Welcome

Are you looking for an honest, fair, ethical Appraisal Firm for you or your clients?

Make Dennis Appraisals, LLC a part of your real estate team. Contact us for a quick, thorough, objective property valuation.

FHA Approved Appraiser?

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Margaret M. Dennis, SRA, Owner and past Chairperson of the Albany Chapter of the Appraisal Institute

Yes, Margaret M. Dennis, SRA, is an approved FHA Appraiser.
(NYS Certified Residential Real Estate #NY4500003927)

Who are we and what can we do for you?

Dennis Appraisals, LLC is a leading residential real estate appraisal firm with local expertise dedicated to providing valuation and consulting services through analytic discipline and a team approach. Our company’s philosophy is to provide an objective analysis to assist our clients in making informed real estate decisions. Our reports are prepared with the precision that the industry demands with all major property types included.

  • 24 – 72 hour turnaround time after inspection
  • Electronic ordering and PDF or ACI delivery
  • Secure on-line system to track all your appraisals

Our commitment to the industry and the utilization of superior technology has allowed us to provide better service to our clients while controlling cost. We consistently outperform our competitors with better turn-around time by streamlining the appraisal process. We are able to produce a better quality product in a more efficient manner with since our system reducing many of the manual tasks typically associated with the appraisal process.

With the click of a mouse you can order, track, and receive your appraisal order 24 hours a day, 7 days a week. Our site also provides online statements and appraisal pick-up access to your appraisals through a personal and secure login. Our system is updated daily so you are always in the loop during the entire transaction from the appraisal request through delivery.

We are experienced at performing high-quality property appraisals for financial institutions, FHA, brokers, attorney’s, asset service departments and private individuals. With our knowledge of the residential real estate mortgage business, advanced technology, and consistently fast turn-around time, we are one of the most trusted names in the appraisal business.

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  Margaret M. Dennis holds the respected SRA Designation from the Appraisal Institute.                                                                    

Dennis Appraisals LLC. BBB Business Review

When Do You Need a Real Estate Appraisal?

How do you  know when you need a Real Estate Appraisal?

real estate appraisalAn appraisal is a valuation tool used by mortgage lenders to verify a property’s worth for prospective financing. The mortgage industry relies upon a qualified independent real estate appraiser to guide them in their financing decisions. But is this the only reason to get an appraisal? Many homeowners, assessor’s offices, attorneys, buyers and sellers utilize appraisal for a variety of needs:

PMI Removal

Private Mortgage Insurance or PMI is the supplemental insurance that many lenders have to purchase when the amount being loaned is more than 80% of the value of the home (LTV loan to value). This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. After a rise in values and/or payment to principal goes below this 80% level PMI is no longer required. 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. You need a real estate appraisal is required to determine the property’s value. The costs of these services are recovered in just a few months of not paying the PMI.

Property Tax Assessments

Challenging the tax assessment has become a necessity in many parts of the country. Unfortunately, most people go into these challenges unarmed. They may pull some information from the Internet to support their claims, but have no real basis for their claims.

A real estate appraiser can provide the accurate answers to the question of value. While it may not be economical to commission a full appraisal to save a few hundred off your tax bill, often an appraiser can do a limited appraisal for much less, yet with the same conclusions and integrity. An appraisal from a qualified appraiser would be a step in the right direction in any dispute with your local tax assessor.

Estate Planning

In times of loss, it is often difficult to think of the various steps that must be taken to resolve any outstanding monies of the deceased. A real estate appraisal is required to establish fair market values of any real estate properties in the estate for tax filings and any presentation to multiple heirs. The aid of an appraisal is a necessity to dispose of the estate properly

Divorce Settlement

In unfortunate circumstances, such as divorce, appraisals are required so that both parties involved receive a fair and impartial value so that they can concentrate on more important aspects of this difficult time. An appraisal by a qualified independent professional third party is often required by state law to settle the divorce.

Feasibility – Land Utilization Studies

Often appraisers are required when townships are planning certain uses of land, rezoning, implementation of housing developments, traffic infrastructure, cost benefit analysis and a whole host of various projects. The appraiser’s responsibility to deliver an accurate appraisal report is a necessary response to the question of fair market value.

Albany Real Estate Appraisal Services

Albany Appraisals

albany real estate appraisals Dennis Appraisals, LLC services Albany County with the over 25 years of local experience and knowledge of real estate trends pertinent to each individual neighborhood, market area and property type.  Each market area has varying factors affecting valuation.   Factors affecting real estate valuation trends include median household income, home ownership percentage, competition, and new construction activity.   Dennis Appraisals, LLC specializes in analyzing each market area for the factors and trends that drive property values and searches for the most recent and comparable properties to develop a credible and reliable appraisal.

Saratoga County Real Estate Appraisals

Saratoga Appraiser

Saratoga County Local Information. Saratoga County is located 150 miles from Boston, New York City and Montreal and is at the Center of Saratoga County Real Estate AppraisalsNew York’s Tech Valley.   There are two cities, nineteen townships and seven villages located within  Saratoga County, New York.  The driving factors for real estate property and home values is the county’s growing economy, low unemployment and an active  Economic Development Corporation’s success in bringing in Global Foundries to the Lurther Forest Technology Campus in the Town of Malta in 2009 as well as other industries to the county.    An excellent economic outlook continues for the county due to highly educated and skilled workforce, responsive government that promotes the region’s economy, recreation and the arts. Dennis Appraisals, LLC has over 25 years of experience and knowledge to gather and interpret how the local economy influences individual property and home values for Saratoga County Real Estate Appraisals.

What to expect when an appraiser comes to your home.

When the appraiser arrives at your property she will first introduce and identify herself and take a quick assessment of the exterior finishing materials. The appraisal will bring along a clipboard, digital camera and one or more measuring devices. The appraiser will typically start of the front entrance or from the basement and work her way through each area of the home collecting data on the foundation, heating and air conditioning systems, electric service (amperes/fuse/circuit breakers), finishing materials, cabinetry, and special features, including fireplaces, built-ins, custom mill work, built-in appliances, windows, fixtures, basement egress, etc. The materials used in the home and their condition are important considerations when conducting market value appraisals. The appraiser will take exterior and interior photographs to capture all exterior sides of the dwelling, kitchen(s), all bathrooms, living area, finished basement and any special features or items of deferred maintenance for the appraisal report and to aid in the valuation process.

Be prepared to answer the following questions to help the appraiser better understand the property’s upkeep and time of renovations and/or upgrades.

  1. When was the kitchen last updated/renovated?  What was done.
  2. When was the bathroom(s) last updated/renovated? What was done.
  3. How old is your roof?
  4. How old is your furnace/central air condenser unit?
  5. What updates or renovations have been completed? When? Some examples: Installed or refinished hardwood flooring; other flooring (carpet, tile); replacement windows; installed vinyl siding;built garage or outbuilding.
  6. What is the size of your in-ground pool?
  7. If any additions – Completion date and were you issued a Certificate of Occupancy/Compliance from the local building department? ?When?
  8.  If you have well and/or septic system. Be ready to show the appraiser where each system is location, the type and depth of the well and type and age of the septic system.
  9. Provide information about water filtration and clarification systems and if water softener systems are owned or rented.
  10. If income producing property provide leases, rents, tenant/landlord paid expenses and landlord’s operating expenses.
  11. Length of time unit has been occupied or vacant.

Any questions about what to expect during the appraisal inspection for the valuation of your home and real estate property please call Marge Dennis on her mobile phone at (518)424-2662.

What’s happening in NY’s Capital Region Real Estate Market (GCAR March 2016)

Click on link:

Capital Region Skinny for GCAR March 2016 (based on February 2016 statistics) –  What’s happening in NY’s Capital Region Real Estate Market

Malta Tech Park influence.

 

The Malta Tech Park, home to Global Foundries is continuing to have a positive influence on residential properties in the Towns of Malta, Stillwater, Halfmoon, Clifton Park, Ballston, Saratoga and other surrounding townships. Although new construction starts have slowed from 2005 and 2006, demand from the Malta Tech Park employment activities is starting to improve new construction starts with prices above current housing stock.

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Capital Region New York, Upstate Real Estate Market, Home Appraisals

Yes, the residential real estate appraisal business is up over the past 12 months. Why? Refinancing at the lowest mortgage rates ever. The appraisal is utilized by the lender to inform the lender what the property is worth based on recent comparable sales and what is happening in the market as of the date of value. Most lenders sell to and require the the appraiser to conform to Fannie Mae and Freddie Mac appraisal guidelines.

The appraisal must provide detailed information about the subject property being appraised and the comparables sale used and not used in the report. It is important that the appraiser provide enough substance in the appraisal report for the underwriter (reader) to follow the logic of the analysis and the final opinion of value conclusions. The days are gone where the appraiser can use boiler plate reports and/or canned comments. More work for a better product for the lender to understand the market, subject property and value conclusion.