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Many appraisals requested are "as is" appraisals. The value is given to a property in its current condition. There are many times when an after repair value is requested. This is common with investors who are seeking to purchase homes, remodel them and resell in hopes of making a profit. Sometimes the investor may spend more than what the market is willing to pay for a remodeled home. A home can be over-improved and unneccesary money spent on improvements that give little or no return. Kitchens and bathrooms are a common improvement in today's market. However, an updated kitchen or bathroom may be expected in the subject's market area and no additional value is given. Sometimes, an after-repair value is requested just to determine what additional value will be gained if remodeled. Some neighborhoods have a big return while some areas its not feasible. I did read that siding was on the top ten of improvements that was feasible and brought back a return. With the oversupply of homes in the market area it is important to be competitive. An appraiser can appraise your property based on the hypothetical condition your property has been totally remodeled. This can sometimes save you alot of money in a long run. The cost of an appraisal is more feasible than spending alot of money on improvements you thought was going to bring you a bigger return or any return at all.

Sincerely,

Kara Sedlak