ABC Tips

Can You Appraise Two Abutting Lots and a House in One Appraisal?

This is Diana with ABC-The Appraiser’s Business Companion.  In Urban, Suburban and especially Rural markets it is not uncommon for property owners to buy two abutting lots and to build a residence either on both lots or to build on one and leave the other as vacant.   The question is, how to appraise what appears [...]

By | August 8th, 2018|ABC Tips|

Does the Market Identify Differences in Effective Age?

This is Diana with ABC-The Appraiser’s Business Companion.  An appraiser that goes through the analysis of comparable sales will often find sales that have had different types of renovation or different times of renovation during the actual age.   Identifying the condition and then extracting adjustments for condition can be difficult.   When given the choice to [...]

By | July 20th, 2018|ABC Tips|

The Ripple Effect!

This is Diana with ABC-The Appraiser’s Business Companion.  Have you ever watched how water ripples when a rock is tossed into water?  I was reminded today about the “ripple effect” and instantly associated it with the practice of appraisal.  I’m going to give ABC a plug, they are what I would call “rock skippers” in [...]

By | July 11th, 2018|ABC Tips|

Increasing Your Risk for a Complaint with the State Enforcement Division-In Three Easy Steps

This is Diana with ABC-The Appraiser’s Business Companion.  I spent over an hour today listening to someone complain about appraisers which was a balance to the hour plus one-sided conversation I had yesterday with an appraiser about Appraisal Management Companies (AMCs).  I did this in between filling out yet a third form due to a [...]

By | July 4th, 2018|ABC Tips|

A Method to Perform a Location Analysis

This is Diana with ABC-The Appraiser’s Business Companion.  A question came up from an appraiser who asked, “how do you know if a lot has situs”?  For sure it’s a comparison conclusion that is part of a site analysis.  It also plays a role in highest and best use.  The ability to identify situs also [...]

By | June 27th, 2018|ABC Tips|

Why Am I Being Asked to Reconcile the Pending Contract to the Value?

This is Diana with ABC-The Appraiser’s Business Companion.  More and more appraisers are getting judged on their minimal to none reporting of the contract analysis.  More specifically the criticism has been geared toward the lack of reconciliation of the contract to the final value.  WHAT??????  We don’t reconcile our value to the contract; where is [...]

By | June 20th, 2018|ABC Tips|

Three Sites All Contiguous-Hmmm… What Can I Do?

This is Diana with ABC – The Appraiser’s Business Companion.  An interesting question passed my way.  The appraiser was asked to appraise three contiguous lots that were zoned commercial and residential apartment.  The borrower wanted to put up a parking lot.  The appraiser, held a residential certification and asked if they could consider this a [...]

By | June 13th, 2018|ABC Tips|

Adjusting Effective Age for Deferred Maintenance

This is Diana with ABC-The Appraiser’s Business Companion.  Who hasn’t had the experience of driving to the next assignment, looking at the surrounding properties and noticing they all appear well maintained.  All of course except for the one you seem to spot at the far corner?  Slowly you drive looking at the addresses in search [...]

By | May 28th, 2018|ABC Tips|

Does USPAP Require the Format of Revisions?

This is Diana with ABC-The Appraiser’s Business Companion, with an observation.  Clients have seemingly determined they can ask anything at all and the appraiser must drop everything so they can fulfill their request.  Can they do that?  Does the appraiser have to stop what they’re doing and immediately meet those demands?  I think the best [...]

By | May 24th, 2018|ABC Tips|

Keeping Development Separate from Reporting

This is Diana with ABC-The Appraiser’s Business Companion.  Even though we have two separate standards under the Uniform Standards of Professional Appraisal Practice (USPAP), often our verbiage within the Appraisal Report reveals we don’t realize the separateness. I was reading an appraisal report that stated the opinion of value was communicated in the “Retrospective Appraisal [...]

By | May 17th, 2018|ABC Tips|