Cell: (602) 524-3737
There's much to see here so please take your time, look around, and learn all there is to know about
HomeSage Appraisals, LLC. I hope you enjoy my site and will take a moment to drop me a line.
My name is Dave Saturno and I am a Certified Residential Appraiser with decades of experience in the real estate appraisal business. My experience includes appraising new construction, high-end luxury residential properties, first-time homebuyer properties, condos, multi-plexes, Geminis, and vacant land. I provide my services to buyers and sellers, as well as, accountants, attorneys, bankers, builders, estate planners and realtors.
I've lived in the Phoenix area most of my life, and for the past 20- plus years I've been a resident of Fountain Hills. I'm knowledgeable in real estate values in Fountain Hills, Scottsdale, Carefree, Cave Creek, Rio Verde, Tonto Verde and the East Valley. I want to be your hometown real estate valuation specialist.
I am a provider of real estate valuations for:
· Cash purchase
· Primary and Secondary Mortgages
· Mortgage Refinancing
· Square Footage Documentation
· Date of Death (Estate Planning)
· Vacant Land
My investment in on-going education, training and technology has helped my customers save time and money, and allows me to provide personalized service. By offering on-line appraisal ordering, coupled with timely report status updates and electronic delivery of the final product, I am able to provide faster service and eliminate the run around and phone tag hassles associated with this process. Because this process saves time, I can concentrate on providing top quality reports and individual attention to my valued clients.
A home purchase is the largest, single investment most people will ever make. Whether it's a primary residence, a vacation home or other real estate investment, the purchase of real property can be a complex financial transaction that requires multiple parties to pull it off.
Most of the people involved in the business of real estate are familiar to you, and provides you with a face to relate to as you move through the sales process. The realtor is the most common face of the transaction and the one most familiar to the seller and buyer. The mortgage company provides access to the financial capital necessary to fund the transaction. The title company ensures that all aspects of the transaction are completed and that a clear title passes from the seller to the buyer.
Most real estate transactions involve an appraiser, but not much is readily known about what an appraiser does. An appraiser is an impartial party who provides an unbiased estimate of what a seller might expect to receive -- or what a buyer might expect to pay -- for a parcel of real estate where both buyer and seller are informed parties. To be an informed party, most people and the mortgage company, turn to a licensed, certified, professional real estate appraiser to provide them with the most accurate estimate of the market value of the property.
There are many people or entities financially exposed in the real estate process. It is important the parties involved in the transaction can proceed to close knowing the value of the property is commensurate with the amount being paid.
So what goes into a real estate appraisal? It all starts with the inspection. An appraiser's duty is to inspect the property being appraised to ascertain the true status of that property. The appraiser must actually see features, such as the number of bedrooms, bathrooms, the location, and so on, to ensure that they really exist and are in the condition a reasonable buyer would expect them to be. The inspection often includes a sketch of the property, ensuring the proper square footage and conveying the layout of the property. Most importantly, the appraiser looks for any obvious features - or defects - that would affect the value of the house.
Once the site has been inspected, an appraiser uses two or three different approaches to determine the value of real property: a cost approach, a sales comparison and, in the case of a rental property, an income approach.
The cost approach is the easiest to understand. The appraiser uses information on local building costs, labor rates and other factors to determine how much it would cost to construct a property similar to the one being appraised. This value often sets the upper limit on what a property would sell for. Why would you pay more for an existing property if you could spend less and build a brand new home instead? While there may be mitigating factors, such as location and amenities, these are usually not reflected in the cost approach.
Instead, appraisers rely on the sales comparison approach to value these types of items. Appraisers get to know the neighborhoods in which they work. They understand the value of certain features to the residents of that area. They know the traffic patterns, the school zones, the busy through ways; and they use this information to determine which attributes of a property will make a difference in the value. Then, the appraiser researches recent sales in the vicinity and finds properties which are ''comparable'' to the subject being appraised. The sales prices of these properties are used as a basis to begin the sales comparison approach.
Using knowledge of the value of certain items such as square footage, extra bathrooms, hardwood floors, fireplaces or view lots (just to name a few), the appraiser adjusts the comparable properties to more accurately portray the subject property. For example, if the comparable property has a pool and the subject does not, the appraiser may deduct the value of a pool amenity from the sales price of the comparable home. If the subject property has an extra half-bathroom and the comparable does not, the appraiser might add a certain amount to the comparable property.
In the case of income producing properties - rental houses for example - the appraiser may use a third approach to valuing the property. In this case, the amount of income the property produces is used to arrive at the current value of those revenues over the foreseeable future.
Combining information from all approaches, the appraiser is then ready to stipulate an estimated market value for the subject property. It is important to note that while this amount is probably the best indication of what a property is worth, it may not be the final sales price. There are always mitigating factors such as seller motivation, urgency or ''bidding wars'' that may adjust the final price up or down. But the appraised value is often used as a guideline for lenders who don't want to loan a buyer more money than the property is actually worth. The bottom line is: an appraiser will help you get the most probable property value, so you can make the most informed real estate decisions.
Every year, countless people in the United States buy, sell or refinance their own slice of the American Dream. Most, if not all, of these transactions include a simple line item for an appraisal. It has become an understood and accepted part of a real estate transaction. "Let's bring in the expert and make sure we're not spending too much on this property."
But is this the only reason to get an appraisal? Are there other times when the services of a certified, licensed, independent real estate professional might come in handy? You bet.
One of the most important issues involved in purchasing a property is developing an opinion of what it's worth so that you can make an informed offer to purchase. A professional appraisal report performed by a qualified, state-licensed appraiser can provide you with an objective, third party opinion of a property's current Market Value. And for the small price of this service, which may save you thousands of dollars, you can give yourself "peace of mind" prior to making an offer to purchase that you're offering a fair price for the property.
If you need to consolidate bills, have college tuition to pay, or just want to tap into the equity of your home, you'll need a new loan, which oftentimes requires a new appraisal of the property.
Private Mortgage Insurance (PMI) is the supplemental insurance that many lenders ask home buyers to purchase when the amount being loaned is more than 80% of the value of the home. Very often, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary once the remaining balance of the loan -- whether through market appreciation or principal pay-down -- dips below this 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Many appraisers offer a specific service for home owners that believe they have met the 80% loan-to-value metric. The appraiser can provide you with an appraisal report regarding the home value. The costs of these services are very often recovered in just a few months of not paying the PMI.
A divorce can be a particularly traumatic experience for both parties and is often further complicated by the difficult decision of, "Who gets the house?" In most divorce cases, the Court won't usually force the parties involved to "buyout" the other party's interest but it may however order the sale of the home so each party gets an equal share of the equity. Regardless of the situation, it's a good idea to order an appraisal so both parties are fully aware of what the true market value is.
If the parties want to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
The loss of a loved one is a difficult time in life and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, the majority of Americans do not have dedicated estate planners or executors to handle these issues. Also, in most cases, a home or other real property makes up a disproportionate share of the total estate value.
Here too, an appraiser can help. Often the first step in fairly disposing of an estate is to understand its true value. Where property is involved, the appraiser can help determine the value of the real property as of the effective date. At this point, equitable arrangements can more easily be arrived at among disputing parties. Everyone walks away knowing they've received a fair deal.
I understand the stress involved with an employee relocation so I take great care in establishing a convenient appointment time for the appraisal inspection. During my thorough inspection, I encourage relocating employees to provide input on the positive attributes of their property along with information about any recent sales or listings in their neighborhood that they want considered.
Before you decide to sell your home, there are several decisions to be made. First and foremost: "How much should it sell for?" But don't forget there may be other equally important questions to ask yourself such as, "Would it be better to paint the entire house before we sell it?"; "Should I put in that third bathroom?"; or "Should I complete my kitchen remodel?" Many things we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense. A real estate appraiser can help you by doing an appraisal.
Whether you choose to sell your home on your own or hire a real estate agent, a professional appraiser can help you make an educated decision when determining your selling price.
Unlike a real estate agent, an appraiser has no vested interest in what amount a property sells for. The appraiser can step in, and without bias, give you the information you need so you can make an informed decision on price and strategy. Appraiser fees are based on efforts to complete the report, not a percentage of the sales price. Seeking a professional appraiser can often help homeowners make the best decisions on investing in their homes and setting a fair sales price.
If you are planning to sell your home, it might be a wise decision to make a small investment in a professional appraisal. Unless you study real estate values on a day to day basis, like a professional appraiser does, it's difficult for you to get a handle on real estate values. We aren’t talking about how much you have invested in your home, how much you paid for it, or how much you want for it. We’re talking about the current market value of your home, which could really pay off for you in the long run!
Many homeowners choose to forego hiring a real estate agent and decide to sell their home themselves - For Sale By Owner (FSBO). Selling your home by this method can end up saving you a potential “hefty” commission (industry average is five percent to seven percent of the home’s selling price). Plus many FSBO sellers feel they have more control over the process of selling their home since they’re in essence making all the rules. But selling your home on your own will require a significant amount of "homework" if you're going to do it right. One piece of advice that is consistently given by the experts in selling your home without assistance is, '"Do NOT "Overprice" Your Home!"' It's very hard to be objective about your own home when you have an emotional attachment. A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.
If you’re working with a real estate agent to list your property, more than likely they’ll provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the “Listing Price". This step is vital if you're going to maximize your profit and minimize the home’s time on the market.
But even if you're working with the most experienced real estate agent, it's probably in your best interest to have an "objective" third-party's opinion of value prior to signing a Listing Agreement. And that’s where an appraiser can be of assistance. The appraiser will provide the accurate square footage of your home which is often the basis of the CMA provided by a Realtor. I can provide you with a pre-listing appraisal so both you and your agent have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales", or as they're commonly called, "Comps". In addition to helping you set a realistic selling price so your propety will attract buyers, a professional appraisal can:
Be a very valuable negotiating tool once you have a potential buyer
Impress buyer’s with written proof of your home’s condition inside and out
Make you aware of problems and eliminate last-minute repair hassles that might delay a closing
Decrease the chances of unknown problems that cause sales to fall through
Many people are surprised when they find out that the market value of their home is much more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand dollars more than they thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal helped them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts.
Maybe you feel like you don't need an "appraisal" but you'd still like some help gathering local property and sales data. My reports help you make an informed buying, selling or investing decision. I understand the complexities of buying or selling a home and know what you are going through. I will do my best to make it easier for you by giving you a high quality, professional appraisal that you can depend on!
I will give you personalized information for your particular appraisal need. Just tell me your situation and I will make suggestions. I can usually provide a quick turnaround time -- typically one week or less from the date the request is received.
When it comes to appraisal and consulting, "One size does NOT fit all!" I offer a variety of report types and delivery methods. Express mail too slow? I can deliver your report (PDF) attached to a standard email the MINUTE it's completed!
My reports are clearly written, understandable, and meet or exceed the Uniform Standards of Professional Appraisal Practice that governs appraisers. If you have any questions regarding your appraisal, after you've read the report, I encourage you to email or call me!
The information transmitted is intended only for the use of HomeSage Appraisals and is not shared or transmitted to any other entity. The information supplied is used only to determine the scope of work required to assist you in your appraisal needs.
P.O. Box 18725, Fountain Hills, AZ 85269
Office: (480) 837-4434