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5 Reasons to Have Your Home Appraised: An Interview with Charles Washko of Longarce Appraisals and Adjustments

By Charles Washko

Tell us a little bit about your company and the services you offer.

Longacre Appraisal & Adjustment Services, Inc. has provided comprehensive and efficient insurance services for nearly four decades. Longacre was founded by Charles F. Binder back in 1974. Three generations of his family have helped to grow the business from a local Philadelphia company to a regional industry leader.

Our services include damage appraisal assessment, square foot valuations, claims management services, and general contracting.

What is one of the most common reasons that someone has their house appraised?

It has been our experience that many homeowners look to have their home appraised to see what the market bears. Selling your home can be a hard enough decision but a home appraisal allows a homeowner to determine whether they are maximizing the full potential of their investment.

Conversely, some homeowners feel that their home has been overvalued. This can leave many homeowners with a tax bill they cannot afford.

When you're buying a home, how can an independent appraisal help you?

When buying a home an independent appraisal can help potential buyers identify issues that may go overlooked when completing a walk through with a Realtor. Having a detailed and thorough inspection by an industry professional will provide a potential home buyer with pertinent information on the overall condition of the structure from the roof, down to the foundation, and all points in between.

How does a home appraisal affect property taxes in Pennsylvania?

In Philadelphia the City Created the Office of Property Assessment (OPA) back in 2010 to evaluate and assess nearly 60,000 homes. Many residents felt that the evaluation process was unfair leaving them with higher taxes that did not correlate with market conditions. Many homeowners were left in a position where they could not afford the tax hike. As a result many homeowner had appealed the OPA's assessment of their property and used independent appraisals as to support their stance.

What tips do you have for a homeowner who wants to take out a home equity loan?

I'd rather not provide financial advice. Home equity loans have great risk due to the fluctuations of the real-estate market and anyone considering should exercise their due diligence and make sure it's the right fit for their themselves and their financial situation.

Is there anything that most people don't know about home appraisals that they should know?

Not all appraisal companies are the same nor is the final product. When doing your research make sure to contact prospective firms and speak with someone. This will allow you to vet their experience and expertise and give you a good idea whether it's a company you would like to do business with.

What's the best way for people to contact you and your company?

The best way to reach me or Longacre Appraisal is contact us at Ph # 800.666.1421 & Email: cbw@longacreadj.com.

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