Real estate appraisers usually estimate:

Real estate appraisers primarily focus on estimating market value, which reflects what property would likely sell for under normal conditions in an open market. Market value considers various factors, including the property's location, condition, comparable sales in the area, and current market trends. This valuation provides homeowners, buyers, lenders, and investors with a basis for making informed decisions about buying, selling, or financing property.

In contrast, just value often pertains to the legal value placed on property for tax purposes, while assessed value is specifically linked to the valuation that local governments use to determine property taxes. Replacement value, on the other hand, refers to the cost of replacing a property or structure with a similar one, which might not necessarily reflect its market value. Each of these values serves different purposes in real estate transactions, but appraisers primarily concentrate on market value for their assessments.