Greenwich

USPAP Standard 1-6

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Standards Rule 1-6

In developing a real property appraisal, an appraiser must:

(a)

 reconcile the quality and quantity of data available and analyzed within the approaches used; and

(b)

 reconcile the applicability or suitability of the approaches used to arrive at the value conclusion(s).

Comment: See the Comments to Standards Rules 2-2(a)(viii), 2-2(b)(viii), and 2-2(c)viii) for corresponding reporting requirements.

5.

See Statement on Appraisal Standards No. 9 (SMT-9), Identification of Intended Use and Intended Users.

6.

See Statement on Appraisal Standards No. 9 (SMT-9), Identification of Intended Use and Intended Users.

7.

See Advisory Opinion 19, Unacceptable Assignment Conditions in Real Property Appraisal Assignments. References to Advisory Opinions are for guidance only and do not incorporate Advisory Opinions into USPAP.

8.

See Statement on Appraisal Standards No. 6, Reasonable Exposure Time in Real Property and Personal Property Market Value Opinions. See also Advisory Opinion 7, Marketing Time Opinions, and Advisory Opinion 22, Scope of Work in Market Value Appraisal Assignments, Real Property. References to Advisory Opinions are for guidance only and do not incorporate Advisory Opinions into USPAP.

9.

See Statement on Appraisal Standards No. 3, Retrospective Value Opinions, and Statement on Appraisal Standards No. 4, Prospective Value Opinions.

10.

See Advisory Opinion 2, Inspection of Subject Property, and Advisory Opinion 23, Identifying the Relevant Characteristics of the Subject Property of a Real Property Appraisal Assignment. References to the Advisory Opinions are for guidance only and do not incorporate Advisory Opinions into USPAP.

11.

See Advisory Opinion 17, Appraisals of Real Property with Proposed Improvements. References to Advisory Opinions are for guidance only and do not incorporate Advisory Opinions into USPAP.

12.

See Advisory Opinion 28, Scope of Work Decision, Performance, and Disclosure, and Advisory Opinion 29, An Acceptable Scope of Work. References to Advisory Opinions are for guidance only and do not incorporate Advisory Opinions into USPAP.

13.

See Statement on Appraisal Standards No. 2, Discounted Cash Flow Analysis.

14.

See Advisory Opinion 24, Normal Course of Business. References to Advisory Opinions are for guidance only and do not incorporate Advisory Opinions into USPAP.

15.

See Advisory Opinion 1, Sales History.  References to Advisory Opinions are for guidance only and do not incorporate Advisory Opinions into USPAP.

Original content was published in The Appraisal Foundation site.

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Contact C.R.E.A.

Email: info@CompleteREA.com

Phone: +1 203 858 6727

Complete Real Estate Answers, Inc.
453 Webbs Hill Road
Stamford, CT 06903

Nana G. Smith, Proprietor

Web & Blog: CompleteREA.com (you are here)
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USPAP Standard Rule 1-5

NanaGSmith 2 Comments

 

Standards Rule 1-5

When the value opinion to be developed is market value, an appraiser must, if such information is available to the appraiser in the normal course of business: 14

(a)

 analyze all agreements of sale, options, and listings of the subject property current as of the effective date of the appraisal; and

(b)

 analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. 15

Comment: See the Comments to Standards Rules 2-2(a)(viii), 2-2(b)(viii), and 2-2(c)(viii) for corresponding reporting requirements relating to the availability and relevance of information.

Original content was published in The Appraisal Foundation site.

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Contact C.R.E.A.

Email: info@CompleteREA.com

Phone: +1 203 858 6727

Complete Real Estate Answers, Inc.
453 Webbs Hill Road
Stamford, CT 06903

Nana G. Smith, Proprietor

Web & Blog: CompleteREA.com (you are here)
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STEPS FOR SUCCESS

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CREA, CompleteREA, Nana Smith, 203-858-6727, Stamford, CT

  • Surround yourself with and meet like-minded individuals.

  • Participate in a mixed-agenda format challenges for connecting, creating, learning and sharing.

  • Listen to veteran entrepreneurs share their successes and struggles.

  • Have your most-pressing business challenges, concerns, and questions discussed in an open.

  • Sick for practical advice, feasible solutions, and innovative ideas to work into your business strategy.

  • Hear from seasoned business owners, entrepreneurs, and experts during informative panel discussions.

  • Discover what it really takes to build a thriving, profitable business.

  • Identify growth strategies, business opportunities, and resources for your entrepreneurial venture.

  • Uncover steps to expand your company in the midst of economic challenges.

  • Continue conversing and connecting with your peers.

Source

How to Built Your Real Estate Bussines

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CompleteREA, Crea, Complete Real Esatate Answers, Inc.Becoming an established name in the real estate industry is a tough road to go down, but the best in the business know exactly how to market themselves and find clients. For those that are just starting out, however, it can be challenging to build that same network of potential listings.

Even so, there are a number of ways a professional can find success in real estate. At its core, the job is about getting these listings – and that is achieved via relationships. Nothing is more frustrating than having a possible client decide to go work with a competitor, but thankfully this scenario can be avoided with a few simple steps and a smart plan.

In order to get started, here is how real estate agents often lose clients, and a few recommendations to prevent that from happening again:

  1. Never lose touch with clients
  2. Always be on the lookout for clients

Read the original article hereComplete Real Estate Answers, Inc. CREA, ComplteCREA

And here are few tips which I learned when I stared my real estate career:

  • Always wear your Realtors’ pin. Make it attractive and unusual looking. It will become a subject of conversation and once a conversation has started, a connection has been made.
  • Have a very small mailing list (no more than 100 names), to start your marketing, but do it repeatedly, once every 6 weeks.
  • Use holidays to softly market yourself as a “knock on the door.”  Scenario; It’s the Fourth of July, you knock on the door, while holding a small potted flower with the American flag sticking out of the pot, along with your business card, who wouldn’t want that?!
  • Learn and master your elevator speeches to present yourself as quickly and self-assured as possible.
  • Newbies, if you’re asked: “How long have you been in business?”- There is always a true answer: “Seems like forever!”  Try it
  • Do not be afraid to try, to be creative nor to be different – there is no failure, just experiences.

Share with us what is or was your experience in starting your real estate career?

Another great links and helpful information are bellow:

  1. 5 reasons to loose client
  2. 1st month in real estate business

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Contact C.R.E.A. and Nana Smith

Email: info@CompleteREA.com

Phone: +1 203 858 6727

Complete Real Estate Answers, Inc.
453 Webbs Hill Road
Stamford, CT 06903

Nana G. Smith, Proprietor

Web & Blog: CompleteREA.com (you are here)
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The Cost Approach

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complete real estate answers, inc. crea

Beyond its use as independent method to determine property value, the cost approach presents a highly effective way to verify market and income-based valuations, project construction costs and adjust estimates to account for unique physical property features.

As an independent valuation method
An essential valuation method, the cost approach is crucial to various appraisal assignments, including when appraising new or proposed construction, when lack of market activity limits the effectiveness of the sales comparison (market) approach, when land value is well supported, when improvements represent the best use of land, and for special purpose or specialty properties not frequently exchanged.

Develop an opinion of market value
Based on the reasoning that a buyer will not pay more than what it would cost to reproduce or replace the subject property, the cost approach enables the appraiser to develop an opinion of market value based on the current costs of labor, materials, related fees, and any entrepreneurial profit or incentive. Marshall & Swift provides the cost data needed to determine this value.

Read Full Article Here

Appraising Summer Mornings

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I love appraising early summer mornings. One goes on the field and one may see wonders.  This summer morning, in Greenwich, CT “back county” neighborhood has a special beauty in it. Roads are back roads that are quiet in the early mornings, it roams large, and is kept in a natural way… where one can spot a deer running through the fields.

This is what I saw yesterday while appraising in Greenwich, CT back county.

Complete Real Estate Answers, Inc. Greenwich, CT

complete real estate answers, inc, greenwich ct

 

Fellow appraisers comment on what do you like about being on the field using form bellow:

Contact C.R.E.A.

Email: info@CompleteREA.com

Phone: +1 203 858 6727

Complete Real Estate Answers, Inc.
453 Webbs Hill Road
Stamford, CT 06903

Nana G. Smith, Proprietor

Web & Blog: CompleteREA.com (you are here)
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~ ~ C.R.E.A.

Monday Inspirational Quote

NanaGSmith 3 Comments

Monday morning @ Complete Real Estate Answers, Inc with inspirational quote.

Good way to start a new week!

Complete Real Estate Answers, inc. Appraisal, renovations, short sales

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