Desert Cities Appraisal Service in Palm Desert are called upon for diverse purposes

Thousands of people in California buy, sell or refinance their home every year. A lot of these transactions contain a simple line item for an appraisal. Almost all lenders still need a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation methods that may appear to be more cost-effective than an appraisal. But is getting a mortgage the only reason to acquire an appraisal? Are there more cases when the services of a certified, independent real estate professional might come in handy? You bet.

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Let Desert Cities Appraisal Service help you challenge your tax assessment in Riverside County

It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your home, so if values have declined in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from Desert Cities Appraisal Service is your best evidence. At Desert Cities Appraisal Service, we're equipped to assist you in challenging your tax assessment.

How can you do away with PMI to lower your mortgage payment?

When the amount being loaned to the homeowner is more than 80% of the actual value of the property, nearly all lenders ask buyers to take out an extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to dismiss the PMI installments when the balance is paid down to 78% of the original value.

If you'd like to eliminate PMI, Desert Cities Appraisal Service will produce a statement regarding the value of your home. The price you paid for the home valuation can often be recovered in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress with an appraisal from Desert Cities Appraisal Service

A divorce can be an especially traumatic event for both parties, and it is often more complicated by the burdensome decision of who maintains the house. It's a good idea to order an appraisal from Desert Cities Appraisal Service so both parties are completely aware of the true market value of their home, regardless of the situation.

The parties will have a better idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.

Settling an estate with peace of mind

Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.

Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the correct value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Desert Cities Appraisal Service can help you with relocating to or from Riverside County

Moving due to a job change can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any current sales or listings in their area that they want considered during our detailed process.

Don't sell out for too little or let your home stay on the market too long.

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, which is different than the interest of real estate agents. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal.

We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long properties stay on the market. So, seeking a professional appraisal is a trusted way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market too long, costing you time and money.