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can I update an appraisal on my own?

me again! LOL. I already know the answer, just get the professional out here. But the last appraisal of the property we live on now is from 2005. Is there a way to calculate percentage increases/decreases by myself to give me an idea of the cost of the property this year??

 
Owl_Feather

Asked by Owl_Feather at 5:29 PM on Jan. 23, 2011 in Home & Garden

Level 22 (13,272 Credits)
This question is closed.
Answers (5)
  • Unless that is your job and you are certified to give an appraisal, then no
    Anonymous

    Answer by Anonymous at 5:31 PM on Jan. 23, 2011

  • oh btw it is for a mobile home which from what I have been told only decreased in value. it is on about 2 acres of land.
    Owl_Feather

    Comment by Owl_Feather (original poster) at 5:31 PM on Jan. 23, 2011

  • LOL anon ok thanks! I wasnt sure if there was a way to do some calculations based on the paperwork I have in front of me.
    Owl_Feather

    Comment by Owl_Feather (original poster) at 5:32 PM on Jan. 23, 2011

  • oh and I dont mean literally update the appraisal, I mean more about doing some calculations to give me an idea
    Owl_Feather

    Comment by Owl_Feather (original poster) at 5:33 PM on Jan. 23, 2011

  • An appraisal not only takes into account the land, but also the house cost itself. It factors in other things such as neighborhood, popularity of the schools, the recent sale prices of homes that have sold (v. on the market) etc. I would be careful, particularly if you are submitting it for purposes of calculating property tax. If you under-estimate, you may be subject to an investigation for fraudulent activity.

    So you already know the answer... just get the pro. :)
    Busimommi

    Answer by Busimommi at 5:36 PM on Jan. 23, 2011

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