JUDGING VALUE WITH A WOMAN'S VIEW: FROM HOUSES TO QUILTS, WOMEN APPRAISERS SHOW THEIR WORTH

Kathy Schlosser checked her digital camera, which she uses while doing a house appraisal.

What do you think it's worth? If you were going to sell this, what would you ask? I need to insure this, what's it worth?

You've probably asked one of those questions at some time or another. The item you're questioning could be anything from a piece of Grandma's jewelry to the house you've poured your life savings into.

Determining the value is a lot more complicated than most people think.

Donna Diebold and Kathy Schlosser were both realtors when they ventured into the appraisal business. After working for an appraisal firm, they decided to open their own business in 1995.

They were one of the first women appraisers to open their own business in the area.

Schlosser attributes their success to a lot of hard work and many blessings from God.

"A home is the largest single investment most people will ever make," she said, and many people only purchase a house once or twice in their lives.

"The hardest thing about appraising a piece of property is getting people to understand what's involved," said Diebold.

Cost does not equal value said both Diebold and Schlosser. The three most important words in determining real-estate values are location, location, location.

A common misconception is the difference between maintenance costs and added value. A new roof falls under the category of maintaining the value of property.

A $30,000 swimming pool doesn't necessarily raise the value of a property by that amount. The next owner might like the property but dislike the pool. In this instance, the pool would devalue the property for the new owner.

The process in determining the value of a piece of property is similar to determining the value of any object. Property is inspected for age, size, condition and history. All areas of appraisal involve a good deal of research.

Before placing a value on a piece of property, other similar properties must be reviewed to determine the fair market value. This is where location comes in.

"A house in one area may be worth $100,000, but in another area it'll only bring $75,000," said Diebold.

Evelyn Boardman of Madder Rose Antiques had much the same to say about the appraisal of antiques. Most people have antiques appraised for insurance purposes.

Once again, remember that cost does not equal value. Antiques are insured for replacement value only.

"Antiques are bought to add to one's lifestyle," said Boardman. Because it is not a necessary purchase, people are not as locked into a price.

Boardman places condition at the top of the list in determining value. Also important is the rarity of a piece.

Finding the fair market value of an antique involves a good deal of accurate research. After the piece has been inspected for condition and to determine age, two or three additional pricing guidelines will be used.

Location is not a determiner in the appraisal of antiques. The value of an item remains the same whether in Missouri or New York. What the piece might sell for, however, is affected by location as well as supply and demand.

For Boardman, the joy in dealing with antiques comes with the history of a piece.

"There are wonderful stories surrounding some items," she said, "and you always wonder what the story of other pieces might be."

Velma Stone of Chaffee is a certified quilt appraiser. She too went through a schooling and testing process and must be re-certified every three years.

Stone is one of only two such appraisers in Missouri certified by the American Quilt Association.

Quilts are like pieces of art but often do not have a traceable record like a painting or piece of jewelry might have. When determining value, the age of the fabric and the condition are extremely important.

Stone has been in the quilting business for a number of years.

"I bought and sold quilts and was very interested in old fabrics before I started appraising," she said.

Most quilts are appraised for insurance purposes. Stone cautions quilt owners, "I must see and handle a quilt to determine its value. I can't tell anything from a pile of ashes and a few scraps."

All appraisers operate under a very ethical code. An appraiser cannot undervalue an object hoping to get a chance to purchase it.

"Quilt appraisers are not allowed to purchase what they appraise," added Stone.

Being able to come into contact with so many wonderful works has been a source of great satisfaction for Stone.