What’s going to happen with Boston real estate? In the coming weeks, months, and years, is it going to go up, down, or sideways? Is it time to buy or sell? One thing’s for sure: No one knows. No one has a crystal ball, and there are countless factors that can affect property values. However, […]
Appraisals express value as the monetary relationship between properties and those who buy, sell or use those properties, as defined by the Uniform Standards of Professional Practice(USPAP). Fundamental to appraisal practice is the idea of comparing the subject of an assignment to other properties. The Sales Comparison Approach is the foundation of appraisal analysis: appraisers
The demand for all types of real estate in New England reflects region-wide economic factors. While the national economy influences geographical real estate values, some 2019 trends unique to New England are especially important to buyers and investors. These trends include labor characteristics, financial considerations, and population behavior.
Many residential appraisals don’t require the application of the cost approach, but there are situations where separate value opinions for land and improvements are necessary. In certain circumstances, the sales comparison approach is hampered by a shortage of sale properties that are truly comparable to the subject. Experienced appraisers recognize that a peculiar improved property
What is the process when private real estate is needed for public projects? ‘Eminent domain’ is the label frequently used to describe that process, and its basis lies in the U.S. Constitution. All U.S. states, including Massachusetts, have their respective statutes regarding the state taking private real property. Although eminent domain’s application has expanded in
Most improved real properties and many vacant tracts can only be sold subject to existing easements. Appraisers identify existing easements and consider their effect on value whenever a market value definition is part of an assignment. Easements and rights-of-way often influence how real property can be used and may even affect a property’s ownership cost.
It’s standard procedure for most commercial lenders to request all three approaches to value—sales comparison approach, income approach, and cost approach—be undertaken during an appraisal. Usually, there is a stipulation that an approach may be excluded from the valuation if such an approach is deemed dispensable. This omission can be a point of conflict between
The Market Analysis section in an appraisal report contains precious information that directly influences the value of a property and also provides priceless insight into a myriad of data relating to the financial feasibility of a property. It is common for many prospective users of an appraisal report to ignore various sections of the report
If you’re planning your next development, considering strategies for an upcoming renovation, or managing an existing build, how can you maximize the returns from the project and do something good for human health and the environment? There are an array of strategies and methods to reduce environmental impact, limit energy and water consumption, increase demand
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