About Steve Rashotte Appraisals
Steve Rashotte, P. App., CRA, HBA
Steve Rashotte, P. App., CRA, HBA
Steve was born and raised in Kingston, Ontario. He attended Carleton University and obtained an Honours Bachelor of Arts Degree with a Major in History.
He then spent some time working in Calgary in the Telecommunications Industry and from there taught English as a second language in Seoul, South Korea.
Upon his return to Kingston, Ste
Steve was born and raised in Kingston, Ontario. He attended Carleton University and obtained an Honours Bachelor of Arts Degree with a Major in History.
He then spent some time working in Calgary in the Telecommunications Industry and from there taught English as a second language in Seoul, South Korea.
Upon his return to Kingston, Steve completed the required courses and became a Certified Realtor in 2012. It was during this time that he became interested in the appraisal side of the business.
While working in the residential real estate appraisal industry with a local appraisal firm, he completed the courses and received his CRA (Canadian Residential Appraiser) Designation by the Appraisal Institute of Canada in 2021.
Steve has been conducting Residential Real Estate Appraisals since 2017 and has truly found what he loves to do.
Steve has worked with the Federal Government, legal firms, insurance companies, private clients, mortgage brokers and Appraisal Management Companies, servicing both major and private lenders.
Mission Statement
Steve Rashotte, P. App., CRA, HBA
Steve is committed to his clients, understanding the critical importance of furnishing them with reliable and trustworthy data for each task.
He pledges to carry out comprehensive and unbiased research and analysis, ensuring the accuracy and dependability of his assignments.
Steve is dedicated to producing reports with meticulous attent
Steve is committed to his clients, understanding the critical importance of furnishing them with reliable and trustworthy data for each task.
He pledges to carry out comprehensive and unbiased research and analysis, ensuring the accuracy and dependability of his assignments.
Steve is dedicated to producing reports with meticulous attention to detail, always within the stipulated timeframe, consistently surpassing expectations in every project he undertakes.
Services & Service Areas
Services & Service Areas
As a CRA Designated Member in good standing with the Appraisal Institue of Canada, Steve is qualified to undertake any valuation or consulting assignemnt on dwellings containing up to four self contained family housing units or on individual undeveloped residential dwelling sites.
Types, Styles and Property Interests Include:
Freehold, Co
As a CRA Designated Member in good standing with the Appraisal Institue of Canada, Steve is qualified to undertake any valuation or consulting assignemnt on dwellings containing up to four self contained family housing units or on individual undeveloped residential dwelling sites.
Types, Styles and Property Interests Include:
Freehold, Condominium.
Rural, Urban, Suburban, Recreational, Remote.
Detached, Semi-Detached, Townhouse, Apartment Style Unit, Cottage, Mobile/Modular.
Single Family, Single Family with a Secondary Suite, Duplex, Triplex, Fourplex, Student Rentals.
New Construction, Renovations, Resale, Purchase Plus Improvements.
Service Areas Include:
Frontenac County, Lennox & Addington County, the United Counties of Leeds & Grenville, Lanark County, Prince Edward County, Hastings County, and Northumberland County, including the Kingston area.
Frequently asked questions
What is an Appraisal?
What is an Appraisal?
What is an Appraisal?
An appraiser provides an impartial opinion of market value at a specific moment in time.
Lenders, property owners and investors request appraisals for various reasons, such as mortgage financing/refinancing, pre-listing a property for sale, pre-purchase valuations, private home sales, home equity loans, real estate investments, separation divorce, relocations and estate purposes.
What is Market Value?
What is an Appraisal?
What is an Appraisal?
Market value is the most probable monetary worth determined at a specific date or under precisely disclosed conditions.
It represents the price for which the specified property rights are anticipated to be sold after being exposed to a competitive market for a reasonable period.
This assumes all conditions necessary for a fair sale, wi
Market value is the most probable monetary worth determined at a specific date or under precisely disclosed conditions.
It represents the price for which the specified property rights are anticipated to be sold after being exposed to a competitive market for a reasonable period.
This assumes all conditions necessary for a fair sale, with both the buyer and seller exercising prudence, knowledge, and acting in their self-interest, and further assumes that neither party is under undue duress.
The Appraisal Process
What is an Appraisal?
How Does an Appraiser Determine Market Value?
A free quote for your appraisal can be provided either through a phone call or email and it will be determined based on factors such as your property's location, size, features, and the purpose of the appraisal.
Once you confirm your decision to proceed, a site visit will be arranged with the appraiser. The site visit typically takes 30-4
A free quote for your appraisal can be provided either through a phone call or email and it will be determined based on factors such as your property's location, size, features, and the purpose of the appraisal.
Once you confirm your decision to proceed, a site visit will be arranged with the appraiser. The site visit typically takes 30-45 minutes and includes taking notes about the condition, quality of finishes, updates, photos and measurements.
Subsequent to the inspection, the appraiser will compile your report, which will then be emailed to you.
The comprehensive report, averaging 15 to 20 pages, will feature a property description, interior and exterior photographs, a location map, plot plan, sketch (dwelling size in square feet), and the relevant approaches to determining market value.
How Does an Appraiser Determine Market Value?
How Does an Appraiser Determine Market Value?
Appraisers use three primary approaches to determine the value of a property: the direct comparison approach, the cost approach, and the income approach. Each appraisal involves the use of one or a combination of these methods.
- Cost Approach: This method estimates the property's value by considering the cost of the land and the expenses as
Appraisers use three primary approaches to determine the value of a property: the direct comparison approach, the cost approach, and the income approach. Each appraisal involves the use of one or a combination of these methods.
- Cost Approach: This method estimates the property's value by considering the cost of the land and the expenses associated with reproducing or replacing the home and subtracting any depreciation. It is particularly applicable to new homes.
- Direct Comparison Approach: The most common method with residential appraisals, this approach focuses on comparing the subject property to similar properties in its market. Sales data is adjusted to account for value impacting differences between the sold properties and to bring them in line with the subject property.
- Income Approach: Primarily used for commercial properties, the income approach involves converting anticipated benefits such as cash flows and reversion into a property value. This method is especially relevant for income-generating properties.
What Sets an Appraisal Apart From a Real Estate Agent's Opinion of Value?
An appraiser maintains impartiality regarding the outcome of a property transaction, devoid of any vested interests.
Financial institutions, lawyers, courts, the Canada Revenue Agency and governmental agencies typically require an Appraisal Institute of Canada Designated
Member to prepare appraisal reports due to the rigorous educational
An appraiser maintains impartiality regarding the outcome of a property transaction, devoid of any vested interests.
Financial institutions, lawyers, courts, the Canada Revenue Agency and governmental agencies typically require an Appraisal Institute of Canada Designated
Member to prepare appraisal reports due to the rigorous educational training , mentorship and continuing education requirements provided by the Institute.
These Designated Members must have a bachelor degree from an accredited University and complete a minimum of seven specific university-level appraisal courses through the University of British Columbia's Sauder School of Business.
Generally, an appraisal report offers a more detailed analysis compared to a real estate agent's opinion of value.
Why do I need an Appraisal?
Appraisals serve various purposes, with the most frequent ones being a requirement for mortgage financing, addressing matrimonial matters such as asset division during separations, prenuptial agreements, capital gains calculations, relocation assessments, estate planning and settlements, pre-listing and pre-sale evaluations, power of sa
Appraisals serve various purposes, with the most frequent ones being a requirement for mortgage financing, addressing matrimonial matters such as asset division during separations, prenuptial agreements, capital gains calculations, relocation assessments, estate planning and settlements, pre-listing and pre-sale evaluations, power of sale or foreclosure proceedings, assessment appeals, replacement cost estimations, litigation support, and expropriation cases.
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