The Appraisal Process Thousands of commercial appraisals are ordered every day. If you own or have owned a commercial building, chances are that a commercial appraisal was ordered by your lending institution to evaluate the value of the property against the loan amount. An appraisal simply provides an educated opinion of the value in order to … [Read more...]
Good News for my Neighbors in Elizabethtown, Kentucky
I spend a lot of time analyzing data. A LOT. That's because I spend a lot of time working. For many involved in the real estate industry, the economic events of 2008 presented serious challenges in providing for our families. Try relocating to a new state and rebuilding an appraisal business during such a time. :) I thought Ranger School was … [Read more...]
Discerning Commercial Real Estate Trends in Kentucky
It's been a while since my last post. I have been absolutely swamped, working weekends for the last several months. Catching up is always nice but it's a two-edged sword. I joke with friends that I have spent the last twenty-five years going out of business. During my absence I've been researching various types of commercial real estate in Kentucky … [Read more...]
Allocating Commercial Real Estate Value the “Right” Way
There is a tea party underway. But it doesn't involve a particular political party. It involves a revolt against real estate taxes levied by local taxing authorities against real estate owned by companies with national name recognition like Walgreen's, General Electric, and Brigestone. These companies contend that they're being taxed on their hard … [Read more...]
Hardin County, Kentucky, Home Price Trends
As a homeowner and appraiser, I try to keep track of home price trends for the major cities in Hardin County, Kentucky. Based on MLS sales, the price for homes in Elizabethtown and Vine Grove may have finally experienced a trough in 2014. Unfortunately, faced with the potential loss of an additional 4,000 troops at Ft. Knox, home prices in Radcliff … [Read more...]
Big Data, Statistics, and the Appraiser
Big Data, Statistics, and the Appraiser One of the most popular articles on my blog provides instructions to perform simple linear regression in Excel in order to justify adjustments to comparable sales. Without question, big data is here and there is a hunger in the appraisal world to learn more about statistics. Though I only accept commercial … [Read more...]
Commercial Appraisers are Human Too
Appraising Commercial Property in the Real World People are now calling the recent economic turmoil that began in 2008 'The Great Recession.' If you're like me, you've spent a great deal of time and effort the last several years simply making ends meet. The commercial appraisal business has faced its own challenges. In particular, there are too … [Read more...]
When you Disagree with Your Commercial Appraiser
Commercial Appraisers are Not Omniscient I probably work 70 hours a week. I can truthfully state that I devote 100% effort to provide the best possible product for my clients and the best support for my opinion of value. Despite the increasing mass of data available, I can't know everything. Last week I was appraising a Subway fast food restaurant … [Read more...]
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