Commercial Vs Res, Who Appraises More $ Per Year?

[Tim The Enchanter]

Why guess? Cut and pasted all jobs with 2016 effective date from Total into spreadsheet.
And the autosum says $300,269,000. Value range $210k - $3750k.
I had 3 weeks off in November. Prices are high here.
Autosum of fees was

 

[Elliott]

I calculated that i was over $2 billion in the last 25 years. I dont see how a commercial could come close unless they are using a form report.

 

[Mike Garrett RAA]

I haven't a clue.

 

[The Warrior Monk]

or $87,500,000 a year. worth of properties

There are residential properties where I work that have sold for more than that.

 

[gregb]

There are residential properties where I work that have sold for more than that.

Not even an A+ location-

http://www.eonline.com/news/837367/...lion-santa-barbara-villa-that-is-now-for-sale

 

[Terrel L. Shields]

I dont see how a commercial could come close unless they are using a form report.

Why? My templates are fast. It's all about learning to actually use and manipulate a word processing program. I have done narrative reports in a matter of two hours or less writing time. "Forms" when I attempted to use those old cumbersome things years ago actually were slower. The Uniform agricultural forms are even worse and oriented towards tillable land, not pastures. It is a rare report that takes me 4 hours to write. Research is the time consumer. If you are doing commercial buildings, you often need to talk to some wheeler dealer broker who doesn't necessarily want to talk to you, or talk to the buyer if you can find someone in a faceless corporation to speak to you. Or you spend time on LoopNet trying to find the "right" comp and then glean information from it. On a poultry farm, you may be trying to contact the flock manager because the fieldman is reluctant to talk to you, so you have to call or track down his boss. About the time they get really familiar with what you want, the flock manager retires or is promoted and you build that relationship again and again. Or you are talking to a Hmong grower on the site who doesn't really understand what you are doing and why you actually stopped by to see him plus some bit of language barrier with the older ones.

A dairy farm and some poultry operations may take four to eight hours just to inspect. But the writing part is far less time if you understand how to construct a template. If you clone chunks from report to report, you will make errors, perhaps huge errors or at least really dumb ones. I recall seeing a report where a poultry farm appraiser has a paragraph about how there was a C store across the street and many small businesses nearby. The next closest HOUSE was nearly a mile away. The closest C store was at least 4 or 5 miles away.

I see so many appraisers frightened to death by actually writing a report largely because they don't understand the Word processing program, cannot build a template, a keyboard merge file, or a simple fill-in. They don't know how to create tables or do calculations, etc. And all that can be learned at the local Vo-tech or adult Word processing classes but if you can't, I bet you can find a local expert to come and give you tips. I'd as soon pay $600 to an instructor to teach me how to construct a template and fill in form than pay that for software...and little commercial software is any cheaper than $600 plus it has you "on the hook" to buy year after year. Once I learned how to manipulate Word Perfect, I've never paid more than a few bucks to upgrade WP about every 3rd remake of the program which is pretty much the same as it was in 2000.

 

[J Grant]

I was averaging a 350k house in my estimate, I do a handful of properties a year that are very high value (5 million plus up top 20 million), that would change the figures...

Highest $ value SFR I ever appraised was a 40 million oceanfront estate...but that was several years ago

 

[residentialguy]

Highest $ value SFR I ever appraised was a $40 million oceanfront estate

So YOU'RE the one who low balled my appraisal!

 

[The Warrior Monk]

I was averaging a 350k house in my estimate, I do a handful of properties a year that are very high value (5 million plus up top 20 million), that would change the figures...

Highest $ value SFR I ever appraised was a 40 million oceanfront estate...but that was several years ago

We've had a handful that have sold $100,000,000+. Interestingly enough, none were improved to their highest and best use.

 

[TRESinc]

in the two counties i cover i can count on one hand the number of $1,000,000+ residential developments (non lake-front) and have a few fingers to spare, and those developments typically have 20-30 units max.

just for fun i just ran a search on my MLS for $1,000,000+ residential property sales in the last 12 month. there were 27 in my main county.

22 of those were between $1,000,000 and $1,960,000.

4 of them were $2,000,000 to $2,950,000.

there was one sale at $3,200,000.

when i add in the next county i cover (much more rural, much lower economic base) the total went up to 34 and the additional 7 sales were $1,000,000 to $1,700,000.

of the 34 total sales 11 of them were lake-front properties, and that included all but one of the sales over $2,000,000.