Today, I'm heading over to my listing located at 130 Georgetown Road, West Newbury, MA to meet with a bank appraiser. An appraisal is an unbiased professional opinion of the value of a home and is used whenever a mortgage is involved in the buying, refinancing, or selling of a property. A licensed appraiser creates a report based on a visual inspection, using recent sales of similar properties, current market trends, and aspects of the home (e.g., amenities, floor plan, square footage) to determine the property’s appraisal value.
Valuating equestrian property can often be a challenge as there are fewer comparable horse farms on the market vs. your average single family home. The appraiser also needs to attribute value to the equestrian features of the property. i.e. barn, fencing, paddocks, useable land, arena(s), trail access, etc. which often isn't a straightforward calculation. As a real estate agent with 30+ years of experience and a life-long owner of horses, my expertise can often come in handy when meeting with the appraiser.
Inventory of homes for sale in the area is VERY low and properties are typically selling over asking price. If you're thinking of selling, CONTACT me today. Let's make your real estate goals a reality!
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