Watch the video above and answer the question when it's done. reveal question
Which of the following will have the greatest impact on the appraiser's opinion of value for Jesse and Sarah's home?
- The previous owner’s exquisite taste in furnishings and decor
- The home’s exterior landscape and pristine lawn condition
- The recent home improvements such as new paint and floor lacquer
- The fact that the home is in a good school district
- The price of the similar home that just sold down the street
By and large, appraisers will give top consideration to comparable neighborhood home sales within the past six months. Aesthetic qualities such as paint color or landscaping might be important to YOU when choosing a home, but appraisers do not give much credence to "subjective" home qualities. So, no matter how green the grass is, it’s not likely to influence the appraiser’s opinion.
You may have been tempted to answer "4" because school district is a very important factor in determining a NEIGHBORHOOD’s value. But ultimately, it’s a home’s general condition along with those apples-to-apples home sales that appraisers tend to use when deciding upon a home’s value.