They may also estimate the how much it would cost to re-build. Appraisers may estimate how much the value of the property has declined over time. They must think about many things that could influence the present and future value of the property. These include the location of the properties, potential income, current market conditions, and real estate trends. They may estimate the market value of the property, the insurable value, the investment value, or other kinds of value.
Appraisers prepare written reports of their findings.
Real estate appraisers often specialize in a certain type of property. Most appraise homes. Others specialize in apartment or office buildings, shopping centers, or other types of properties. Some appraisers estimate the value of corporations. These estimates are done for public investment or market prices for sales of entire businesses.