Finding hidden values in your home / Wallace Kaufman

Includes index.

Part 1. Value and Ownership -- Part II. Making the Appraisal -- Part 3. Using the Appraisal.

When I appraise a home, it should not make any difference to me who sleeps in the bedrooms or eats in the kitchen- a doctor, a lawyer, an Indian chief, or a gorilla. I'm supposed to answer one question: What is the value of this home? I have never appraised a home yet, however, without feeling that in some way I was also judging the lives of the people who lived in it. If nobody else asks me, I am going to ask myself: Did these people get a bargain? Did they get snookered? Did the owners ruin the value of the home? Did they find its hidden values and enjoy them? Are there hidden values someone is going to enjoy uncovering? Say what we will, a home is a unique combination of investment and hope. For almost a half century, realtors have assured us that buying a home would satisfy both our hearts and our bank accounts. " home is the best investment you'll ever make." Well, as we all know, the times they are a-changing. A house can be your best in-vestment, but only if you buy carefully, live in it wisely, and sell it intelligently. Every time I appraise a home, my report is a judgment on how well that home satisfies the hearts and the bank accounts of the people who make a market for homes. Along the way I find out a lot of interesting things about houses, people, and economics. Whether you own a home for profit, pleasure, or both, learning to look at a home the way an appraiser does will eliminate a lot of risk in this huge investment. You can replace the risk with intelligent decisions about buying, remodeling, and selling. Plato said an unexamined life is not worth living. Certainly an un-appraised home is not worth owning. A well-appraised home fulfills the American Dream.