The numerous fires that have been burning in the Santa Barbara/Montecito and Southern California areas have displaced hundreds of people, burned countless thousands of acres, and have caused property damage in excess of $1 Billion. This is a far reaching disaster that has unfortunately impacted many people. For most homeowners, this is a devastating loss, and the thought of an Insurance Appraisal is the very last thing on their minds.
An Insurance Appraisal can be either retrospective (retroactive appraisal), or prospective, and is a replacement cost analysis which provides an accurate estimate of the amount of insurance required to replace each structure and/or amenity exactly as it was on the effective date of the report. The structure replacement cost and land values are clearly identified and divided, and this estimate helps provide an insurer with the most accurate structure replacement cost coverage or used to support a damage claim assessment.
When the decision is made to rebuild, a new construction loan and new construction appraisal will include a detailed examination of all the proposed construction plans, and a projection of both costs and an estimate of value at completion of the new home construction project.
Professional Appraisal Associates has been specializing in the Santa Barbara and Montecito areas for several years now, and has performed numerous appraisals on large-scale ranchette and multi-acre estate properties with values in excess of $25 Million.
Most recently, PAA has been performing special retrospective insurance appraisals and new construction loan appraisals for the unfortunate fire and flood damaged homes throughout Santa Barbara County. In addition, we have performed numerous California Wildfire property inspections and verifications, to ensure there was no damage to properties now in the underwriting/escrow process.
PAA is now using state of the art computer imaging and GIS applications including Satellite/Aerial viewing, the latest enhanced street mapping tools, and new GPS locating systems to assist in the most recent retrospective appraisals we have been performing for insurance companies for Santa Barbara/Montecito fire damaged properties. We are also using new state of the art engineering and construction cost data software programs to help project costs for the new construction loans.
We are your Santa Barbara County specialists for insurance fire damage, flood damage, and new construction loan appraisals for the California Wildfire damaged properties. For more information about Professional Appraisal Associates, visit us at our Website at: ProfessionalAppraisalAssociates.com or feel free to call us at (805) 688-5033.