Appraisal Articles 2019 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. 

Changing Report Conditions and Retrospective Values

by Administrator on Jul 27, 2019 Business Operation 11 Views

It’s relatively easy to find comparable sales for residential, MF residential and commercial properties through research via one of the many search engines, but what happens when you have to go back and research sales that are 2 years or even 5 years old? If you have built a database or if you subscribe to one that has historical information then you may be able to go back in its history relatively easily and find comparable properties from years before. If you are good you can pull up all of the sales from say the 12-month period before your date of value and review them. The GLVAR MLS even keeps the photos so you can not only look at the sales detail you can look at the exterior and interior photos of you comparable sales. That can give you a lot of confidence especially if you have that kind of data and photos on your subject.

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The Latest Automated Valuation Model (AVM) Claims 2019

by Administrator on Jul 26, 2019 Automated Valuation Models AVM 77 Views

Well I knew that sooner or later I would see the results of some AVM claiming a very high degree of confidence that it had estimated the market value of my home, and today someone actually did. My mortgage company sent me a home value estimate from www.Xome.com that claimed a 94% confidence that they have correctly estimated my home correctly. I have been a broker and a certified general appraiser for 40 years and I would be hesitant to make that claim, yet because www.Xome.com is using “investment-grade” analytics, whatever that is, they think that they can.

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Pedestrian Count versus Vehicular Count in Las Vegas

by Administrator on Jul 25, 2019 Las Vegas Strip 34 Views

Anyone who knows about retail sales will tell you that you have a much better chance of selling a pedestrian something than selling a person passing by in a vehicle. When you are walking at 1 mph or so you can’t help but look at a retailer or a restaurant’s offerings, but if you are driving by at 25 mph or 45 mph you are lucky if the driver and passengers even see your retail establishment. In Las Vegas pedestrians are usually in tourist areas because they want to be there, and most have money to spend because they are on vacation. Vehicular traffic on the Strip is made up of employees going to work, sightseers who can’t or don’t want to stop, advertising vehicles, destination drivers and taxicabs. You can be on the Strip and have 75,000 vehicles per day or more passing your location, but few if any will stop and park to get into your business.

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Appraising SFR Homes with Commercial Zoning / Planning

by Administrator on Jul 24, 2019 Highest and Best Use 34 Views

There are many homes located in Clark County, Nevada that adjoin primary or arterial roadways and some have been zoned and / or planned for a commercial purpose. Appraisers understand that if a property has commercial zoning and / or planning in place that zoning or planning is not necessarily its highest and best use. That’s why a certified general appraiser is employed to analyze the highest and best use of a property, it may appear to some to be obvious but in fact it may not be. While it is possible that an existing residential use is more profitable than the land “as vacant” and available for redevelopment, there is no way of knowing that without having researched land values. Some appraisers don’t want to consider the “as vacant” condition scenario, it mean that you have to complete a separate land valuation, but without having completed it how would you know whether or not the land is worth more “as vacant” or the property is worth more “as improved?”

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Las Vegas Strip and Near Strip Transition Values

by Administrator on Jul 22, 2019 Market Conditions Articles 34 Views

Some properties located near or on the Las Vegas Strip are now ripe for development in that they could be transitioned into hotels, condominiums, high end retail or resort casino support uses in the near future. For a long time, prior to the 2008 stock market based recession, there were many Las Vegas properties approved for vertical development, some actually made it to development right as the market failed. The real estate market has fought its way back and I have recently seen more marketing flyers circulating that display renderings of vertical buildings on them. The Las Vegas Real Estate market wants to return to the days when there were many announced and actually hi-rise buildings under construction.

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