The appraiser will look at square footage, lot size, bedrooms, baths, basements, major defects, major improvements, fire places, outbuildings etc. He/she will compare that to homes of similar scale in the immediate area that have recently sold and make adjustments for the difference in those major categories.

They will not be looking at most finishing details, decor, color choices, updates etc unless there is some obvious defect.

When we refinanced almost two years ago the appraiser just did a drive by appraisal. He pulled recent sold comps and compared them to ours based on size, age, number of bedrooms and general outside condition. He never noted the major improvements such as new roof, new a/c, updated baths and kitchen because he didn't even bother to stop! I would not have even known the appraiser was here if it wasn't for the bank calling me with the appraisal results!!

"He never noted the major improvements such as new roof, new a/c, updated baths and kitchen because he didn't even bother to stop!"

These roof and a/c do not appreciably change the appraised value.

The updated baths and kitchen might contribute but the increase is very hard for an assessor to determine so they usually do not have much affect.

They can result in a faster sale but you still have to use recent closed sales to determine the appraised value.

Major improvements are things that would set your house apart from the comparable sales. A roof is not a major improvement because all the comps have roofs too. A/C is standard in much of the country, so it isn't something the would adjust for either.

Generally, updated kitchens, baths etc aren't adjusted for either unless that is something unusual for the neighborhood. My current home is in a transitional urban neighborhood, so there is a big difference between those houses that have been rehabbed and those that have not. In most suburban areas, a reasonably modern kitchen is par for the course.

While I understand that every house has a roof and most have ac.....shouldn't there be some difference in value between a brand new roof and a 20 year old roof or a brand new ac and a 20 year old ac? Or is the difference negligible when it comes to the appraiser's pen?

" Or is the difference negligible when it comes to the appraiser's pen?"

The appraiser is only concerned with one thing...how much the bank can get for the house if the purchaser defaults.

While a roof at the end of its life is a minus (it will have to be replaced) a new roof is not a plus.

Last appraisal I got was BEFORE the big bank mess. It would not surprise me if things haven't changed some from what it use to be.
Last time the guy measured the outside of the house. Counted windows and doors and left. It took him maybe 15 minutes.

(Last appraisal I got was BEFORE the big bank mess. It would not surprise me if things haven't changed some from what it use to be.
Last time the guy measured the outside of the house. Counted windows and doors and left. It took him maybe 15 minutes.)

They are stricter then ever, we put an offer on a house recently that appraised 10,000 less, nice house but the owner built it in an older neighborhood (he had bought the lot years ago) it stands out and the surrounding neighborhoods are million dollar estates , that began our nightmare that we have'nt woken up from

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