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Pre-Katrina Appraisals
The use of Automated Valuation Models (AVMs) to calculate property damage in hurricane and flood ravaged New Orleans was recently discontinued, with government officials conceding the AVM values were often drastically off the mark. In most cases pre-storm appraisals will be used instead, a "shift [in] emphasis from computer-generated assessments to traditional appraisals by people," reported the New Orleans Times-Picayune.
A private company administering the Road Home program, a $7.5 billion aid program for owners of flooded homes, relied on AVM calculations of pre-storm value. It switched course last month amidst pressure from state and local officials. The use of AVMs was "not correct for a city with neighborhoods as diverse as the greater New Orleans area," State Representative Tim Burns said.
Why Should I Get A Pre-Katrina Appraisal?
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You are applying for LRA money.
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If you don't have a recent appraisal.
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Your appraisal is older than 2/26/05.(Values change constantly...your home could have appreciated in a short period of time)
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If you have to use your tax assessment.
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You had a superior home for the area.
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Possible tax purposes.
How We Do It:
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We have you fill out a questionnaire about your home.
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We do a physical inspection and measure the exterior of your home.
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We evaluate homes that sold pre-Katrina similar in size, location, and condition.
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We finish the report with the historic date of 8/27/05 approximately 2 days after inspection and email you a copy.
Give us a call or send an email!
Office: 504-888-3733
Danny Russo: 504-259-8587 or danny.russo@laappraiser.com
Pete Bua: 504-250-4869
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