Three traditional approaches to property valuation

Depending on the type of property to be appraised and the type of appraisal report to be delivered, real estate appraisers employ three different techniques for property valuation. They are the sales comparison approach or the market data approach, the cost approach and the income approach or the income capitalization approach.

The sales comparison approach or the market data approach compares the property to be valued to similar properties with similar features that have been recently sold in similar transactions, considering all such factors that affect the valuation of such property. The value of the property is usually the sum of the values of all the components of the property that affect utility.

The cost approach is based on the assumption that no prudent buyer or investor would pay more than the cost that would be incurred to build a similar or equivalent property. The method includes determination of the cost of the site, estimation of the cost of improvements and making adjustments for depreciation. The depreciation can be due to time, wear and tear, and obsolescence.

The income approach or the income capitalization approach is usually used for estimating the market value of properties that generate income such as office buildings, apartment buildings, shopping centers and warehouses. The approach is based on anticipation of income or expectation of income from the property in future. This method considers mainly two factors. One is the market rent that can be expected to be earned by the property and secondly, the resale value of the property.

Although it is not required that an appraisal process uses all the three approaches to determining the value of a property, the most reliable appraisal would be one that uses all the three techniques.

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Matt Moore Appraiser, Newtown amc / matt moore, Matt Moore AMC, Maverick amc / matt moore, Nationwide amc / matt moore,

What should you look for in an appraisal report?

A professional, accurate, unbiased appraisal helps the seller get a fair price for his property and the buyer a fair value for his money. A good appraisal is important to help ensure the offer is competitive while it is also able to fetch a reasonable price. A good appraisal also helps in closing a quick sale at an appropriate price. Staying in the market for too long may reduce the chances of a property being sold at a good price, or worse, it may not be sold at all.

Liberty One AMC, LLC, Newtown, PA is an appraisal management company owned and operated by full-time real estate appraisers and the company has its presence in all 50 states. The company has a team of skilled, professional appraisers who are fully accredited, and have a reputation of delivering quality reports within scheduled time. Steered by Matt Moore, President, the company is known for delivering high-quality, accurate reports thus ensuring fair value to all concerned. The following are the essential points that a home appraisal should include:

·         The report should include all details about the home - both factors that would help push up the price of the house and those that may cause to lower its value. This would also give the seller a chance to address any such issues that are amenable or restorable before putting the property up in the market.

·         The report should contain a comparison of similar properties with similar features in the same neighborhood or locality.

·         The report should have a description of the neighborhood and all its features that could affect the price of the property.

·         The report should study the real estate market of the region.

·         A thorough report will also give an estimated period within which a sale should happen.

Having said all of the above, it is advisable to get the appraisal of a property done just before it is put up for sale. This would ensure that all of the details mentioned above are relevant to the time of sale of the property. If the appraisal had been done much before the time of sale, it is possible that the actual value of the property may have increased or decreased from what it was at the time of appraisal.

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Matt Moore Appraiser, Newtown amc / matt moore, Matt Moore AMC, Maverick amc / matt moore, Nationwide amc / matt moore,

Modular, manufactured and site-built homes

Modular and manufactured homes – technically defined, they are different. So are site-built homes. This difference is an important factor that affects the value of a home – both its price and resale price. So in case you are planning to buy a house or build one, it would be worthwhile to know the difference. There are different restrictions set on building these kinds of homes. If you are planning to acquire a house, a professional appraiser or a good appraisal company may be able to give you relevant advice on the value of the house. If you are planning to sell a house, an appraisal would still help you sell it for a good price. In the event of purchasing a new property, it is essential that you buy a house with good resale value. This will ensure good returns on your investment at a future time.

Modular homes, oftentimes confused with manufactured homes, have the following characteristics.

• They comply with all building codes specific to the state, region or locality where the house is or would be located.
• They are built in sections at a factory, transported to the site where they are put together by contractors.
• The houses undergo inspection by local building inspectors who make sure they are built to requirements and appropriately. A good modular home would be as good as a site-built home both in durability and as an investment.
• In comparison to site-built homes, modular homes can be less expensive though this depends entirely on the plan and structure of the house.

Manufactured homes are similar to modular homes in construction though not in utility.

• They need to comply with the Federal building code or the HUD code and not just the local building codes.
• Manufactured homes are also known as mobile homes or trailers. However, the term ‘mobile homes’ are referred to those homes built before the 1976 HUD Code.
• Manufactured homes are prefabricated on non-removable steel chassis, sections are transported on their own wheels and assembled at their destination.
• They undergo inspection by local building inspectors.
• As they do not stand on a permanent foundation, refinancing is difficult and complicated. They depreciate in value.
• They are less expensive than modular and site-built homes.

Site-built homes are traditional homes and have the following characteristics.

• They comply with all state and local building codes.
• They are constructed at the building site.
• They generally appreciate in value with only factors such as location, utility, quality, type and size of construction affecting their value.

Housing developments allow site-built homes though they stipulate certain minimum requirements. Some housing developments allow modular homes while some don’t. So it is absolutely essential that deed restrictions are investigated and interpreted thoroughly not just before the planning stage of the structure but before buying the land where the house would be located.

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Matt Moore Appraiser,  Maverick amc / matt moore, Nationwide amc / matt moore, Newtown amc / matt moore, Matt Moore AMC

Condominiums versus townhomes

Condominiums and townhomes – the general public seem to be always confused as to what the terms mean and how they are different if they are different at all. Well, in technical terms, they are different, though the building structures sometimes appear more or less similar.

Condominiums and townhomes are individually owned houses attached to one another.

Townhomes are attached in a row, and together they form one whole building complex. In a condominium, houses may be adjacent or stacked upon one another. The houses may be single story, or 2 or 3 story units or they can be units in a high-rise building. There is also a type of condo more recently developed where houses are built in a cluster as detached or freestanding houses.

A townhome owner owns the house and the land. He or she also owns the garage, the yard and the roof of the dwelling unit. But a condo owner does not own the land on which his or her home stands. They only own the dwelling unit, that is, the inside of the dwelling unit in structures where the houses are attached. All the common areas including the yard, stairs, walkways, amenities, etc. are owned, shared and maintained by all the owners of the condominium.

Both condos and townhomes have homeowners’ associations which take care of the maintenance of the common areas and the amenities and structures within the common areas. For this, each owner or resident pays a fee to the association usually on a monthly basis.

As the owners of both condos and townhomes own the space inside their respective dwelling units, they can do maintenance and improvements within that space as and when they wish. Walls inside the living space can be painted as, when and how they wish. However, it should be noted that they do not own the walls of their homes, so the owners have the privilege of painting, repairing and improving only in the space within the walls of their homes.

Each association may have its own set of rules and system of functioning. They are generally similar though there are slight variations among associations. Residents or owners will have to follow the guidelines set by their associations as regards ownership and sharing of costs and responsibility of maintenance of common areas and amenities. All of these factors are closely scrutinized by the appraisal company while valuing a condo or a townhouse.  

 

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Matt Moore Appraiser,  Maverick amc / matt moore, Nationwide amc / matt moore, Newtown amc / matt moore  

 

Types of residential property

Liberty One AMC is a national appraisal management company, which under the helmsman ship of Matt Moore, the CEO and President of the company, provides appraisals of all types of real estate, both residential and commercial.

There are different types of residential properties. Mainly they are categorized as single family housing and multi-family housing. The difference is that in the former a property is not attached to another, while in the latter a property may be a part of a complex, small or big.

Single family homes are buildings that stand individually, not attached to another, typically with a courtyard surrounding it. Single family homes can also be part of condominiums, in which case the land is co-owned by the owners of the rest of the residences in the condominium. Patio homes, courtyard homes, villas, cottages, cabins, etc. fall under the category of single family housing.

Multi-family housing refers to those homes that do not stand alone but form complexes that can be of different configurations. Duplexes, triplexes, quadraplexes, large high-rise complexes with plenty of apartments            or flats, etc. are examples of multi-family housing.

Around the world, the single family homes are known by different names. A ‘single family home,’ as it is referred to in the U. S., may be referred to as a ‘detached house’ in the U. K., a ‘single detached dwelling’ in Canada, and a ‘separate house’ in New Zealand. These are just a few variants of the same term which has several other versions to it too.

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Matt Moore Appraiser,  Maverick amc / matt moore, Nationwide amc / matt moore, Newtown amc / matt moore  

What an appraiser can look forward to at Liberty One AMC

Liberty One has a very clear, transparent and professional system of doing their business. From the time an appraisal order is placed by a client until the completion and delivery of the appraisal report, the process is set. The appraisers are personally screened by Matt Moore, the President of the company. Once selected, the appraiser can look forward to building an excellent career with this national real estate appraisal management company. The Liberty One system has a lot of built-in validation measures which ensure that the appraiser provides quality service to the client.

 

The company has a 24-hour online system for receiving orders. Once an order is booked, whether online or otherwise, a liaison is assigned to the client at the earliest.  The liaison keeps the client connected to the appraiser, and constantly informed about the progress of the work.

Compliance with all regulations pertaining to the state and the locality that the property is located in is assured by the company. So it is the duty of the appraiser to be always updated on all regulations and guidelines. However, the appraiser gets full and consistent support by the company throughout the process of an appraisal on all matters and issues related to the order.

The appraiser’s report is thoroughly reviewed by an experienced professional appraiser of the company or by a leading nationally accredited appraiser prior to submission. This assures the quality of the report submitted. The appraiser is expected to incorporate all revisions as requested by the client, and the reports are to be delivered on the same day.

An appraiser, over and above, does not have to bear any fees or costs while working with Liberty One AMC. 


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Matt Moore Appraiser, Nationwide amc / matt moore, Maverick amc / matt moore, Newtown amc / matt moore 

Six important things to consider while purchasing commercial real estate

Location is the main factor that decides the value of a property, whether commercial or residential. There are a few other major factors too that raise or lower the value of a property. These factors should be given a close scrutiny before finalising the purchase of commercial real estate. One cannot afford to realise too late in the day that taking the property on lease would have been more sensible than purchasing it, especially when resale could turn out to be difficult for the same reasons. The following is a basic list that one may check out before purchasing any commercial real estate.

• Location: The location of the property is important not only as regards whether it is in a prime area, but whether it is conveniently accessible also to customers, clients and other associated people who are likely to frequent the place.
• Parking space: Does the property have enough parking area for the number of vehicles that are expected to need parking facility generally on an average.
• Physical state of the property: One has to find out how good or bad exactly is the physical condition of the property and whether the price quoted would be justifiable. One also has to make sure that the unavoidable repairs and expected renovations are possible on the property both in terms of practicality and legality.
• Utility of space: Consider the space available and whether it would suit the nature of one’s business. One also has to make sure that a reasonable amount of changes would make it suitable for one’s business. The amount of time and money that would be invested in making the changes should also be taken into account while inspecting the space.
• Potential for expansion: If the business has immediate scope for expansion, the property should also have the same to accommodate the changes that accompany the expansion.

Lease value of the property: Last but not at all the least, consider the net lease value of the property. This is relevant in the event of one’s deciding not to expand the business for the time being, in which case the extra space may be leased out. Having an insight into the current and future lease values will also be helpful in determining what would make more sense – to take the property on lease or to buy it.


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Matt Moore Appraiser, Newtown amc / matt moore, Maverick amc / matt moore, Nationwide amc / matt moore

Home appraisals versus house inspections

An appraisal of a home actually involves determining the market value of the home. The market value of a home is arrived at by finding out the price at which similar homes are being sold in the same locality, with specific focus on similar houses that have been sold in the same area most recently. The amenities and other value additions done on the house will be taken into consideration during the appraisal of a home. It is the appraisal that helps the lender determine the value of the house, and depending on this value, he finalizes the amount that should be loaned to the buyer for the purchase of the property.

A house inspection is done generally for the structural issues of a house. Some common factors that a house is specifically inspected for are its roofing and its plumbing and electrical systems including its septic system. Pest control measures taken on a property adds to the value of the house.

While a low appraisal is favorable for the buyer, the seller always hopes to get the highest possible appraisal on his property. A good appraiser does maximum justice to the buyer, seller, lender and the property itself that is undergoing appraisal. At Liberty One AMC, we employ highly skilled and professional appraisers who are impartial and dispassionate in their appraisals. This, in turn, has resulted in gaining us a vast portfolio of long-term, happy clients in the residential real estate appraisal industry.

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Matt Moore Appraiser, Nationwide amc / matt moore, Maverick amc / matt moore, Newtown amc / matt moore 

Personalized Service at Liberty One

Next to effective communication with appraisers and clients, personalized service is the key factor that attributes to the success of Liberty One AMC. Being a national appraisal management company, Liberty One has a range of clients and a network of appraisers spread across the country. Liberty One AMC attends personally to answer the unique needs of every customer and to support the work of every appraiser.

As soon as an order is placed, a liaison is assigned to the client, who monitors the process of appraisal right from the stage of inspection to that of completion and submission of the report to the client. The company caters to the unique needs of every customer and we are able to develop unique deliverables. Requests for revisions of appraisal reports are accepted. After making the requested revision, a report is still submitted on the same day, thus ensuring the timeliness of delivery.

Liberty One keeps in touch with the appraisers throughout the process of the appraisal. Any problems that the appraiser may face will be dealt with immediately and all issues resolved. Appraisers get the support of the management from the time of placement of the order to the creation of the report. This ensures smooth completion of the order.

The appraisers are reviewed by top-quality nationally accredited appraisers, and feedbacks given to each of them. This ensures the quality of the report submitted. Constant feedbacks to the appraisers help raise the standards of the company’s professionalism and performance to higher levels. The appraisers’ workload is also constantly monitored by the company so as to ensure that it is manageable and they are able to give prompt attention to every order.

Taking a personalized approach to serving the customers as well as to communicating with the appraisers, we keep both our customers and appraisers happy.

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www.liberty1amc.com
Matt Moore Appraiser, Nationwide amc / matt moore, Maverick amc / matt moore, Newtown amc / matt moore 

Liberty One AMC, LLC – a full-service real estate appraisal firm

For the past 20 years, Liberty One, by rendering its services in all the 50 states, has been successfully striving to provide relevant solutions to the appraisal demands of the real estate industry of the country. Well supported by a network of fully accredited and competent appraisers and well equipped with the latest technology systems steered by a highly professional team, Liberty One has been most efficiently catering to the country’s real estate valuation needs for the past two decades.

We offer real estate appraisals for both commercial and residential properties across the country. Our appraisers are thoroughly familiar with the regulations of the various states and the specific localities they undertake their orders in. Compliance with the all the regulations, including HVCC, RESPA, FHA, HUD, The Consumer Protection Act and others is absolutely guaranteed.

Our advanced system helps the clients place their orders and our professionals manage them in a very simple and effective manner. Being integrated with RealEC, Encompass, Calyx Point and several other platforms, the system can be very easily applied to any delivery platform thus meeting the needs of our various clients.

The services of Liberty One are flexible to suit the individual requirements of the clients. We tailor the reports so the clients can present them in their preferred order and fashion. We offer around 200 parameters (such as foreclosure, forecast, lien, etc.) for the client to choose from, which also makes customization easier while completing and delivering an order. Reports are modified and revised as per the clients’ specifications and still submitted within the prescribed time.

In short, we at Liberty One, make sure that we add maximum value to our clients’ business.




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Matt Moore Appraiser, Nationwide amc / matt moore, Maverick amc / matt moore, Newtown amc / matt moore 

Liberty One process in a nutshell

Liberty One has taken every effort to make the process very simple for the clients and appraisers as well as the management and technical team. From the point of ordering to inspection to appraisal to creating reports to revision to submission, we have taken care to simplify every step of the process. Here’s an overview of our process flow.

1.    Order your process anytime online. Our team is available online 24/7. The system is absolutely user-friendly and totally uncomplicated.

2.    A personal administrative liaison is assigned to you as soon as you place the order.

3.    You can create your own appraisal roster.

4.    The appraiser contacts the property owner and schedules an inspection as soon as he receives the order.

5.    We contact the borrower and the appraiser to coordinate a schedule that’s viable for the borrower.

6.    The appraiser completes the necessary research and verification and writes a report as soon as the property is inspected. Compliance with all regulations is assured.

7.    Report is submitted between 24-48 hours after the inspection. Total turn time is 6-7 days from the date of receiving the order.

8.    If the client requests a revision, this is done and the report is submitted on the same day.

9.    If there is an issue of complex or rural properties or any other, the client is informed immediately and updated daily until the reports are completed.

10.    Our sophisticated ordering and management system is integrated with RealEC, Encompass, Calyx Point, and several others, and can be easily applied to any delivery platform.

Throughout the process, the workload of the appraiser and the flow of the process are closely monitored so as to ensure that the work flow is smooth and the appraisal gets prompt attention. What’s more, we are constantly trying to improve and evolve in order to give more value for your money in less time with increased efficiency.

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Matt Moore Appraiser, Nationwide amc / matt moore, Maverick amc / matt moore, Newtown amc / matt moore

Matt Moore, the driving force that steers Liberty One AMC

A graduate from Boston College and a graduate of law school, Matt Moore a.k.a. Matthew J. Moore, has enjoyed a long career as a successful real estate appraiser since 1993 to date.

His extensive experience in the industry, dedication to his profession, and commitment to his clients and the society has led the company to emerge as one of the major players in the real estate appraisal industry. If it were not for his focus and determination, the company wouldn’t have crossed the various hurdles in its journey towards success to become one of the most sought after appraisal companies in the country.

The various roles he has played in his spectacular career as Partner of Eastcom Val from 2001 to 2005, Partner of PVN Valuation from 2005 to 2008 and several others have been instrumental in his being able to instill high standards of professionalism in the company’s workforce and a culture of accountability and quality in their performances.

Being an accomplished real estate appraiser himself, Matt Moore, is able to lead and guide the network of appraisers who work for the company to ensure quality and accuracy as well as timely delivery to the company’s clients across the country. He personally ensures that the company selects highly skilled appraisers who are familiar with the regulations specific to the states and the requirements specific to the localities they work in.

With close scrutiny and review of work outcomes, Moore ensures that a culture of improvement filters down from the top management levels to the lowest ranks of the company’s hierarchy. All of this leads to the fact that Liberty One AMC enjoys a longstanding and reputed clientele along with a network of loyal appraisers across the country.

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Matt Moore Appraiser, Nationwide AMC / Matt Moore, Maverick AMC / Matt Moore

An AMC with nationwide presence and local expertise

Liberty One, like most other appraisal management companies, has coverage in all the 50 states, with qualified appraisers to cater to our clients’ business needs that spread across the country. With qualified appraisers who are familiar with the rules and regulations pertaining to every state, we are able to ensure compliance and quality in our services.

However, unlike most of the other real-estate appraisal firms, with our nationwide appraiser network our reach extends to communities, both large and small, which helps us provide a total solution package to our clients. Our clients can entrust us with all their property valuation and consultancy needs without having to approach different appraisers for various valuation requirements. On receiving an order, our company is able to start the work process immediately by handing over the assignment to a local, qualified appraiser without any delay whatsoever. The local appraiser is able to contact all concerned to schedule an inspection at the earliest.

Our nationwide coverage is beneficial to reputed clients with large requirements as well as smaller companies who have recently jumped into the fray. We are able to provide a wide range of valuation services for both commercial and residential properties across the country. While the larger clients can consider us as a one-stop shop for all their appraisal needs, the smaller companies can start, evolve and grow with us. Liberty One can provide clients with services that can be easily customized and adjusted to the clients’ varied and growing requirements. Liberty One can play an important role in the growth and expansion of its client companies. In fact, we at Liberty One measure our own success with the success of our clients.

Providing the right service at the right time to the highest standards is a commitment we make to both the client and ourselves every time we receive an order.

Nationwide amc / matt moore :

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