CDC Consulting Services Inc Appraisals Alberta

CDC Residential Appraisal Services

CDC Consulting Services Inc. is specialized in residential appraisals with up to date technology and support staff to ensure low turnaround times. Our firm researches all cost information on a regular basis to ensure correct costs and cost construction indexes are available to our appraisers. Our research department continuously monitors market increases and trends to assist in providing accurate market values. CDC offers a Platinum Service for all our files which ensures that the appraisers are insured, members in good standing, licensed and peer reviewed.

NEW!

Desktop Appraisals in 1 hour: CDC can provide accurately, verified, residential desktop appraisals within an hour of your order. A CDC desktop valuation is performed by a real live licensed real estate appraiser who has experience in the local market and the subjectivity to select the most reliable comparable sales available which will yield the most accurate value range possible. Licensed appraisers are required to maintain a high level of knowledge in the valuation process through mandatory continuing education so they are up to date with current appraisal requirements. Most free web based services are computer driven without the ability to distinguish between a reliable (comparable) sale and a non-comparable sale. These Automated systems do not follow the typical appraisal process of valuation and consequently the end result is compromised. Automated Valuation Models provide instant inaccurate values which cost the financial institutions as well as consumer's money and in the end create opportunities for Fraud.

Residential Appraisal Frequently Asked Questions

Q: Why are real estate appraisals important?
Q: What services do real estate appraisers offer?
Q: What is market value?
Q: How long does an appraisal take?
Q: How accurate is the appraisal? Is there a time qualification on the appraisal?
Q: What's the quickest thing a home owner can do to increase the value of a property?
Q: What do you look for to determine the value of a property?
Q: What are the important aspects of the appraisal that every home owner know?
Q: Is there anything a home owner should do to prepare for an appraisal?
Q: What are the major aspects that seriously devalue a property?
Q: Likewise, what aspects can add value?
Q: Is there a specific designation or training appraisers should have?
Q: How does the location or neighborhood impact the appraisal?
Q: What are you comparing properties to?
Q: Where do you get your latest information regarding current market conditions?
Q: What part of the appraisal has the biggest impact on the appraisal?
Q: What things do appraisers not take in to account when making their evaluation?
Q: What's the most common question the appraiser is asked?
Q: What's the most important question you are rarely asked?
Q: Is this an objective or subjective process?
Q: Why is it important to have an appraisal done?
Q: What is the difference between a fully and partially developed basement?
Q: Will I get a copy of the report?
Q: What is a Desktop Appraisal?
Q: What information is used?
Q: Can a desktop be upgraded to a full appraisal?
Q: Is there an advantage to getting a desktop valuation over a free valuation service?
Q: What's the difference between an Appraisal and a Comparative Market Analysis?
Q: Can my lender use the desktop appraisal?

Q: Why are real estate appraisals important?
A: Because much of an individuals' or corporation's wealth lies in real estate, it is essential to the economic well-being of society that the real value of property is understood. On an individual level, real estate appraisers provide an impartial third party assessment of property value to ensure that real estate buyers do not overpay for property and that lenders do not over lend to buyers.

Q: What services do real estate appraisers offer?
A: Real estate appraisal services vary by Appraisal Company. CDC Consulting Services Inc. offers all types of appraisals (residential/commercial/industrial, machinery and equipment, agricultural, expropriation, counseling, consulting, feasibility studies, market analysis, assessment appeal and review, insurance appraisals, Contingency Reserve Fund Assessments, GREEN Valuations and business valuation.

Q: What is market value?
A: Market value is the probable price that a piece of property should bring in an open and competitive market.

Q: How long does an appraisal take?
A: The physical inspection of a property can take as little as 20 minutes to as much as several hours. The length of the appraisal document is dependant upon the property itself.

Q: How accurate is the appraisal? Is there a time qualification on the appraisal?
A: An appraisal is an Opinion of Value so to a certain extent there could be a range of values expressed by different appraisers. There are also different types of value. The most common value calculated is Market Value. However, depending on the purpose of the appraisal other values developed could include Insurance Value, Liquidation Value, Investment Value. Provided consistent methods are applied there should not be any significant difference in value between appraised values.

Q: What would be the fastest or easiest thing a home owner can do to increase the value of a property?
A: Presentation is important – the appraiser is ultimately viewing the property from the perspective of how much would someone pay for this property. Fixing minor faults such as leaky faucets, squeaky doors, minor paint touch ups and generally tidiness can help the appraiser develop a favorable opinion.

Q: What do you look for to determine the value of a property?
A: There are several factors considered in determining the value of a property- the style, age, maintenance, floor plan , facilities, lot location and size, any positive or adverse influences external to the house , for example, high voltage power lines, streets or highways carrying high volume of traffic, a golf course, lake front and others can impact value.

Q: What are the important aspects of the appraisal and the process that every home owner know?
A: The appraiser is an independent professional who has no preconceived opinions of your home. They are not attempting to "make a deal". Experienced appraisers view hundreds of houses in a year, so they can make relative comparisons between different houses. The process is further backed by extensive market research relating to the property, the neighborhood, the real estate market and the underlying economy of the region.

Q: Is there anything a home owner should do to prepare for an appraisal?
A:The homeowner has intimate knowledge of the property, whereas the appraiser is visiting for maybe an hour, so it is helpful to have certain documentation available for the appraiser to view – copies to take for the work file are even more appreciated. The Real Property Report will define the lot size and orientation, Municipal tax notices, a list of the improvements and upgrades already completed in the property. Future plans, while interesting, do not have any impact on the outcome of the appraisal – unless there is a specific requirement to project a value on the completion of future improvements.

Q: What are the major aspects that seriously devalue a property?
A: Poor maintenance or presentation, a dysfunctional floor plan, for example , modern homes expect a ratio of bathrooms to bedrooms of at least 1:2. Older homes frequently may have only 1 bathroom to 3 or 4 bedrooms. Another example is a poorly located access to the kitchen, pantry or store from the driveway or garage for transportation of shopping from car to ultimate storage area.

Q: Likewise, what aspects can add value?
A: A functional floor plan, good lighting and presentation, regular maintenance and updating, good location with convenient access to essential services.

Q: Is there a specific designation or training appraisers should have? When I hire an appraiser, what credentials should I ask for?
A: In Canada there are 2 recognized appraisal organizations conferring designations to members who have completed the required practical and educational requirements. The Canadian National Association of Real Estate Appraisers and the Appraisal Institute of Canada are the two organizations generally accepted in Canada. Additionally, certain provinces require that appraisers be provincially licensed. If an appraiser possesses any of the designations, DAC, DAR, CRA or AACI, that appraiser has completed successfully the appropriate training and education.

Q: How does the location or neighborhood impact the appraisal?
A: Location is important –typical beneficial features are lakefront or lake access, golf course, green space, convenience to services; negative features could include a busy highway, high voltage power lines, industrial and commercial activity close to the property.

Q: What are you comparing properties to?
A: The appraiser is initially comparing the property to similar styled properties in the immediate neighborhood- if there are no suitably comparable properties then comparisons are made with similar properties in other locations with similar features. Influences such as style, age, location, facilities, construction quality are just some of the factors considered.

Q: Where do you get your latest information regarding current market conditions?
A: Generally, most reference is done to the Multiple Listing Service operated by the local real estate board. On rare occasions appraiser may require to investigate other sales through the services of Land Registry or real estate services or agencies which trade properties, although this is a rarity, especially where residential properties are concerned.

Q: What part of the appraisal has the biggest impact on the appraisal? (i.e. neighborhood, features, level of upgrades, completion).
A: The appraisal process is a holistic approach and each of the above contributes to the final conclusion of value – however, if I had to pick one in particular I would say the level of maintenance and upgrading evident at the property probably carries most weight.

Q: What are some of the things appraisers do not take in to account when making their evaluation?
A: As stated previously, the appraisal process is a holistic approach including all factors which impact value – however, appraisers are not inspectors from "Good Housekeeping" so the homeowner should not get stressed if there is a little bit of untidiness evident!

Q: What's the most common question the appraiser is asked?
A: "How much is it worth?" While that is the primary purpose for undertaking the appraisal a certain value cannot be expressed at the time of viewing, without undertaking the research referred to earlier.

Q: What's the most important question you are rarely asked?
A: "To improve value what would you suggest?" The appraiser is experienced in viewing many homes as well as being well versed in what features and upgrades are popular in the market.

Q: Is this an objective or subjective process?
A: Both! An independent appraisal is predominantly an objective process, applying varying disciplines and observations to determine value. However, as with most activities involving people there is a subjective element which should be at a minimum.

Q: Why is it important for a person who is selling their property privately to have an appraisal done?
A: When a qualified real estate appraiser is engaged for a valuation assignment, you are retaining the services of a professional with wide ranging experience of what is currently happening in the marketplace. As an independent party, the appraiser has no special interest in valuing high or low but will present a market value based on proven methods, experience and knowledge. Additionally there is on record a professional valuation which may be required at a later date by tax authorities such as Canada Revenue Agency.

Q: What is the difference between a fully developed basement and a partially developed basement? What are the impacts of each?
A: In reality there are very few "fully developed" basements as generally a certain area such as the mechanical room is not developed. However, basement finishes can vary extensively from, for example, one large family/rumpus room encompassing the entire floor area or include a number of bedrooms, bathroom, exercise rooms, home theatres- the list goes on and on. A partially finished basement is essentially where there is some development but a significant portion remains as it was when the builders left the property. The quality of development also has significant influence on the value attributed.

Q: Will I get a copy of the report?
A: That depends on who the client is? If you instructed the appraisal and are considered to be the client then you are entitled to a copy. However, if a third party, such as a financial institution ordered the appraisal and even if you are paying for it, the appraiser is required to deliver the report to them. Depending on the policies of the institution a copy may be provided to you.

Desktop Appraisals - Frequently Asked Questions

Q: What is a Desktop Appraisal?
Q: What information is used?
Q: Can a desktop be upgraded to a full appraisal?
Q: Is there an advantage to getting a desktop valuation over a free valuation service?
Q: What is the difference between an Appraisal and a Comparative Market Analysis?
Q: Can my lender use the desktop appraisal?

Q: What is a Desktop Appraisal?

A: The Desktop Appraisal Report is a market analysis report completed from the Appraiser's "desk" and does not include a physical inspection of the property, interior or exterior. This report will provide a general description of the subject as well as Tax and MLS data which is assumed to be correct without further investigation. The Desktop Report also relies on the Direct Comparison Approach and does not provide a Cost Approach to value. The Desktop Report provides a range of value similar to the Drive-By Report and it is also considered to be limited in its findings. It is also only completed at the express request of the Client.

Why is the Desktop Appraisal Ideal?

CDC has found the desktop appraisal to be ideal for the following situations:

- Internal Decision Making for Toxic Assets and/or Loan Portfolios
- Bankruptcies
- Divorces
- Loan Mediations
- Non-Federally Related Transactions

Q: What information is used?
A: Desktop appraisals utilize public records for details about the subject property, property imagery and market forecasting. A local, geographically competent, certified appraiser defines the neighborhood, imports local MLS data, and then reconciles a value range accurate with the marketplace.

Q: Can a desktop be upgraded to a full appraisal?
A: Yes and credit can be given for the desktop appraisal towards the full appraisal. The mortgage application procedure requires considerable paperwork and an abundance of time and energy. Many borrowers go through all of the hard work involved with the process only to find out, when a full appraisal is finally done, that the lender is not able to finance due to the value of the property. This is where a desktop can be done in one hour to decide if a full should be completed to proceed with financing.

Q: Is there an advantage to getting a desktop valuation over a free web based valuation service?

A: Yes! A CDC desktop valuation is performed by a real live licensed real estate appraiser who has experience in the local market and the subjectivity to select the most reliable comparable sales available which will yield the most accurate value range possible. Licensed appraisers are required to maintain a high level of knowledge in the valuation process through mandatory continuing education so they are up to date with current appraisal requirements. Most free web based services are computer driven without the ability to distinguish between a reliable (comparable) sales and a non-comparable sale. These Automated systems do not follow the typical appraisal process of valuation and consequently the end result is compromised.

Q: What is the difference between an Appraisal and a Comparative Market Analysis (CMA)?

A: Simply put, the difference is night and day. The CMA relies on vague market trends. The appraisal relies on specific, verifiable comparable sales. In addition, the appraisal looks at other factors like condition, location and construction costs. A CMA delivers a "ball park figure." An appraisal delivers a defensible and carefully documented opinion of value. The biggest difference, however, is the person creating the report. A CMA is created by a real estate agent who may or may not have a true grasp of the market or valuation concepts. The appraisal is created by a licensed, certified professional who has made a career out of valuing properties. Further, the appraiser is an independent voice, with no vested interest in the value of a home, unlike the real estate agent, whose income is tied to the value of the home and may generate additional buyers by obtaining your listing.

Q: Can my lender use the desktop appraisal?

A: Most lenders will require an appraisal with a more detailed scope of work for mortgage security. However, the opinion of value range provided by a licensed appraiser in the CDC desktop valuation can be used by your lender or realtor as a reference point.

Did you know...

CDC Consulting Services Inc network consists of over 50 appraisers and 10 appraisal firms.

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Residential Appraisals Commercial Appraisals Assessment Appeals Insurance Appraisals Agricultural Appraisals Personal Property Appraisals Business Valuation Reserve Fund Green Building	CDC Residential Appraisal Services CDC Consulting Services Inc. is specialized in residential appraisals with up to date technology and support staff to ensure low turnaround times. Our firm researches all cost information on a regular basis to ensure correct costs and cost construction indexes are available to our appraisers. Our research department continuously monitors market increases and trends to assist in providing accurate market values. CDC offers a Platinum Service for all our files which ensures that the appraisers are insured, members in good standing, licensed and peer reviewed. NEW! Desktop Appraisals in 1 hour: CDC can provide accurately, verified, residential desktop appraisals within an hour of your order. A CDC desktop valuation is performed by a real live licensed real estate appraiser who has experience in the local market and the subjectivity to select the most reliable comparable sales available which will yield the most accurate value range possible. Licensed appraisers are required to maintain a high level of knowledge in the valuation process through mandatory continuing education so they are up to date with current appraisal requirements. Most free web based services are computer driven without the ability to distinguish between a reliable (comparable) sale and a non-comparable sale. These Automated systems do not follow the typical appraisal process of valuation and consequently the end result is compromised. Automated Valuation Models provide instant inaccurate values which cost the financial institutions as well as consumer's money and in the end create opportunities for Fraud. Residential Appraisal Frequently Asked Questions Q: Why are real estate appraisals important? Q: What services do real estate appraisers offer? Q: What is market value? Q: How long does an appraisal take? Q: How accurate is the appraisal? Is there a time qualification on the appraisal? Q: What's the quickest thing a home owner can do to increase the value of a property? Q: What do you look for to determine the value of a property? Q: What are the important aspects of the appraisal that every home owner know? Q: Is there anything a home owner should do to prepare for an appraisal? Q: What are the major aspects that seriously devalue a property? Q: Likewise, what aspects can add value? Q: Is there a specific designation or training appraisers should have? Q: How does the location or neighborhood impact the appraisal? Q: What are you comparing properties to? Q: Where do you get your latest information regarding current market conditions? Q: What part of the appraisal has the biggest impact on the appraisal? Q: What things do appraisers not take in to account when making their evaluation? Q: What's the most common question the appraiser is asked? Q: What's the most important question you are rarely asked? Q: Is this an objective or subjective process? Q: Why is it important to have an appraisal done? Q: What is the difference between a fully and partially developed basement? Q: Will I get a copy of the report? Q: What is a Desktop Appraisal? Q: What information is used? Q: Can a desktop be upgraded to a full appraisal? Q: Is there an advantage to getting a desktop valuation over a free valuation service? Q: What's the difference between an Appraisal and a Comparative Market Analysis? Q: Can my lender use the desktop appraisal? Q: Why are real estate appraisals important? A: Because much of an individuals' or corporation's wealth lies in real estate, it is essential to the economic well-being of society that the real value of property is understood. On an individual level, real estate appraisers provide an impartial third party assessment of property value to ensure that real estate buyers do not overpay for property and that lenders do not over lend to buyers. Q: What services do real estate appraisers offer? A: Real estate appraisal services vary by Appraisal Company. CDC Consulting Services Inc. offers all types of appraisals (residential/commercial/industrial, machinery and equipment, agricultural, expropriation, counseling, consulting, feasibility studies, market analysis, assessment appeal and review, insurance appraisals, Contingency Reserve Fund Assessments, GREEN Valuations and business valuation. Q: What is market value? A: Market value is the probable price that a piece of property should bring in an open and competitive market. Q: How long does an appraisal take? A: The physical inspection of a property can take as little as 20 minutes to as much as several hours. The length of the appraisal document is dependant upon the property itself. Q: How accurate is the appraisal? Is there a time qualification on the appraisal? A: An appraisal is an Opinion of Value so to a certain extent there could be a range of values expressed by different appraisers. There are also different types of value. The most common value calculated is Market Value. However, depending on the purpose of the appraisal other values developed could include Insurance Value, Liquidation Value, Investment Value. Provided consistent methods are applied there should not be any significant difference in value between appraised values. Q: What would be the fastest or easiest thing a home owner can do to increase the value of a property? A: Presentation is important – the appraiser is ultimately viewing the property from the perspective of how much would someone pay for this property. Fixing minor faults such as leaky faucets, squeaky doors, minor paint touch ups and generally tidiness can help the appraiser develop a favorable opinion. Q: What do you look for to determine the value of a property? A: There are several factors considered in determining the value of a property- the style, age, maintenance, floor plan , facilities, lot location and size, any positive or adverse influences external to the house , for example, high voltage power lines, streets or highways carrying high volume of traffic, a golf course, lake front and others can impact value. Q: What are the important aspects of the appraisal and the process that every home owner know? A: The appraiser is an independent professional who has no preconceived opinions of your home. They are not attempting to "make a deal". Experienced appraisers view hundreds of houses in a year, so they can make relative comparisons between different houses. The process is further backed by extensive market research relating to the property, the neighborhood, the real estate market and the underlying economy of the region. Q: Is there anything a home owner should do to prepare for an appraisal? A:The homeowner has intimate knowledge of the property, whereas the appraiser is visiting for maybe an hour, so it is helpful to have certain documentation available for the appraiser to view – copies to take for the work file are even more appreciated. The Real Property Report will define the lot size and orientation, Municipal tax notices, a list of the improvements and upgrades already completed in the property. Future plans, while interesting, do not have any impact on the outcome of the appraisal – unless there is a specific requirement to project a value on the completion of future improvements. Q: What are the major aspects that seriously devalue a property? A: Poor maintenance or presentation, a dysfunctional floor plan, for example , modern homes expect a ratio of bathrooms to bedrooms of at least 1:2. Older homes frequently may have only 1 bathroom to 3 or 4 bedrooms. Another example is a poorly located access to the kitchen, pantry or store from the driveway or garage for transportation of shopping from car to ultimate storage area. Q: Likewise, what aspects can add value? A: A functional floor plan, good lighting and presentation, regular maintenance and updating, good location with convenient access to essential services. Q: Is there a specific designation or training appraisers should have? When I hire an appraiser, what credentials should I ask for? A: In Canada there are 2 recognized appraisal organizations conferring designations to members who have completed the required practical and educational requirements. The Canadian National Association of Real Estate Appraisers and the Appraisal Institute of Canada are the two organizations generally accepted in Canada. Additionally, certain provinces require that appraisers be provincially licensed. If an appraiser possesses any of the designations, DAC, DAR, CRA or AACI, that appraiser has completed successfully the appropriate training and education. Q: How does the location or neighborhood impact the appraisal? A: Location is important –typical beneficial features are lakefront or lake access, golf course, green space, convenience to services; negative features could include a busy highway, high voltage power lines, industrial and commercial activity close to the property. Q: What are you comparing properties to? A: The appraiser is initially comparing the property to similar styled properties in the immediate neighborhood- if there are no suitably comparable properties then comparisons are made with similar properties in other locations with similar features. Influences such as style, age, location, facilities, construction quality are just some of the factors considered. Q: Where do you get your latest information regarding current market conditions? A: Generally, most reference is done to the Multiple Listing Service operated by the local real estate board. On rare occasions appraiser may require to investigate other sales through the services of Land Registry or real estate services or agencies which trade properties, although this is a rarity, especially where residential properties are concerned. Q: What part of the appraisal has the biggest impact on the appraisal? (i.e. neighborhood, features, level of upgrades, completion). A: The appraisal process is a holistic approach and each of the above contributes to the final conclusion of value – however, if I had to pick one in particular I would say the level of maintenance and upgrading evident at the property probably carries most weight. Q: What are some of the things appraisers do not take in to account when making their evaluation? A: As stated previously, the appraisal process is a holistic approach including all factors which impact value – however, appraisers are not inspectors from "Good Housekeeping" so the homeowner should not get stressed if there is a little bit of untidiness evident! Q: What's the most common question the appraiser is asked? A: "How much is it worth?" While that is the primary purpose for undertaking the appraisal a certain value cannot be expressed at the time of viewing, without undertaking the research referred to earlier. Q: What's the most important question you are rarely asked? A: "To improve value what would you suggest?" The appraiser is experienced in viewing many homes as well as being well versed in what features and upgrades are popular in the market. Q: Is this an objective or subjective process? A: Both! An independent appraisal is predominantly an objective process, applying varying disciplines and observations to determine value. However, as with most activities involving people there is a subjective element which should be at a minimum. Q: Why is it important for a person who is selling their property privately to have an appraisal done? A: When a qualified real estate appraiser is engaged for a valuation assignment, you are retaining the services of a professional with wide ranging experience of what is currently happening in the marketplace. As an independent party, the appraiser has no special interest in valuing high or low but will present a market value based on proven methods, experience and knowledge. Additionally there is on record a professional valuation which may be required at a later date by tax authorities such as Canada Revenue Agency. Q: What is the difference between a fully developed basement and a partially developed basement? What are the impacts of each? A: In reality there are very few "fully developed" basements as generally a certain area such as the mechanical room is not developed. However, basement finishes can vary extensively from, for example, one large family/rumpus room encompassing the entire floor area or include a number of bedrooms, bathroom, exercise rooms, home theatres- the list goes on and on. A partially finished basement is essentially where there is some development but a significant portion remains as it was when the builders left the property. The quality of development also has significant influence on the value attributed. Q: Will I get a copy of the report? A: That depends on who the client is? If you instructed the appraisal and are considered to be the client then you are entitled to a copy. However, if a third party, such as a financial institution ordered the appraisal and even if you are paying for it, the appraiser is required to deliver the report to them. Depending on the policies of the institution a copy may be provided to you. Desktop Appraisals - Frequently Asked Questions Q: What is a Desktop Appraisal? Q: What information is used? Q: Can a desktop be upgraded to a full appraisal? Q: Is there an advantage to getting a desktop valuation over a free valuation service? Q: What is the difference between an Appraisal and a Comparative Market Analysis? Q: Can my lender use the desktop appraisal? Q: What is a Desktop Appraisal? A: The Desktop Appraisal Report is a market analysis report completed from the Appraiser's "desk" and does not include a physical inspection of the property, interior or exterior. This report will provide a general description of the subject as well as Tax and MLS data which is assumed to be correct without further investigation. The Desktop Report also relies on the Direct Comparison Approach and does not provide a Cost Approach to value. The Desktop Report provides a range of value similar to the Drive-By Report and it is also considered to be limited in its findings. It is also only completed at the express request of the Client. Why is the Desktop Appraisal Ideal? CDC has found the desktop appraisal to be ideal for the following situations: - Internal Decision Making for Toxic Assets and/or Loan Portfolios - Bankruptcies - Divorces - Loan Mediations - Non-Federally Related Transactions Q: What information is used? A: Desktop appraisals utilize public records for details about the subject property, property imagery and market forecasting. A local, geographically competent, certified appraiser defines the neighborhood, imports local MLS data, and then reconciles a value range accurate with the marketplace. Q: Can a desktop be upgraded to a full appraisal? A: Yes and credit can be given for the desktop appraisal towards the full appraisal. The mortgage application procedure requires considerable paperwork and an abundance of time and energy. Many borrowers go through all of the hard work involved with the process only to find out, when a full appraisal is finally done, that the lender is not able to finance due to the value of the property. This is where a desktop can be done in one hour to decide if a full should be completed to proceed with financing. Q: Is there an advantage to getting a desktop valuation over a free web based valuation service? A: Yes! A CDC desktop valuation is performed by a real live licensed real estate appraiser who has experience in the local market and the subjectivity to select the most reliable comparable sales available which will yield the most accurate value range possible. Licensed appraisers are required to maintain a high level of knowledge in the valuation process through mandatory continuing education so they are up to date with current appraisal requirements. Most free web based services are computer driven without the ability to distinguish between a reliable (comparable) sales and a non-comparable sale. These Automated systems do not follow the typical appraisal process of valuation and consequently the end result is compromised. Q: What is the difference between an Appraisal and a Comparative Market Analysis (CMA)? A: Simply put, the difference is night and day. The CMA relies on vague market trends. The appraisal relies on specific, verifiable comparable sales. In addition, the appraisal looks at other factors like condition, location and construction costs. A CMA delivers a "ball park figure." An appraisal delivers a defensible and carefully documented opinion of value. The biggest difference, however, is the person creating the report. A CMA is created by a real estate agent who may or may not have a true grasp of the market or valuation concepts. The appraisal is created by a licensed, certified professional who has made a career out of valuing properties. Further, the appraiser is an independent voice, with no vested interest in the value of a home, unlike the real estate agent, whose income is tied to the value of the home and may generate additional buyers by obtaining your listing. Q: Can my lender use the desktop appraisal? A: Most lenders will require an appraisal with a more detailed scope of work for mortgage security. However, the opinion of value range provided by a licensed appraiser in the CDC desktop valuation can be used by your lender or realtor as a reference point. Did you know... CDC Consulting Services Inc network consists of over 50 appraisers and 10 appraisal firms.

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