Appraisal Articles 2018 Free Appraisal Articles for Appraisers and the Public

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Appraisal Articles is an Internet website dedicated to providing free information in the form of articles on appraisal and real property / real estate topics to appraisers and the public.  Authors are invited to contact us and submit related original articles for approval. 

Are their REO & Short Sale Appraisals in your Future?

by Administrator on Aug 10, 2018 Market Conditions Articles 7 Views

Just when you thought you had escaped the nightmare, they pull you back in! If the housing market in California is an indication of the future of the housing market then you had better start digging out your old reports on distressed sales. Many are predicting a downturn in the real estate market cycle that could cause a lot of pain. When you think about California, New York, New Jersey and other states where demand has been hit by the interest deductibility limits it seems only reasonable that fewer buyers want to jump into those markets. You have to have a great deal of money, and want to give it away, to purchase a home in a state that has outrageously high taxes that are no longer fully deductible. For those who have been avoiding those taxes for a long time things are changing.

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What Criteria do you Use to Select an Appraiser?

by Administrator on Aug 2, 2018 Business Operation 7 Views

One of the first things you have to realize when you are shopping for a real estate appraiser is that even in a relative larger city the appraiser “pond” isn’t really that large. If two appraisers don’t know one another there is a very good chance that they have met in an educational class, in court, at a tax or planning commission hearing, at a City or County bid offering or at an appraisal organization meeting. If they haven’t met face-to-face appraisers have often received copies of their competitor’s work from clients, attorneys and brokers who use reports as a marketing tool. Brokers use real property appraisals as a way to prove that the asking price of a listed property is correct.

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Downtown Apartment Building and Condo Appraisals

by Administrator on Jul 26, 2018 Condominiums 3 Views

Downtown Las Vegas has been adding a significant number of apartment units and condo units over the last few years and this year (2018) it’s adding several hundred new units due to the construction of properties like; 901 N. Fremont Street, 353 E. Bonneville Avenue, 1501 S. 3rd Street and others. While the jury is still out, early reports indicate that the apartment / condo units that have been on the market are finding a strong market and units are being absorbed even though the new properties have relatively high asking prices and rental rates. Hi-Rise condos, many of which are just off the Las Vegas Strip, still create a market on their own that is strongly influenced by national and international visitors to Las Vegas while Downtown demand has more to do with locals. That’s why hi-rise condo prices on and near the Las Vegas Strip generally fall between $ 220 per SF of gross living area (GLA) and $ 700 per SF GLA, some with significant monthly fees.

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Buying a Tavern and Need an Appraisal?

by Administrator on Jul 6, 2018 Business Appraisal 33 Views

The initial reaction of most appraisers to that comment is to ask “are you buying the real property, the business entity or both?” It’s amazing when at times you discover that a buyer doesn’t even know what he or she is wanting or trying to buy. For appraisers the assignment is dramatically different if it’s just a real property appraisal versus a business appraisal that includes the real property. Most qualified real property appraisers wouldn’t have a problem completing an appraisal of the real property. If the party needs a business-only appraisal most real property appraisers would pass the client along to someone who appraises businesses. An assignment can however swerve quickly if it has to include both the real property and intangible assets like licenses and business income and it’s then described by the client as a “going-concern” appraisal including the real property. That usually means that it’s not just a real property appraisal that’s needed, it’s real property

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The Las Vegas Real Estate Market 2018

by Administrator on Jul 5, 2018 Market Conditions Articles 25 Views

The following graphic, based on Greater Las Vegas Association of Realtor data, says it all. The number of sales (in purple) are falling while the average price of a home (in green) is rising. As I discussed in a previous article this change in market conditions is playing havoc with the market and it has since 2015. For sellers, they want to increase the sales price of their homes in keeping with the trend. For buyers they are having to bid higher and higher to purchase the home that they want.

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