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Palmetto Florida

Why Choose SDI Appraisal

Stephen D. Ihrig II, SRA is principal of SDI Appraisal, specializing in the valuation of residential real estate. Steve has been providing appraisal and consulting services since 2003.

The Rich History of Palmetto Florida

Palmetto, Florida nestled along the shores of the Manatee River, has a history deeply intertwined with the development of the region. The city’s origins can be traced back to the mid-19th century when Samuel Sparks Lamb established a plantation in the area. Originally known as “Palmetto Beach,” the town began to take shape as a trading and shipping hub for local agricultural products, including citrus fruits and vegetables. The arrival of the railroad in the late 1800s further facilitated commerce and contributed to Palmetto’s growth.

In the early 20th century, Palmetto continued to thrive as a center for agriculture and commerce. The establishment of the Manatee River’s first bridge in 1924 solidified its role as a vital transportation link between Manatee and Pinellas counties. The city’s rich agricultural heritage was exemplified by the large-scale cultivation of vegetables, fruits, and the renowned Manatee County tomatoes. Palmetto’s waterfront area, with its historic district, became a focal point for economic and community activities.

 

Samuel Sparks Lamb Palmetto Florida Founder

img. source MyManatee.org

Samuel Sparks Lamb seen in his later years. He was the founder of the town of Palmetto and for many years he was the town’s largest merchant.

Palmetto Florida Property Appraisal

Palmetto’s Real Estate Landscape

Palmetto has evolved into a diverse and charming community, preserving its historical legacy while embracing modern developments. The city’s commitment to preserving its historic downtown and architectural heritage is evident in the well-preserved buildings and landmarks that tell the story of Palmetto’s past. Today, Palmetto stands as a testament to the enduring spirit of Florida’s Gulf Coast, blending its agricultural roots with a contemporary atmosphere that makes it a unique and welcoming place to call home.

Understanding Home Appraisals

A home appraisal is an unbiased estimate of a property’s fair market value, conducted by a qualified appraiser. Several factors influence this valuation, including the property’s location, size, condition, and comparable sales in the area. The appraisal process involves a detailed examination of the property, considering both its interior and exterior features. Appraisers also analyze recent sales of comparable properties, known as “comps,” to determine the property’s value. Their findings are documented in a comprehensive appraisal report.

Home Appraisal vs. Home Inspection

It’s essential to distinguish between a home appraisal and a home inspection. While an appraisal focuses on determining the property’s value, an inspection evaluates its structural integrity and identifies potential issues. Various myths surround home appraisals, such as the belief that home improvements always result in a higher appraisal. Debunking these myths ensures homeowners have accurate information about the appraisal process.

Choosing the Right Appraiser

Selecting the right appraiser is crucial. Homeowners should prioritize qualified, experienced professionals who remain impartial throughout the appraisal process. Appraisals play a significant role in mortgage approval. Lenders use the appraised value to determine the loan amount they are willing to extend to the borrower.

Realtors and appraisers often work together for their clients. Effective communication between the two parties enhances the overall real estate experience. In cases of disagreement with the appraisal, homeowners have options for resolution. This may involve providing additional information or formally appealing the appraisal. 

Reconsideration of Value

Sometimes you disagree with an appraised value, or you just get a bad appraisal.  Before getting a second opinion of value (see below) you may be able to resolve your issues by filing a reconsideration of value with the lender.  Download our -FREE-Reconsideration of Value Request” Template and the Example as a guide showing how to fill this form out.  Many Realtors have used this more than once, often with great success, so save these on your computer.  A well written reconsideration of value is a powerful tool!

Notable Sarasota Florida Property Appraisals

Palmetto Florida Historical Properties

Residence of J. A. Lamb

Mr. Julius A. Lamb and his wife Lillie A. Mason in their yard at Riverside Drive. They were married in 1895 when the house was built. Lamb also operated a livery stable in partnership with W.T. Chapman around 1893. Along with his father, Samuel Sparks Lamb, the founder of Palmetto, and J.A. Howze, Lamb helped build the City Dock of Palmetto in 1897. J.A. was treasurer of his Sunday School Association in 1898. Around 1908 to 1910 he had a dry goods store, but he sold the store and merchandise to T.A. Howze in July 1911. By 1916, he worked with Lamb and Willis, a real estate firm in the Lamb-Willis Building on Palmetto’s Main Street. 

img. source MyManatee.org

J A Lamb Palmetto Florida Historical Property

FAQ Frequently Asked Questions about Property Appraisals

1. What is a property appraisal?

A property appraisal is a professional assessment of the value of a real estate property. It involves a comprehensive evaluation conducted by a qualified appraiser who considers various factors to determine the property’s market value.

  • Key Information:
    1. A property appraisal is conducted by a certified appraiser.
    2. It provides an unbiased and expert opinion on the property’s value.
    3. The market value is determined based on factors like location, condition, and recent sales of comparable properties.

2. Why is a property appraisal necessary?

A property appraisal is necessary for several reasons, primarily to determine the fair market value of a property for various stakeholders, such as lenders, buyers, and sellers. It plays a crucial role in real estate transactions.

  • Key Information:
    1. Lenders use appraisals to assess the property’s value for mortgage approval.
    2. Sellers rely on appraisals to set a reasonable listing price.
    3. Buyers use appraisals to ensure they are not overpaying for a property.

3. How is the value of a property determined during an appraisal?

The value of a property during an appraisal is determined through a meticulous process that considers multiple factors. Appraisers analyze recent sales data, property condition, location, and other relevant aspects to arrive at an accurate valuation.

  • Key Information:
    1. Recent sales of comparable properties (comps) heavily influence the valuation.
    2. The property’s physical condition and any improvements or defects are taken into account.
    3. Location, including neighborhood and proximity to amenities, is a critical factor in valuation.

4. Can property improvements increase its appraised value?

Yes, property improvements can positively impact the appraised value. Appraisers consider any upgrades or renovations that enhance the property’s overall appeal, functionality, and condition.

  • Key Information:
    1. Renovations like kitchen upgrades, additional bathrooms, or modernized systems can increase value.
    2. Quality materials and craftsmanship in improvements contribute to a higher appraisal.
    3. It’s essential to keep records of improvements to provide evidence for the appraiser.

5. How long is a property appraisal valid?

The validity of a property appraisal depends on various factors, but typically, it is considered valid for a specific period. The real estate market’s volatility and changes in property values may necessitate more frequent appraisals.

  • Key Information:
    1. An appraisal is typically valid for a few months, often around 90 days.
    2. Changes in the market, property condition, or significant improvements may prompt the need for a new appraisal.
    3. Lenders may require a current appraisal at the time of loan approval.

SDI Appraisal Mission Statement

Committed to empowering our clients with clarity and direction.

Stephen D. Ihrig II, SRA is principal of SDI Appraisal, specializing in the valuation of residential real estate. Steve has been providing appraisal and consulting services since 2003. Currently a Certified Residential Appraiser in the State of Florida, Steve was awarded the SRA designation from the Appraisal Institute.

In today’s ever-changing real estate market, utilize only the best and most qualified individuals to perform your residential appraisals.  An accurate value supported by data and analysis, that reflects market trends, can hold up in any court of law, is considered a high-quality report by any lender’s underwriting system, and meets all USPAP (Uniform Standards of Professional Appraisal Practice) standards should be your primary objective when retaining a real estate appraiser.

Specialized Professional Education and Development

20+ Years of Experience

Excellent
Based on 16 reviews
Guillermo Martinez
Guillermo Martinez
2024-04-12
I had a great experience with SDI appraisals! Steve was very personable and he took the time to answer all of my questions. I appreciate how quick he was able to produce a report for me. I’ll be sure to use him again!
C C
C C
2024-02-19
Stephen Ihrig has been honest, diligent, communicative, and detailed in his work for me. He went above and beyond communicating with me about his services while I am in the final stages of my divorce, when the majority of our marital assets are the real estate he appraised for me. I can’t wait to have him be my expert witness for my day in Florida court. Well earned reasonable fee. 100% confidence in SDI and Stephen. I have high standards for quality and I highly recommend!!
Rhonda
Rhonda
2023-12-15
Steve is an awesome appraiser! He is very knowledgeable and goes above and beyond to help with all my appraisal related questions when needed.
Derek Golden LLC
Derek Golden LLC
2023-06-07
I recently had the pleasure of working with Stephen and SDI Appraisal and I must say I was thoroughly impressed by their professionalism and expertise. From the moment I first made contact, I felt reassured that I was in good hands. Stephen was punctual, respectful, and showed an incredible depth of knowledge about the housing market and appraisal process. He took the time to explain the entire procedure in detail, ensuring we were well-informed and comfortable every step of the way. The appraisal report itself was delivered promptly and was comprehensive, yet easy to understand. It provided valuable insights into my property's value and how it compares to others in my neighborhood. I was also impressed by the inclusion of clear, high-quality photos and detailed explanations for each valuation point. This experience has made me appreciate the value of a skilled, professional appraiser. I highly recommend Stephen and SDI Appraisal to anyone in need of a thorough and accurate home appraisal.
Debra Caponnetto
Debra Caponnetto
2023-04-01
Steve was extremely informative and professional. He did some background research without charge and recomnended that I seek someone more local based on tge purpose for my appraisal and was kind enough to provide 3 additional referrals. Couldn’t have asked for anything more from a cold call. Thanks again for all your help Steve!
Glenn Mccoy
Glenn Mccoy
2022-11-07
Steve completed an appraisal for a home equity line of credit we were seeking. I soon discovered he is a very dedicated professional; thorough, extremely knowledgable, and his analytical mind is impressive. I own a real estate brokerage, and rarely do I find an appraiser that has such a command of the nuances of my market - Steve certainly did. Thank you!
Renee Gray-Wyall
Renee Gray-Wyall
2020-10-04
We just received our appraisal from Stephen and could not be more pleased with his outstanding , professional and time sensitive service and expertise . The appraisal report is very thorough with 7 comparable sales and explanation for adjustments, beautiful pictures and professional presentation. We called a total of 3 appraisers in one day , Stephen was the only one that got back with us , we are so glad he did we feel blessed that we were able to snag such an experienced appraiser .
Christina Pitchford
Christina Pitchford
2020-09-24
Steve was very easy to work with to schedule the appraisal as quickly as possible--and then very quick to return the detailed report! Much appreciated!
Christine Burke
Christine Burke
2019-01-17
I would highly recommend! I called Steve for questions about a land encroachment issue hoping he could provide some direction. He spent an hour on the phone with me, then sent me a detailed email leading me to other people and resources. All his time, FREE. Please use his company!! He is very helpful and honest!
Jenny Brimley
Jenny Brimley
2018-12-07
They did a great job! Steve came out the day after he called and got the appraisal completed in just a couple business days! I was extremely happy with the appraisal he gave us. Will definitely recommend to anyone needing an appraisal.

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All information provided is provided for information purposes only and does not constitute a legal contract between SDI Appraisal and any person or entity unless otherwise specified. Information is subject to change without prior notice. Although every reasonable effort is made to present current and accurate information, SDI Appraisal makes no guarantees of any kind.

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