WEST CHESTER, PA · THE APPRAISAL PROCESS
How do we work out what a property is worth?
We examine the property, research comparable sales and explain how the evidence supports an independent opinion of value. For your West Chester home, the starting point is the address, why you need the appraisal and the date the value needs to reflect.
1442 Pottstown Pike
West Chester, PA 19380
First, understand the home itself
At the inspection, we look at size, layout, condition and features, including improvements and areas needing repair. Records of additions and major repairs help describe what is being valued.
Then we research the market: recent sales, local conditions and, where relevant, building costs or rental income. Location, nearby amenities, schools and transportation form part of that analysis.
Two West Chester addresses can describe very different homes
West Chester Borough and nearby West Goshen, East Goshen and Westtown are separate municipalities. A West Chester mailing address alone does not identify the municipality or school district.
Consider a borough twin and a detached home in West Goshen as an illustration. Sharing a mailing town would not make them interchangeable comparisons. We look for relevant sales and account for differences in size, condition, features and setting; we do not assume one is worth more just because it is in the borough or a township.
This sales comparison approach is the most common method for residential homes and is also used for land. The question is what similar properties have sold for, with the differences taken into account.
The property determines which methods fit
| Method | What it compares |
|---|---|
| Sales comparison | The property and relevant completed sales, with differences considered. |
| Cost approach | Land value and the cost of improvements, allowing for depreciation. |
| Income approach | The property’s potential income and market evidence for income property. |
Cost approach: estimate the cost to build a similar property today, subtract depreciation and add land value. This can be useful for newer, unique or special-use buildings, especially when comparable sales are scarce.
Income approach: for rental, investment and commercial properties, consider expected income, expenses and rates of return.
Price per square foot: divide price by square footage and compare similar properties in the same submarket. It is a secondary check, not a standalone valuation. An area average cannot account for all the differences between homes.
A value with the reasoning behind it
The written report typically includes the estimated fair market value, valuation date, methods used, a property description, market and comparable-sale analysis, and supporting photographs, sketches and maps.
Buyers and sellers use that evidence to assess a price; lenders use it to inform lending limits and risk; investors use it to assess potential returns. Tell us your intended use, who needs the report and your deadline so we can discuss the scope, timing and a quote.
More about the appraisal process
Historical prices and business details in the video may differ from current information.
Published May 27, 2025 · Updated September 15, 2026 · The Appraising Group West Chester
CONTINUE READING
LET’S TALK THROUGH THE PROPERTY
A clear next step starts
with your address.
Tell us why you need the appraisal and when the report is needed. We’ll discuss coverage, timing and a quote.