Appraisal Work

imagesAppraisal Work

Work Environment About this section

Appraisers and assessors of real estate research data on properties and write reports.

Appraisers and assessors of real estate held about 83,700 jobs in 2012. About 27 percent were self-employed. The industries that employed the most appraisers and assessors of real estate in 2012 were as follows:

Activities related to real estate 30%
Local government, excluding education and hospitals 29
Credit intermediation and related activities 4
State government, excluding education and hospitals 3
Offices of real estate agents and brokers 1

Although appraisers and assessors of real estate work in offices, they spend a large part of their day conducting site visits. Time spent on site versus in the office depends on the specialty. For example, residential appraisers tend to spend less time on office work than commercial appraisers, who might spend up to several weeks analyzing information and writing reports on one property. Appraisers who work for banks and mortgage companies generally spend most of their time inside the office, making site visits only when necessary.

Work Schedules

Appraisers and assessors of real estate typically work full time during regular business hours. However, self-employed appraisers, often called independent fee appraisers, usually work more than a standard 40-hour workweek, because they must often write reports during evenings and on weekends.

 

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Appraisers and Assessors of Real Estate,
on the Internet at http://www.bls.gov/ooh/business-and-financial/appraisers-and-assessors-of-real-estate.htm (visited September 06, 2014).

Appraisers Tampa Bay

Appraisal termsAppraisers Tampa Bay

What Appraisers and Assessors of Real Estate Do About this section

Appraisers and assessors of real estate inspect new and existing properties.

Appraisers and assessors of real estate estimate the value of land and the buildings on the land usually before it is sold, mortgaged, taxed, insured, or developed.

Duties

Appraisers and assessors of real estate typically do the following:

  • Verify legal descriptions of real estate properties in public records
  • Inspect new and existing properties, noting unique characteristics
  • Photograph the interior and exterior of properties
  • Use “comparables,” or similar nearby properties, to help determine value
  • Prepare written reports on the property value
  • Prepare and maintain current data on each real estate property

Appraisers and assessors work in localities that they are familiar with so that they know any environmental or other concerns that may affect the property’s value.

Appraisers typically value one property at a time, and they often specialize in a certain type of real estate:

  • Commercial appraisers specialize in property used commercially, such as office buildings, stores, and hotels.
  • Residential appraisers focus on appraising property in which people live, such as single family homes and condominiums, and appraise only those properties that house one to four families.

When estimating a property’s value, appraisers note unique characteristics of the property and surrounding area, such as a noisy highway or airport nearby. They also consider the condition of a building’s foundation and roof or any renovations that may have been done. In addition to photographing the outside of the building to document its condition, appraisers might also photograph a certain room or feature. After visiting the property, the appraiser estimates the value of the property by considering comparable home sales, lease records, location, view, previous appraisals, and income potential. During the entire process, appraisers record their research, observations, and methods used in calculating the property’s value.

Assessors mostly work for local governments and value properties for property tax assessments. Unlike appraisers, who generally focus on one property at a time, assessors often value an entire neighborhood of homes at once by using mass appraisal techniques and computer-assisted mass appraisal systems.

Assessors must be up to date on tax assessment procedures. Taxpayers sometimes challenge the assessed value because they feel they are being charged too much for property tax. Assessors must be able to defend the accuracy of their property assessments, either to the owner directly or at a public hearing.

Assessors also keep a database of every property in their jurisdiction, identifying the property owner, assessment history, and size of the property, as well as property maps detailing the property distribution of the jurisdiction.

 

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Appraisers and Assessors of Real Estate,
on the Internet at http://www.bls.gov/ooh/business-and-financial/appraisers-and-assessors-of-real-estate.htm (visited September 06, 2014).

Florida Hardest Hit-Apply

florida_hhffaqFlorida Hardest Hit-Apply

How to Apply

Go to www.FLHardestHitHelp.org and click on “Start Now” to fill out an online form to create a profile and begin the application process. Have the following items available:

  • Information about your first mortgage and second mortgage, if you have one. (Look on the payment coupon that your mortgage servicer sends you each month to find relevant information.)
  • Information about any other existing liens on the property, such as tax liens.
  • Your pay stubs or documentation of income you receive from other sources, such as unemployment compensation.
  • Your most recent income tax return, if self-employed.
  • Information about your checking and/or savings accounts, and other assets.

Once you complete the online application, a HHF advisor will contact you to set up an appointment to review your information.

Priority Appraisal and Mortgage Services Inc. is a residential appraisal firm experience in all areas of residential appraising in the Tampa Bay area. Focused in the Pasco, Pinellas and Hillsborough counties for the past 14 years. At Priority Appraisal and Mortgage Services, Inc. our customers are our priority. We provide fast accurate appraisals in a timely manner. We go above and beyond to fulfill your needs with any and all additional market information to serve your requirements.

For more appraisal info visit: http://PriorityAppraisalandMortgageServicesInc.appraiserxsites.com or call Shari Peterman directly at 727-505-6706. I look forward to hearing from you.

Florida Hardest Hit-Apply