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Are there standards that appraisers use to estimate the value of a Santa Barbara home or Montecito property?

appraisers estimate Home montecito Property santa barbara Standards value
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Are there standards that appraisers use to estimate the value of a Santa Barbara home or Montecito property?

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Appraisers use several factors when estimating a home’s value, including the home’s size and square footage, the condition of the home and neighborhood, comparable local sales, any pertinent historical information, sales performance and indices that forecast future value. For detailed information on appraisal standards, contact the Appraisal Institute at 875 N. Michigan Ave., Suite 2400, Chicago, IL 60611-1980; (312) 335-4458.

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