Residential assessments are evaluations conducted to determine the value of a home or property. These assessments are typically performed by licensed appraisers or assessors and consider various factors, including the property's size, location, condition, and recent sales of similar homes in the area. The results help homeowners, buyers, and lenders understand the market value of the property. These assessments are often required for various purposes, such as securing a mortgage, refinancing, or determining property taxes. They provide an objective basis for financial decisions and ensure that properties are fairly valued in the real estate market.