Appraisal Articles 2019 Free Appraisal Articles for Appraisers and the Public
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by Administrator on Apr 1, 2017 • Industrial Appraisal • 382 Views
With the explosion of the cannabis businesses in this state (Nevada) and others there has come major investments in grow facilities. Buildings used for this purpose are basically industrial in nature and there are often a number of specialty improvements made to the grow facilities and some of those improvements add to market value while others do not. It's up to the appraiser to analyze the improvements and make determinations.
by Administrator on Apr 8, 2017 • Special-Purpose Appraisal • 469 Views
If you have been appraising for a while, or even if you have just been aware of what's happening in your local real estate market, you have probably seen some bank buildings come on the market. Clearly bank buildings are different from your standard office or retail buildings, they are in fact special purpose properties, and they may take much longer to sell given their obvious limitations and limited market. Most financial buildings contain one or more specialty improvements, usually in the form of teller areas, vaults, ATM bays and / or teller service drive-through lanes and substantial portions of large financial buildings are often just office areas or teller service areas that can usually be adapted for an office use. I have seen bank buildings successfully modified for use as medical offices, legal offices and even churches. Yes, there are physical and functional losses associated with using most financial buildings for alternate uses, but they are at least possible when com
by Administrator on Apr 10, 2017 • Renting / Leasing • 1040 Views
With regard to residential properties, a month-to-month tenancy usually has little impact on market value since the tenant does not control the property for long and residential properties are usually not valued by buyers and sellers based on the income that it produces. If the owner is having problems terminating the tenancy (a hold-over tenant) that is entirely different, but in most circumstances a short-term tenancy is not a problem. A month-to-month tenancy on a commercial property usually does not increase its value. The terms of a lease on a commercial building, if one exists, is thus very important and a month-to-month tenancy is not the kind of tenancy that most commercial buyers want to see. Thus, the market value of a commercial building is usually positively or negatively affected by the terms of its lease or leases. Yes, there are times when a month-to-month tenancy may be exactly what a buyer wants to see if they plan to terminate the tenancy and use the space them
by Administrator on Apr 10, 2017 • Estate and Probate Appraisals • 1285 Views
Appraisers often complete appraisal reports / valuations for the purpose of meeting IRS requirements. When real property changes ownership the sales price usually determines tax impacts, but there are many other events, like death, partial transfers, bankruptcy, divorce, probate, condemnation, gifts, donations and trust conveyances to name a few when the IRS wants to know what the value of a property was as of a date certain. Appraisals are thus often completed as of a retrospective date or as of a “date-of-death.” It is important for appraisers to ask and for clients to advise an appraiser that a report is required as of a date other than the current date. Having to appraise a property over as of another date is like having to do it entirely over again because the economy and the real estate market can change dramatically in 6-months.
by Administrator on Apr 11, 2017 • Reversions • 2887 Views
The value of an interest in real property that comes in the future is a prospective value. Usually an appraiser knows the date that a property interest will revert, since it's often based on the terms of a long-term lease. There are however other situations, like valuing a life estate, when an appraiser does not have a specific date. In these cases an appraiser has to rely on life-expectancy guidelines. The reversion may be certain but it may depend on how long a person or persons will live. There are other cases when a reversion depends on the action of a third-party to abandon a property or to change its use. Deed restrictions for example often state that if a property is no longer used for a highway, a railroad or another stated purpose that the property reverts to its original owner. Reversions of this type can create a real ownership mess when a railroad right-of-way for example is abandoned after 50 or more years of use. Highways are often abandoned when new ones with a
by Administrator on Apr 12, 2017 • Commercial Appraisal • 510 Views
As I search through data on real property sales the odd commercial condo always presents itself in the list of sales data. What always surprises me is that as an appraiser I expect to see the sales price per square foot (SF) to be lower than the attached or detached building sales but surprisingly the condo sales are at or above those of the other types. It appears from the casual observations of an appraiser, based on sales prices per SF, that commercial condominiums are not being looked upon in the Las Vegas / Henderson Nevada market as a second-class option.
by Administrator on Apr 12, 2017 • Real Estate • 1929 Views
Let me start by saying that I'm not a sportsman, and while I have attended some Phoenix Suns basketball games and the odd football and hockey game in the past I'm simply not spellbound by the games or the players. That doesn't mean that I do not see their popularity. It's common knowledge that the mix of gaming and entertainment in Las Vegas has turned decidedly toward entertainment over the past years. That's why places like the Container Park have been developed and why shopping square footage continues to expand.
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