Property Appraisals Key West Frequently Asked Questions


Q:  Why do you need a property appraisal?

A: A Property appraisal provides an accurate, current value of your property. Buying, selling or refinancing, settling an estate or divorce, establishing a value for tax purposes, marketing and peace of mind are the most common reasons.
Q:  How long does it take to get a property appraisal?

A:  We turn most property appraisals Key West and throughout the Florida Keys around within 3 business days following site inspection. That is 4 - 7 days faster than many other appraisal management companies.
Q:  Can a property appraisal save me money?

A:  An appraisal tells you the current market value of your property. In this time of residential market flux, this is valuable information for all Florida Keys residents who own, or are considering buying a home in the keys.
Q:  What can a home appraisal do for me as a Buyer?

A: A home appraisal confirms that your new home will be worth what you are paying for it.
Q:  What can a home appraisal do for me as a Seller?

A:  Underpricing your home means you lose money on a sale, that you would have had with if you only knew the appraised value of your home. Putting your home on the market at a price so far above current prices that it sits there unsold, is also not productive for selling your home.  With a house appraisal, you will know the current market value of your home, which can reduce your marketing time.
Q:  What can a house appraisal do for me as a Homeowner? I am not buying or selling my home.

A:  Re-appraising your home, especially after modifications, additions and/or repairs, can help you establish the amount of equity you have in your home. A first mortgage carries a lower interest rate than second and third mortgages. You can use extra equity to consolidate your mortgage loans, pay off your credit cards, and lower your higher interest debts.
Q:  What County does Barefoot Appraisal service?

A: Barefoot Appraisal is the premier Monroe County property appraiser servicing all of the Florida Keys from Key Largo to Key West.

Q:  What are other ways I can save money?

A: You can save money if you are paying PMI (Private Mortgage Insurance). This is insurance your mortgage company charges to insure that your mortgage loan will get paid. If you financed your home with less than 20% down, it is likely that you are paying PMI. By getting your property appraised, you might find that you have 20% equity in your home.
You can eliminate that PMI payment which could be enough to make an extra home payment. Did you know if you made one extra home payment a year, you could cut your 30 year mortgage down by several years?



Craig Martin



Chief Residential Appraiser