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  #1  
Old 07-13-2011, 04:23 PM
cny real property cny real property is offline
 
Join Date: Jan 2011
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Smile Short- and Long-lived items

Dear appraisiers:

Am appraising office property in urban setting, proposed hotel and mfg. plant; need support for determination of short- and long-lived building components segregated by individual type, economic life, etc. Can anyone suggest quick and reliable reference, well supported. Would you use Marshall for this?

Thanks so much,
cny real property
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  #2  
Old 07-13-2011, 09:29 PM
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Terrel L. Shields Terrel L. Shields is offline
 
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No. They are attempting to segregate the components of the buildings to take a tax break for the shorter term items which they can depreciate on an accelerated basis. This is expert territory and typically done by engineers or architects working with valuation professionals....don't try this at home.
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  #3  
Old 07-14-2011, 08:17 AM
cny real property cny real property is offline
 
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Default Short- and Long-lived items

Thank you Terrel, nice of you to reply. The question does not relate to court nor for litigation. Just trying to find a reliable source from which to project economic life of such items. Thank you again.
  #4  
Old 07-14-2011, 08:23 AM
Restrain Restrain is offline
 
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M&S commercial book would have such items, but you would need to support your decision. Clearly, carpet would be a short-termed item, while the bone-structure would be a long-lived item.
  #5  
Old 07-14-2011, 11:20 AM
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Elliott Elliott is offline
 
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I once sat down with some new builder cost breakdown and a 'build up' cost service and
separated their costs into long and short lived items. They were close to 50% for each.
As with all things associated with the CA, its a theory based on an assumption and it bears
a limited relationship with the real market.
  #6  
Old 07-14-2011, 11:35 AM
farmguy farmguy is offline
 
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Where are you going to use it? Is the whole project proposed? In Cost Approach it won't matter whether you say the AC will last 13 years or 18 years. As proposed it is 100% good, from a physical long, short, or whatever.
  #7  
Old 07-14-2011, 11:46 AM
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CANative CANative is online now
 
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Proposed hotel and manufacturing plant? Doesn't this strike anyone as being somewhat incongruous uses?
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  #8  
Old 07-14-2011, 03:25 PM
cny real property cny real property is offline
 
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Default Short- and long-lived building components - economic life estimation

Thank you all for kindly responding. The three property types are different valuations, each contained within its respective cover. I am just doing a batch of reports for the same client, and this issue came up and needs to be addressed in all three assignment. Research of Marshall in conjunction with interviewing developers and/or owners of each type should be adequate based on the intended use but other ideas are greatly appreciated.

Thank you to all.

Sincerely,
cny real property
  #9  
Old 07-14-2011, 03:48 PM
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Pittsburgh Pete Pittsburgh Pete is offline
 
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Marshall & Swift Cost Manual section 97--"Life Expectancy Guidelines."
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