Is Your Home Ready for an Appraisal? Check These Factors First!

The Insider’s Guide to Home Appraisals with Mary Soper: What Every Homeowner Needs to Know

When it comes to buying, selling, or refinancing a home, one step often stands out as critical yet mysterious: the home appraisal. In this exclusive interview on The Dream is Real Podcast, veteran appraiser Mary Soper demystifies the process, offering homeowners and buyers invaluable insights into how property values are determined in New York’s competitive market.

Meet the Expert: Mary Soper

With nearly 30 years of experience, Mary has appraised everything from modest family homes to sprawling luxury estates. Her journey into the field began with a passion for homes and interior design, eventually leading to her certification as a trusted appraiser for banks and private clients across Long Island.

What Is a Home Appraisal?

A home appraisal determines a property’s market value, providing an unbiased assessment crucial for buyers, sellers, and lenders. Mary explains the process:

1. Inspection: Visiting the property, measuring square footage, and documenting amenities like pools or tennis courts.
2. Market Research: Finding comparable sales (comps) in the area.
3. Reporting: Creating a detailed 20-page report with photos, maps, and calculations.

“It’s not just about the house—it’s about the location, recent sales, and market trends,” Mary says.

Preparing for an Appraisal

Mary emphasizes the importance of presenting your home in the best possible light:

• Declutter and Clean: A tidy home feels more spacious and appealing.
• Small Fixes: Fresh paint, power-washed decks, and clean carpets can make a big impact.
• Provide Access: Ensure all areas, including basements and garages, are accessible to avoid delays.

Market Trends and Challenges

In 2024, the seller’s market has created unique challenges, with homes often selling above asking price. Mary advises, “Just because a buyer bids $50,000 over asking doesn’t mean the home will appraise for that amount.”

The Future of Appraisals

Despite technological advancements, Mary believes nothing replaces in-person evaluations. “You can’t capture a home’s smell, feel, or neighborhood vibe in an online tool,” she notes.

Conclusion

Whether you’re buying, selling, or refinancing, understanding the appraisal process is essential. For more real estate insights, visit www.dreamselectrealty.com and follow The Dream is Real Podcast on your favorite platforms.