Monthly Archives: August 2013

Limitations of the Market Comparison Approach

While on its face this approach seems quite objective, imperfections of the real estate market call for a number of subjective interpretations. Though personal judgments may be minimized, this approach has limitations that may require dependence on the income or cost approach to value. Time of Sale. In selecting sales, a compromise must be made […]

STATEMENT OF LIMITING CONDITIONS

I assume no responsibility for matters legal in character-, nor do I render any opinion as to the title, which is assumed to be good. All existing liens and encumbrances have been disregarded and the property is appraised as though free and clear under responsible ownership and competent management. Further, I have made no survey […]

APPRAISAL REPORTS

The estimate of market value takes the form of a written appraisal report. Such reports may be on standard forms, or they may be presented in a more formal narrative fashion. For mortgage purposes, especially where single-family dwellings are concerned, the form appraisal is more frequently used. For income properties and for appraisal reports prepared […]

Noncompetitive Market

Yet in reality the real estate market does not conform to the criteria for a purely competitive market. For example, buyers and sellers of single-family dwellings are sufficiently few for the sale of a house to affect the offering and asking prices of nearby houses subsequently placed on the market. Since there are relatively few […]

The Market and Cost Approaches to Value

The Market and Cost Approaches to Value Hi my name is Brandon McHarkey. I am a retired expat who decided to slum it out here in the Philippines after I have fallen in love with this country (and a woman in fact). Now I do charity work and blog about several topics to save my […]