2. Investment method. Used for most commercial (and residential) property that is producing future cash flows through the letting of the property. If the current estimated rental value (ERV) and the passing income are known, as well as the market-determined equivalent yield, then the property value can be determined by means of a simple model. Note that this method is really a comparison method, since the main variables are determined in the market. In standard U.S. practice, however, the closely related capitalizing of NOI is confounded with the DCF method under the general classification of the income capitalization approach (see above).
The Property Appraiser of DeSoto County, Florida is charged with placing a fair and equitable market value on every parcel of property both real estate and tangible in our county. Many people believe the Property Appraiser determines the amount of taxes a property owner will pay but this is not the case. The job of property appraiser is to value property for tax purposes; the taxing authorities (Board of County Commissioners, School Board, City Council, Water Management) set the tax rate for all property and therefore the amount of taxes to be assessed.

On February 1, 2018, the AQB adopted new experience requirements to become a Licensed or Certified Appraiser. The requirements are effective May 1, 2018 in states that choose to adopt these criteria. States can opt to keep the old criteria as these are more stringent than the new requirements. You are required to complete 1,000 hours of experience in no less than 6 months. These hours must be directly supervised by an acceptable supervisory appraiser. Appraisers are required to maintain a log jointly with the supervisory appraiser.


The technical details of practice of real estate valuers in Russia are aligned with the international pattern. Members of the Russian Society of Appraisers formerly were bound by the observance of the International Valuation Standards. There also exists a set of 14 general-purpose government-developed "Federal Valuation Standards" (FSOs 1,2,3 --are the general valuation standards first adopted in 2007 (and revised 2015) and covering Terms of engagement and Valuation report content requirements, FSOs 7-11 are asset-specific standards adopted in 2015, while FSO 9 is currently the only purpose-specific standard in the set dealing with valuations of property for loan security purposes; the last two FSO standards adopted in 2016 cover determination of investment and liquidation values, however, they do not touch on the methodology for determining these values, only scraping the reporting requirements). In view of the international conformity drive in the latest round of FSO standards setting, general requirements in the new FSO standards are close to those in the International Valuation standards set, however they can be more specific on occasion and mandate compulsory disclosure of uncertainty in valuation reports using the interval/range format.
 I spoke with John about getting an appraisal for the home I was purchasing and even though it was short notice, he was able to fit me in the next week. I gave him my information and told him the last inspector I called had agreed but had to back out when he found out how large the house was, but John said it would be no problem, and figured it would take a couple of days to do the appraisal and get the proper amount of comps. I had no problem with his fee, as I know that large houses can cost even more to inspect and appraise and thought his prices were reasonable-- especially considering how quickly he was going to get it done. Right after our phone conversation he sent me an email and sent the contract, which I signed and emailed back, and gave him my credit card info., which made it very easy to deal with versus writing another check-- which you write so many of in the house purchasing process. He arrived promptly and introduced himself, and was just as pleasant in person as he was on the phone. He did a thorough job of going through the house, and really seemed to know his business very well. He was nice enough to point out some positive aspects about the house we were purchasing, and pointed out many details. He was very knowledgeable about the housing industry and houses in general as well, and after business talk, it was nice he took the time to just chit chat for a bit. After speaking with me on the phone and chatting at the house, he gave me some great information about places he thought I would be interested in visiting, because he figured out pretty quickly I was a nerd who would be into some of the places he mentioned. He was right! Great information and advice! I really enjoyed doing business with John, who I found interesting, knowledgeable, and excellent to work with, and if I ever need another appraisal, he is definitely the one to call! I would highly recommend him to anyone who wants the best service in this business!

In a continuing effort to reduce costs of operating its motor fleet, the Hillsborough County Property Appraiser’s office announces an Invitation for Bids for the leasing of approximately 20 full hybrid (gas-electric) sedan vehicles model year 2017 or later. The deadline for submittal of bids is June 15 at 2 p.m. All interested firms can obtain a copy of the IFB by clicking here.
The proposed property tax rate, or millage rate, is set by various taxing authorities. Pinellas County is one taxing authority. There are others, such as the School Board and the individual municipalities. Based on their proposed budgets, they determine a “proposed” millage rate. One mill is equal to $1 for every $1,000 of taxable property value. Once the proposed millage rate is set, the taxing authority cannot raise it, though it is permitted to set it at a lower rate.
4. Profit method. Used for trading properties where evidence of rates is slight, such as hotels, restaurants and old-age homes. A three-year average of operating income (derived from the profit and loss or income statement) is capitalized using an appropriate yield. Note that since the variables used are inherent to the property and are not market-derived, therefore unless appropriate adjustments are made, the resulting value will be value-in-use or investment value, not market value.

The cost approach was once called the summation approach. The theory is that the value of a property can be estimated by summing the land value and the depreciated value of any improvements. The value of the improvements is often referred to by the abbreviation RCNLD (for "reproduction/replacement cost new less depreciation"). Reproduction refers to reproducing an exact replica; replacement cost refers to the cost of building a house or other improvement which has the same utility, but using modern design, workmanship and materials. In practice, appraisers almost always use replacement cost and then deduct a factor for any functional dis-utility associated with the age of the subject property. An exception to the general rule of using the replacement cost is for some insurance value appraisals. In those cases, reproduction of the exact asset after a destructive event like a fire is the goal.
Land and improvements are treated separately. German GAVP assumes that the land can be used indefinitely, but the buildings have a limited lifespan; This coincides with the balancing of the assets. The value of the land is determined by the sales comparison approach in both the income and cost approaches, using the data accumulated by the Gutachterausschuss which is then added to the building value.
Leasehold value – The interest held by a tenant. If the tenant pays market rent, then the leasehold has no market value. However, if the tenant pays less than the market, the difference between the present value of what is paid and the present value of market rents would be a positive leasehold value. For example, a major chain retailer may be able to negotiate a below-market lease to serve as the anchor tenant for a shopping center. This leasehold value may be transferable to another anchor tenant, and if so the retail tenant has a positive interest in the real estate.
With effect from the 1st of August 2017, new amendements to the Federal Valuation Law came to impose the compulsory certification of valuers by a state-affiliated testing centre. Consequently, this 2 hour written-exam certification measure, aimed to counter a perception of wide-spread malpractice among the members of the national valuation profession, provides for 3 valuer-specializations: real estate valuers, plant and machinery valuers, and business and intanglble asset valuers, with the exam content requirements varying substantially for each specialization. Valuers would lose a right to practice, unless they comply with the requirement to take this compulsory certification exam at or before March 31, 2018. A general assessment of this measure is that the numbers of certified valuers in Russia are set to dwindle down to some 2000-3000 valuers nationwide (across all the specialisms mentioned), i.e. decimating some 80% of the current Valuer SRO's membership, due to the complexity of the certification exams.
The stakes are always high when investing in real estate be it a single family residence or a specialized commercial property. That is why hiring the right real estate appraiser and analyst is critical. Fogarty & Finch has the expertise to assist you during this very challenging real estate market and the commitment to be there for you in the future.
The Property Appraiser of DeSoto County, Florida is charged with placing a fair and equitable market value on every parcel of property both real estate and tangible in our county. Many people believe the Property Appraiser determines the amount of taxes a property owner will pay but this is not the case. The job of property appraiser is to value property for tax purposes; the taxing authorities (Board of County Commissioners, School Board, City Council, Water Management) set the tax rate for all property and therefore the amount of taxes to be assessed.
With effect from the 1st of August 2017, new amendements to the Federal Valuation Law came to impose the compulsory certification of valuers by a state-affiliated testing centre. Consequently, this 2 hour written-exam certification measure, aimed to counter a perception of wide-spread malpractice among the members of the national valuation profession, provides for 3 valuer-specializations: real estate valuers, plant and machinery valuers, and business and intanglble asset valuers, with the exam content requirements varying substantially for each specialization. Valuers would lose a right to practice, unless they comply with the requirement to take this compulsory certification exam at or before March 31, 2018. A general assessment of this measure is that the numbers of certified valuers in Russia are set to dwindle down to some 2000-3000 valuers nationwide (across all the specialisms mentioned), i.e. decimating some 80% of the current Valuer SRO's membership, due to the complexity of the certification exams.
The role of a real estate appraiser is to provide honest, impartial and objective opinions regarding the market value of the property in the form of an appraisal. This service plays a huge role in assisting those who own, manage, sell, invest, and/or lend money on the security of real estate. Appraisers will gather facts, stats, and any other information regarding said property. From there they will put their analytical skills to test in analyzing this data, exercising sound judgement, and communicating this effectively in their appraisal report.
PINZ incorporated much of the membership of the NZIV, the Institute of Plant & Machinery Valuers (IPMV) and the Property & Land Economy Institute of New Zealand (PLEINZ). PINZ now represents the interests of valuers, property and facilities managers, property advisors and plant and machinery valuers. PINZ has developed into one of the largest professional bodies for standards, qualifications and ethics across all facets of the property profession within New Zealand. It works with government, industry and other professional associations, education stakeholders and the media to promote its standards and views.[33]
Also, ask the agents to call the listing agents of pending sales to try to find out the actual sales price of those properties. Listing agents do not have to disclose the sales price, but many are happy to help out because they could find themselves in the same situation. You can always ask if the agent thinks your price will appraise if the agent refuses to divulge the pending price.
However, the recent trend of the business tends to be toward the use of a scientific methodology of appraisal which relies on the foundation of quantitative-data,[10] risk, and geographical based approaches.[11][12] Pagourtzi et al. have provided a review on the methods used in the industry by comparison between conventional approaches and advanced ones.[13]
Note: Submission of this appraisal order form does not constitute an acceptance of the order by the appraiser. The appraiser will contact you and discuss the details of the assignment and from that point an agreement can be reached between you and the appraiser about the assignment. If the appraiser does not contact you more than likely they are having email problems so you should try to contact them by phone.
Most of valuations in the country tend to be performed for statutory purposes envisaged by the Federal Valuation Law (the latest amendment in 2016) and other related laws, such as the Joint Stock Companies Law. Such pieces of legislation provide for more than 20 so-called "mandatory cases of valuation", including valuations for privatization purposes, lending purposes, bankruptcy and liquidation etc. Valuations for corporate accounts used to be much more prominent before 2000, when the national accounting regulator ceased to incentivize the accounting fair value option. At present, the mass appraisal of property for taxation purposes is also starting to be outsourced by the Government to the institution of professional valuers.
Meanwhile, a residential appraiser would focus on those properties where individuals and households are domiciled. This can include condominiums and single homes. Typically a residential appraiser works with properties with no more than four housing units. Larger scale properties, such as multiunit apartment buildings, would likely be classified as a commercial property for the purposes of an appraiser.
Also, ask the agents to call the listing agents of pending sales to try to find out the actual sales price of those properties. Listing agents do not have to disclose the sales price, but many are happy to help out because they could find themselves in the same situation. You can always ask if the agent thinks your price will appraise if the agent refuses to divulge the pending price.
Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate.com does not include all companies or all available products.
In most instances when the cost approach is involved, the overall methodology is a hybrid of the cost and sales comparison approaches (representing both the suppliers' costs and the prices that customers are seeking). For example, the replacement cost to construct a building can be determined by adding the labor, material, and other costs. On the other hand, land values and depreciation must be derived from an analysis of comparable sales data.

Extremely thorough and informative, went above and beyond what I expected. Very easy to talk to and completed in less than an week. Always on time and very professional. Information in the appraisal made putting my house on the market a much less stressful endeavor. Also gave me some great advice regarding getting my house ready for sale. Thank YOU!
After a lot of phone tag (due to my availability, not John's), he finally got me on the phone. We talked about what I was looking for, and John talked to me about the general process of appraisals for PMI evaluation, and the availability of those reports. He was open and honest and took his time to help me understand, knowing he was turning away a potential customer. In this day and age, it's so hard to find someone with the ethics necessary to turn away a potential customer. And as such, he has definitely earned my respect and future business (as well as my highest recommendations.
Other leading appraisal organizations include the National Association of Independent Fee Appraisers and the National Association of Master Appraisers, which were also founding sponsor-members of the Appraisal Foundation.[29] The Massachusetts Board of Real Estate Appraisers (MBREA), founded in 1934, is the only state appraisal association that has been named a sponsor of the Appraisal Foundation.[30] In recent years, the Royal Institution of Chartered Surveyors (RICS) has become highly regarded in the United States, and has formed a collaboration with the Counselors of Real Estate, a division of the National Association of Realtors. RICS, which is headquartered in London, operates on a global scale and awards the designations MRICS and FRICS to Members and Fellows of RICS. The Real Estate Counseling Group of America is a small group of top U.S. appraisers and real estate analysts who have collectively authored a disproportionately large body of appraisal methodology and, the National Association of Real Estate Appraisers (NAREA), founded in 1966, with the goal to elevate the professionalism and success of the Appraisal Industry.
As mentioned before, an appraiser can generally choose from three approaches to determine value. One or two of these approaches will usually be most applicable, with the other approach or approaches usually being less useful. The appraiser has to think about the "scope of work", the type of value, the property itself, and the quality and quantity of data available for each approach. No overarching statement can be made that one approach or another is always better than one of the other approaches.
The BauGB defines the Verkehrswert or Marktwert (market value, both terms with identical meaning) as follows: "The market value is determined by the price that can be realized at the date of valuation, in an arm's length transaction, with due regard to the legal situation and the effective characteristics, the nature and lay of the premises or any other subject of the valuation"[19] (non-official translation). The intention, as in other countries, is to include all objective influences and to exclude all influences resulting from the subjective circumstances of the involved parties.
Lenders want to make sure that homeowners are not overborrowing for a property because the home serves as collateral for the mortgage. If the borrower should default on the mortgage and go into foreclosure, the lender will recoup the money it lent by selling the home. The appraisal helps the bank protect itself against lending more than it might be able to recover in this worst-case scenario.
While no appraiser is infallible, his or her opinion of the value of your home is informed by rigorous training, numerous tests, several years of on-the-job experience and required continuing education. They are also required to substantiate every finding in their reports that could influence a home’s value. Appraisers and their employers (often appraisal management companies) are heavily regulated. Consequences of issuing deliberately misleading or biased reports can be severe, so appraisers work hard to remain impartial and keep personal value judgments and prejudices out of their work.
WertV's general regulations are further supported by the Wertermittlungsrichtlinie (abbr. WertR, "directive on the determination of value").[21] The WertR provides templates for calculations, tables (e.g., economic depreciation) and guidelines for the consideration of different influences. WertV and WertR are not binding for appraisals for nonofficial use, nonetheless, they should be regarded as best practice or Generally Accepted (German) Valuation Practice (GAVP).
Adjudication of valuer-certified estimates of value in case of the onset of disputes is conducted through the Experts Councils of valuers' SROs. Official courts tend to concur with the resolutions of such Councils. In some rare instances the imprimatur of SRO's Experts Councils is also required for a valuation done by a particular valuer to enter into effect.
In the UK, real estate appraisal is known as property valuation and a real estate appraiser is a land valuer or property valuer (usually a qualified chartered surveyor who specializes in property valuation).[15] Property valuation in the UK is regulated by the Royal Institution of Chartered Surveyors (RICS), a professional body encompassing all of the building and property-related professions. The RICS professional guidelines for valuers are published in what is commonly known as the Red Book. The 2011 version was the RICS Valuation Standards 7th Edition (2 May 2011), superseding an edition published in 2007 with later amendments. The RICS Valuation Standards contains mandatory rules, best practice guidance and related commentary. Changes to the standards are approved by the RICS Valuation Professional Group Board, and the Red Book is updated accordingly on a regular basis. While based in the UK, RICS is a global organization and has become very active in the United States in recent years through its affiliation with the Counselors of Real Estate, a division of the National Association of Realtors.
I just wanted to let you know how helpful Mike Nichols was in helping us through a complicated situation in a real estate transaction where a tax certificate had been sold on the subject property. He went above and beyond the call of duty, patiently explaining the situation separately to all three parties involved. The issue was resolved with his help and his response was excellent.
Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate.com does not include all companies or all available products.
If a home inspection is performed prior to the appraisal and that report is provided to the appraiser, a more useful appraisal can result. This is because the appraiser, who is not an expert home inspector, will be told if there are substantial construction defects or major repairs required. This information can cause the appraiser to arrive at a different, probably lower, opinion of value. This information may be particularly helpful if one or both of the parties requesting the appraisal may end up in possession of the property. This is sometimes the case with property in a divorce settlement or a legal judgment.[16]
"What is my house worth?"  These real estate appraisers can answer that and much more all over Pinellas County.  Whether it is appraising your home for a property tax appeal if your property taxes are too high, valuing your home for estate work or a divorce or helping you secure a HELOC, a local appraiser is best.  They obviously also appraise new construction homes as well as existing homes, and can do it for a home listing, before or after a sale.  They use the local MLS (Multiple Listing Service) to gather data on sales and listings and use them to professionally tell you what the price per square foot should be for your home and others in your area.  They also can determine if there's any effect on the value of your home from pending foreclosures, REOs, and other "short sales" in Pinellas County.  A licensed and certified appraiser's estimates of value on residential single family homes, condos, townhouses and more are much better than what you'll find when using an AVM (automated valuation model) or a BPO (Broker Price Opinion).  They can do an appraisal for VA, FHA, conventional, jumbo, and Fannie Mae or Freddie Mac purposes, and routinely provide those reports on URAR, drive-by, and 1004 MC (1004 Market Condition) forms as well as others.
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