R.P.I. is a real property appraisal service, currently celebrating 35 plus years of continuous service. R.P.I. has only qualified, general certified appraisers associated with it. Our qualifications and experience allow us to complete all forms of appraisal cases, Commercial, Residential and Farm.
The majority of our cases are performed for residential homes for the purpose of real property loans, estate planning, estate settlements and liquidations, condemnation, divorce or other disputes involving residential properties. A large portion of our assignments are related to commercial appraisals, which range from large multi-family complexes, retail stores, warehouses, farms, land, etc. The appraisers at R.P.I. are prepared to present our appraisals for any related purpose [loans, litigation, tax grievance, etc.] in a summary form, narrative form, or Court form, and we are prepared to testify, if needed.

Some factors to consider:

If half of the homes on your street are for sale, that indicates an oversupply. If your home is the only home for sale in your area, that is an undersupply. Normally an oversupply of a product reduces the overall value, whereas a limited number of items usually tends to increase value. Remember the Cabbage Patch doll craze? The shortage of dolls caused prices to skyrocket. The same principle relates to real estate.

You often hear the phrase, "location, location, location" when talking about what helps determine the value of a property. Unfortunately, it's true. If you have a home in a good location, many more people are willing to locate there. The location increases the desirability of your home and therefore the value. If you live next to a "toxic waste area"-- a gas station, manufacturing facility, etc. -- the location can be considered inferior by many potential buyers and the demand less. The value, therefore, becomes less, as well.

The overall appeal of the property is also very important. This can be called the WELL FACTOR. If your home is WELL maintained, WELL decorated, WELL presented, WELL landscaped and therefore 'WELL'; well, somebody's apt to buy it. Your property must, in today's buyers' market, be well-presented in order to achieve success in marketing. The condition of the home cannot be emphasized enough. If the owners take no pride in their property, normally the appraisal will reflect it. If, on the other hand, the seller takes the time to prepare the home properly for marketing and the appraisal, the overall rating can go from average to good. I cannot stress enough the critical importance of properly maintaining your property.

Another factor is terms: Will the owner finance? Will the subject qualify for standard bank mortgages? Can it be financed through FHA and VA loans? If the property cannot finance, value is greatly limited, since the lender and government insurance mortgage programs have standards for every property. These standards must be met before a home can close.