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California
Appraisers
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THE VALUATION PROCESS *
California Appraisers
(310) 378-6575 (877) 378-6575 Email: Appraiser@CaliforniaAppraisers.Net
THE VALUATION PROCESS *
Definition of the Problem
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Identification of real estate |
Identification of property rights to be valued |
Use of appraisal |
Definition of value |
Date of value estimate |
Description of scope of appraisal |
Other limiting conditions |
Preliminary Analysis and Data Selection and Collection
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General (Region, city and neighborhood) Social Economic Government Environmental |
Specific (Subject and comparables) Site and improvements Cost and depreciation Income/expense and History of ownership |
Competitive Supply and Demand (The subject market) Inventory of competitive properties Sales and listings Vacancies and offerings Absorption rates Demand studies |
Highest and Best Use Analysis
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Land as though vacant Property as improved Specified in terms of use, time, and market participants |
Land Value Estimate
Application of the Three Approaches
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Cost |
Sales comparison |
Income capitalization |
Reconciliation of Value
Indications and Final Value Estimate
Report of Defined Value
* The Appraisal of Real Estate, 11th edition. Copyright 1996 by the Appraisal Institute, Chicago, IL
(310) 378-6575 (877) 378-6575
Email: Appraiser@CaliforniaAppraisers.Net
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