Real Estate Appraiser in Visalia point of view after the appraisal was complete.

I inpsected a property in Visalia in August 2007.

The home was about 800 square feet of gross living area, 1 car attached garage and had 2 bedrooms and 1 bath. It was built in 1940's and was in average condition. It had several upgrades that included dual pane windows, new wall heater, new electrical wiring through out home and upgraded roof.

The home was on a 7500 sq ft lot and had an alley in the rear of the property. The flooring was the original hard wood floor. The kitchen needed updating which would include cabinets, dishwasher, sink and counter tops.

The owner was in the process of selling the house to an investor that was going to "try" and "touch up" the property and re-sell.

Final Value per appraisal: 180K, less than the asking price from the current owner.

Appraisers Opinion: "I feel the real estate market in Visalia in changing from declining to stable and this investor is reaching and will not be able to make a "big" profit on this property. It would be best to rent the property out for another year or two and try an sell when the real estate market in Visalia changes from stable to increasing."