order an appraisal.

Step 1: Order an appraisal and schedule your inspection

After you order your appraisal, I’ll call you to learn more about your property, discuss the timeline, fees, intended use and make sure we’re a good fit. If we are, I’ll email you an engagement letter, an invoice to pay up front and we’ll schedule a time for me to come inspect your property.

Keep in mind I only appraise residential properties in the Anchorage Municipality. 

Step 2: I’ll inspect your property in person

You’ll meet me at the property or give me access so I can take photos, measure your floor plan and inspect the property condition. You don’t have to clean your house or anything. Just make sure I have access to all rooms or outbuildings and notify any tenants I’ll be coming. I’ll need to see your building plans, specifications and list of budgeted building costs if it’s a new construction.

Curious how to prepare your home for my inspection? Download this checklist!

Step 3: I’ll determine what your property is worth

There’s three ways I can value your residential real estate. 

A common method is the sales approach to value. This is when I look up comparable properties that are similar to yours that have recently sold or are pending in the Anchorage area. I compare the building size, condition, lot features, amenities and other elements of your home versus those comparable sales and adjust your value accordingly. This is the most accurate way to determine what your home would sell for in the current market. This is commonly used for condos, single family homes, lots and multi-family. 

The second valuation method is the income approach. I’ll typically use this method when appraising a duplex, triplex, four-plex or rental property. I’ll ask you to provide me with the current market rents and copies of any lease agreements so I can know how much income your property is generating each month. I’ll then look for comparable income-producing properties nearby and use a calculation to determine what a willing investor or buyer would pay in the current market to buy your rental property. 

The third method is the cost approach. This method is commonly used for unique properties or new construction. I look at how much money it would take to replace your home in its current condition or rebuild it again. I look at the value of your land, the cost of construction, labor materials and then minus any depreciation. 

Step 4: I’ll write your appraisal report and present an opinion of value

This is the fun part! I take all the information I gathered from my inspection, market research and review of comparable properties and determine what your property is worth. This is called an opinion of value and I’ll send you my opinion in a complete PDF appraisal report. 

It’s important to keep in mind this report is confidential and only to be used for the original intended purpose we outlined in our initial engagement letter.