Extraction Method

[George Hatch]

Me neither, but sometimes you literally have no other choice; like when your assignment is to appraise a lot that actually is an orphan.

 

[Mr Rex]

If you work an area enough, for long enough, you should have good idea of at least the range of site value. This little demonstration, in the report, takes care of the GSE/Gov. Agency requirement for replication by the client and does exactly what you posted ("but appeases the "reviewers" of the report unless totally fubared. "

"I wish Santora was still around.... "

I still have every missive he has ever written to me (and some copied from the forum) regarding the CA. I miss his snarkiness as well as his intellect.

He wasn't a big advocate for the CA in residential assignments of patent (his term) properties.

I agree in the "range of site value" but disagree that it is necessary or credible for anything other than almost identical brand new. GSE/Gov do not require except for brand new. Otherwise its irrelevant, not necessary, and not the best indicator of value. So why go through the virtually meaningless motion?

 

[Joe Flacco]

When using the extraction method I think it helps to consider properties in all condition / age ranges. Plus, undeveloped lots / raw land is not a site. But you guys already know that.

 

[Joe Flacco]

When it is super complicated is when you are developing opinion of site value in neighborhoods of mostly nonconforming lots improved with nonconforming structures but rebuilding to previously existing footprint is permitted. In cases like this the value of the true vacant lots are going to a lot less than the value of the exact same size lot with existing or previously existing over sized structure because you are allowed to build or rebuild a over sized structure for the lot.

 

[Joe Flacco]

When you don't have directly or perfectly comparable site sales then you kind of have to look at it from the different ways available and then reconcile what is observed. Look at available site sales that may be located in surrounding areas, look at raw land sales, look at it using extraction on newer construction, look at it using extraction on nearly fully depreciated improvements, then you can reconcile the different ways of looking at it into your opinion.

 

[CANative]

Or simply read the AI Text "Land valuations" by Boykin.

 

[Joe Flacco]

Or simply read the AI Text "Land valuations" by Boykin.

Why. If it is not saying what I am saying about looking at it in different ways before forming a opinion then you can throw that book in the trash.

 

[Joe Flacco]

 

[Digger88]

It didn't take very long. 15 - 20 minutes.

i was just kidding. very detailed i must say.

 

[andrew81]

Does this sketch seem about right?


View attachment 42440

must be australian, everything is reversed