What items do home appraisers seek to find that would give higher home values?

The The quick and easy answer would be comps (comparable homes for sale in your area) and location. We all know the first rule of real estate is location, location, location. A home across the street that might be exactly the same as yours could be valued at more because it might fall in a better school district or may not have railroad tracks behind it.

An appraisal is subjective but all appraisers should follow similar guidelines. That is to say 2 different appraisers could come to your house the same day and give you two different values. They try to find homes similar in size, location, and appeal to yours. But as we know all homes are not the same. Even in a development built by the same builder, homes vary in size, location, features, views, lots etc. The appraiser will adjust the homes based on the items. Usually they have fixed costs for things, like a home with an extra half bath would add $5000 or a fireplace would add $2500 to the value. There are also more subjective items like condition, build quality, view etc. This can vary greatly and is based on the appraiser and again comps in the area.

Mortgage Market Commentary

This week is light on economic reports, as investors will be focused on the large Treasury auctions June 9-11, particularly the longer term 10yr and 30yr offerings Wednesday and Thursday. With recent economic data generally favorable, investors believe the Fed will not increase it's purchases of MBS (mortgaged backed securities) or Treasuries, so the level of demand for the new bonds will be closely watched. The most significant economic data will be the Retail Sales (which account for 70% of economic activity) report released on Thursday, along with Jobless Claims and Business Inventories. Wednesday is the day for the Mortgage Bankers Association's weekly survey of mortgage applications which provides information on purchase activity and refinance demand. 30yr fixed mortgage rates jumped last week to 5.45%, from a low of 4.85% in April; which may sideline consumers planning to refinance or purchase their first home. Costs are now higher for home buyers than they were in December. However, great 1st time home buyer incentives still exist and will off set any increase to rate and costs. Also, with the price of homes still dropping, NOW IS STILL THE TIME TO BUY!!