An appraisal is an estimate of the value of a property. An estimate of the value of the property generally refers to its fair market value. The purpose and use of appraisals include transfer of ownership, financing and credit, taxation, condemnation, insurance and many others. An appraiser is typically a state-licensed individual trained to render expert opinions concerning property values.

Authorized by Congress, The Appraisal Foundation sets minimum standards for licensed appraisers. The Foundation is the parent organization of the Appraiser Qualifications Board (AQB). States are required to implement appraiser certification requirements, which are at least as rigorous as those issued by the AQB.Certified General Appraiser and Certified Residential Appraiser.

The AQB has issued criteria for the Certified General Appraiser and Certified Residential Appraiser. Each has education, experience, examination and continuing education requirements. Consider working with either a Certified General or Certified Residential Appraiser.
The appraiser considers three approaches to value when arriving at an opinion: sales comparison approaches (formerly the market data comparison approach), cost approach and income capitalization approach. When evaluating single-family, owner-occupied properties, the sales comparison approach is most heavily weighted by an appraiser. This approach compares the subject property with other similar properties in the vicinity, which have sold or are for sale. Real estate professionals also rely heavily on this approach.

Cape Cod and Cape Ann Colonial  Usually small with symmetrical windows found on both sides of the front door. These one or one and one-half story homes are usually small. The wood shingle roof is steep gambrel or gable. The exterior is usually wood.

New England Colonial This square or rectangular structure maximizes usable space. It has symmetrical windows on both sides of the front door. This two or two and one-half story home has a wood shingle, gable roof; wood exterior.

Dutch Colonial  This home has a stone exterior and a relatively narrow width (50 ft. wide +/-). Its height is either one and one-half or two and one-half stories with a gambrel roof, dormer windows, and a symmetrical front with the front door in the center.

Georgian and Southern Colonial   A large home requiring a large plot of land. This brick or wood home is symmetrical, has a gabled roof, elaborate front entrance with columns.

English Elizabethan  Requiring a relatively large plot of land, this home has gothic lines and is constructed of brick, stucco or stone. The home has molded stone around the windows and doors. The steep roof is covered with slate or shingle. Leaded metal casement windows are the norm.

English Half-Timber  Requiring a large lot, this home has stucco between protruding timber faces. Most often a two-story home with a steep pitched roof; heavy masonry composing the first story.

Regency  Below a low hipped roof, a centered, octagonal window on the second floor can be found. The front entrance is centered; shutters frame the windows, exterior of brick or stone.

French Provincial  This large, one and one-half or two-story home is found on a large lot. The house has large, tall windows with shutters, masonry exterior and very high roof.

French Normandy  This unsymmetrical home often has turrets at the entrance, steep pitched shingle roof and exterior of brick or stone.

True Spanish  This home has stucco walls (light color) red mission tiled roof, wrought iron decorations with enclosed patios.

Small California Spanish  This one story house has a flat roof with mission tile trim in front. The exterior is stucco; no patio and is well suited for a small lot.

Monterey Spanish  This light colored, stucco, two stories home has a red mission tiled roof, decorative iron railing and second story balconies.

Modern and Contemporary  This home has a low pitched or flat roof; concrete slab or perimeter foundation; lots of glass, usually one story and is designed for indoor and outdoor living.

California Bungalow or Ranch House  This one story, stucco house has wood trim; concrete slab or perimeter foundation; shake or shingle roof; not symmetrical; often with an attached garage.

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