ABC Tips

The Building of an Appraisal-SR 1-1

This is Diana, with ABC-The Appraiser’s Business Companion.  In the building of an appraisal, the first development standard rule (SR), for real property appraisal is Standard Rule 1-1.  It has three subparts, -1- (a), (b) and (c).  This SR, is a competency pre-requisite that often appraisers will skip when reading the document.  Prior to the [...]

By | January 9th, 2018|ABC Tips|

The Building of an Appraisal-Dates in an Appraisal Assignment

This is Diana, with ABC-The Appraiser’s Business Companion.  In the building of an appraisal, dates are a big deal; have you ever wondered why?  For the obvious beginning of this answer here’s another foundational question, do you want to leave your effective date open?  Most would say “of course not”; which brings me back to [...]

By | December 21st, 2017|ABC Tips|

The Building of an Appraisal-Intended Use of a Vacant Land Appraisal

This is Diana, with ABC-The Appraiser’s Business Companion.  In the building of an appraisal one of the elements in defining the appraisal problem is the intended use of the appraisal.  For example, what if the intended use was to seek a mortgage on a residential vacant piece of land?  The client seeks a current market [...]

By | December 13th, 2017|ABC Tips|

The Building of an Appraisal

This is Diana, with ABC-The Appraiser’s Business Companion.  Although many believe the sections of residential forms must each be treated separately, that line of thinking often leads to a disconnect from the appraisal process.  Very often the appraiser begins first with the subject section, quickly goes through the neighborhood, and then gets to the site [...]

By | December 6th, 2017|ABC Tips|

When Is It Time for the House to Come Down?

This is Diana, with ABC-The Appraiser’s Business Companion.  You see on occasion the discuss of “houses being razed”.  Interesting that its called “razed” and not “raised”.  When you plug in the online dictionaries similar definitions are communicated, “Razed or also rased or razing” means to erase or scrape down, shave off.  The origin is “Middle [...]

By | December 1st, 2017|ABC Tips|

No Zoning and the Site Analysis

In many areas of the country, home sites have no zoning, and in some cases no deed restrictions.  How does one begin a site analysis when there is no zoning?  Where does Highest and Best Use begin?  It begins with understanding the land as vacant in its physical possibilities, legally permissible uses and economically feasibility [...]

By | November 7th, 2017|ABC Tips|

Do Site Dimensions Matter? – The Role of Dimensions in the Appraisal

I often see residential appraisal reports with the field for the site dimension marked “unknown” or “not given”.  The site area will be entered, but not the dimensions.  My first reaction has never changed, how does the appraiser reason through highest and best use without it?  In a residential appraisal where the house [...]

By | October 25th, 2017|ABC Tips|

Understanding the Impact of a Flood Designation

Changes in Flood Designations can impact the utility of a site, which can also impact the Highest and Best Use.  In some instances, FEMA, after a disaster, will place increased restrictions on a site.  When those types of changes occur, the appraiser may be engaged to offer their opinion of impact on the [...]

By | October 17th, 2017|ABC Tips|

National Disasters – The Lack of Data and Needs of the Public for Appraisal Services

We’ve touched on many issues over the past month relating to appraising after a disaster: Protecting yourselves at the time of the inspection, Recognizing the needs of the client which may be misunderstood (1004D versus a Catastrophic Disaster Inspection Report) Different forms for different assignments Sample questions being asked of appraisers Sources to [...]

By | October 6th, 2017|ABC Tips|

National Disasters – The Needs for the Public for the Appraiser

With very little guidance from the secondary markets and less yet from the state appraisal boards, the disasters of recent leave appraisers both suffering from anxiety (and in some cases depression) in the aftermath.  One of the more recent request went like this, “Good Afternoon, I live in Kingwood, Tx, which is an [...]

By | October 3rd, 2017|ABC Tips|