Appraisal Articles 2018 Free Appraisal Articles for Appraisers and the Public
by Guest on Apr 13, 2012 • Mortgage / Financing • 13526 Views
If you're like the majority of home owners you took out a mortgage loan when you purchased your property Depending on when you purchased your home and what interest rate you're paying will determine if it makes sense for you to refinance
Cell tower site valuation is complicated by a lack of market data, lease cancellation provisions and the selection of a reasonable capitalization rate.Real estate appraisers can find that their appraisal assignments have become significantly more complicated when a cell tower is located on the property to be appraised. In most instances the owners have leased the site for the cell tower use and they do not own the improvements. This article discusses cell tower site leases and not situations where both the site and the cell tower itself are owned.
Just so we are clear, my only real qualification for writing this article is my recent business audit of two tax years. I’m not a tax professional and I don’t want you to think that this article is authoritative I’m just providing you with some of my thoughts and opinions regarding paying taxes as an appraiser.
Yes it’s just about time for all of you licensed folk to begin your transition to following the rules as laid out by the new, updated USPAP document. I always wonder around this time of the cycle how many people have even looked at the document, and I think about how well received changes to what is effectively appraisal law, due to its adoption by many states, every two years would go over in any other industry or “profession.” I know attorneys take continuing education but the law governing the practice of law doesn’t change every two years. Nurses take CEU’s but the law governing them doesn’t get revised every two years.
Thought provoking statistics for those home selling & home buying just came available through a national survey conducted by Keller Williams (KW) Realty Based on transactions conducted by over 2,000 KW realtors and the homes they sold over a 6-month period ending in December 2009, these housing marketing results have just been published in a 2010 KW Market Navigator "White Paper" of sorts
For real property appraisers shipping containers that have been modified for a residential or commercial use are a lot like appraising trailers or mobile homes, they are usually classified as personal property with metal shell exteriors and after modification for some residential or commercial use they generally remain personal property. If you do your research you will find that shipping container are commonly 8’ feet wide, and many are 20' to 40' feet long, so many who use them for single-family homes, guard houses, small offices or business pop-ups modify one or more standard containers. If you search you can find a number of modified shipping containers offered for sale on the Internet. It appeared to me that China was very active and competitive in the upgraded shipping container market.
One of the problems with general statistics in real estate is that the numbers that are thrown out to the public usually describe only a subset or a specific group of properties. If a Board of Realtor's report or Home Builder's report indicated that sales prices were up 20% in for example Phoenix over the last year, that doesn't mean that all dwelling units increased in value by that amount.
Appraisers try to compare properties using uniform measurements, and area is an important physical characteristic of a property compared when land or buildings are analyzed. Land area comparisons appear to be simplistic, until you consider why parcels sizes vary.Most parcels of vacant real property were subdivided, based on the U.S. Department of the Interior / BLM rectangular survey system, from square mile, 640 acre Sections to 320 acre half-Sections to 160 acre quarter Sections to 80 acre, 40 acre, 20 acre, 10 acre, 5 acre, 2.5 acre down to 1.25 acre parcels. These parcels sizes, deemed "gross acreage" by the following Clark County definition, are often affected by survey adjustments, roadway dedications, utility easements and other factors and these parcels can be reduced dramatically in size prior to their becoming "ripe for development."
Appraisers only rarely run into requests to appraise life estates, they are not typical and you can’t just put a quick blurb into your report and solve their valuation. Thus life estate interest analyses usually require a narrative report or at least an attached narrative report addenda that details the life estate analysis. If you have read any of the text books or other articles about appraising a life estate in a real property it looks like a relatively simple step-by-step process that almost anyone can follow and complete. The problem is that appraising a life estate can become a lot more complicated once you discover more about it.
by Guest on May 23, 2012 • Property Appraisal • 1712 Views
As all appraisers know its important for us to analyze each amenity or disamenity associated with a real property during the appraisal process. In many cases an entitlement is pointed to by the owner as one of the most important factors contributing to its value, and in some cases they are right.
When it comes to zoning owners are often correct in their assumption that if the zoning allows for a higher intensity of development it makes a property more valuable. Its not a guarantee, a property may have more value if developed for a less intense residential use even though it has commercial zoning, but its often the case that commercial zoning is more beneficial.