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Mortgage Rates Are Going Higher, Now is the Time to Refinance

by Guest on Apr 13, 2012 Mortgage / Financing 19633 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

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Cell Tower Site Appraisals

by Administrator on May 11, 2010 Property Appraisal 10378 Views

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.

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Tax Deductions / Tips for Real Estate Appraisers

by Administrator on Mar 30, 2015 ROOT 9790 Views

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.

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Discount Percentages / Real Estate Fractional Interests

by Administrator on Jan 30, 2018 Fractional Interest Appraisals 7551 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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The Use of Gross versus Net Area in Appraisals

by Administrator on Feb 1, 2009 General Appraisal 7538 Views

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."

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Appraising Shipping Containers

by Administrator on May 5, 2014 Personal Property 6027 Views

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.

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Fractional Interest / Partial Interest Appraisals

by Administrator on Nov 11, 2014 Fractional Interest Appraisals 5417 Views

Appraisers always come back to valuing partial interests or fractal interests in real property because there are so many properties that end up having a number of undivided interests (tenancy in common). So appraisers end up asking the same question, what is a fractional interest in the property that I am appraising worth? Like most appraisers I have read and collected many of the fractional interest valuation articles published over the years. Many relate to specific studies that deal with partnership sales, business interests and partial stock conveyances and not with real estate interests.

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What Happens When an Appraiser Can't Find Comparable Sales?

by Administrator on Mar 24, 2015 Property Appraisal 5169 Views

Appraisers often find themselves in situations where there are few or no current comparable sales available to analyze. They take assignments, on residential homes, commercial office buildings or vacant land parcels, and many times it's not all "sausages and roses." One of the first things Appraisers do after accepting an assignment is complete their subject property research, inspect the subject property and begin looking for comparable sales.

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What Is A Conditional Fee Estate?

by Guest on Jan 17, 2013 Real Estate 4973 Views

A fee estate that was limited to a defined donee and a given class of heirs, exclusive of others, and which reverted to the original donor of the assets, or his heirs, in the event of a failure of the requisite issue "A conditional fee, at common law, was a fee restrained to some particular inheritor, exclusive of others", 2 Bl Comm 110

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Appraising Life Estates

by Administrator on Jan 29, 2015 Special-Purpose Appraisal 4692 Views

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.

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