Steps to help your home appraise higher

How much is your home worth? Well, I guess that depends on who you ask.

Whether you are getting ready to sell, looking to refinance or just getting some peace of mind, you want to get the highest appraisal possible.

When refinancing or applying for a home equity line, a low appraisal can reduce the financial benefits of refinancing or cause your application to be rejected outright. When selling your home, a lower-than-expected appraisal can end up making you reduce your price or if the buyer is not conventional and the variance is too far off, it can cause them to be skittish and possibly make the deal fall through.

And, when getting a home appraisal for your own knowledge, getting a low appraisal just darn stinks.

Appraisals are neither a science nor an art, rather a practice.

Just like being a good Realtor, you need practice and most importantly, knowledge and expertise. As someone who has not been a lifetime Realtor, I can say that it is not about how long you have been doing something but more directly related to how skilled you are.

Technically, appraisers are evaluating your home on specific factors such as square footage, the quality of construction and the condition of the property. But, there is still a certain amount of skill needed to understand factors that get you to a final number. As a homeowner, it’s well worth your time to try to boost that number.

Here are 10 steps you can take to get the best value for your home:

1. Keep track of repairs and upgrades you’ve made.

 Make a list of repairs and upgrades you’ve made on the house, including items like new fixtures, flooring, roofing and landscaping. Make sure you point out improvements that might not be immediately visible to the appraiser, such as energy-efficient windows, new insulation and electrical upgrades. Energy-efficient appliances are a plus so mention them as well, especially if your neighbors don’t have them. Include receipts, dates work was completed and building permits.

2. Find new improvements that increase your neighborhood’s prestige. 

Let the appraiser know about things like coveted schools, better highway commute access or whether the neighborhood is sought-after for a specific reason. Improvements to the town overall can help your case, too, so note new community amenities like new restaurants, chains or grocery stores.

3. Provide comps.

 The appraiser will have comps of their own, but providing sales information on three or four comparable homes along with any current active or pending listings can help your case. Comps should also include sold-by-owner, auction and exclusive listing homes since many appraisers do not check past the MLS for sold comps.

4. Check your curb appeal.
 Make the house look clean, well-maintained and spruce things up by buying inexpensive annuals to pop into bare spots, touching up paint and patching and repairing cracked driveways and walkways. In this drought there are many companies that offer grass-painting services. This can help you stand out and give a nice curb appeal. Remove tired items like old doormats, worn-out lawn furniture and faded textiles like chair cushions and umbrellas. Fix broken things like hanging eaves or torn screens. Wash windows and remove debris from the home’s exterior.

5. Create a clean, well-lighted space. 

Appraisers aren’t officially looking at how clean your home is, but an unclean house gives the impression that the space hasn’t been kept up. What you can do is hire a professional service to clean your home top to bottom or just spruce up a little by cleaning the things you don’t normally think about, such as cobwebs in the light fixtures or grimy baseboards.

6. Declutter.

 If an appraiser cannot see behind furniture or inspect to make sure there are no health and safety concerns, you may be on the hook for a reinspection so go ahead and declutter spaces and make sure the appraiser has visible access to all areas he or she needs to inspect.

7. Make sure things work.

 Repair any broken fixtures and appliances. Make sure doors swing properly, light fixtures work and faucets don’t drip.

8. Finish projects in progress. 

If you are working on a home-improvement project, complete the work before the appraisal. Make sure all work has a finished, high-quality look; appraisers – especially VA/FHA – will note unfinished projects and require them to be completed to fund a loan.

9. Check HUD and local point-of-sale items. One of the appraiser’s duties is to make sure your home is up to local health and safety standards as stipulated by HUD and other regulations. The easiest way to know these is to contact your local lender or real estate professional for a list of what you should do to prepare you home.

10. Do a final walk through. Take some time and have your lender or agent walk through your house and point out anything you may have missed.

Remember, the top factor in your home appraisal is the local real estate market. Comparables tell the story of how homes are selling and whether homes are appreciating or depreciating.

Unfortunately, appraisers value your home based on the market rather than what people are willing to pay for your home.

Keep these tips in mind but also check with your local real estate professional or lender to get comps and find out what the market is saying your home is worth.

Nicole Solari (Bureau of Real Estate License No. 01952567) is a Realtor who holds the Seller Representative Specialist designation. Reach her at 486-5400 or nicole@solariteam.com.