Real estate appraisal is the practice of developing an opinion of the value of real property, usually its Market Value. (Real estate appraisal is American usage; many other countries use the terms property valuation or land valuation.)
The need for appraisals arises from the heterogenous nature of property as an investment class: no two properties are identical, and all properties differ from each other in their location - which is the most important determinant of their value. So there cannot exist a centralised Walrasian auction setting for the trading of property assets, as there exists for trade in corporate stock.
The absence of a market-based pricing mechanism determines the need for an expert appraisal/valuation of real estate/property.
Real Estate Listings:
Expert Analysis and Testimony from Appraisal
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Real Estate Appraisal Services
Appraisers USA provides real estate appraisal services to residential and small commercial properties in the greater Washington, DC metropolitan area. http://www.appraisers-usa.com/
