Nancy Guzman is an Expert Realtor for the Metro Denver Colorado area, who can help you decide where to live.  Because, Nancy understands finding your special place means taking in many factors that include accessibility to work, education and recreational activities.  It also includes the size and style of your home, the style of the neighborhood that will make you feel more at home.  All of these factors must come together to make your new Metro Denver Colorado home, feel like home.

HOME APPRAISAL INFORMATION FOR METRO DENVER COLORADO

What to expect when your home is being appraised.

Second, for the next several hours you may see our appraiser driving up and down the streets of your neighborhood.

We will be searching your neighborhood for homes that are similar to yours in location, size, design, number of rooms and extra features. We call these homes "Comps" or "Comparable Sales." Our appraiser makes dollar adjustments to reflect differences in "Comp" properties. Upgrades like fireplaces, air conditioners, recent decorating or home improvements add value to a property.

Finally, we are ready to prepare our report and submit it to your loan officer. At that time, your mortgage company will be contacting you with the results.

Our appraisers are friendly, courteous and interested in providing any information you may need. Ethically, we have a client relationship with your lender. All of our communication must go through your loan officer. However, feel free to ask questions while we are in your home.

Guide to Home Improvements

Many appraisers decline to answer questions on the value of particular home improvements because each situation is unique and no information should be regarded as a guarantee. We are Forsythe Appraisals, Inc., as a service to you, would like to offer our opinion on the cost effectiveness of a few of the more common improvements, as seen through the eyes of an appraiser. These are general guidelines only.

As a homeowner, you will want to make whatever changes are necessary to enhance the enjoyment of the home for you and your family, but be aware that the cost of the improvement will often not be totally recaptured in an appraisal or sale of your home.

Typically, neutral decorating (new carpet, paint, wallpaper, etc.) is money well spent. Larger improvements, such as additions and four-season porches, must be considered on a case-by-case basis. Be sure to take a look at your neighborhood when planning changes and try to keep improvements in line with other properties in the area.

The following guidelines are rough estimates based on Forsythe's 50 years of experience. Only a complete home appraisal can tell the value of such improvements on your particular home.

These guidelines are based on a 20-year-old home with a value of $100,000.00.

12 Most Common FHA Repairs

The purpose of a repair is to correct deficiencies which may affect the health and safety of the occupants or the continued marketability of the property. If possible, we suggest that you make any repairs to your home prior to the appraisal. This will improve the marketability and help the sale or refinance of your home go smoothly.

1. If the home was built prior to 1978, chipping, peeling paint must be scraped and painted. this includes interior, exterior, garages, sheds, fences, etc.
2. Roof should have 2-3 years of useful life remaining and no more than 2 layers of shingles. If the home is over 10 years old, you must remove snow from a large portion of the roof for inspection by the appraiser.
3. Broken windows should be replaced.
4. The cause of Wet basements should be cured (i.e., improve drainage away from house, gutters, etc.).
5. Electric service must be 60 amp or greater. Electric certification may be required if 60 amp appears to be overloaded (i.e., larger than 1000 sq. feet with many major electrical appliances).
6. Abandoned inoperable wells must be capped and sealed by a licensed well sealing contractor.
7. Safety handrails should be installed in open stairwells of three or more stairs.
8. Infestation of any kind should be exterminated (i.e., insects, mice, bats, etc.).
9. Damaged or inoperable plumbing, electric and heating systems should be repaired. The appraiser will check these areas.
10. Structural or foundation problems must be repaired.
11. Flammable storage tanks must be removed and filler cap sealed from the inside (i.e., buried oil tank).
12. If there is a crawl space, it will be the homeowner's responsibility to make this area accessible so that it can be thoroughly inspected.

Glossary of Home Appraisal Terms;

A

AMPERE (AMP):

A unit measure of electricity.

APERATURE:

The opening in pipes.

ASBESTOS:

A naturally occurring mineral fiber sometimes found in older homes. It is hazardous to health when a possibility exists of exposure to inhalable fibers. Homeowners should be alert for friable asbestos and always seek professional advice in dealing with it.

AWNING WINDOWS

A window with hinges at the top allowing it to open out and up.

B

BASEBOARD:

Usually wood or vinyl installed around the perimeter of a room to cover the space where the wall and floor meet.

BASEBOARD HEAT:

A heating system with the heating unit located along the perimeter of the wall where the baseboard would be. It can be either an electric or hot water system.

BREAKER BOX:

A metal box that contains circuit breakers or fuses that control the electrical current in the home.

BUILDING CODE:

Minimum local or state regulations established to protect public health and safety. They apply to building design, construction, rehabilitation, repair, materials, occupancy and use.

BUCKLING:

The bending of a building material as a result of wear and tear or contact with a substance such as water.

C

CASEMENT WINDOWS:

A side­hinged window that opens on hinges secured to the side of the window frame.

CAULKING:

Material used to fill joints that may exist between floors and fixtures; around windows and doors, shower stalls and bathtubs, etc.

CIRCUIT BREAKER:

The safety valves for electrical systems. It interrupts an electric circuit when an unusual condition arises such as lightning and malfunctioning appliances. Unlike a fuse, it can be reset.

CLASS B DOOR:

A fire resistant rating applied by the Underwriters Laboratories Classification for a door having a 1 to 1 1/2­hour rating.

CPVC:

Plastic water piping.

CRAWL SPACE:

Shallow space between the underside of the first floor of a house and the ground.

CUTOFF VALVES:

Valves used to shut water off, generally located under sinks or behind bathtub and shower access panels. They cutoff hot and/or cold water at the source without cutting all water off throughout the house.

D

DAMPER:

An air valve that regulates the flow of air inside the flue of a furnace or fireplace.

DISPOSER:

A device that grinds food sufficiently to enter drains for disposal without clogging.

DORMER:

A converted attic with windows projecting through a sloping roof.

DOUBLE­HUNG WINDOW:

A window with sashes that slide vertically and allow opening from the top and bottom.

DRYWALL:

A gypsum board material used for walls or ceilings.

DUCTWORK:

A system of distribution channels used to transmit heated or cooled air from a central system (HVAC) throughout a home.

E

EAVES:

The section of the roof that overhangs the walls of a house.

EXHAUST FAN:

Extracts air or excess heat from the interior of a home.

F

FLASHING:

Sheet metal used at wall and roof junctions and around chimneys to prevent water entry.

FLUE:

An enclosed chamber in a fireplace that directs flames, smoke and other gases to the outside air.

FOOTINGS:

Concrete set in the soil (foundation bed) that support the foundation of the house.

FORCED­AIR FURNACE:

A unit that transfers heat from fuel and circulates heat throughout the ducts of a house.

FOUNDATION:

The part of the structure upon which all other construction is built.

FUSE BOX:

A metal box that contains the fuses that regulate electric current in a house.

G

GROUND­FAULT INTERRUPTER (GFI):

A safety device that interrupts surges of electricity in appliances and other electrical components found in a home.

GUTTER/DOWNSPOUT:

Channel of various materials including plastic and copper supported at the eaves to direct water away from the foundation of a home through downspouts.

H

HEARTH:

The fireproof surface of a fireplace, usually 18 inches wide.

HEAT EXCHANGER:

A device used to transfer heat in a furnace.

HEAT PUMP:

A reverse cycle refrigeration unit that both heats and cools.

HOT WATER HEATING SYSTEM:

This system heats water to boiling in a water heater, and a circulator pumps it through a system of pipes.

HVAC:

Heating, ventilating and air conditioning system.

I

INSULATION:

Material used to resist the loss of heat energy. Materials such as fiber glass, mineral wool, cellulose and foam are placed in the walls, ceilings, basements and crawl spaces. Insulation may be blown or installed in batt sections.

J

JOISTS:

Horizontal timbers, beams or bars supporting a floor.

L

LATHING:

Strips of wood or other material used as a base for the installation of plaster.

LEAD:

A material used in pipes and paint of many older homes. We now know that lead is hazardous to health. The local environmental protection agency should be consulted for guidelines on handling, removal and applicable laws.

M

MASONRY:

Construction using materials such as tile, brick, cement, stone or similar materials.

MEMBER:

Wood or steel elements that make up the framing and foundation of a structure such as 2 X 4 strips of lumber cut to various lengths.

MORTAR:

A bonding material used in the construction of brick or stone structures.

MOULDING:

Strips of wood or the material used to cover joints between floors and walls, and walls and ceilings.

P

PARAPET WALL:

A low wall or railing along the edge of a roof, balcony, bridge or terrace constructed for protection, to control water resulting from rain or artificial flooding or to insulate against the sun's rays.

PARQUET FLOORS:

A floor that is laid in rectangular or square patterns often made of prefinished wood or wood veneer squares.

POINTING UP:

The removal of deteriorated mortar between bricks and replacement with new mortar.

POLYBUTYLENE:

Water piping used for interior piping and the main waterline to the street. Problems with this pipe have curtailed its use.

PROFESSIONAL INSPECTION:

An inspection performed by a specially trained inspector to provide a comprehensive report on the condition of a house. This report is usually written and is often used in home sale negotiations.

R

R­VALUE:

A measurement of the ability of insulation to slow the transfer of heat or cold. The higher the R­value, the greater the insulation power.

RADIANT HEATING SYSTEM:

An electrical heating system that distributes heat through cables installed usually in baseboard panels.

RADON:

A colorless, odorless gas that is emitted from soils, rocks and water as a result of radioactive decay in certain areas of the country. Radon is known to cause cancer. Homes should be tested for radon. The local environmental agency should be consulted on its handling, removal and any applicable laws.

RAFTER:

The structural member or beam that supports the roof. It spans from the exterior wall to the ridge board of the peak of the roof.

REGISTERS:

Help to regulate the flow of air.

RETAINING WALL:

A vertical structure used to restrict the movement of soil or water.

S

SASH:

Framework that holds the glass in a window or a door.

SETTLING:

The lowering of elevation of a house or pavement due to weight or shrinkage.

SHINGLE:

Sheets of waterproof material used to cover the roofs of homes and other surfaces.

SIDING:

Finish material such as wood, vinyl and aluminum used on outside walls.

SILL:

The lowest piece upon which a window or exterior door rests, usually slanted downward slightly to provide for rain water runoff.

SLAB:

A concrete foundation or floor of a home. Houses built on slab usually do not have basements.

SOFFIT:

The underside part of a roof that extends beyond the outside walls of a structure.

SOLAR HEAT:

Heat created from the gathering of solar energy from the sun. It can be passive or active. A positive system takes advantage of winter sunlight through windows on the south side of a home. An active system heats through the collection of solar energy through solar collectors.

SUMP PUMP:

An electric pump, usually installed in the basement to prevent water from entering the basement area. It empties water from a "well or pit" where it is collected and pumps it to the outside of a home.

T

THERMOSTAT:

Helps to control temperatures within the home. Thermostats automatically turn heating or air conditioning on or off as necessary to maintain a desired temperature.

THRESHOLD:

A strip of metal, wood, marble or other material placed at the base of a door.

U

UREA FORMALDEHYDE FOAM INSULATION:

A type of foamed­in-place insulation that releases formaldehyde gas. It was banned by the Consumer Public Safety Commission in 1982 from use in residences and schools. Holding that the risks had not been proven, a Federal Court lifted the ban in 1983. The local consumer and/or environmental protection agency should be consulted for additional information on this type of insulation.

W

WEATHER -STRIPPING:

Made of various materials used to reduce the escape of heat or air conditioning from a home. It is usually installed around windows and doors.

WINDOW WELL:

The open subsurface space that provides light through a basement window.

Z

ZONE:

A system that allows different temperatures in various parts of a structure.