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Link to example of Commercial Appraisal

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DonRico

Senior Member
Joined
Nov 26, 2002
Professional Status
Certified General Appraiser
State
South Carolina
I would like to add my perspective.....

I think these reports were well done. The Assumptions and Conditions were clearly spelled out. And the Market Area and Neighborhood Descriptions gave a good overview of the Subject's Area, without a lot of fluff.

HBU analysis, both As Vacant and As Improved, was clear and thorough. The Comps in Sales Comp Analysis appear to be well chosen and accurately described.

Each report has a concise Executive Summary, backed up with solid data analysis.

Being objective, my only concern would be the photos. In the first two reports the photos are not well presented. Personally I don't like to see photos rotated sideways, and I like to see plenty of text explaining what the photo is showing. I would have oriented the photos properly with more descriptive text, even if it took a few more pages to do so. Photos are the only real way I have of forming MY OWN UNBIASED OPINION of the property. All the verbiage can be spun in various ways, but the photos are like boots on the ground.

The third appraisal has great photos, in my opinion.
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
Those reports are about half the size of most reports I see, and half of the reports were exhibits. The HBU alone is about the 1/4 the size of most HBU analysis...just seems considerably without a lot of analysis, just exhibits.
 

DonRico

Senior Member
Joined
Nov 26, 2002
Professional Status
Certified General Appraiser
State
South Carolina
I don't want to get into judging the merits of the reports based on volume. I'm reminded of Winston Churchill's comment about a particularly verbose paper, "This report, by its very length, defends itself against the risk of being read."

I think there was enough analyzation presented, without getting into paralysis by analysis.

I would have liked to have seen more photos, for the very reason that I stated above.

A picture is worth a thousand words.
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
I base the content of my report based on what my peers do, and most commercial reports offer more analysis than these reports. I agree the volume of a report is not a prequisite of a report but most of the analysis is bolierplate, the original analysis are incredibily short and like I said before a report that is mostly exhibits (pictures included) reflects a lack of content...especially with commercial appraisals.

That report would not fly in my market.
 

Ariba

Senior Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Colorado
Those reports are about half the size of most reports I see, and half of the reports were exhibits. The HBU alone is about the 1/4 the size of most HBU analysis...just seems considerably without a lot of analysis, just exhibits..

I base the content of my report based on what my peers do, and most commercial reports offer more analysis than these reports.

What additional analysis would you have included in the report to make it more credible? Would this additional analysis have changed the final opinion of value? :shrug:

Some people can put into words in one paragraph what other people can't get across in 5 pages. :rof:
 

JT1974

Senior Member
Joined
Dec 16, 2006
Professional Status
Certified General Appraiser
State
Wisconsin
Remember that the amount of detail and analysis will vary greatly depending upon the Intended Use/User of the report. Not all appraisal reports are Self-Contained. None of the members of the AppraisersForum are intended users of the reports. It may be the case that the intended users are quite familiar with the properties and that the appraisal reports met all of their needs.

I guess that's the beauty of the new Scope of Work rule.

Just my two cents.
 

Tim Schneider

Member
Joined
Feb 8, 2007
Professional Status
Certified Residential Appraiser
State
Wisconsin
It was intersting to see the appraisers resume was detailed enough to include the fact that he player high school football. Are any of you including this much detail?
 
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