Appraisal Articles 2018 Free Appraisal Articles for Appraisers and the Public

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Moapa Area Appraisals

by Administrator on Feb 19, 2018 Vacant Land Appraisal 15 Views

I have been appraising property in Clark County for over 20 years and I can tell you that relatively few appraisers will accept an appraisal assignment in Moapa. It’s a fact that many appraisers if asked don’t know the difference between Moapa, Moapa Valley, Logandale, Overton, Mormon Mesa, Warm Springs and Virgin River properties. It’s just “an area northeast of Las Vegas,” and that’s good enough. If you are talking to a potential appraiser about a Moapa assignment and they don’t inquire about water rights that could be a red flag. An appraiser must know if water rights or water services exist at a specific property and how much (how many acre feet) of water is available. it’s an important factor that affects value.

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AQB Takes First Steps in Lowering Appraiser Qualifications

by Administrator on Feb 15, 2018 Appraisal Standards 51 Views

As discussed in a recent article published by McKissock Learning on their blog, see the link below, the Appraisal Qualifications Board (AQB) of the Appraisal Foundation will adopted changes to the Real Property Appraiser Qualifications Criteria following its fourth exposure draft that will become effective on May 1, 2018. The changes effectively begin, in my opinion, a breakdown of the entry barrier erected by appraisers, that restricted entry into the appraisal industry. As noted in the McKissock article, the following are some of the changes that are being adopted together with those noted in the following table:

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Discount Percentages / Real Estate Fractional Interests

by Administrator on Jan 30, 2018 Fractional Interest Appraisals 68 Views

If you have taken the time to search you may already know that there are a lot of articles out there on the web regarding fractional interests. So, what do appraisers do when faced with having to develop an appropriate discount for their assignment? If a property suffers no loss due to a lack of marketability and no loss due to a lack of control, due generally to owning a minority interest in a property, then discounting it may not be appropriate. A joint tenancy interest in a property may mean that you only own a portion of the whole, but claiming that your interest should be discounted is tenuous at best.

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Does Multiple Tenancy in a Single-Family Residential Home Affect Value?

by Administrator on Jan 16, 2018 Homes 31 Views

Most appraisers have walked into a single-family residential (SFR) home they are appraising and discovered that there are multiple families inhabiting it. Does this situation affect real property value or the results of an appraisal report? Financial institutions want to know from an appraiser if multiple tenancy is occurring in a building, it’s one of the things that they are paying you to establish. So, if you keep the information to yourself you have not provided them with the information they requested from you. Often the multiple family use of a home violates home owner association rules, master-plan community rules, city codes, zoning and planning.

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CoreLogic Valuation Solutions Residential Appraisal Standards

by Administrator on Jan 13, 2018 Appraisal Standards 54 Views

I just took a brief look at the new 112-page CoreLogic Valuation Solutions Residential Appraisal Standards online document that was recently sent to me via email. I don’t complete work for CoreLogic or for any of their affiliates but I guess they think that I am in need of a copy of their standards. I read the document and I was surprised by it. It appears that CoreLogic thinks that they are now the new de facto appraiser regulator. Oh no, I was told, the new standards are just to be followed by appraisers who complete work for CoreLogic. I’m asking myself, “so if it’s just for CoreLogic appraisers why is this document being distributed online to me and to other appraisers?

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Finding Real Estate Sales and Lease Data

by Administrator on Jan 7, 2018 Technology 68 Views

The consolidation of real estate sales and leasing data into the hands of a few corporations has almost created a data monopoly for them. The choice now is to either join them or go without the data and it has become harder to find alternate data sources. Paying the relatively large monthly fees demanded or spending a great deal of time collecting the data yourself have been the only choices. Thus, real estate brokers, appraisers and investors have found themselves at the mercy of a relatively few data providers who can in the future demand whatever they feel is reasonable for access.

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Big Box Industrial Building Appraisals

by Administrator on Jan 3, 2018 Industrial Appraisal 34 Views

Like big box retail stores, often located in the larger malls, big box industrial buildings are in a class by themselves. It usually takes a large-scale distributor like to utilize the 250,000 square feet (SF) to 1,500,000 SF that is typically available in big box buildings. Some manufacturing facilities also have similar space requirements. Appraisers consider the cost approach when analyzing big box buildings and larger buildings are generally the most reasonable to construct on a per square foot basis. Many big box buildings are metal or concrete tilt-up buildings and most are constructed for a specific user.

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Using Appraisal Keywords Online

by Administrator on Jan 1, 2018 Business Operation 30 Views

If you are trying to promote your appraisal firm and vying for recognition from search engines you want to use a group of words that are popular and focused. Some words simply pull more readers but if they don’t focus your readers you end up with lots of people seeing your ad or article but then they find that your site is not what they are looking for. A word like “property” may draw 400,000 hits but how many of those hits are looking for a real property appraiser in Reno, Nevada? Thus, a word or words like “real estate, realty, broker, brokerage, agent, MLS, listing, home, sold and for sale” are popular real estate related words but not that helpful for appraisers. They may be words related to the appraisal business but few of those individuals searching for real property appraisal service will use them in their keyword search.

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Estate Appraisals - Appraising Multiple Properties

by Administrator on Dec 26, 2017 Writing Appraisal Articles 53 Views

Estate appraisal assignments are usually welcome by appraisers since they can keep one or more appraisers busy for weeks or even months without their having to wait for work. When you have 10 or 15 assignments to do you don’t have to stress about where your work is going to coming from. For small firms with demanding bank or hard money clients who expect their work to be given priority a large number of additional estate assignments just isn’t going to be possible to complete. There are estates that need real property appraisals completed in multiple states, and many smaller firms don’t hold licenses in more than one or two states at a time. I have had appraisal licenses in Arizona, Nevada, Utah, Colorado, Michigan and Wisconsin, but I only have one currently active appraisal license in Nevada. So, while I can complete the Nevada portion of an estates needs I would have to find another appraiser to complete estate work needed in say California or Arizona.

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Shrinking Appraiser Numbers – Industry Studies

by Administrator on Dec 20, 2017 Appraisal Industry 46 Views

The American Society of Appraisers (ASA) announce that it has merged with the National Association of Independent Fee Appraisers (NAIFA) and that it’s near 4,900-member appraiser base will increase by about 700 to about 5,600. The organization will thus have about 1,400 real property members which is about 25% of its total membership. How does that compare with the Appraisal Institute (AI)? They currently have about 15,000 members, per a recent article, so ASA even with its additional real property members will have less than 10% of the AI’s. The Appraisal Institute lost 3,000 members in 2017 which is more than twice the number the number of ASA real property appraisers. Jonathan Miller has completed an article that details the recent decline in AI membership, the link is located below.

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