Susquehanna County, PA

Posted on: January 13, 2016, by :

When someone applies for or makes any sort of financial transaction involving their house (i.e., mortgage, equity loans), the bank issuing the loan will want an appraisal so they will be able to determine what the house is worth as well as the conditions of the loan. PA has the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) for appraisers and banks to use so that there is uniformity across the state. FIRREA dictates that appraisers have to be independent and either state licensed or certified. Their appraisals can only be performed in writing and must be based on real market values. The bank’s staff that handles home loans can have only limited communication with the appraiser and they can’t release any information regarding the property or promise future work in exchange for higher appraisal values. Additional guidelines are in the Home Valuation Code of Conduct (HVCC).

With a population of 43,356, Susquehanna County is made up of 98.54% White, .3% Black, .22% Asian and 0.67% Hispanic or Latino. Beautiful scenery and a median home price of $139,500, could make Susquehanna County your ideal home.

As for the visual appraisal, a close examination is completed on both the inside and outside of the home. There is close attention paid to the quality of construction, condition as well as location of the house. The appraiser will likely pay attention to the number of bathrooms and bedrooms the house has and to any upgrades and amenities like energy efficient appliances. Some appraisers may consider factors such as the proximity of the house to public transportation, local schools and curb appeal as amenities. Improvements or upgrades that are not visible, they should be pointed out by the homeowner.

The Multiple Listing Service (MLS) is a vital resource for appraisers to review tax, and zoning information in addition to comparable home sales data. Local Susquehanna County real estate attorneys may also be able to provide insight. Once they’re done gathering data, they submit their Highest & Best Use Analysis of the house by using one or more of three separate appraisal approaches: Cost Approach, Income Approach and Market Data Approach. At, our goal is to streamline the appraisal process for you, so contact us today.