A real estate appraisal is a valuation placed on a property by an appraiser.  Unlike shares of stock were the value can be found from the last trading price on an exchange, real estate trades infrequently and each property has its own features that give it value.  The job of the appraiser is to account for these differences in features, comparing them to similar recent sales, best use, income generated and replacement costs to arrive at the real estate appraisal.

In residential real estate the comparison approach is used most often.  Similar homes that have recently sold in the same market are compared to the property and the value is adjusted for more or fewer amenities, better or worse location, condition and other differences.

The income approach to real estate appraisal applies mostly to rental or commercial properties.  The appraised value may be arrived at by determining the amount of net income the property will produce over the term of several months or years.

Real estate appraisers are generally not licensed and just about anyone can put out a shingle offering appraisals.  Even websites have popped up online offering quick, and sometimes free, real estate appraisals such as zillow.com

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Real Estate Appraisal News
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• Consumer Bureau Reviewing Real Estate Appraisal Fee Disclosure Los Angeles T...
Consumer bureau reviewing real estate appraisal fee disclosureLos Angeles TimesSome appraisers are being paid less than half the fee, while the balance flows to an appraisal management company. By Kenneth R. Harney The new Consumer Financial Protection Bureau is working on a real estate issue that gets to the core of the agency39s Consumer bureau taking a closer look at appraisal feesU T San Diegoall 10 news articles raquo
• AGRICULTURE: Land Values Up Double Digits Again Grand Forks Herald
AGRICULTURE: Land values up double digits againGrand Forks HeraldNorth Dakota farm land values increased an average of 14 percent in 2011, according to an annual survey of appraisers and other real estate professionals. FARGO North Dakota farm land values increased an average of 14 percent in 2011, according to
• Real Estate Tax Bills Mailed This Week Mansfield News Journal
Real estate tax bills mailed this weekMansfield News JournalTyler Technologies Inc., a Dayton based firm hired to do the 2011 appraisal, completed the work during the last two years, Golden said. The firm viewed each property, but did not go inside homes or businesses. Information from the visual inspections,
• Westport Approves Baronaposs South Land Appraisal The Daily Westport
Westport Approves Baron39s South Land AppraisalThe Daily WestportThe property, known as Baron39s South, is set to be evaluated by a real estate appraisal and consulting firm in Cheshire. On Wednesday night, the Board of Finance unanimously approved an appropriation of 15000 requested by First Selectman Gordon and more raquo
• New Tool Standardizes Appraisals For SolarPowered Properties Mortgageorb
New Tool Standardizes Appraisals For Solar Powered PropertiesMortgageorbAccording to a report by the trade magazine Solar Industry, the tool is designed to provide appraisers, real estate agents and mortgage underwriters with more accurate values for PV systems and prevent PV installations from being ignored or undervalued and more raquo