual characteristics. Generally, older homes may be in more established neighborhoods, offer more ambiance, and have lower property tax rates. People who buy older or existing homes, however, shouldn't mind maintaining their home and making some repairs. Newer homes tend to use more modern architecture and systems, are usually easier to maintain, and may be more energy-efficient. People who buy newer homes often do not want to worry initially about upkeep and repairs.
Only an appraiser can give a real home value to a lender/underwriter, but one thing your real estate agent can help you with, is determining the "sold" value of homes around the area. This is especially important when writing an offer or presenting an offer to a Seller.
