Cost Approach

[cierrajbyrd]

Appraiser Trainee Here! In your opinion, which cost manual (brand) do you believe is best to use when developing the Cost Approach? And Why? Do you recommend an actual manual or a online estimator? Im leaning towards Craftman.

 

[Elliott]

I like Solomon and they have some useful calculators. It has enough detail to be credible, though I virtually give no weight to the Cost Approach.

Solomon Adjustment Calculator

www.solomonappraisal.com

 

[Surf Cat]

I use Spark which fills in the Subject info, SCA grid with your chosen comps, provides a market trend of sales competitive to the subject, as well as the overall trend of the neighborhood market from all the sales. AND it includes Dwelling Cost for your Cost Approach which is okay. Not as detailed as M&S or Craftsman but, it works.

Spark

Spark puts appraisers in control—streamlining trend analysis, the cost approach, and more with ease and accuracy.

landing.sparkforappraisers.com

 

[Tim Hicks (Texas)]

Marshall & Swift for 32+ years.

 

[Trihard]

Appraiser Trainee Here! In your opinion, which cost manual (brand) do you believe is best to use when developing the Cost Approach? And Why? Do you recommend an actual manual or a online estimator? Im leaning towards Craftman.

Get out of this industry as soon as you can. The government and all the major financial organizations are trying to do everything possible to get rid of appraisers. There is no future here.

 

[Terrel L. Shields]

I quit M & S and I use NBC Cost Guide. I also buy their Renovations & Insurance guide. For commercial properties I lean towards R. S. Means . All 3 combined are cheaper that M&S. All the guides buy data from the same sources. The difference is in presentation and how the manipulated the algorithms. BUT if you want an excellent source for cost try the California Assessors on line cost book.

Assessors' Handbook (AH)

Assessors' Handbook - Table of Content

www.boe.ca.gov

 

[cierrajbyrd]

I use Spark which fills in the Subject info, SCA grid with your chosen comps, provides a market trend of sales competitive to the subject, as well as the overall trend of the neighborhood market from all the sales. AND it includes Dwelling Cost for your Cost Approach which is okay. Not as detailed as M&S or Craftsman but, it works.

Spark

Spark puts appraisers in control—streamlining trend analysis, the cost approach, and more with ease and accuracy.

landing.sparkforappraisers.com

Just reviewed. Will give it a try! Thanks!

 

[cierrajbyrd]

I like Solomon and they have some useful calculators. It has enough detail to be credible, though I virtually give no weight to the Cost Approach.

Solomon Adjustment Calculator

www.solomonappraisal.com

Will give it a try! Thanks

 

[cierrajbyrd]

I quit M & S and I use NBC Cost Guide. I also buy their Renovations & Insurance guide. For commercial properties I lean towards R. S. Means . All 3 combined are cheaper that M&S. All the guides buy data from the same sources. The difference is in presentation and how the manipulated the algorithms. BUT if you want an excellent source for cost try the California Assessors on line cost book.

Assessors' Handbook (AH)

Assessors' Handbook - Table of Content

www.boe.ca.gov

Thank you!

 

[sputnam]

Marshall & Swift has been the go to for a long time. However, they have priced themselves out of the reach of many. I like Solomon as an alternative.