My New Blog

Inherited Homes are quite a gift in the real estate market today. These homes can be a great source on income for rental purposes when there is little or no mortgage. Other options include moving in or just selling the property to distribute the proceeds to additional heirs. 

Online there are several companies that just want the heirs to just sell them the property below market without the assistance of a real estate professional. Rather than to accept a quick low ball offer, it pays to have an experienced certified appraiser to value the property in its present condition. Then the heirs can be able to make an informed decision to go forward to either move in, rent the property for extra income or sell the property to the highest bidder.

My services have helped heirs of inherited homes receive two to three hundred thousand dollars more in a sale than to accept offers by only one bidder and I have testimonials to support the quality of my work.

I also provide Retroactive Appraisals for a valuation up to 20 years in the past with statistics and charts and graphs of the economy, also Expert Witness court testimony, Consulting and Real Estate Brokerage of these type of properties. 

If you have any real estate questions or concerns, give me a call to discuss ideas to move forward in a relaxed conversation that will be to your financial benefit.

Regards

Tom Melville MRA, MNAA Certified Residential Appraiser, Calif Real Estate Broker Owner, Expert Witness and Consultant. Licensed professional in California since 1980 to the present.

Aptos Ca 95003
AR012768
Dre 00774101
831-883-0406

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