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Articles by July, 2015
Appraised Value in a Changing Market 2015
by Administrator on Jul 9, 2015 • Market Conditions Articles • 1596 Views
Some real property markets change slowly, especially those that contain more supply of a specific property type than demand, and it's not unusual to see a relatively small increase or decrease in property values based on the sales approach or the income approach. For appraisers these markets make for difficult times. Real property owners and potential buyers realize that there is little movement in prices and few transactions occur, that generally means fewer appraisal reports are ordered.
Litgation Support Case Record (Additional Qualification)
by Administrator on Jul 13, 2015 • ROOT • 2210 Views
For a long time I used a self-created format for presenting my court experience. The format that I used was very detailed and it included information on the judge, the attorneys, the case number and the specific type of case. It was my belief that attorneys looking at my court history would want that level of detail, but I found some asking for a "standardized" presentation of the data. I asked for direction and attorneys pointed me toward a new, more summarized format. I'm not sure how long this format has been around, maybe it's been used for 20-years and I just came upon it. Either way I wanted to pass the information on to other appraisers who want to summarize their court experience for presentation to attorneys without following my route. If you have information on an alternate format I would appreciate you passing it along to me so that I can share it.
Appraiser Continuing Education
by Administrator on Jul 15, 2015 • Appraiser Education • 1466 Views
It's almost time for me to renew my appraiser's license again, so it's time for me to take 30 more course hours. Since I have been doing this since 1991 when licensing began I have taken about 15 hours X 24 years = 360 hours of continuing education that I estimated have cost me over $ 6,000. That doesn't include my initial appraisal education, my traditional education, conferences or presentations as an instructor.
Appraisers are Skeptics
by Administrator on Jul 20, 2015 • Narrative Writing • 1553 Views
Real estate appraiser are Skeptics because they simply don’t believe most of what they hear. They are often bombarded by biased opinions, sometimes they are even supplied with sales information that favors a certain outcome. As I have stated before, I am open to the review of any information, supplied by biased parties or not. It doesn’t make me less of a skeptic because I accept and review the information. Thus, being a skeptic as an appraiser means that I don’t just take what other people supply without doing my own research. Well supported evidence that I find and confirm is what I base my value opinions on, and it all goes into my work file. I am always amazed when I find that an appraiser has not put into his or her work file the results of their initial research. When I search I put at least the summary information that displays those results. If I’m looking at land sales and the initial results display 100 properties, I download those search results and save them.
The Value of an Appraisal
by Administrator on Jul 24, 2015 • General Appraisal • 1689 Views
Markets improve, sometimes after years of price decreases and long periods of flat, stagnated prices. It's the kind of change that real estate investors and speculators wait patiently for. If you want to make money in real estate you don't buy after prices have hit their all-time high, you buy when prices are low and the market is moving up. When the real property markets begin to change I always get phone calls. "Can you tell me what the value of retail buildings are?" Or "can you tell me how much of an increase there has been in the northwest vacant land submarket?" I understand that there are owners who may be getting phone calls and even offers that they have not received in years. It's great to see the activity, there is nothing worse than flat market that offer no gains year in and year out.
Bidding on Appraisal Assignments
by Administrator on Jul 24, 2015 • Business Operation • 594 Views
Having bid on hundreds of appraisal assignments over the years I have a few facts and opinions about submitting them that I would like to share. Since I’m sure this process varies all over some of my suggestions may not be useful to all, but if you can get something out of it then I have done my job. There are some simple bids that I have sent to private owners and others by email that have stated terms like this; “I will appraiser the current fee simple interest in your property located at XXX Main Street, Any Town, NV 89000, being a 40,000 SF GBA industrial warehouse and land, for $ X,XXX. The appraisal shall be completed on or before May 1, 2015. The fee shall be paid ½ in advance and the balance upon delivery.” If the potential client wants to proceed I usually send a standard written engagement letter that restates the email terms and adds some more detail.
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