Single Family Home

Single family home appraisals use Fannie Mae Form 1004 with primary weight on the sales comparison approach. The appraiser identifies 3–6 recent comparable sales, applies adjustments for differences (size, condition, features, location, time of sale), and reconciles the adjusted comparables to a final value indication. The cost approach (replacement cost minus depreciation plus land) is included as a check.

Comps are selected based on: proximity (same neighborhood preferred, then adjacent), recency (typically 90 days or less, sometimes longer in slow markets), similarity (size, age, style, configuration), and market segment (same buyer pool). The appraiser explains why each comp was selected and how adjustments support the final value. Inappropriate comp selection is one of the most common appraisal errors.

Common adjustments include: size differences (per square foot of GLA), bedroom and bathroom count, lot size, condition (new, average, fair, poor), quality of construction, view, garage capacity, pool, ADU, and time of sale (for market trend). Adjustments must be supported by market evidence — paired sales analysis when possible, otherwise market data on contributory value.

Unique features (custom kitchens, premium materials, smart home systems, view, pool, ADU) typically add value, but rarely dollar-for-dollar with their installation cost. The market values amenities based on what comparable homes have, what buyers will pay, and how the amenity affects the buyer pool. We analyze each meaningful feature’s contributory value with market evidence.

Even similar homes can appraise differently due to: condition (one updated, the other dated), size differences, lot size or shape, view orientation, specific improvements (kitchen, bath, ADU), market timing (one sold during a peak), and unique characteristics. The appraisal explains the comp adjustments that account for these differences, producing a value specific to your home in current market conditions.