In theory, all markets are driven by economic fundamentals, and if we assume that our open market economy will remain intact following the “recession of 2008″ and the possible depression that may follow, the same basic economic theories and principals that have applied to the appraisal profession in the past (supply and demand, substitution, balance and externalities) will continue to apply to it in the future.

Professional appra

Property appraisal or property valuation is the process of determining the value of the property on the basis of the highest and the best use of real property (which basically translates into determining the fair market value of the property). The person who performs this property appraisal exercise is called the property appraiser or property valuation surveyor. The value as determined by property appraisal is the fair market value. The property

Why is a Property Appraiser Important to the Home Buying Process?

It doesn’t matter what part of the home buying process you are a part of — the buyer or the seller — a real estate appraiser is important to you and necessary to the home transaction. An impartial appraiser will come in and check out the home and property and come up with true value. The appraiser does this in order to protect the seller, buyer and lender