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 Your Real Property Taxes too High or too Low?

by Administrator on Jun 20, 2018 Property Tax Dispute 3 Views

I have appraised properties and found on occasion that the assessments and taxes being paid by the owner are extremely high or extremely low. It’s one of those things that just jumps out at you, if you have completed reports on similar properties you get used to seeing assessments and the taxes paid fall into a typical or normal range. Owners get into a pattern of paying their taxes without question. Many run businesses and they just don’t think about property taxes. If the taxes are $ 6,000 per year or $ 16,000 per year, they just make the payment and think about the size of their tax deduction and they don’t consider that their property taxes may be $ 10,000 higher than they should be annually.

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Mortgage Interest Rates and Appraisals

by Administrator on Jun 18, 2018 Market Conditions Articles 4 Views

If you are lucky enough to find a home, especially in one of the high housing demand states, you should be happy that rates aren’t 8.0% or higher. I know that sounds painful, no one wants to hear that a situation that is becoming worse is not that bad, but I can honestly say that I would be happy with a 4.75% to 5.25% mortgage interest rate. If you have ever taken a 30-year home mortgage with an 8.0% to 10.0% interest rate, like I have, you can put recent increases in perspective. If you have only been around to see 3.31% to 5.0% mortgage interest rates I’m sorry to inform you that you are out of touch with reality. It doesn’t take much to get back to higher rates, probably not as high as the record 18.63%, but higher than the near 5.0% that we have today. Those who decided to wait for rates to fall may never get another chance to buy or cash out for years.

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Appraising Marijuana / Cannabis / Weed Grow Facilities

by Administrator on Jun 18, 2018 Special-Purpose Appraisal 9 Views

There is an explosion of cannabis businesses in Nevada, as in other recreationally approved states, and major investments are being made in grow facilities. Buildings used for this purpose are usually modified industrial building and there are often a number of specialty improvements that must be made to them. Some of the improvements add to market value while others do not. It's up to a real property appraiser to analyze the improvements and make determinations about what is contributory and what is not.

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Properties with Problems

by Administrator on Jun 15, 2018 Selling 19 Views

There are times when appraisers run across a property or properties that have multiple problems. When a property has functional issues, like a poor layout, that can be the basis for a downward value adjustment in a report. When you additionally have other negative factors like; significant depreciation due to physical age, electrical issues, plumbing issues, equipment problems like faulty HVAC units and locational issues you can be working on a property that has so many problems that market value can be significantly decreased. Appraisers have to gauge the impact of each building problem. If your subject property is an office building that has almost a star-like shape with lots of corner areas that create dead or useless area, those areas are going to cause a loss in value.

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Appraisal Complaints and Litigation II

by Administrator on Jun 4, 2018 Business Operation 18 Views

It's my opinion that that it's very difficult to have an entire career in the real property appraisal business without having at least a complaint or two or maybe even a legal entanglement. Not everyone gets caught up in a messy situation while licensed, but a lot more appraisers have had a problem than are willing to admit. If you make even the smallest mistake as an appraiser you can catch a regulatory complaint or get sued by a lender. When you are dealing with opinions of value there always seems to be someone who is not happy with your results and those are the people who will try to find something wrong with what you did or how you did it.

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