Appraisal Articles 2014 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 artices on appraisal and real property topics to appraisers and the public.  Authors are invited to sign-up and submit related original articles for approval. 

Vacant Land Appraisals in Rural or Outlying Areas

by Administrator on Dec 14, 2014 Vacant Land Appraisal 2 Views

Land is generally appraised using the sales approach, it is the most appropriate / pertinent of the three appraisal approaches for that purpose, and valuing land in Pahrump is not dissimilar to valuing land in other parts of Nevada. When buyers and sellers established vacant land values in various rural areas over time they considered the physical and economic factors important to them. Are these factors different in one area from those in other communities? While many real property factors are deemed important by market participants in almost all markets, like paved roadway frontage, site size and distance from employment, there are other factors that vary in importance from one market to another.

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Are Low Appraisals Still Hurting the Housing Market ?

by Administrator on Dec 14, 2014 Market Conditions Articles 8 Views

If you are a real estate agent and an appraiser, like I am, you get to see and hear a lot more than most appraisers relating to what real estate agents are thinking and saying though their newsletters and trade articles, and it's clear to me in late 2014 real estate agents are still unhappy that some portion of their deals are not being appraised at their negotiated sales price.

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A New Direction for RICS

by Administrator on Nov 19, 2014 Appraisal Ethics 16 Views

RICS the Royal Institution of Chartered Surveyors, has for many years been out of step with its U.S. members holding to its Red Book as its standard. The Red Book describes RICS professional standards, and it "contains mandatory rules, best practice guidance and related commentary for all (RICS) members undertaking asset valuations." My experience with Red Book standards have been positive ones, and I believe that the Red Book is a better standards document than the Uniform Standards of Professional Appraisal Practice (USPAP) that is currently modified every 2 years and then adopted by states as appraisal law.

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Appraiser Bids for Appraisal Assignments

by Administrator on Nov 18, 2014 Business Operation 26 Views

Appraisers often get phone calls from potential clients who are shopping for an appraisal service and want a bargain basement assignment fee. It's just part of the competitive nature of the appraisal business. I bid on appraisal assignments based on the amount of time that I think an assignment will take me to complete and based on my judgment of the difficulty of the assignment. I'm often asked by prospective clients on their initial cold calls "what do you charge for the appraisal of an office building?" Callers ask the question as if all office buildings are the same, but an 8-story building with 30 tenants is significantly different from a 1-story, single user, 5,000 square foot office building and the work that goes into completing reports on each of them is significantly different.

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Perspective, Bias and Appraiser Influence

by Administrator on Nov 16, 2014 Appraisal Ethics 24 Views

Appraisers don't talk about it much but how they are introduced to an assignment can make a difference. If for example an appraiser is hired by an investor the investor will talk about how important it is that the appraisal is conservative and realistic. Investors generally want conservative values much like a bank, and they will do what they can to bias an appraiser to their view. Sellers usually have an opposite perspective in that many of them are concerned about how much money they can get from the sale of their property. They are often looking for the highest price that they can possibly net from the sale of a real property and many owners won't even order an appraisal report because they don't want to know what the opinion of an appraiser is, they have a value in their mind and they don't want to hear anything else. I have had sellers put my appraisal in their desk drawer because it didn't meet their "needs."

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