canadian data sources

[Vernon Martin]

Can you recommend a good residential subdivision appraiser in Edmonton?

 

[Roy Somers]

Edmonton is 400 miles to the south east of where I live and Lamont is 435 miles south east. I will try and touch base with a colleague in Edmonton today and post back to you then.

 

[Mike Boyd]

I would also question your geographic competence. How are you going to know if the comps used are really comparable? How will you determine market reaction? Land appraisal is a different animal than a typical residential appraisal. About 17 years ago I got into serious trouble on a land appraisal where I was not really competent. I had completed hundreds of SFR appraisals in that market area....but no bulk land reports. If I did not have E&O insurance, I would still be paying off a judgment. As it happened, it took about 5 years of extremely high rates to get insurance. The court case, with appeals, took almost 10 years to settle. I don't know what your fee is but, in my opinion, it could not be high enough to go through that again.

 

[Vernon Martin]

Mr. Boyd, if my employer wants to send me to Alberta to review an appraisal report, what would you have me do? Quit my job?

 

[Non Sequitur]

Watch out for those Canadian blacklists, I hear they don't appreciate yankees on their turf. But hey, we all know things like that never happen, ya' know with everyone so fair minded and such.

 

[Roy Somers]

Vernon,

I reviewed the title search again and the total acreage of the parcel NE 22-55-19-W4M is 152.55 acres not 143 acres. 5.44 acres and 2.01 acres are taken out for county roads. I then did aerial photo search of the property and could not see any urban development surrounding the quarter, only more farmland. I then did a Google Earth of the Town of Lamont, Alberta and the quarter appears to be approximately 1.5 miles to the north east of the Town. Could it be that the subdivision is a farmstead separation or perhaps a country residential parcel? My colleague in Edmonton is still away for the holidays so I have no contact information for you yet.

 

[Michigander]

Roy, I think you are being wonderfully generous with Vernon and that is great.

 

[Vernon Martin]

Thanks, Roy. You didn't mention who your colleague is, but I have left a message with Bourgeois and Company in Edmonton soliciting their services.

What you've found in your research does not surprise me. There is usually a reason why a property owner has to solicit loans from so far away. The town of Lamont has supposedly rezoned this parcel for residential development at 4 to 5 units per acre (which is one of the things I must verify), but it seems that development of more than 600 residences in a town of only 1600 is extremely speculative. The argument I've heard to justify such a rapid increase in inventory is the story of the economic miracle of the Alberta Industrial Heartland. The housing must be intended for all the new oil sands workers, a phenomenon made known to Americans in the 60 Minutes news program. I remember the 60 Minutes program saying that the hub of the oil sands activity is in Fort McMurray, which seems quite a distance north of Lamont, though.

Thanks again.

 

[Stephen J. Vertin MAI]

Roy:

This is so cool that you have come to visit us. Welcome to the forum. I really hope you visit often. I for one would love to hear about appraising in Alberta. There use to be a fellow from Australia who would come and talk to us but I have not seen him post in awhile. It is my understanding there is no licensing required in Alberta. Is this true? Are you a member of the Appraisal Institute of Canada?

Mike:

I am with you the last thing you want to do is get sued. Be careful Vernon but I have to honestly say I would not turn down the assignment. It is just tooooooooo good of an opportunity to learn. That is what make this job fun. The new hard stuff. It sounds exciting.

 

[Roy Somers]

Vernon,
Fort McMurray is about 240 miles north of Lamont and what you are suggesting is entirely possible. A check with the Lamont County office in the Town of Lamont would provide you with some answers to that question as the County Council would have to approve such a development. They're phone # is: (780) 895-2233 (Main Office) and fax # is: (780) 895-7404, E-mail is: info@tclamont.ca

Hi Stephen,
Legislation requiring that all real estate appraisers in Alberta be licensed through the Real Estate Council of Alberta became law on October 1, 2004. To become licensed you must belong to a Canadian appraisal organization. There are two appraisal organizations in Canada, The Canadian National Association of Real Estate Appraisers and The Appraisal Institute of Canada. I am a member of The Canadian National Association of Real Estate Appraisers (CNAREA). The Canadian National Association of Real Estate Appraisers has a formal alliance with the National Association of Independent Fee Appraisers in the USA. This alliance encompasses full reciprocity of designations and educational courses. In fact I just completed "Techniques of Income Property Appraising #2.2" in Calgary in November. The instuctor, James V. Latteri, IFAS,DAC,CAR is from Washington and is a member of NAIFA. CNAREA members abide by USPAP and AIC members have they're own standards they refer to as CUSPAP.