$175,000 - Pleasant Grove (84062)
This Rambler/Ranch Single Family home built in 1934 and has 3 bedroom(s), 2 bath(s), on .15 acres and 1,216 sq. ft.
BROUGHT TO YOU BY
LOAN RATES
Joel Ellowitz
MORTGAGE PLANNER
MORTGAGE PLANNER
| HELOAN | 8.250% APR |
| HELOC | 8.250% APR |
| 3/1 ARM | 5.250% APR |
| 5/1 ARM | 5.750% APR |
| 7/1 ARM | 6.000% APR |
| FHA/VA | 5.750% APR |
| 15 Year Fixed | 5.875% APR |
| 30 Year Fixed | 6.000% APR |
Updated 08.20.2008
FEATURED UTAH HOME
UTAH REAL ESTATE APPRAISALS
An appraisal is an estimated value of a property at a specific date, and supported by relevant data on the area and property. This value is determined by a licensed appraiser that has met all state requirements which include education, experience and certification.
Parts of an appraisal - Essential elements of an appraisal:
- Date: The appraiser only takes responsibility for the value on the date the report was created.
- Property Description: The exact property that was appraised must be identified in the appraisal.
- Estimate of Value: The appraiser is responsible to give a professional estimate of value. This is not a guess. The appraiser can be held liable if a reasonable value is not clearly identified in the appraisal.
- Signature of the Appraisal: The appraiser's signature verifies that they accept the liability and that the estimate is a "professional estimate of market value that can be relied on for decision making."
| Six Step Appraisal Process |
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| Define the Problem | Determine purpose of appraisal Identify interests (fee simple, etc.) Determine date of appraisal |
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| Conduct Survey | Determine personal needs, fee, and general information about the property | |||||
| Gather Data | Obtaining specific information about the property | |||||
| Classify Data | Market Data Approach |
Cost Approach |
Income Approach |
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| Reconcile Data | Reconcile the data from the three approaches to determine a final estimate of value | |||||
| Issue Report | Write the Report | |||||
| Letter Report |
Short Form or Checklist |
Narrative Report |
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There is one main report that is used by most appraisers in Utah:
Universal Residential Appraisal Report: This document is usually several pages long. It consists of a write-up on the property with photos, several comparable sold listings, location maps, and an estimated value.
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