Blog Layout

4 Things to Know About Home Appraisals

Louisiana REALTORS • June 17, 2019

When you decide to sell your home, the appraisal process is big deal.  The appraisal is the evaluation of your home and property that is used to determine its value.  It is an unbiased opinion used by mortgage lenders to assign an objective worth to the home, ensuring that the amount that they lend to your buyer is appropriate.  Working with a knowledgeable, professional REALTOR® can help to not only sell your home, but to help through each stage of the process, including the appraisal.  Here are four important things to know about your home’s appraisal.

What does an appraiser do?

The appraiser assesses the property and provides an unbiased, objective judgement that is meant to validate the contract price of the home.  These findings are used by the lender.  The visit includes measuring the living space, taking pictures, performing a visual inspection of the interior, exterior, and surrounding area of the home. 

Can any improvements I’ve made impact the appraisal?

While making updates, improvements, and renovations to your home can enhance its appeal, it may not always result in a higher appraisal.  The cost of your updates will not result in an equivalent increase in appraised value.  While they may make your home more attractive to prospective buyers, they’ll have marginal impact on your appraiser’s valuation.

How does the appraised value compare to market value?

It is not uncommon for the market value of a home to be higher than the appraised value.  Working with a REALTOR® will help you price appropriately, but when financing is involved, if the appraised value is lower than the asking price, it can make a purchase at that price less likely.

What other factors influence the appraised value?

There are other factors involved than simply what the appraiser collects during their visit.  Comparable properties are a significant element that is used.  These are other homes in your area that are similar in size that have sold recently.  These sale prices will influence the appraised value of your home, in addition to the other data collected.

 

Consumer Guide Update: Homeowners Associations

By Louisiana REALTORS® • March 21, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on homeowners associations (HOAs). This guide covers the basics of what prospective buyers need to know, including who runs HOAs, how monthly fees are applied, rules HOAs enforce, and the pros and cons of living in an HOA community. For additional information, we encourage you to check out this REALTOR® Magazine article on the nuances of how homeowners associations can affect real estate transactions. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Homeowners Associations Marketing Your Home Seller Disclosures Property Taxes Preparing for Homeownership Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover navigating multiple offers.
Louisiana Real Estate Legislation Advocacy: How REALTORS® Can Make a Difference

Louisiana Real Estate Legislation Advocacy: How REALTORS® Can Make a Difference

By Louisiana REALTORS® • March 17, 2025
Discover how REALTORS® play a key role in legislative advocacy, ensuring that real estate rules and regulations protect brokers, clients, and the market. Learn about the benefits and opportunities they provide.

Consumer Guide Update: Marketing Your Home

By Louisiana REALTORS® • March 14, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on marketing a home. This guide covers several methods for sellers to consider, including setting up showings, hosting open houses, and maximizing the visual appeal of a home through staging and/or cosmetic updates. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Marketing Your Home Seller Disclosures Property Taxes Preparing for Homeownership Escrow and Earnest Money Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover homeowners associations.
Show More
Share by: