High Value “Luxury” Property Appraisals

Although many of the same principles and tools required for appraising standard residential properties apply to those required for appraising luxury, or high-value properties, there are distinctions between the approach and the extent of the final report for each type of property.

A luxury home appraisal is complex and involves, requiring a level of skill, knowledge, and competency beyond that required for appraising standard residential properties. More time in research and analysis is required for preparing a competent and accurate valuation for properties possessing unique characteristics such as location, distinctive architectural or finish qualities and materials, unusually large living area, or view amenities leading to a higher market value.

The appraiser involved in valuing a high-value or luxury property must be experienced in the particular geographic location and market, and aware of the unique complexities of the luxury market and the buyer’s particular priorities.  In addition, the appraiser must spend additional time in locating comparable sales for the Sales Comparison Analysis, as many luxury home sales are not recorded in the area Multiple Listing Services and must be researched carefully.

Jonathan Asker has appraised high-value homes in Massachusetts and Rhode Island for over 40 years. He has deep experience in coastal properties, with a local understanding of the nuance between coastal communities and even their locations within these communities.

When you have a high-value or luxury home that requires valuation, Jonathan Asker will be able to talk with you about the particular situation and needs that you are facing, then assess the specific report required, answer your questions and provide expert service for completion of the report.  Call Jonathan at 508.559.0444 or email him at office@naacc.com to start the conversation.