Seven Residential Appraisal Myths That Cause Bad Decisions

Short answer: Correct common appraisal myths about assessed value, renovation cost, online estimates, inspections, effective dates and guaranteed outcomes.

Myth 1: assessed value is market value

An assessor’s value serves the property-tax system and may use a different date and process from a private appraisal. The figures can match, but one should not be substituted for the other without understanding the assignment.

Myth 2: renovation cost equals added value

Market contribution depends on buyer reaction, quality, condition and alternatives. A $100,000 project does not automatically add $100,000. Provide dates, plans and costs as evidence, not as a required adjustment.

Myth 3: an online estimate is an appraisal

Automated estimates can be useful screening tools, but they may not know condition, legal characteristics or the intended value date. A scoped appraisal includes property-specific research and professional judgment.

Myth 4: the inspection is a home inspection

An appraisal inspection supports valuation under the agreed scope. It is not a comprehensive structural, environmental or systems inspection and does not certify concealed conditions.

Myth 5: every appraisal uses today’s date

Retrospective assignments address a specified past date. Report delivery and inspection can occur later. Historical photographs, listings, permits and repair records can be important when condition has changed.

Myths 6 and 7: the highest credential or report guarantees the outcome

Choose a credential and experience appropriate to the property and use. No credential guarantees a requested number, lender approval, tax reduction, court acceptance or agreement between parties. Send the address, purpose, users, date and deadline for a scoped quote.

Call 425-753-1971 or email dustin.labrasseur@gmail.com.

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Revised October 8, 2026.