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INTRODUCTION TO APPRAISAL BUSINESS
Introduction
What This Book Will NOT Teach You
About The Author
Purpose Of A Real Estate Appraisal
Benefits Of Knowledge Of Appraisals
Description Of A Real Estate Appraisal
Being A Licensed or Certified Real Estate Appraiser
Starting Out And Setting Up A Business
Real Estate Appraisal Education
Tools That Are Helpful
Booking Real Estate Appraisal Jobs
Beginning The Appraisal
The On-Site Appraisal Inspection
(The Operating Systems, Lower Level, Interior and Exterior Inspection sections are EXTREMELY condensed versions of those found in our inspection book: Home Inspection Business From A to Z)
THE OPERATING SYSTEMS INSPECTION
Heating Systems, Advantages of different heating systems, Disadvantages of different heat systems, Air-Conditioning Systems, Domestic Water Heaters, Plumbing System, Well Water Systems, Septic Systems, Electrical System
THE LOWER LEVEL INSPECTION
Lower Level, Crawl Spaces, Gas Service, Auxiliary Systems, Water Penetration
THE INTERIOR INSPECTION
Kitchen, Bathrooms, Floors and Stairs, Walls and Ceilings, Windows and Doors, Fireplaces, Attic Inspection, Attic Ventilation, Attic Insulation
THE EXTERIOR INSPECTION
Roof, Chimneys, Siding, Fascia, Soffits and Eaves, Gutters, Downspouts and Leaders, Windows, Screens and Storms, Entrances, Steps and Porches, Walks, Patios and Terraces, Decks, Walls and Fences, Drainage and Grading, Driveways, Garage, Other Exterior Structures, Swimming Pools, Wood Destroying Insects
Home Inspection Photo Pages
APPRAISING REAL ESTATE
Introduction To Appraising Real Estate
Real Estate Is Unique
The Bundle Of Rights
Public Limits On Real Estate
Private Voluntary Limits On Real Estate
Private Involuntary Limits On Real Estate
Basic Appraisal Concepts
Market Value - Subjective And Objective
The Principles Of Property Valuation
The Analysis Of A City
The Economic Base Of A City
The "As Of" Date Of Valuation
The Highest And Best Use
Highest And Best Use Example
Property Analysis
Land And Site Valuation
DIRECT SALES COMPARISON APPROACH
The Direct Sales Comparison Approach
Narrowing Down The Search For Good Comps
The Adjustment Process
Guidelines For The Adjustments
Electronic Appraisals - Fact or Fiction?
SAMPLE APPRAISAL REPORTS
Single Family Appraisal Report
Condominium Appraisal Report
Multi-Family Appraisal Report
Appraisal Photo Pages
Appraisal Stationery
THE COST APPROACH
The Cost Approach
The Basics Of Appraisal Depreciation
Cost Approach Example # 1
Cost Approach Example # 2
Cost Approach Example # 3 & 4
THE INCOME APPROACH
The Income Approach
Basic Algebra
Leverage Example
Effective Interest Rate Example
ITAO Example # 1
ITAO Example # 2
Cash Equivalency Example # 1
Cash Equivalency Example # 2
Cash Equivalency Example # 3
Make Big Money With The ITAO Tables
Income Capitalization Example
Income Approach and Statistics Example
Income Approach GRM Example
Income Approach GIM Example
HUD/FHA Gross Rent Multiplier Form
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MISCELLANEOUS APPRAISAL INFORMATION
Tax Assessments
Obtaining Information At Town Hall
Condominium And Co-Operative Units
Over Improvements
Other Types Of Housing
Mortgages, Mortgages & More Mortgages
Different Types Of Appraisal Accounts
Miscellaneous Notes
FINISHING THE APPRAISAL REPORT
The Reconciliation Process
Signing-Off On The Appraisal Report
Uniform Standards of Professional Appraisal Practice
ARTICLES BY KENNETH J. JONES
The Cost Approach: It DOES NOT Indicate Fee Simple Market Value!
Real Estate: The Best Investment
How Many Valuation Approaches Are Enough?
Who's The Expert, Anyway?
What's the Value of the Land?
Don't Dictate My Fee
THE VIP’s - HUD, FHA, FNMA, GNMA, and FHLMC
Background and History - "About Them"
FHA Appraisal Roster - Appraiser FAQ's
FHA Appraisal Exam - 200 Sample Questions
HUD/FHA - General Appraisal FAQ's
HUD/FHA - Get A Home Inspection - FAQ's
Valuation Analysis For Home Mortgage Insurance - FAQ's
HUD and FHA Guidelines for Valuation Analysis for Single Family and One- to Four-Unit Dwellings
Sample State Real Estate Appraiser Guidelines
FNMA and FHLMC Guidelines for Completing the URAR Manufactured Home Addendum
HUD Comprehensive Valuation Package - Forms 92564-VC and 92564-HS
Appraisal Form - URAR - FHLMC 70, FNMA 1004
Appraisal Form - FHLMC 465, FNMA 1073
Appraisal Form - FNMA 2055
Appraisal Form - FHLMC 72, FNMA 1025
Appraisal Form - FHLMC 71A
Appraisal Form - FNMA 2075
Appraisal Form - FHLMC 1000, FNMA 1007
Appraisal Form - FHLMC 998, FNMA 216
Appraisal Form - HUD/FHA SA HOC GRM
Appraisal Form - FHLMC 442
Appraisal Form - FHLMC 439, FNMA 1004B
Appraisal Form - ERC
Appraisal Form - FNMA 1104
Test Appraisal Form - FNMA 1004
Test Appraisal Form - FNMA 1004B
Test Appraisal Form - FNMA 1004C
Test Appraisal Form - FNMA 1004D
Test Appraisal Form - FNMA 1025
Test Appraisal Form - FNMA 1073
Test Appraisal Form - FNMA 2055
HEALTH CONCERNS
Asbestos Insulation
Radon Gas
Health Concerns Photo Pages
WHAT NO ONE ELSE TELLS YOU!!
Reality Talk
Third Parties To The Transaction
Verify Everything With The Documentation
The Sad Truth
Check Town Hall... Or Else
You Have The Right To...
Is The Listing Accurate?
A Catch 22 Position
People Who Have No Right To Remain Silent
Talk To The Neighbors
Be Totally Objective - Part 1
Be Totally Objective - Part 2
Negotiating Realities To Assist Your Client
Don't Let Your Client Be Pressured
Lay All The Cards On The Table
Safety Concerns
Don't Over Exaggerate Problems Or Repairs
Is It Possible To Build A... ?
Report Writing
The Report Is Totally Confidential
Appraisal Referral Realities
Some Good Reasons For Federal Regulations
You Get What You Pay For
Handling Client Complaints
Know-It-All People
Certified, Licensed Or Just A Dreamer?
Tell Your Client To Ignore The Hypocrites
Straight Talk
Motivational Talk
Conclusion
The Author
Appraisal Related Web Sites
State Real Estate Appraiser Boards
Real Estate Terminology Glossary
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