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St. Petersburg 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 St. Petersburg Florida

St. Petersburg, Florida, holds a captivating history that mirrors the evolution of the Sunshine State’s Gulf Coast. Established in the late 19th century, the city’s origins are often attributed to John C. Williams, who purchased the land on the Pinellas Peninsula with the intention of developing a resort community. In 1888, the area officially became St. Petersburg, named after the city in Russia. The subsequent arrival of the Orange Belt Railway in 1889 spurred growth, transforming the region into a desirable destination for tourists and winter residents. The city’s early economy centered around tourism, fishing, and agriculture.

The 20th century brought about transformative changes in St. Petersburg. Known for its favorable climate, the city became a popular destination for retirees, earning the moniker “God’s Waiting Room.” The establishment of cultural institutions, such as the Salvador Dalí Museum and the Museum of Fine Arts, contributed to the city’s cultural vibrancy. The construction of the Gandy Bridge in 1924 further facilitated accessibility to the area, enhancing St. Petersburg’s connection to the Tampa Bay region.

 

St. Petersburg Florida Historical Gandy Bridge

img. source TampaPix.com

In addition to cutting the driving distance between St. Petersburg and Tampa from just under 50 miles to 19 miles, the Gandy Bridge had a lasting impact on the Tampa Bay area.

St. Petersburg Florida Property Appraisal

St. Petersburg’s Real Estate Landscape

St. Petersburg, Florida, boasts a vibrant real estate market characterized by a mix of luxury properties and diverse neighborhoods. Recent trends indicate a steady rise in property values, making it an opportune time for homeowners to assess their property’s worth. A well-executed appraisal ensures a fair market value for the property, benefiting both buyers and sellers. It also provides a solid foundation for negotiations and helps in setting a realistic listing or offer price.

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

St. Petersburg Florida Historical Properties

Don Cesar: The Pink Palace

Often referred to as the “pink palace,” the Don Cesar is something of an icon on the Gulf Coast. When it was first built in 1928, by architect Henry H. Dupont, the hotel acted as a playground for the elite, including F. Scott Fitzgerald and Clarence Darrow, who would roam the baroque hallways and dance on the marble floor of the King Charles Ballroom. During the 1940s, the hotel was converted into a hospital for airmen returning from their World War II tour. Fast-forward three decades and the beloved pink lady has retained its lavish roots, while reopening as a luxury hotel with the same Moorish flair, including horseshoe arches, decorative tiles, and beautiful courtyards.

img. source ArchitectualDigest.com

The Don Cesar St Petersburg 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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