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Articles by November, 2016

Would Moving Be Profitable?

by Administrator on Nov 25, 2016 General Appraisal 1435 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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Real Estate Market Changes - How Important are They?

by Administrator on Nov 27, 2016 Market Conditions Articles 1248 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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How Fast Can a Real Estate Market Change?

by Administrator on Nov 30, 2016 Market Conditions Articles 1352 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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