THIS IS THE LAST POST ON SOAPBOX - please visit MATRIX for future appraiser-related content! Back in 2005, I entered the blogging fray out of frustration with the way appraisers were treated in the lending process. Thus, Soapbox was born. It was a labor of love for me and for the numerous contributors [...]
THIS IS THE LAST POST ON SOAPBOX - please visit MATRIX for future appraiser-related content! Back in 2005, I entered the blogging fray out of frustration with the way appraisers were treated in the lending process. Thus, Soapbox was born. It was a labor of love for me and for the numerous contributors [...]
Soapbox is an attempt to comment on and capture issues and views of the appraisal industry and hopefully provide some suggestions for a fix and to further our collective knowledge by sharing ideas. Soapbox is meant to be an industry resource, a repository of information that can help inform, annoy, educate and motivate, change.
Friday morning I was invited to be a guest to talk about appraisers and how they are impacting the flow of housing sales. I was initially concerned that this would be an appraiser slam piece, blaming our industry for killing sales, causing global warming and low salaries of central bankers but it wasn’t and [...]
The Massey Knakal Income Property Report that I prepare on behalf of the brokerage firm was just released for the second half of 2008. The report is the only one of its kind that tracks cap rates, income multipliers, price per square foot and number of sales for the New York City multi-family market. As this report included only those sales (above $500,000) that closed from July 1 through December 31, it includes sales closed before and after the market turn in mid-September, when Lehman collapsed and the credit markets seized...
Buried in all USPAP appraisal reports is a comment on the property’s exposure period and marketing period. Simply put, the exposure period is intended to reflect the time that the property hypothetically would have been exposed on the open market prior to the effective date of value. Alternatively, the marketing period is an estimate of the time that it would take for the property to sell after the date of value...