• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Mixed Use Resort - As completed appraisal

Status
Not open for further replies.

tyger

Freshman Member
Joined
Jun 20, 2008
Professional Status
Appraiser Trainee
State
Canada
A client has asked us to conduct an as completed appraisal on a large mixed use resort development to include hotel, golf, residential, etc etc. off shore.

I wanted to see if anyone out there has tackled this form of appraisal. It is an off shore development and there is a local land appraiser conducting the appraisal on the land based on local comp sales. For our portion of the as completed appraisal of the resort, this is our approach:

Insofar as the master resort appraisal, the land value would be an input to our process where we would prepare As Completed Appraisals on each component via income approach ; Hotel ,Golf, residential, etc. Thus arriving at an Overall value for the resort at a point in time assuming a level of completion within say a 7 to 10 year period. Backing out development costs to get to that level of completion would in theory leave a residual land value to be reconciled with the local appraiser's Input land value.

Phasing and residential absorption becomes critical, but any thoughts on the above approach?
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
I have moved this thread to the newbie section so that it is moderated.
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
If the assignment is for an "As Completed" Value, then why are you performing a Residual Analysis - "As Is" Value?
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks