The Broward County property appraisal industry has seen better days. Broward County now ranks tenth in the nation for residential property values. However, the County's real estate market is starting to turn around from a major crisis with foreclosures and home foreclosures on the rise. Unfortunately, with the current real estate market crisis, many potential buyers are turning away from properties that are priced too high. Instead, they are opting for properties that are priced too low.

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When a market is in trouble, property value decreases. That is what is happening right now in Broward County. Appraisers are seeing fewer sales because of the lowered property values and lower demand from buyers. When an appraisal determines the market value for a home it is used by the County to determine how much it should cost to buy or sell a home. In some areas it is used as the determining factor in the purchase price for a new house or the amount needed to close a short sale.

 

It is not uncommon for an appraiser to miss the mark on a home's market value by a huge amount. This can be a huge mistake. An appraisal is not a prediction of how the property will perform on the open market. It is more of a fair representation of how it is likely to perform. Market conditions change quickly and constantly. An appraiser must make an educated guess about the value of a property based on information available to them.

Broward County Property Appraiser

 

There are some areas where the market is in a true crisis. One of the places in Florida where homes are not selling for the asking price is the Miami-Dade County area. In that area the supply far exceeds the demand. As a result, there are more homes on the market than there are buyers. The result is overpriced homes and high percentage of homes that are actually sold for less than their fair market value.

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When a property appraiser comes to your office to determine the value of a home in Broward County, they will take many things into consideration. Market conditions, taxes, demographic, and construction-related factors are all taken into consideration. The process of rating a property can take months. This is because the entire market has to be reviewed and analyzed before a determination can be made.

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If you have concerns about the appraisal process in Broward County, you should contact a qualified and licensed property appraiser. These appraisers will come to your home and inspect it for themselves. They will discuss the market with you and give you their opinion. You should be aware of any discrepancies in the information that they present to you and request a correction to be placed on the appraisal.

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If you do not feel comfortable with the idea of allowing a professional appraiser to come to your home and make an appraisal, you can hire a professional to come in on your behalf. A licensed broker or real estate agent can come into your home and perform the services that a licensed property appraiser is responsible for. These agents are experienced and skilled in finding homes in Broward County at prices that are more than what is generally offered by a home owner. They can also find homes in some areas at prices that are less than what would be offered through a real estate agent. Their advice and recommendations are valuable when you are considering selling or purchasing a home.

 

The importance of choosing a qualified appraiser cannot be overstated. When the process is not handled properly, the results can be inaccurate and should be avoided. The appraisal is the basis for the contract that you enter into with a buyer, seller, or builder. This contract is the biggest part of the transaction, so if an appraiser is unable to complete the appraisal process properly, the transaction will fail.

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