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Articles by December, 2014
Vacant Land Appraisals in Rural or Outlying Areas
by Administrator on Dec 14, 2014 • Vacant Land Appraisal • 725 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.
Are Low Appraisals Still Hurting the Housing Market ?
by Administrator on Dec 14, 2014 • Market Conditions Articles • 2039 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.
Recreational Vehicle Parks (RVPs) versus Mobile Home Parks (MHPs)
by Administrator on Dec 28, 2014 • Special-Purpose Appraisal • 710 Views
I got a phone call from someone who asked me about the differences between RV parks and mobile home parks from an appraisal perspective. We talked about the fact that mobile home parks have a relatively steady, reliable cash flow while RV parks usually have only seasonal demand and seasonal income, of course there are exceptions. The known, reliable income stream derived from most MHP's is of course the reason why buyers often pay a premium for them. Of course MHP's are not always valued higher than RVP's it’s just a generalization. Some RV parks maintain high occupancy rates throughout the year, especially those in the southwest like those near popular attractions like the Las Vegas Strip. Appraisers understand that these property types are purchased for their income production, so one of the most important considerations is net operating income.
The Importance of Big Data to Small Town Appraisers
by Administrator on Dec 28, 2014 • Technology • 1710 Views
When you hear and read that more data is available to everyone and that it is and will in the future be analyzed using superior analysis tools, I'm sure that those statements are true. There is already an AVM program available to local Realtors here in Las Vegas that provides factual property information, selects comparable sales, several pages of market information and the model concludes a value based on a great deal of multiple listing service (MLS) information.
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