Home Appraisals in Northern California

Residential appraisals in the Northern California include Single Family Residence, Condominiums, Multifamily residences, IC’ s, high-end properties and landappraisals. Appraisal reports can be used for different purposes, such as purchase, refinance, divorce, FSBO (For Sale By Owner), estate planning, PMI, probate or market value.

Turn around for a URAR full real estate appraisal and a drive-by appraisal is 2 to 3 business days after the inspection. Turn around for multi family residence appraisal report may take an extra business day due to income properties require sales, coast and income approach.

Reo and Foreclosure Appraisals

Colonial Appraisals has been performing foreclosure and REO appraisals in the San Francisco Bay Area-Northern California for the past few years. Due to the fact that several cities in the East Bay are within the top 10 Foreclosure Markets, it is very important to count on an experienced appraisal firm which has strong experience in the REO and FORECLOSURE market.

In most cases REO (Real Estate Owned) appraisals include REO addendums. Additional REO addendums require extra REO market analysis which will show vital information such as: supply and demand, marketing time, sales-to-price-ratio, factor that might affect the marketability and value of the property, items of repairs with estimate cost to bring the property into marketable condition and some recommended inspections.

REO appraisals in Northern California will require additional knowledge about current market prices for contractor services and materials for replacement.

Appraisal Reviews and Desk Reviews

Colonial Appraisal provides Appraisal Reviewers for residential appraisals, including single family, condominiums and multi family residences. Our professional opinion on appraisals under review will help lenders to make more accurate financial decisions within the lending process. Appraisal review in the San Francisco Bay area is not an easy task due to broad range in value in many neighborhoods due to amenities, location, views, improvements and in some cases assessments.

Our Field Review Appraisal Reports will provide a professional value opinion on an existing appraisal report. If the value stated on the appraisal report under review is incorrect, we will state what we consider a more appropriate fair market value based on thorough marker research. Our Appraiser Reviewer will address all the reasons why we consider a different market value and in most cases we will provide additional comparables to support our opinion (Enhanced Field Review).

Historical Appraisals

A Real Estate Home Appraisal in the Northern California can also be based on a specific time in the past. Primary reasons to develop a Historical Appraisal Report may be death, divorce, taxes and/or litigations. Our appraisers are capable to perform a through real estate market research based on a specific date in the past. Comparables within 6 months prior to the specific date will be included in the Historical Appraisal Report.

Exterior-Only Appraisal Report

A simple and more accurate way to determine a house market value will be an Exterior Only Appraisal or a Drive-By appraisal. This kind of assignments is commonly used by banks and lending institutions for line of credit. Our appraiser will personally inspect the property from the street and will perform an overall view of the market condition in that specific area. However, this kind of appraisal will not be as accurate as a full URAR Appraisal Report which includes an interior and exterior inspection by the appraiser.

Manufactured Appraisal Report

Colonial Appraisals also performs Manufactured and Mobile home appraisal in the entire San Francisco Bay Area-Northern California. Assignments like this require a strong knowledge about the different type of constructions and how to identify similar houses in a similar real estate market. Specific HUD date plate/compliance certificated is attached to the structure which shows the manufacture’s serial VIN number, HUD certification, manufacture’s name, model and date of the manufacture.