Reproduction Cost

[Phil McDonald]

Over the years I have done many appraisals specific for insurance purposes. Most of the time these are replacement cost estimates and years ago some were reproduction cost estimates. I am now looking to do another reproduction cost estimate and it seems the online data sources which I subscribe are not providing reproduction cost data. I use Swift Estimator and 360Value for cost data. I contacted Core Logic and they indicated that reproduction cost was not an available option online with Swift Estimator.

Is anybody utilizing an online data source for reproduction cost data? Are the Marshall and Swift Books the only place where this data can be found or are there other data sources?

Thanks for taking the time to provide your insight.

 

[Deleted member 152047]

Phil, you may want to reach out to Patricia Staebler, SRA. This type of thing is her bread and butter. I am not aware of any reproduction cost methods outside of using segregated costs in MVS and consulting a professional (i.e. contractor/builder).

 

[jay trotta]

I will suggest, Building Cost.Net
They have a; variation of costs and you may find that to provide what you need; I use it for replacement costs, but they have a variation building avenue's within their system available. Additionally you can call them and speak with someone who may be able to send you in the right direction. Been using them for years
Good Luck

 

[Elliott]

Phil,
What definition of "market value" are you operating under in your assignment? In theory, the difference between Reproduction Cost New and Replacement Cost New is functional obsolescence. If I needed a source of reproduction cost I would retain a local builder to give a cost estimate (and pay him appropriately). It has been my experience that insurance companies only insure for depreciated replacement cost of a house or building, and they also want to not pay for the foundation, or installed utilities, so its a very restricted concept of value.

 

[Phil McDonald]

Phil,
What definition of "market value" are you operating under in your assignment? In theory, the difference between Reproduction Cost New and Replacement Cost New is functional obsolescence. If I needed a source of reproduction cost I would retain a local builder to give a cost estimate (and pay him appropriately). It has been my experience that insurance companies only insure for depreciated replacement cost of a house or building, and they also want to not pay for the foundation, or installed utilities, so its a very restricted concept of value.

Elliot, you are correct that it is a very restricted concept of value and "market value" is not part of this equation. It is not about that. Market value is easy. We can all figure that out. This is a very specific thing. This is the reproduction cost of a historic building. This is not about market value.

 

[Phil McDonald]

Phil, you may want to reach out to Patricia Staebler, SRA. This type of thing is her bread and butter. I am not aware of any reproduction cost methods outside of using segregated costs in MVS and consulting a professional (i.e. contractor/builder).

Thank you for your insight. I may reach out to Patricia, thank you for sharing this resource with me.

 

[Phil McDonald]

Tha

I will suggest, Building Cost.Net
They have a; variation of costs and you may find that to provide what you need; I use it for replacement costs, but they have a variation building avenue's within their system available. Additionally you can call them and speak with someone who may be able to send you in the right direction. Been using them for years
Good Luck

Thanks for the resource, that is a great site. I have used it many times. I love how easy it is to use.

 

[Terrel L. Shields]

Look for something called reconstruction cost new which typically runs 10-20% higher and reflects allowances for demolition and was intended for the insurance business. MS has it and I don't think they are the only one. Check Means or NBC.

 

[jay trotta]

Elliot, you are correct that it is a very restricted concept of value and "market value" is not part of this equation. It is not about that. Market value is easy. We can all figure that out. This is a very specific thing. This is the reproduction cost of a historic building. This is not about market value.

Reproduction of Historic Buildings is a quite a bit different; In my area there are only a few builders that provide that type of work and they get Premium dollars for that reason (limited competition). Research will be a key point and you will need to find active builders to verify a cost analysis (IMO). Years back I remember doing something similar on a Post & Beam project and had to gather data from some different surrounding States to verify costs and then (2) local builders as a check method. You will earn your money on this and be sure you get enough to start off with.
Good Luck.