Professional Real Estate Appraisals since 1978
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Address: P.O. Box 572 Olympia, WA. 98507 Phone: 360-491-7566 Fax: 360-491-7602 Email: Woodworthappraisal@comcast.net Serving: Thurston, Lewis, Pierce and Mason County; Washington State |
WOODWORTHAPPRAISAL provides the highest level of customer service. We pride ourselves on our professionalism and appraisal knowledge, and Quality of work. It is our policy to start the Appraisal process within 2 working days of an approved order. We provide status reports and deliver a good solid Appraisal.
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An appraisal is an opinion of value or the act or process of estimating value. This opinion or estimate is derived by using the three common approaches,
all derived from the market. They are:
Then, after thorough analysis of all general and specific data gathered from the market, a final estimate or opinion of value is correlated.
- 1. Cost Approach to value is what it would cost to replace or reproduce the improvements as of the date of the appraisal, less the Physical Deterioration, the Functional Obsolescence and the Economic Obsolescence. The remainder is added to the Land Value.
- 2. Comparison Approach to value makes use of other "bench mark" properties of similar size, quality and location that have recently sold. A comparison is made to the subject property.
- 3. Income Approach to value is of primary importance in ascertaining the value of income producing properties, has little weight in residential type properties. This approach provides an objective estimate of what a prudent investor would pay based upon the net income the property produces.
SPECIALTIES
- Residential Housing (FHA, VA, Conventional]
- Commercial
- Relocation Appraisals
- Private Mortgage Insurance [PMI]
- Electronic Communications
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P.O. Box 572
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