My New Blog

Real Estate Inheritance of a Home, requires the property to be Appraised by an Independent Appraiser to value the home as of Date of Death of a Decedent or the current Market Value to distribute a property value to the heirs. 

Sometimes heirs forget to reappraise a property after a death in the family and surviving spouse does need to have the property reappraised for local county taxation.

 As an appraiser, sometimes I have to value what a property was worth up to twenty years ago to assist homeowners and heirs that may have forgotten to update an estate when someone has passed.

 Or the property is appraised in the current market for heirs to figure out what to do with the property. Some properties are sold and the proceeds are divided among the heirs other times these inherited properties can become excellent rental income properties with positive cash flow if free and clear of a mortgage.

Local rents in many places have increased exponentially over the years, so the Highest and Best Use of the property needs to be determined to help heirs make a good decision with these properties with respect to monthly rental income or as a list sale price for the real estate market.

My appraisal reports include MLS Sales Data which is downloaded from the MLS and exported into 8-11 Statistical Charts and Scatter Graphs to show Market Conditions whether in a Retrospective Appraisal Report or in a Current Market Report.

Areas covered include Santa Cruz County, San Jose, Santa Clara and Monterey Counties.

I am available to answer the questions you may have. Just give me a call to discuss your property. 

Tom Melville , MRA, MNAA
California Certified Residential Appraiser
California Real Estate Broker Owner
AR012768, DRE 00774101
Aptos, Ca 95003
831-883-0406