Many of the estates and private clients we work with own property they have held for decades. In a market that has changed as quickly as Connecticut's has since 2020, the value an owner has in mind, or the number on an old appraisal or tax card, can be well out of date.
For estates, the date-of-death appraisal establishes the stepped-up basis heirs will rely on when they sell. Accuracy matters, and in a fast-moving market that means using sales and rents from around the date of death, not today's market or the market of five years ago.
For owners thinking about gifting property, a partnership buyout or a sale, a current independent appraisal gives everyone the same starting point. When the market is this tight, that shared, well-supported number is often what keeps a transaction or a family plan on track.
These notes are general market observations, not an appraisal of any specific property.