Buying Your Home – Appraisals & Market Value
                     Serving 14 Counties in the DFW METROPLEX
DWELLWORKS APPRAISER 
OF THE YEAR FOR NORTH 
AMERICA
OUT OF 11,500 APPRAISERS
https://www.metropllexappraiisers.com
Buying Your Home – Appraisals & Market 
Value Celebrating 40 Years of Excellent Service
What is the return on new versus previously owned homes?
Buying into a new-home community may seem riskier than purchasing a house in an 
established neighborhood, but any increase in home value depends upon the same 
factors: quality of the neighborhood, growth in the local housing market and the state of 
the overall economy. One survey by the National Association of Realtors shows that 
resale homes do have an edge over new homes. The trade group’s figures show the 
median price of resale homes increased4.3 percent between 1999 and 2000, 
compared to 2.8 percent for new homes in the same period.
What’s a house worth?
A home ultimately is worth what someone will pay for it. Everything else is an estimate 
of value. To determine a property’s value, most people turn to either an appraisal or a 
comparative market analysis. An appraisal is a certified appraiser’s estimate of the 
value of a home at a given point in time. Appraisers consider square footage, 
construction quality, design, floor plan, neighborhood and availability of transportation, 
shopping and schools. Appraisers also take lot size, topography, view and landscaping 
into account. Most appraisals cost about $300. A comparative market analysis is a real 
estate broker’s or agent’s informal estimate of a home’s market value, based on sales 
of comparable homes in a neighborhood. Most agents will give you a comparative 
market analysis for free. You can do your own cost comparison by looking up recent 
sales of comparable properties in public records. These records are available at local 
recorder or assessor offices, through private real estate information companies or on 
the Internet.
What standards do appraisers use to estimate value?
Appraisers use several factors when estimating a home’s value, including the home’s 
size and square footage, the condition of the home and neighborhood, comparable 
local sales, any pertinent historical information, sales performance and indices that 
forecast future value.
What is the difference between list price, sales price and appraised value?
The list price is a seller’s advertised price, a figure that usually is only a rough estimate 
of what the seller wants to get. Sellers can price high, low or close to what they hope to 
get. To judge whether the list price is a fair one, be sure to consult comparable sales 
prices in the area. The sales price is the amount of money you as a buyer would pay 
for a property. The appraisal value is a certified appraiser’s estimate of the worth of a 
property, and is based on comparable sales, the condition of the property and 
numerous other factors.
What are the standard ways of finding out how much a home is worth?
A comparative market analysis and an appraisal are the standard methods for 
determining a home’s value. Your real estate agent will be happy to provide a 
comparative market analysis, an informal estimate of value based on comparable 
sales in the neighborhood. Be sure you get listing prices of current homes on the 
market as well as those that have sold. You also can research this yourself by 
checking on recent sales in public records. Be sure that you are researching properties 
that are similar in size, construction and location. This information is not only available 
at your local recorder’s or assessor’s office but also through private companies and on 
the Internet. An appraisal, which generally costs $200 to $300 to perform, is a certified 
appraiser’s opinion of the value of a home at any given time. Appraisers review 
numerous factors including recent comparable sales, location, square footage and 
construction quality.
How do you determine the value of a troubled property?
Buyers considering a foreclosure property should obtain as much information as 
possible from the lender, including the range of bids expected. It also is important to 
examine the property. If you are unable to get into a foreclosure property, check with 
surrounding neighbors about the property’s condition. It also is possible to do your own 
cost comparison through researching comparable properties recorded at local county 
recorder’s and assessor’s offices, or through Internet sites specializing in property 
records.
What is the difference between market value and appraised value?
The appraised value of a house is a certified appraiser’s opinion of the worth of a home 
at a given point in time online collaboration tools. Lenders require appraisals as part of 
the loan application process; fees range from $200 to $300. Market value is what price 
the house will bring at a given point in time. A comparative market analysis is an 
informal estimate of market value, based on sales of comparable properties, performed 
by a real estate agent or broker. Either an appraisal or a comparative market analysis 
is the most accurate way to determine what your home is worth.
Contact Information
            Metroplex Appraisal Network
     1220G Aiirport Fwy., Suiite 583, Bedford, TX, 76022, USA
         Websiite: https://www.metropllexappraiisers.com