Photo from Microsoft Office

Sellers call upon me to do an “appraisal” of their home; however, there is always real confusion as to who can do an appraisal.  Unfortunately, I am not a licensed appraiser and can’t do an appraisal.

As a Realtor®, what I can do is give you a competitive market analysis of your property.  In real estate terms that’s known as a CMA.

Do you know where the word “appraisal” actually comes from?  Property appraisals were considered to be an important function in Colonial America, although the number of independent opinions required to accomplish the job varied a great deal.  Juries of 12 men were appointed in Virginia in 1642 to appraise the value of disputed property.  To discharge debts of an imprisoned debtor, two “honest” persons were appointed to appraise the value of a debtor’s property.  One was appointed by the debtor and one by his creditor.  A single “apprizer” was appointed to appraise estates.  By the late 1600s, his established fee was 30 pounds of tobacco.

Copyright © 2008. Betty Jung.  All Rights Reserved.

(For more local and national real estate news, click on my monthly newsletter – JUNG’S JOURNAL – on my website www.bettyjung.com).