Blog Archives

How does an appraisal affect a home purchase?

First, let me explain the difference between an appraisal and an assessment, because that confuses a lot of people. The assessment is a valuation the city puts on your property for purposes of taxing your property. This value is often inaccurate and has nothing to do with your sale or purchase. An appraisal is an Read More

Verona Home Sales Statistics – March 2017

It’s that time of year again, the time when the Spring real estate market goes crazy! Currently we are seeing very low inventory in Verona and around the Madison area. There are only 34 available homes for sale in Verona, and 194 that have sold in the past year. This equates to only 2.1 months Read More

Appraisals In a Seller’s Market

In a hot seller’s market like we have right now, buyers are competing for homes and driving up sale prices. That’s great for a seller, until the appraisal. Occasionally in an inflating market the recent comparable sale values just aren’t there to support the contract price of a property. Recently we’ve seen several appraisals come Read More

Appraisals In a Hot Market

In a hot seller’s market like we have right now, buyers are often competing for homes the day they go on the market. This buyer competition is great for a seller, and it can occasionally drive sale prices up well above asking price. That sounds great if you are a seller right? Well, it may Read More

What is the difference between appraised value, assessed value, and market value?

This was the question in our Ask A Pro segment of the Verona Press this week, but I thought I would expand on our response. The Appraised Value of a property is a valuation conducted by a certified independent professional who visits a property and compares it to similar recently sold houses in the area. The appraiser will make adjustments to Read More

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