James Make & Associates has answers to "Frequently Asked Questions"

James Make & Associates is always happy to answer any inquiries you might have about appraisals or real estate in Coppell and Dallas County. Feel free to contact us today.

Define the term "Appraisal"
What does an appraiser do?
What would cause me to require your services?
How is an appraiser different than a home inspector?
What's in an appraisal report?
Once the assignment has been delivered, what assurance is there that the final number is accurate?
What does it mean for an appraiser to be licensed?
Who engages the services of appraisers?
Where does an appraiser get the data used to estimate values in Dallas County or other areas?
How can a licensed appraiser help me?
Do you need anything from me in advance?
What is "Market Value?"
Once complete, who actually owns the appraisal report?
Are some home improvements more worthwhile than others?

Define the term "Appraisal"   (List of questions)

The procedure of producing an appraisal report deals with an evaluation which leads to an opinion of value. There are three "common approaches to value" which helps the real estate appraiser come to this opinion or estimate. One of the three is the Cost Approach - which is how much it would cost to replace the improvements, less physical deterioration and other factors, then adding the land value. The most common approach in finding the value of a home is the Sales Comparison Approach which deals with figuring a comparison to similar homes close by. Being the most common approach, the Sales Comparison Approach tends to be the most precise and best indicator of market value for a residence. The third approach is the Income Approach, which is of most importance in appraising income producing properties - it involves estimating what an investor would pay based on the income produced by the property.

What does an appraiser do?   (List of questions)

An appraiser offers a professional, unbiased assessment of market value, often in the context of a real estate purchase. Appraisers present their expert investigation in appraisal reports.

What would cause me to require your services?   (List of questions)

There are many reasons to obtain an appraisal from James Make & Associates with the most common reason being real estate and mortgage transactions. Other reasons for purchasing an appraisal include:
  • If you are applying for a loan.
  • If you would like to lower your property tax burden.
  • To demonstrate a homeowner's acquired equity and remove insurance.
  • To challenge inflated property taxes.
  • If you need to settle an estate.
  • To give you an edge when purchasing a home.
  • Because a government agency such as the IRS requires it.
  • If you ever find yourself in a civil case.
For a more detailed description of the appraisal process click here.


Appraisers do not do provide house inspections and are not home inspectors. A third-party home inspector will judge the structure of the house, from the roof to the bottom. The general property inspector's report will contain an evaluation of the condition of the property's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems, the roof, attic, and visible insulation, walls, ceilings, floors, windows and doors, the foundation, basement, and visible structure.


Frankly, it's like comparing sugar and saccharin. The CMA relies on indefinite market trends. The appraisal is based on specific valid comparable sales. Location and architectural values are also a priority in an appraisal. The CMA will provide a non-specific figure. Delivering a defensible and careful analysis, an appraisal will give a clear opinion of value.

But the most significant factor is who's behind the report. Real estate agents write CMA's, and they don't always know the whole market or have specific competence when it comes to home valuation. A certified, Texas licensed professional who made a career on valuing properties in and around Dallas County is behind the appraisal. Likewise, the agent has something at stake since they get a commission based on the property's selling price whereas the appraiser is bound by a code of ethics to collect only a flat sum for assignments, regardless of their outcome.

What's in an appraisal report?   (List of questions)

Every report should demonstrate a credible estimate of value and should document the following:
  • The client and other intended users.
  • How the appraisal is supposed to be used.
  • The appraisal's purpose.
  • The effective date of the value opinion.
  • What was involved in the process of completing the appraisal.

Once the assignment has been delivered, what assurance is there that the final number is accurate?   (List of questions)

  • The appraisal used an appropriate analysis of the data.


  • That appraisal services were done in a careful and conscientious manner.

  • The final appraisal report was understandable, legitimate and defensible.
There are rigorous classroom and real world experience requirements that must be satisfied in order to become a licensed appraiser in Texas. Likewise, appraisers must abide by a stringent industry code of ethics and respect national standards of practice for real estate appraisal. The tenets for developing an appraisal and documenting its results are insured by enforcement of the Uniform Standards of Professional Appraisal Practice (USPAP).


Who engages the services of appraisers?   (List of questions)


Where does an appraiser get the data used to estimate values in Dallas County or other areas?   (List of questions)


General data is gathered from a many places. Local Multiple Listing Services (MLS) provide information on recently sold homes that could be used as comparables. Tax records and other public documents verify actual sales prices in a market. Appraisers often have to report when a property is in a flood zone, so that information is retrieved from a FEMA data outlet such as a la mode's InterFlood service.





PMI is short for for Private Mortgage Insurance. It takes care of the lender in the event a borrower defaults on the loan and the market price of the house is lower than what the borrower still owes on the loan. Once you reach the point where your home's equity plus the amount you've paid is at least 20% of your loan balance, you can have your PMI dropped.

Is PMI a part of your monthly house payment?Call James Make & Associates today at (972)304-5622 or send us an e-mail. A current appraisal could save you thousands.

Do you need anything from me in advance?   (List of questions)


  • List of personal property to be sold with the home.

What is "Market Value?"   (List of questions)

In real estate appraising, Market Value is commonly defined as:








Let Assured Appraisals, James Make & Associates assist you with a professional, prompt, accurate Real Estate Appraisal. Contact us or order an appraisal online to get started today.