Home, Property Appraiser Iredell County, North Carolina

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The value of real estate in Iredell County, North Carolina has risen dramatically in the past 20 years. Although as demand and supply fluctuates, not every property in Iredell will increase in value at the same rate. The real estate market in Iredell, NC has been appreciating on a linear scale. The major market forces are the population level, the strength of the national, and local economy, and the availability of financing.

Home appraisers in Iredell County, North Carolina examine the four forces that create value. For any real estate or commodity to have value, the four elements that create value must be present. These elements are demand, utility, scarcity, and transferability. The most common type of value that an property appraiser in Iredell County, NC uses is market value. Home appraisers describe market value as "the most probale price which a property should bring in an open and competitive market. The buyer and seller must be motivated, and the sale must have been exposed to the market for a resonable amount of time. Furthermore, the sales must be an "arm's lenght transaction". Other values can also be used, such as, investment value, going concern value, liquadation value, etc.

Property appraisers in Iredell, North Carolina use basic value principles in their appraisal process. The principle of anticipation says that a property's value may be affected by an expectaion of a future event. Such as a residential property turning into a commercail use, or a new highway being built next to a residential subdivision. Appraisals in Iredell must research and anlyaze future uses of other properties.

Real estate appraisers offering appraisals in Iredell, North Carolina must consider the theory or balance. Real estate in Iredell is unique, immovable product. Land will tend to be at its highest value when the four factors of production are in balance, which are land, labor, capital and management. With the appropriate proportion of residential, commerical, and industrail land uses, all properties in Iredell benifit by the ability of the area to attract and keep both residences and business. This might be noted in the appraisal report.

All properties in Iredell are influenced by the economic theory of change. No pysical or econonmic condition remains constant. Natural changes, wear and tear, economic changes, all affect the market value of properties that are located in Iredell County, North Carolina.