Financial Estate Planning and Trust

As you transition into retirement years you need to know the value of your portfolio to plan properly.  Real estate holdings often represent your largest assets but unlike insurance policies, stocks, bonds, mutual funds etc. real estate has no discernible market value.

We have worked closely with several best financial planning companies as they develop the most effective and advantageous strategies for their clients, and in doing so we discovered the top three most common mistakes made by their clients regarding property values.

Mistake #1 is assuming the assessed value is the market value of their home. It is not! the assessed value has absolutely no supportable correlation whatsoever with the fair market value of home. A tax assessment is not the same as an appraisal because the intended use of the assessed value is primarily reserved for property taxation purposes. Actual sales used in the assessment process lag at least one year behind.

Mistake #2 is to use an online service like a Zestimate from Zillow to determine the value of property by address.  Zillow publishes its own comparison of actual sales prices vs. their Zestimates which reveals an alarming rate of inaccuracy.

Mistake #3 is to call upon a friend or relative who is a real estate agent unfamiliar with their neighborhood market and ask for their broker’s opinion of value (BPO).  Every market has good local real estate agents who can usually develop a reasonable commercial real estate value estimate.  Keep in mind however, that BPOs are not considered accurate enough for any federally secured mortgages (FNMA).

You need to hire the services of a professional real estate appraiser to estimate the fair market value of your properties. The appraisal should be in the form of a well-supported, professional, appraisal report. State and Federal laws require that the Appraiser and the appraisal process be independent from any influence, coercion or undue pressure. This allows the Appraiser to remain an independent, third-party.

Our approach: 

We understand and appreciate that your home and any other real estate is often one of the most important part of your portfolio. We are also bound by the ethical provisions within the Uniform Standards of Professional Appraisal Practice (USPAP) which guarantees our customers the highest level of confidentiality and discretion. In addition, we provide you with comprehensive appraisal reports that meet or exceed requirements of the IRS, courts and other various agencies.

Working with certified retirement financial advisor Aladdin Appraisal rest assured that you will get the best in professional service and courtesy, while also receiving the highest quality appraisal reports. Our team of exceptional appraisers will be discreet and respect and protect your family’s privacy.  And if necessary Aladdin Appraisal stands behinds its appraisals and value estimates in the unlikely event that family matters disintegrate to a dispute.

Our Senior Staff certified retirement financial advisor, Adam Wiener, CRA will complete or personally review your appraisal. Our extensive experience includes dealing with local and prestigious law firms in the Greater Boston area.

We welcome your telephone inquiries and invite your questions about our process.