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Atypical Improvements - will the Buyer Pay for Them?

by Administrator on Mar 24, 2015 ROOT 2591 Views

Will a buyer pay for atypical improvements? It's a question that you have to ask yourself if you are an appraiser working on a residential or a commercial appraisal assignment and you are considering the contributory value of features that are out of the ordinary. Improvements like luxury office build-out in an industrial building or a massive heated swimming pool with a power cover, a waterfall and a spa. Owners often provide extensive cost evidence when an appraiser starts an assignment on atypical improvements they usually expect to get compensated for them and they expect the appraiser to add value for the feature or features.

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Tax Deductions / Tips for Real Estate Appraisers

by Administrator on Mar 30, 2015 ROOT 10064 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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Litgation Support Case Record (Additional Qualification)

by Administrator on Jul 13, 2015 ROOT 2294 Views

For a long time I used a self-created format for presenting my court experience. The format that I used was very detailed and it included information on the judge, the attorneys, the case number and the specific type of case. It was my belief that attorneys looking at my court history would want that level of detail, but I found some asking for a "standardized" presentation of the data. I asked for direction and attorneys pointed me toward a new, more summarized format. I'm not sure how long this format has been around, maybe it's been used for 20-years and I just came upon it. Either way I wanted to pass the information on to other appraisers who want to summarize their court experience for presentation to attorneys without following my route. If you have information on an alternate format I would appreciate you passing it along to me so that I can share it.

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Contingent Appraisal Fees

by Garrett Steele on Aug 8, 2015 ROOT 2924 Views

Many appraisers are asked by clients or potential clients to "work with me, you will get paid through escrow." The problem for appraisers is that it's often the case that if the appraisal doesn't "come in" in these circumstances there won't be an escrow to get paid from. It's one of those situations that appraiser's must approach with caution. If your fee won't be paid if a certain value is not reached clearly you can't accept the assignment. Even real estate developers with speculative projects have come to realize that most commercial appraisers will not invest their time and expertise and hope to get paid, they simply refuse to be put in that contingent fee situation.

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Appraising Small Motels

by Administrator on Jul 7, 2016 ROOT 3691 Views

Small motels are often owner operated without national affiliation and while challenging they are not as daunting as there much larger franchised limited and full service big brother operations. Appraisers understand that motels are valuable because they generate income and they are usually analyzed as "going-concerns," and all three approaches to value are of course considered. Small motels are usually older facilities at least they are in my market. Newer motels here are usually larger than the 10 to 30 unit roadside motels that are disappearing or already gone from many communities. There are some of the small operators who are still hanging on, but it’s a smaller and smaller group. Larger facilities can offer common area amenities like a large reception area, breakfast, conference rooms and some even have restaurants and / or retail areas.

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SFR Residential Market Las Vegas / Clark County, NV, November 2020

by Administrator on Nov 20, 2020 General Appraisal 1251 Views

As I have mentioned in many articles, appraisers generally keep close tabs on the markets and the movement of the single-family residential market is important. This review looks at properties located in Clark County Nevada. The following aggregate market statistics are provided via the GLVAR database and appear to be consistent with other data sources. New listings of previously owned single-family residential (SFR) homes are reported in November 2020 to be down and now near a 10-year low point, and the number of home sales is also heading for an all-time low.

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Clark County Land Market 2020

by Administrator on Nov 14, 2020 Market Conditions Articles 1364 Views

As a real property appraiser I have tracked over the past several years Clark County (and Nye County) Nevada vacant land sales. The following graphic displays my best available historical and current data on the Southwest Las Vegas vacant land market. I have displayed sales in 4 zoning categories, but I also keep the data on other zoning categories when there are sales available. It is obvious from the sales data that vacant land sales prices in the Southwest continued to move up in each zoning category as displayed in the following graph:

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Clark County, Nevada Commercial Real Estate September 2020

by Administrator on Oct 31, 2020 Market Conditions Articles 1202 Views

In keeping with recent market recording reports on million dollar plus commercial real properties it appeared that monthly sales increased in all categories except the Apartment category in September, 2020. September saw increased recordings for Industrial, Retail, Office and Vacant Land. Office / medical office sales increased in September however they are only about half of the monthly number recorded in January of 2020 while Industrial and Retail sales appeared to be near pre-COVID levels.

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Real Estate Appraiser Perceptions - September, 2020

by Administrator on Sep 11, 2020 Market Conditions Articles 1505 Views

Here is an update on what I have found in the Las Vegas real property market as we near the end of the third quarter of 2020 based on research. Residential Market: Here are a few statistical facts in September of 2020 on the Las Vegas market; the median sales price of single-family previously owned homes is up to $ 312,000 and it appears to be climbing higher. Fewer and fewer new listings are coming on to the market, we are at a 5-year low, and fewer homes of this type are for sale. The median days of market has fallen slightly to around 23. The median price per square foot is up to $ 170. So it appears that the market is doing well, but is it?

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Trouble in the Clark County Commercial Real Estate Market?

by Administrator on Jul 11, 2020 Market Conditions Articles 1363 Views

If you have been following my commercial sales statistics on Clark County, Nevada, that includes Las Vegas and Henderson, you already understand that the number of $ 1 million and up closings, including vacant land sales, has dropped off by about 40%. That is a huge decrease in the number of sales, and as of today July 11th it doesn’t appear that things are getting better. The heaviest hit segment of the market is office buildings. There were no office building sales in April, May and there likely will be few offices sold in June or July. Let’s face it, people are not excited about returning to the office and employees forced to return who then become infected by COVID will not be an easy group to console.

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There Are Still Reasons to Buy a Home

Apr 1, 2012 • 1784 Views

Going Concern Appraisals

Feb 1, 2015 • 2860 Views