Yellowbook Appraisals

[PrincessLeia]

Hey All!

Are there any CGs in here who specialze in Yellowbook appraisals? I'm trying to find peers who might give me some data about this niche: What is the day to day like? How is the pay? Any tips on getting my foot in the door?

I've been a Cert Res for almost 7 years. I'm very diligent and thorough. I am frustrated with the stress, lack of general ethics and incessant demands of the residential appraisal sphere.

At 40, I just finished my Bachelor's degree so I can pursue my Cert Gen with a view of potentially working as an independent contractor with the AVSO. I'm not sure how to start. I believe good apprenticeships are vital to future success.

When I got my Cert Res, like many, I had a hard time finding mentors. Most were subpar and just wanted an admin flunkie. I pretty much had to train myself through courses and work for free for several years. I am 100% on board with making sure I contribute good value to my future CG mentor in exchange for good training. But finding a mentor who actually cares about training you, in addition to one who specializes in yellowbook appraisals, is like trying to find a needle in a haystack. I've already contacted the AVSO for referrals to no avail.

Any helpful tips on the above would be appreciated.

 

[Terrel L. Shields]

Few appraisers specialize in those outside of the few condemnation appraisers who tend to work a broader spectrum of assignments in addition. Otherwise, such work is directly used by the USDA, Forest Service, Corp of Engineers and/or Dept. of Transportation, as the most common agencies who condemn property. That is mostly in house employees. It might be better to think in terms of Conservation Easements, and working for or with state agencies who buy property for conservation purposes, wetlands mitigation, or simply buy the easement. And these are fairly profitable assignments. Local land trusts, Nature Conservancy, University Trust funds, and such. You might also work with oil companies, coal miners, etc. who pay damages to landowners when they drill wells, mine, build roads, etc.

 

[PrincessLeia]

Few appraisers specialize in those outside of the few condemnation appraisers who tend to work a broader spectrum of assignments in addition. Otherwise, such work is directly used by the USDA, Forest Service, Corp of Engineers and/or Dept. of Transportation, as the most common agencies who condemn property. That is mostly in house employees. It might be better to think in terms of Conservation Easements, and working for or with state agencies who buy property for conservation purposes, wetlands mitigation, or simply buy the easement. And these are fairly profitable assignments. Local land trusts, Nature Conservancy, University Trust funds, and such. You might also work with oil companies, coal miners, etc. who pay damages to landowners when they drill wells, mine, build roads, etc.

Dear Terrel, Thank you very much for responding. You hit the nail on the head when you mentioned conservation.... the Dept of the Interior AVSO (appraisal valuation services office) needs yellowbook appraisals for federal land acquisitions for conservation, endangered habitats, national parks, historic preservation sites (such as old historic buildings) and the like. That's exactly what I want to get into.

Its interesting you mentioned coal & mining..... I am in coal country. I had a light offer to work with a CG a few hours from me who does work on easements and with mining and drilling operations. It's not where I ultimately want to go, but it may be a good start. Perhaps I should get my CG classes under my belt and contact him while I do more digging on the yellow book front? The Dept of the Interior does offer a 3 year apprenticeship, but it's closed at the moment with no idea when it will reopen. I've contacted them multiple times but have gotten nowhere. I don't think they respond to requests unless they have openings.

 

[Terrel L. Shields]

Since you were in Wyoming, I mentioned coal. I appraise mineral rights for estates - not in WY but I worked out of Evanston as a geologist for some time - oil and gas.

 

[Zephyr999]

IRWAonline.org
AI book Real Property Valuation in Condemnation
Inversecondemnation.com - court case reviews

The nearby appraiser doing easements is really a good place to start IMO...projects come and go so waiting seems counterintuitive. Plus it's a whole different animal in easement valuation...and having to testify is always a possibility.
It's not for the faint of heart with Yellowbook highest level due diligence...to say it takes a different mindset is understatement.

 

[Terrel L. Shields]

Yep, the ROW people have classes. I understand they are very good classes at that.

doing easements is really a good place to start IMO

 

[Russ Kitzberger]

PM me your phone number, I can fill you in on all your questions.

I have been in the public/quasi-public appraisal area since 2004. Projects I have participated in include Airports, Highways, By-passes, schools, and government buildings for federal, state and local projects, Conservation easements, Wetlands, and Federal Clean Water grants. I am credentialed through ODOT, Ohio ODNR, and completed the Uniform Appraisal Standards for Federal Land Acquisitions course (Yellow Book, Appraisal Foundation).

 

[Mark K]

I've been doing mostly R/W appraising for the past 15-20 years and know many appraisers that work in this field exclusively but I don't know of any that would consider themselves as specializing in Yellow Book appraising. YB guidelines are part of the assignment in many but not all R/W appraisals. Oftentimes the guidelines are determined by the financing source with projects using Federal funds generally requiring YB.

Other agencies such as the DNR, USDA, and others often specify YB in their assignment conditions. YB guidelines seem daunting but are not that difficult when you get the 'hang' of them. You have to look at them with in a way that residential appraisers consider foreign or convoluted but in the long run, these reports are simply longer and more thorough, often to the point of tedious. But...they pay well, usually 5-10X the normal 1004 mtg. report.

I'd suggest taking some courses from the IRWA, try to make some contacts that way, and maybe start training with R/W appraisers since this seems to be where a lot of the YB type of work is taking place.

Good luck.

 

[JTip]

Just got an email from IRWA this morning offering $100 off online courses until Jan 15th (no coupon code needed).

 

[Stone]

I do a lot of Yellow Book work (not ROW) and the rest of what I do generally resembles it even if it isn't done to UASFLA standards - very little of what I do is completely away from that type of work. Please feel free to PM me if you want and I can send you contact information. Happy to talk on the phone - I've done it with a few people from here over the years. No worries if you already have what you are looking for from others.

Edit - I should add that I don't do much actual eminent domain work, just work that falls under YB standards.