Real estate appraisal is that the real one?
Real estate appraisal or property value is the process of determining the value of the property on the basis of the greatest use and the highest of real property (which generally results in determining the fair market value of the property). The one who performs this real estate assessment exercise is called the real estate appraiser or property valuation surveyor. As dependant on property assessment the value may be the fair market value. The real estate appraisal is performed using various methods and the real estate appraisal values the property as different for difference reasons e.g. Different values might be assigned 2 by the real estate appraisal to the same property (Improved value and bare value) and again the same/similar property might be assigned different values in an industrial zone and a residential zone. But, the value assigned consequently of real estate assessment might not be the value a real estate investor would consider when assessing the house for investment. Actually, a real estate investor may completely ignore the value that arrives of real estate assessment process.
The property would be evaluated by a good real estate investor on the basis of the improvements going on in the area. Therefore as completed by a real estate investor real estate appraisal could produce the value that the real estate investor can get out of the property by getting it at a price and selling it at a much higher price (as in our). Similarly, real estate investor can do their own real estate assessment for the estimated value of the property in, say 2 years time or in 5 years time. Again, a estate investor might perform his real estate assessment based on what value he/she can make by committing some sum of money in the property i.e. a estate investor might decide on purchasing a dirty/scary kind of property (which no-one likes) and get some small repairs, painting etc done in order to improve the value of the property (the value that the real estate investor would get by selling it in the market). So, here the meaning of real estate appraisal improvements completely (and can be extremely different from the value that real estate appraiser could come out with if the real estate appraiser conducted a estate appraisal exercise on the house).
A real estate investor will usually base his investment decision on this real estate appraisal that he does by himself (or gets completed through someone). So, can we then term real estate appraisal as a very real real estate appraisal?
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