Why you should order an appraisal

Thousands of people in Alabama buy, sell or refinance their home every month. Many of these transactions include a simple line item for an appraisal. Almost all lenders still want a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that may seem less expensive than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there additional situations when the services of a licensed, independent real estate professional might be helpful? Of course there are.

Let Mike Noble Appraisals assist you in lowering your mortgage payment

Challenge your tax assessment in Elmore County

It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.

Getting rid of your PMI for mortgage payments

When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, nearly all lenders ask home buyers to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this extra payment is folded into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

Mike Noble Appraisals can give you a statement regarding the value of your home, and the price you paid for the home valuation can usually be regained in a short amount of time because you'll no longer be paying the PMI.

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Divorce settlement with less stress

A divorce is often complicated by the difficult decision of who maintains the home, and it can be a very traumatic ordeal for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Mike Noble Appraisals so both parties are completely aware of the true market value of their property.

The parties will have a a good idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.

Accurate and fair estate liquidation

The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans do not have dedicated estate planners or executors to handle these matters, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.

Move to or from Elmore County through an employee relocation program

We are aware of the headaches associated with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our intensive inspection.

Sell your home promptly — for the right price

Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.

We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time, because we're experts in knowing how long houses stay on the market.

Let Mike Noble Appraisals help you sell your home quickly at the right price