Appraisal Articles 2017 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. 

Explaining Adjustments to Homeowners

by Administrator on Jan 5, 2017 Homes 29 Views

Appraisers understand how they go about making adjustments to comparable sales for important differences that they have with a subject property. They know that when you are adjusting a comparable you pay attention to things like; quality of construction, condition, date of sale, financing, concessions, site size, site amenities, gross living area, bedrooms, baths, basement, garages, porches, patios, pool, flooring and remodeling. These are some of the obvious factors that may be adjusted for but there are other things like; casitas, gated access, views, community benefits, golf course use, homeowner association fees and SID / LID balances. Appraisal forms generally offer a standard set of adjustment factors but the list is a limited and at times it must be expanded on just to include all of the important differences. Homeowners ask me why the Koi Pond or the BBQ wasn't adjusted for. When you are analyzing a million-dollar home how much weight do you think a buyer gives to a

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Pedestrian Traffic is the Life's Blood of the Las Vegas Strip

by Administrator on Dec 9, 2016 Business Appraisal 60 Views

Appraisers often consider traffic count as part of their analysis their is a correlation between the demand for a retail property and its average daily traffic count. A property that has 30,000 vehicles per day passing it is simply not as sought after as one that has 100,000 vehicles per day. Properties like C-stores know just how important vehicle traffic counts are to their bottom line. In the same way, pedestrian counts are important to Las Vegas Strip properties. The Strip at certain points has literally millions of pedestrians passing over it during a 24-hour period. Even not so popular segments of the Strip can see 6,000 pedestrians an hour. Having or not having a strong pedestrian volume can make the difference in wild success or total and complete failure to a business.

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How Fast Can a Real Estate Market Change?

by Administrator on Nov 30, 2016 Market Conditions Articles 105 Views

If you have seen market cycle graphs with big swings in market values over time you have some idea of just how much change can happen in a real property market over time. Most graphs on market cycles display a sine wave that make it look like the up and down cycles are evenly spaced, so there is some uniformity to prices. The fact is that things like recession of 2008 has, in many areas and in many sub markets, kept prices down for an extended time. The residential real estate market in Las Vegas for example, saw prices for a 2,500 SF home increase from about $ 215,000 to about $ 515,000 between 1998 and 2007. That was a upward spike that was felt by everyone in the residential real estate market, multiple offers were received on almost every property listed and of course the upward movement was not sustainable.

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Real Estate Market Changes - How Important are They?

by Administrator on Nov 27, 2016 Market Conditions Articles 52 Views

Appraisers and real estate agents spend a significant portion of their lives watching changes in the national and local real estate markets. There can be a relatively large disparity between sub markets like the retail market segment and the industrial market segment in the same city or county. Market changes within each of the segments are usually tracked every few months, or per quarter, and published by a number of competing brokerage firms. Appraisers and brokers pay close attention to statistics / changes in market activity including but not limited to; employment, sales volume (total SF sold and number of sales), sales price per square foot (SF), new construction, the average rental rate per SF per month, the average direct capitalization rate and the average vacancy rate.

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Would Moving Be Profitable?

by Administrator on Nov 25, 2016 General Appraisal 62 Views

Appraisers are often asked this question with regard to the real estate owned by a business or a property owner. Of course, the answer for appraisers to this question is that profitability can have to do with many factors other than the simple difference that a real property move could make. If you make a move and it destroys a critical element of your business, then it wasn’t a successful move. Owners become compelled to answer the question about the profitability of moving when there is a party or multiple parties beating on their door with eye opening unsolicited offers.

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