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Your Trusted Guide in Real Estate Appraisals.

SERVICES

Leading Appraisal Provider

NorthStar Appraisal Solutions provides the highest level of service and accuracy when it comes to residential real estate appraisals. Our experienced team of licensed appraisers is committed to having profound knowledge of the real estate markets in which we service.

We currently cover Cuyahoga, Lorain, and Medina County.  Our services include: home purchase, mortgage refinance, estate planning, divorce, property tax disputes, etc.  If you have a question regarding the value of your home, we have the answer!

Home Purchase

Mortgage Refinance

Estate Planning

Divorce Settlement

Property Tax Disputes

Employee Relocation

About

NorthStar Appraisal Solutions

NorthStar Appraisal Solutions is dedicated to providing accurate, reliable, and timely real estate appraisal services.  Integrity is the foundation our company, and an unbiased appraisal process is at the core of our mission.  We strive to be a trusted source of valuable information to each and every client in need of real estate appraisal services.

We strive to be a trusted source of valuable information to each and every client in need of real estate appraisal services.

FAQ

Frequently Asked Questions

Throughout the years in the real estate appraisal business, there is little we have not come across. Below are a few of the most frequently asked questions we receive.

What is an appraisal?

A home appraisal is an unbiased opinion on the fair market value of a parcel of real estate, performed by a trained and licensed individual. A home appraisal may be required for various real estate transactions when the value of the home is in question. Having a trusted and unbiased opinion of value provided to you by a licensed appraiser is the best resource when it comes to the value of your home. The steps taken to a proper and accurate real estate appraisal include:

  1. Identification of the Problem
  2. Scope of Work Determination
  3. Data Collection and Property Description
  4. Data Analysis
  5. Site Value Opinion
  6. Application of the Approaches to Value (Cost, Income, and Sales Comparison)
  7. Reconciliation of Value Indications and Final Opinion of Value
  8. Report of Defined Value
What is the definition of Market Value?
Market value is stated as the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus.

Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

  1. Buyer and seller are typically motivated.
  2. Both parties are well informed or well advised and acting in what they consider their own best interests.
  3. A reasonable time is allowed for exposure in the open market.
  4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto.
  5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
Market Value Vs Market Price?
Market price is best described as the price that has been agreed upon between a willing buyer and a willing seller. Market price is often referred to as the contract or purchase price in a real estate transaction.

Market value is best described as an opinion of value based on reliable value indicators. Market value reflects the most probable price a property could bring in an open market with no outside influences present.

It is important to note that real estate markets are an imperfect world. Therefore, market price and market value are not always one in the same.

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