10 Things to Know About Commercial Real Estate Appraisal
BY Darren Dahl
A commercial real estate appraisal can be complicated–from knowing what to ask for as well as what to provide to the appraiser–here’s what you need to know.
Small business owners have a lot to digest when it comes to the subject of commercial real estate—especially these days. That goes double for the notion of obtaining an appraisal on a piece of commercial real estate, a process that can differ quite a bit from appraisals done for residential properties. “Commercial is very different from residential in the fact that appraisals are much more subjective in nature,” says Scott Everett, founder and president of Supreme Lending, a mortgage lender in Dallas. “Much of the value derived from a commercial building is based on the rental rates received relative to the expenses paid out. The underlying asset is important, but not even close to the same way that a residential properties value assets.”
In other words, if you’re looking to get an appraisal done on a piece of commercial property—perhaps because you want to buy or sell it or even because you want to establish a value of a lease or lodge a property tax appeal—there could be a bit of a learning curve in knowing what you’re about to embark on. Inc. contributor Darren Dahl asked Douglas McKnight, a 22-year veteran commercial real estate appraiser and managing director at CapStruc Valuation in Malvern, Pennsylvania, for some insight into his profession. What follows is a list of the top 10 things McKnight says you need to know about commercial real estate appraisals:
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We care about giving back to our local community
/in Charity, Company News /by Mary HelbickWe care about giving back to our local community
At L & A Appraisal, we are very active with many local charities.
L&A cares about our local community. That is why this year we decided to take part in a Holiday Toy Drive organized by the House of Peace Milwaukee. Among other things, the House of Peace organization provides Christmas gifts each year for over 2,500 local kids so we collected toys throughout the month of December from our many generous team members. Are you interested in participating next year? Here are 4 Ways that you can Give Back to Your Community.
Congratulations to Robert Quam, Jr., now a Designated Member of the Appraisal Institute (MAI)
/in Appraisals, Company News, Illinois, MAI, Wisconsin /by Mary HelbickCongratulations goes out to Robert Quam, Jr. who became a Designated Member of the Appraisal Institute (MAI).
Robert Quam, Jr. earns his MAI designation. MAI is a professional designation held by appraisers who are experienced in the valuation and evaluation of commercial, industrial, residential and other types of properties. Professionals with this designation are experts and advise clients on real estate investment decisions. Recognized by courts of law, government agencies, financial institutions and investors as a mark of excellence in the field of real estate valuation and analysis, these designations are earned, not just handed out. Robert has been working as a General Certified Appraiser in Wisconsin and Illinois. He has been specializing in manufacturing and industrial-type properties. Way to go Robert!
Now Offering Restricted Appraisal Reports!
/in Appraisals, Company News, Restricted Appraisals /by Mary HelbickNow Offering Restricted Appraisal Reports!
If you need an appraisal on your property, a restricted appraisal report may work for you.
Typically a lender is able to order a restricted appraisal report when there is no new money involved, e.g. Mongolia refinancing your loan.
Excerpt from: FedLinks™ Article
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10 Things to Know About Commercial Real Estate Appraisal
/in Appraisals, Real Estate /by Mary Helbick10 Things to Know About Commercial Real Estate Appraisal
BY Darren Dahl
A commercial real estate appraisal can be complicated–from knowing what to ask for as well as what to provide to the appraiser–here’s what you need to know.
Small business owners have a lot to digest when it comes to the subject of commercial real estate—especially these days. That goes double for the notion of obtaining an appraisal on a piece of commercial real estate, a process that can differ quite a bit from appraisals done for residential properties. “Commercial is very different from residential in the fact that appraisals are much more subjective in nature,” says Scott Everett, founder and president of Supreme Lending, a mortgage lender in Dallas. “Much of the value derived from a commercial building is based on the rental rates received relative to the expenses paid out. The underlying asset is important, but not even close to the same way that a residential properties value assets.”
In other words, if you’re looking to get an appraisal done on a piece of commercial property—perhaps because you want to buy or sell it or even because you want to establish a value of a lease or lodge a property tax appeal—there could be a bit of a learning curve in knowing what you’re about to embark on. Inc. contributor Darren Dahl asked Douglas McKnight, a 22-year veteran commercial real estate appraiser and managing director at CapStruc Valuation in Malvern, Pennsylvania, for some insight into his profession. What follows is a list of the top 10 things McKnight says you need to know about commercial real estate appraisals:
Read more
Congratulations to Seth Eatman, now a Certified General Appraiser in Wisconsin
/in Appraisals, Commercial Appraiser, Company News, Milwaukee /by Mary HelbickSeth Eatman now a Certified General Appraiser in Wisconsin.
Seth Eatman worked as an Appraisal Technician since he joined our firm in 2011 but knew he wanted to be a certified general appraiser. Through hard work and dedication, he’s finally official as of August 2014. In the state of Wisconsin, it is required to complete 3,000 hours in 30 months to earn licensure. Lauenstein & Associates is excited that Seth Eatman can add his expertise to the service offerings of the firm. We’re proud and happy for you because you earned it. Way to go Seth!
For all the latest information from L & A Appraisal, check out our news section.
Have you heard of the American Society of Appraisers?
/in Appraisals, Company News /by Mary HelbickHave you heard of the American Society of Appraisers?
They are a multi-discipline, non-profit, international organization of professional appraisers representing all appraisal disciplines.
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Steve Lauenstein, featured speaker at Appraisal Institute Symposium
/in Commercial Appraiser, Illinois, Michigan, Milwaukee, Minnesota /by Mary HelbickSteve Lauenstein was a featured speaker at Appraisal Institute Symposium
Steve Lauenstein spoke on the state of the multi-family and condo market at the Appraisal Institute’s Year in Review Symposium in November of 2012, 2010, 2009 and 2008.