Kern Valuation Services

Real Estate Appraisal Services for Bakersfield and Kern County

residential appraisal

Why choose an SRA designated appraiser?

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When it comes to real estate appraisals, especially for complex or high-stakes situations, choosing an SRA-designated appraiser can make all the difference. The SRA designation, awarded by the Appraisal Institute, signifies an appraiser’s advanced expertise in residential valuation, rigorous ethical standards, and a commitment to delivering the highest-quality assessments. Here’s why hiring an SRA-designated appraiser like Steve Magar can be one of the best choices for your real estate needs.

Proven Expertise in Complex Residential Appraisals

Achieving the SRA designation requires extensive education, practical experience, and mastery in residential valuation. Appraisers with the SRA designation don’t just meet basic state licensing standards—they go above and beyond, equipped with advanced skills to handle unique property types, historical homes, and homes with complex valuation needs. For any property that deviates from the standard cookie-cutter model, an SRA appraiser’s expertise is invaluable.

Unmatched Market Insight

An SRA-designated appraiser knows the local market inside and out, which is crucial for accurate and fair property valuations. For instance, appraisers like Steve Magar, who have years of experience in Kern County, understand not just market trends but the nuanced factors that can affect home values in specific neighborhoods. This local insight helps ensure that your property valuation reflects the true market dynamics at play.

A Commitment to Quality and Ethics

The Appraisal Institute upholds strict ethical guidelines for its SRA appraisers, which means you’re getting an appraiser committed to integrity, transparency, and fairness. SRA appraisers follow best practices in valuation methodologies, which gives clients peace of mind knowing they’re working with a professional who adheres to the industry’s highest standards. Whether for estate planning, tax assessments, or legal matters, an SRA appraiser’s dedication to accuracy and ethics can add a layer of security and confidence.

Comprehensive Approach with Evidence-Based Valuation and Data Analytics

An SRA appraiser brings a broad toolkit to the valuation process, including advanced analytical techniques and data-driven valuation practices. Appraisers like Steve Magar leverage data analytics and evidence-based valuation methods to extract market trends specific to each neighborhood. This provides clients with a clear, data-backed understanding of the property’s worth. This thorough approach to analysis means your valuation is backed by not only experience but also cutting-edge techniques for added accuracy and reliability.

Recognized and Respected by Legal and Financial Professionals

For attorneys, CPAs, and financial advisors, working with an SRA-designated appraiser offers a level of credibility and authority that’s widely respected in the industry. SRA appraisers are frequently called upon for expert witness testimony, complex estate valuations, and litigation support, thanks to their thorough understanding of property law and valuation principles. With an SRA appraiser, legal and financial professionals can feel confident they have a trusted expert on board.

In the world of real estate appraisals, experience and integrity are invaluable assets. Choosing an SRA-designated appraiser like Steve Magar means entrusting your valuation needs to a professional who’s not only highly trained but also deeply committed to delivering accurate, reliable results tailored to your unique situation. When the stakes are high, an SRA designation is more than a credential—it’s a mark of excellence you can depend on.

Using ‘Price Per Square Foot’ for Home Valuation – Debunking The Myth

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Tell me I’m wrong.

We like to make things faster and simpler – less traffic, shorter lines, instant messaging and even instant noodles.

Because of this, it is so nice for us to see an ‘all-in-one’ appraisal method used to find out property values. This is where the price per square foot method comes in.

It’s easy to recall and it’s easy to apply to many different kinds of properties. You can get this figure by dividing the selling price with the gross living area.

However, that is exactly why it should not be an approach to getting an accurate home appraisal. Pricing a home by the square foot overlooks everything from decorative lawns to high-tech kitchens.

You may hear a lot of opinions around this topic, but you can learn even more by reading between the lines.

Price per square foot seems to work if you consider factors like improvements, condition of the house, market expectations, diminishing returns, etc.

In other words, there really are many factors to look at and, therefore, no real magic formula that considers everything in one look.

To connect, as a licensed property appraiser, I personally shun this method since there are systems to valuation that need to be applied to come up with a reliable figure.

I’m sorry if I come out strong when talking about this. But when I hear the phrase ‘price per square foot’, my gut tells me to just correct the thinking of the person I am talking to.

What happens when ‘price per square foot’ is used in appraisals?

Here are a few points that make this approach impractical when used to find out property values:

  • When the smaller house in the example has at least one fixture that is more valuable, it will STILL less expensive.
  • The method does not account for premiums imposed when buying gross living area in excess of a specified limit.
  • High-performance housing may have desirable features that make them more valuable and increase the market value of a home. Using a generic figure like price per square foot may not work well at all.
  • Buyers may end up being deceived since features and amenities that can affect the actual gross living area are unaccounted for. This can even have negative tax implications since the value is not clearly backed by a feature of the house.
  • Offers are typically made in lump sums rather than price per square foot; this makes the method rather irrelevant in most cases.
  • Lastly, the appraisal method may be weak and prone to holes when used in legal disputes.

How are appraisals supposed to be done then?

Although there is no one true ‘best’ appraisal method, I believe standards make the process as smooth as possible.

In a guide I made, the appraisal process is detailed to show what homeowners should look at.

We typically use one or a combination of three methods to find out property values: sales comparison, cost, and income approaches.

Among other things, the guide emphasized how fixtures are overlooked. Appraisers look at these in detail so they can see the unique features of a house versus other similar ones in a neighborhood.

On top of that, it shows what you should look for in an appraiser so you know for sure you got a good one.

In conclusion, apart from having an overall neutral stance, this only means that the ‘best’ appraiser for you is the one who has principles that agree with you.

Can price per square foot be used for getting home value?

On the flipside though, pricing by the square foot may work for realtors when talking with buyers. So the answer is – yes, it can work for estimates, but no, not for formal appraisals.

Think about it. Buyers and realtors go through a lot before even talking about the market value of a home.

The buyer calls, the realtor does a follow-up call, the buyer looks for something else, the realtor gives more options, etc. This is may even be a ‘perfect’ scenario since the buyer calls first!

Anyway, that’s enough of that.

After all of those steps, going straight to business should be a high priority.

So, it only makes sense to use a quick fix such as price per square foot for purposes of discussing estimates.

After the realtor and the buyer agree on a house, then property appraiser enters the picture.

When it comes to valuing property, there are vast differences between how a realtor and how an appraiser does it.

This doesn’t condemn either of them in any way; there are simply vast differences between their roles.

Realtors need to come up with estimates so a prospective buyer can make certain decisions and property appraisers need to find out property values using proven methods.

Selling dozens to hundreds of houses lets realtors really know their house values. Jumping from one neighborhood to another just does that to you.

Having said this, it only makes sense that professionals can find out property values based on instinct. At least when it comes to estimates, anyway.

However, the final number presented to lenders and other parties require a more specific set of processes.

To this end, the price per square foot method just doesn’t cut it.

More and more factors increase the value of a house nowadays – ventilation, sustainability, interior design, solar systems, etc.

When you compare two identical houses using this method, things won’t add up.

As a result, the one with a larger gross living area will always be more expensive even when one of them has more of the features mentioned.

Conclusion

To this end, I wish I could give you a comprehensive home valuation calculator, but it just doesn’t work that way if you wish to get a real appraisal for buying or selling a house.

The supposedly convenient method may very well be a myth in the world of professional home appraisals.

There’s no need to worry though; appraisals don’t have to be complicated. Just look for licensed residential appraisers who are experts in their local area and you’ll be in good hands.

Have you tried a price per square foot appraisal that worked for you?

I’d be very much interested to hear your story. Feel free to shoot a message in the comments section below!

Meet our NEWEST Appraiser – Josh Hensley

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Meet our NEWEST Appraiser — Josh Hensley!

Steve and Josh have been working together for many years, and Josh officially joined the team in 2015 and has been diligently pursuing his appraisal license and gaining residential appraisal experience since that time.  Josh excels in the valuation of residential homes and new construction projects.  Congratulations Josh on a big accomplishment!”

Homeowners

Homeowners require an accurate appraisal report on which to base their financial decisions.

As an SRA designated appraiser, Steve Magar specializes in researching market trends and determining market value for all types of residential properties.

He is experienced at appraising everything from the basic tract home to the most complex high dollar luxury home and ranch type properties.

Need assistance valuing that energy efficient green home or multi-acre horse property we specialize in the complex assignments.

*Please be aware that if your appraisal is for a typical lending transaction, current financial regulations will require most lenders to order the appraisal directly from the appraisal firm. Aside from that, please call us to schedule any of the following services:

Pre-listing Appraisals for Homeowners

Do you have a complex property or have you recently completed significant renovations that require specialized appraisal knowledge?  We can help you accurately price your home at current market value to alleviate the threat of underpricing your home and leaving valuable dollars on the table, or overpricing and wasting precious marketing time due to unrealistic expectations.

For Sale By Owner (FSBO) Transactions

Also known as FSBO, For Sale by Owner transactions involve a homeowner who decides to take on the responsibility of selling a home without the involvement of an agent.

Whether you need to establish a contract price with a potential buyer or just need assistance in determining a reasonable asking price, we can help.

Kern Valuation Services can partner with you to provide an unbiased estimate of current market value to ease in the selling process.

Estate Valuation

When it comes time to establish value for that inherited estate, or investment portfolio, we are here to help.

We have years of experience partnering with CPA’s and attorneys to produce reliable estate valuation reports to assist with your financial planning needs and to properly document the current market value of your estate portfolio.

Tax Basis Valuation for Homeowners

Let us help you with your asset valuation as it relates to a real estate portfolio.  We can provide you and your accountant with reliable reports to establish a tax base, or to assist with IRS tax planning strategies.

We can help you produce reliable market based valuations for your accounting records.

Retrospective Appraisal

Also known as historical appraisals, we can assist you with past dated appraisals relative to:

  • Valuation for Legal or Partnership Disputes and Divorce Issues
  • Tax Valuation Services
  • Date of Death Valuation for Tax Basis and Inheritance Planning
  • Valuation of Gifted/Inheritance Property
  • Insurance Valuation for Property Damage by Fire or Flood
  • Legal issues as of a retrospective date

Family Transfers

Whether buying or selling property between family members, an appraisal can help record a reliable indication of market value and assist with the financial planning process.

With years of experience in all forms of residential appraisal valuation, we can assist you with your family transfer valuation needs.

Collateral Valuation for Homeowners

Do you need to utilize your home equity for collateral security?  From hard money lending to bail bond assurance, we can provide reliable appraisal reports with quick turnaround times to assist your valuation needs.

Call us today and we will be happy to discuss the best report option to meet your specific needs.

Valuation of Unique Properties

If you have that unique piece of real estate that is difficult to value, we can help.  As a SRA Designated appraiser, Steve Magar specializes in the appraisal of complex properties.

From exotic luxury homes to lakefront properties or energy efficient green and solar homes, we put in the time to properly document the complexities and provide the in-depth research and analysis required to produce a reliable, well-grounded appraisal report.

Give us a call and we’ll be happy to discuss your specific property type.

Land Valuation

Depending upon location, zoning and adjoining uses, land valuation can entail a complex highest and best use analysis.  Additionally, sales of comparable sites are often sparse and data is limited.

Let us put our multiple data sources and extensive market knowledge to work to assist with your buying or selling needs.

Accountants & Tax Professionals

CPA’s and Tax Professionals require well-documented appraisal reports to properly substantiate the market value of their clients’ estates.

With over 20 years of local appraisal experience, we are familiar with the nuances of the Kern County markets and provide detailed inspections and reliable appraisal opinions, resulting in credible reports for your accounting needs.

Services we provide include:

Retrospective Reports – also known as historical appraisal reports as of a past date of death, or significant date of value.  It can be utilized to determine a cost basis for tax and accounting purposes.

Estate Transfer – We can provide a valuation for single or multi-parcel estates relative to taxation, inheritance or other estate planning needs.

Portfolio Valuation – Institutional investors often prefer to engage the services of an independent expert appraiser, which allows them to report an unbiased value and add a layer of reliability to the valuation process.

If you are looking for ways to increase the credibility of your clients’ residential portfolio, Kern Valuation Services can offer a suite of appraisal services tailored to your specific needs.

Appraisal Management Companies

Valuation Services for Conventional Financing

With our full time office staff, your appraisal orders are prioritized and processed quickly, with immediate appointment booking and quick responses to client inquiries.  We strive to maintain clear communication and keep our clients well informed throughout the entire appraisal process. Services we provide include:

Conventional Financing

An appraisal for a conventional financed property is the most common appraisal report format.  With a commitment to continuous education and a focus on current market trends, our reports are compliant with changing regulations and reflect accurate market analysis.

With over 20 years of local appraisal experience, we are familiar with nuances of the Kern County markets and will provide a well-grounded appraisal report with in-depth analysis of neighborhood trends, a detailed on-site inspection and a thorough review of multiple data sources to provide you with a reliable report for lending purposes.

Our reports include a multi-stage in house review to simplify the appraisal process and minimize potential client revisions.

FHA Financing

As a longtime member of the HUD/FHA appraisal panel, we are well versed in the specific requirements and in-depth analysis required by our FHA clients.  Kern Valuation Services is committed to the continuous education required to stay on top of the most recent FHA changes and requirements.

In an attempt to better serve our FHA clients, we have compiled the following list of Most Common FHA Deficiencies.

FHA repair requests are required when deficiencies are noted during the on-site inspection process.  These repairs are clearly documented in our reports to protect the client’s financial interest and conform to the stringent requirements of the FHA guidelines.  We prioritize all FHA repair inspections with quick turnaround times to expedite the lending process and better serve our clients. *Please remember that the appraiser is not a licensed home inspector and the FHA appraisal is not a substitute for a home inspection report.

VA Financing

As an approved appraiser on the Veterans Administration Panel, we are proud to provide valuation services to assist our veterans with their lending needs.  VA appraisals typically require a more extensive on-site inspection than the typical conventional appraisal report.

This is why the VA panel only employs seasoned appraisers in good standing with local market knowledge.

Health and safety issues and VA minimum property requirements will be observed and summarized in the report.  When VA property deficiencies are noted, they are disclosed for repair.

*Please remember that the appraiser is not a licensed home inspector and the VA appraisal is not a substitute for a home inspection report.

Upon notice of repair completion, we prioritize all VA repair inspections to provide quick turnaround times and expedite the lending process.