Maintaining Your Homes' Appraisal Value!

With mortgage rates at an all-time low, it is not uncommon for homeowners to consider refinancing their home. One of the biggest concerns some homeowners have during this real estate market, however, is keeping the appraisal value of their home high. Read on for a few tips to help maintain your home's high appraisal value.

1. Before your appraisal is ordered, ask your lender to request an appraiser who is from your county. Also request an appraiser that is certified and has a professional designation such as a Senior Residential Appraiser from the Appraisal Institute (SRA) or a Member of the Appraisal Institute (MAI).
   
2. One of the first things to do as a homeowner when you are facing an appraisal on your home is to be knowledgeable. Ask your realtor for comparable sales in your area. Also, take the time to visit some of the open houses in your area. With this pricing information you should have a good idea of your home's value.
   
3. Don't be afraid to let the appraiser know that you have seen comparables to your home. Also be willing to confront the appraiser if he overlooks important facts and features of your home.
   
4. If the appraisal is low, don't be afraid to question the appraiser. Sometimes they can overlook important information that will affect the value of your home.

Although you cannot control the value the appraiser will place on your home, with the right knowledge and preparation you can help prevent a low appraisal during this struggling real estate market.

To buy or sell your Broken Arrow, OK area home, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

To Read More on this subject, check out the original articles "Keeping Home Appraisal Values Up" in the Tulsa World and "How to Avoid a Low Home Appraisal" from Bankrate.com.