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Articles by July, 2017
Appraising a Marijuana Dispensary
by Administrator on Jul 3, 2017 • Business Appraisal • 1476 Views
When you think about it appraising a marijuana dispensary is not that much different from appraising a restaurant or a taco stand. You can sell 40 different kinds of weed and paraphernalia but it's all about what you pay for the product, your expenses and what you can sell it for. In other word it's all about net profits. Business appraisers try to establish historical evidence by looking at income and expenses over several years. If you know what to expect over the next several years you know what you can afford to invest as a buyer and get a return on your time and money.
Why Don't You Know? You Are The Appraisal Expert!
by Administrator on Jul 11, 2017 • Appraisal Ethics • 382 Views
I often get calls from past or potential clients asking me about a specific property type or a specific area of town, they want to get some idea about the value of a property that I know absolutely nothing about. I have found that the more that you know and tell them (in general terms) the less likely you are to get an appraisal assignment. If they ask you about industrial properties in the Southwest and you tell them about the market, the property value range, the median value, the typical rental rate, etc. you will have put some of their issues to rest. I have heard "I will think about ordering that appraisal and get back to you."
Where Did Those Comp Photos Come From?
by Administrator on Jul 12, 2017 • Business Operation • 422 Views
Appraisers acquire their comparable sales phones in different ways. I generally take my comp photos when I go out to inspect / observe a new subject property. That means I have to research and identify possible comps before I have even seen a subject property, so there are some photos that can end up being unusable. Better to identify and photograph more than you need right?
Is it a “Property Inspection” or a “Property Observation?”
by Administrator on Jul 12, 2017 • Inspection • 344 Views
What many clients don’t understand is that an appraisal inspection is a cursory observation of a property and not a detailed examination of it. In Nevada the state licenses building inspectors who provide a detailed examination / report on the structure and equipment and sometimes they even perform tests for things like lead-based paint or in the past for Ozone. Appraisers have been starting to use the work “observation” instead of “inspection” to clarify what they are actually doing. Appraisers identify things like construction type, condition, finishes (like ceilings, flooring, lights, HAVC, electrical / plumbing systems), offsite improvements, onsite improvements, and build-out detail.
Appraisal Trainees – Creating Your Own Competition
by Administrator on Jul 12, 2017 • Appraiser Education • 1042 Views
Most appraisers understand that trainees are great, they can fill in forms (or they can after being trained), they can inspect / observe a home (with training and supervision) and they can answer phones and print reports. They can be useful especially to a larger office that has a lot of appraisal related business activities. For smaller appraisal offices trainees are often in the way. There’s often little or no office space for them. The office slows down when appraisers take time to deal with the training of new people. It can be quite painful for a small firm to take on a new person.
The Need for a Client Blacklist
by Administrator on Jul 12, 2017 • Business Operation • 522 Views
Appraisers are certainly familiar with blacklists, and the fact that there is always someone out there trying to find a reason to put you on one and exclude you from receiving business. It often happens because of someone else's bias against you. Often, it's a bank, appraisal management company (AMC), attorney, a government agency or an accountant that decides for one reason or another that they don't want to use you and thus no one should want to use you. It's Appraisal 101, learning about what business you can actually do versus what business exists, its two different things. On the other side of the equation appraisers decide which assignments they want to accept based on the assignments that they are offered. Some appraisers are less discriminating about the assignments that they take than others. The choice not to "prequalify" or investigate a potential client can turn into an appraiser’s worst nightmare.
Home Improvements You Want That Don't Always Add to the Sales Price of a Home
by Administrator on Jul 21, 2017 • Buying • 453 Views
There may be no free lunch but you can often get important features or significant improvements in a home without having to pay a premium for them. Consider some of these: 1. Pre-wired outlets - you don't realize just how important pre-wired TV, security and Internet are until you go to hook them up in you exercise room or your child's bedroom. Then you recognize just how difficult and expensive it will be to make the services available. Yes you can often solve many of the problems via wireless signals but not always. When you need that sports channel from you cable provider in the den you may wish you had that pre-wired feature available in your home.
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