Categorie: Tutti - features - valuation - cost - methods

da Eloy Rodriguez mancano 10 anni

295

Appraisal

In the field of property valuation, multiple concepts and methodologies are crucial for determining the accurate worth of an asset. Appraisals and valuations hinge on various principles, such as the Principle of Contribution, which assesses how individual improvements enhance overall value, and the Principle of Regression, underscoring how higher-value properties are affected by their lesser-valued neighbors.

Appraisal

Appraisal

Appraisals

Methods
Gross Multiplier Approach

Site Analysis not as important

Sales Price of Comparable / Gross Monthly Income

Capitalization Approach

Calculate Cap Rate

Summation

Band of Investments

Comparison

Calculate Annual Net Income

Economic Rent - Vacancies - taxes - insurance - utilities - reserves

Present Worth of future benefits

V = I/R

Cost Approach

Specific Purpose Building

Replacement Cost =

Estimate Replacement Cost of Improvement

Subtract accrued depreciation

Add Value of Land

Physical Deterioration

Deferred Maintenance

Wear and Tear

Obsolescence

Conditions

Incurable

Curable

Internal

Changes in Construction Styles

One car Garage

Old Heating

Old Kitchen

Poor Design

External

Noxious fumes

Nonconforming improvements near property

Changes Supply and Demand

Airport Noise

Poor Sewer System

Social or Economic changes

Taxes, zoning

Unit in Place

Quantity Survey

detailed estimate = builders

Square Foot

Exterior Dimension

Cubic Foot

Warehouse

Cost / foot or Acre

Front Foot Value

Estimate value of land

Market Data Approach = Comparison = Comparative = Substitution Approaches

Features

Adjust value by subtracting value of the feature from the sales price of comparable

Rental Schedules

Unit of Comparison

single family home

entire property

Appraise Amenities

Valuation
Forces On Value

Additional Factors

Effective age.

Market Price

Subject to financing conditions

Cost

cost equal value when improvements are new and Highest and Best Use

Orientation

Topography

Exposure

Social Ideals

Environmental and Physical Characteristics

Economic

Governmental

Elements of Value

Transferability

Scarcity

Utility

Demand

Principle of Regression
Principle of Contribution

Remodel

Net effect on Income

Principle of Conformity
Principle of Highest and Best use

Site Approach

Parcel of land

interim = current use

Principle of Substitution

Basis of 'Comparison' = Market Data = Substitution approach

Reports
Letter Form - Short Form -Narrative
Process
Define-apply different approaches-reconcile