In the world of commercial real estate, taxes are an important consideration. Real estate taxes are based on the value of the property as estimated by the local tax assessor. In most cases, the assessor does a pretty good job. But in some cases, the estimate is far too high, resulting in excessive tax bills for some people and corporations. Are you … [Read more...]
The Commercial Appraisal Process
The Appraisal Process Thousands of commercial appraisals are ordered every day. If you own or have owned a commercial building, chances are that a commercial appraisal was ordered by your lending institution to evaluate the value of the property against the loan amount. An appraisal simply provides an educated opinion of the value in order to … [Read more...]
Commercial Appraisers are Human Too
Appraising Commercial Property in the Real World People are now calling the recent economic turmoil that began in 2008 'The Great Recession.' If you're like me, you've spent a great deal of time and effort the last several years simply making ends meet. The commercial appraisal business has faced its own challenges. In particular, there are too … [Read more...]
When you Disagree with Your Commercial Appraiser
Commercial Appraisers are Not Omniscient I probably work 70 hours a week. I can truthfully state that I devote 100% effort to provide the best possible product for my clients and the best support for my opinion of value. Despite the increasing mass of data available, I can't know everything. Last week I was appraising a Subway fast food restaurant … [Read more...]
Demographic Profiling in Commercial Appraisal Work
I was talking with a friend last night about the unfortunate events surrounding the closing of Gloryland Harvest Church in Radcliff, KY. A large percentage of the congregation of Gloryland Harvest Church consisted of military families from nearby Ft. Knox military base which, under the Base Realignment and Closure Act (BRAC), recently lost around … [Read more...]
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