Appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ.
- For buying and selling purposes, appraisals are usually based on market value — what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.
- Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.
- Appraised value doesn’t take into account special considerations, like the need to sell rapidly.
- Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.
Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com

Rick’s knowledge and professional personalize approach in assisting clients began in 1976, after graduating from the University of Illinois with a B.S. Degree in Finance, with special concentration in Real Estate and Urban Economics. He is the firms Designated Managing Broker.
Besides yearly sales achievement awards, Rick was twice elected President of the Quincy Association of REALTORS® and was honored by the Q.A.R. with Realtor of the Year and the Outstanding Career Realtoraward. Rick is experienced in residential and commercial sales and leasing, with an added background in the Management and Rehabilitation of rental property. He served as Commissioner and Chairman of the Quincy Housing Authority for over 17 years, providing oversight to over 300 subsidized housing units; which functions to ensure the availability of clean, safe and affordable housing for low income residents in our area.
For nearly 10 years, Rick held a Pre-License Instructor license, teaching the necessary coursework for those seeking Real Estate careers, while continuing to mentor and train new agents in development of successful careers.
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