One of the most important things that can have a negative effect is the age and condition of home systems and appliances (HVAC, plumbing). If the local market is in decline, that will also hurt the appraised value of your home. The location is the one that decreases the appraised value of a home the most. This is due to the fact that most homes rate within 20 percent of similar homes in the area.
One of the most important factors that reduces the appraised value of a home is deferred maintenance. Maintaining a home is expensive and time-consuming, but neglecting standard maintenance can become a costly problem. Proximity to empty, poorly maintained homes or foreclosures can also hurt your home appraisal. They generally lower the values of properties in the neighborhood because these houses can be very ugly or even spaces for squatters to enter or mischief to occur.
Unfortunately, one of the most important factors reducing a home appraisal is somewhat out of your control.
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