What is the average yearly appraisal rate?

Asked by Manuel Lopez, 46062 Fri Sep 28, 2007

What is the average yearly appraisal rate for a single famility house, 2baths,3br,2car garage, 1/3 acre lot, 1995 sq ft, built in the 60s. Location 46062. If this house was valued at 165,000 in Oct 2004. What will be the value today

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Julianne Jae…, Agent, Noblesville, IN
Wed Jul 28, 2010
Appreciation is about 2-3% in Noblesville. Hamilton County as a whole has maintained values better than the national average. To get a true value, however, you have to consider the condition of the house, the neighborhood and the current inventory. If you are just curious, you can use the averages, if you want a more accurate answer, ask a real estate agent to do a market analysis for you. It is free!
1 vote
Kristie Smith, Agent, Indianapolis, IN
Wed Mar 12, 2008
Noblesville has appreciated about 2.5% per year since 2004 -- with no increase in 2007. However, with an older home, it's dependent upon upgrades. So, if you have done a nice kitchen or bath remodel, you will achieve about 70-80% on your investment dollar. If, however, the house still has the 1960's green kitchen, then the appreication might be even less.

The best thing is to have a real estate agent give you an onsite appriasal of your home. It's free and very accurate.

Let me know if you have any questions or if I can help!

Kristie Smith
Relocation Director
ERA Real Estate Links
Web Reference:  http://www.IndyHomes.com
1 vote
Eric Karrfalt, Agent, Noblesville, IN
Thu Mar 6, 2008
A good rule of thumb around here, I'm in 46060, is that appreciation kept pace with inflation. 3-4% appreciation annually. This year, on average, we saw home values drop. Now there are some communities that have done well so this drop was not across the board. I would say if you are selling and competing in the price range of repos for your area, you have lost some value. Value is always market driven. What will you accept and what will a seller pay, today. Value is not your appraisel, or what you paid for it plus your improvements, or what the home sold for down the street. These are good tools to help estimate value, but at the end of the day, it's what someone is willing and can pay, and what you will accept. You need to consider all the additional market forces as well such as interest rates, finance availability, home inventory on the market, etc. These affect home values as well.
0 votes
Brian Burke, Agent, Highlands Ranch, CO
Fri Sep 28, 2007
where is the home located??
Web Reference:  http://kennaandco.com
0 votes
Pam Winterba…, Agent, Danville, VA
Fri Sep 28, 2007
Are you asking for the yearly appreciation rate? Or the cost of an apraisal?

Appreciation varies from area to area and year to year.
0 votes
Casey Wyatt, , Amarillo, Canyon and Bushland
Fri Sep 28, 2007
Manuel it really depends on what part of the country you are living in and what your market is like. Where I am a Realtor in Texas there is a appreciation rate anywhere from 3 to 7 percent per year. You s/b able to call you local association of Realtor and they s/b able to relay some information in regards to your questions.
0 votes
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