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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. 

Appraising Small Motels

by Administrator on Jul 7, 2016 ROOT 23 Views

Small motels are often owner operated without national affiliation and while challenging they are not as daunting as there much larger franchised limited and full service big brother operations. Appraisers understand that motels are valuable because they generate income and they are usually analyzed as "going-concerns," and all three approaches to value are of course considered. Small motels are usually older facilities at least they are in my market. Newer motels here are usually larger than the 10 to 30 unit roadside motels that are disappearing or already gone from many communities. There are some of the small operators who are still hanging on, but it’s a smaller and smaller group. Larger facilities can offer common area amenities like a large reception area, breakfast, conference rooms and some even have restaurants and / or retail areas.

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Geodesic Dome Residential Appraisals

by Administrator on Jun 14, 2016 Homes 33 Views

If you are in the appraisal business for any amount of time you will be asked to appraise atypical or even unique structures like earth-sheltered, A-frame, pyramid and geodesic dome improvements. Since structures like a dome are not typical in the market the first hurdle you have to jump is that of competency. You have to be able to discuss the fact that you have access to the data necessary to produce a credible result. So if you have access to the local Realtor Multiple Listing Service (MLS) and a cost manual you basically have access to most of the data available. Of course you still need geographic competence and it is helpful if you have appraised atypical homes in the past.

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Cutting Edge Solutions for the Appraisal Industry?

by Administrator on Jun 13, 2016 Appraisal Industry 48 Views

Think about it, how would you go about changing the current state of the appraisal business to make it better? Streamline reports? That is code for shortening the form, or shortening narratives to the “10-page report” format and it’s just another way to say that data we now believe to be necessary will no longer be included. Do users of appraisal reports really want less information reported? It sounds like a giant step backward toward the 1-page report. It’s my opinion that consumers don’t really care about the appraisal process, they just want a market value opinion and oh yes I have to be able to defend it in court or in front of the regulatory board if the opinion is challenged.

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How Much is My Million Dollar View Really Worth?

by Administrator on Jun 12, 2016 Residential Appraisal 35 Views

Views are worth what market participants are willing to pay for them. When demand is high and buyers are competing for properties they will often pay significantly more for a view of the mountains, the city or a body of water. When demand is relatively low then buyers look at a view as an aesthetic that they may enjoy but not something that they want to pay a large premium for. So the premium that buyers are willing to pay for a view amenity has to do with the market. How do you know whether a view amenity will add $ 10,000 or $ 100,000 to a property's value? It's all about finding comparable sales. If you have sales in the same neighborhood that have no view that sold for $ 250,000 and a similar property sale with a view that sold at $ 290,000 the difference may be attributable to the view. Appraisers now have access to amazing amounts of data and it's not as difficult as it used to be to recognize property differences.

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Does Completing Appraisal Reports Expose You to Litigation?

by Administrator on Jun 4, 2016 Business Operation 41 Views

The simple answer to this question is yes, you are almost always exposed to potential litigation when you accept an appraisal assignment. You can do a number of things, some discussed in this article, to mitigate your exposure as an appraiser but you cannot make yourself or your appraisal reports "bulletproof." Appraisers attempt to limit their litigation exposure by purchasing errors and omissions insurance, but it's like any other insurance, you can only afford to keep it if you have no claims. So paying attention to business details may be one of the only positive things that an appraiser has control of to limit their liability.

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How to Handle Strange Assignments

Nov 21, 2015 • 169 Views

Feasibility Studies and Appraisers

Aug 6, 2015 • 201 Views

Probate Appraisals

Aug 15, 2015 • 251 Views

Imperfect Market Information

Nov 24, 2015 • 151 Views

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