Woe is the market analyst who shoots from the hip. There is too much opportunity and rationale these days, or for that matter, at any time, for closer examination of the data, analysis, and conclusions set forth by appraisers reporting the decision-making processes of participants in the real estate market.
Who among us has not been [...]

Accurate valuation is enhanced by solid operating history. However, it iscommon to rely upon expense comparable data when valuing propertiesthrough direct capitalization. Understanding how operating expenses varyfrom region-to-region is key, especially for specialized lenders and investorslooking to expand into other national markets. The table to the right is asampling of over 200 expense comparables located [...]

Way back in November 1996, Oregon voters passed Measure 47. This was a constitutional amendment popularly referred to as the “cut and cap” tax reform act. The “cut” aspect of the legislation referred to a reduction in taxes for the 1997-98 tax year calculated as the lesser of the 1994-95 taxes or 90 percent of the 1995-96 taxes. Bonded debt would be exempt from the calculations. The “cap” aspect of the measure restricted growth in taxes to no greater than 3 percent annually after the 1997-98 tax year.

As many property owners are well aware, their properties have quite possibly lost value over the past year. Many of these investors are either (a) stuck holding their properties with blind hope that values will reach the inflection point (point where values change from decreasing to increasing) and begin to regain their recent losses or [...]