A farm appraisal can be much more challenging than a residential appraisal, and usually requires a broader scope of knowledge. Farms and farmland are appraised for the same variety of reasons that a home or a commercial property might be. But an accurate appraisal…
The purpose of the Uniform Appraisal Standards for Federal Land Acquisitions, colloquially known as the Yellow Book, is to promote fairness, uniformity, and efficiency in the appraisal of real property in federal acquisitions. Those words permeate the philosophy expressed in the Standards. Regardless of…
There’s been a lot of buzz about the “Yellow Book” lately in the appraisal industry. If you are new to the profession, or if you’ve simply never performed a Yellow Book appraisal, you may be curious about what it is and why it’s important.…
When it comes to valuing property, it doesn’t take much to be exceptional. Appraising unique homes can be tough because they stand out from the norm. Because of the importance of comparables for making valuations, when there aren’t any, this often means extra work—and…
Green homes are designed with environmentally friendly and sustainable features, including the efficient use of energy, water, and building materials. Energy efficient homes are gaining in popularity as their affordability increases. As an appraiser, it’s a good idea to familiarize yourself with this unique…
For decades, homes in the U.S. have been getting bigger and bigger. The average size of a single-family home in 1978 was 1,780 square feet. That grew to 2,662 square feet in 2013—even while the size of the American family has gotten smaller. In…
Appraising small shopping centers and retail properties can be complicated, although the process is usually pretty straightforward. Appraisers are often called on to work with small shopping centers, since they are popular with high-net-worth investors who are looking for steady income, and because the…
When a lender places an order for a property, often times both you and the lender might not know the marketplace views the property as stigmatized. Once the specifics of the case are revealed, the assignment will call for a high level of expertise, knowledge,…
Appraisals of complex and non-conforming properties require knowledge of many different types of appraisal techniques, creativity, and a positive attitude. If you ask appraisers to provide examples of complex appraisal assignments, many will focus on commercial or mixed-use properties, or two- to four-family properties. …
If you’ve been an appraiser long enough, chances are you have run into a few properties with no comparable sales available in the local market. Let’s dig into this property, for example. It’s a very old single-wide manufactured house with a large, “stick-built” addition. In…
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