Friday, July 20, 2012

Local Property Appraisal Participation Assignment


Part 1: Research Local Property Appraisal Services
1. Conduct a web search to locate a property appraiser's office in your area.
- Does your property appraiser offer a web mapping site?
* No, the property appraiser does not offer a web mapping site.  In fact, every appraiser site I looked at in the Tri-State (Delmarva) area is very basic, they do not offer web mapping or selling prices or recent properties assessed.
* The website I chose is: http://fielsappraising.com/services.html
* They do not state how you obtain your data either.

2. Most property appraiser's websites offer a list of recent property sales by month.
- What is the selling price of this property?
*As I said above, none of the sites list selling price of any properties.

3. The selling price and assessed price will differ in most cases. 
- What is the assessed land value?
* total value is $20,000 with improvements
- Based on the land record data, is the assessed land value higher or lower than the last sale price?
* higher



Q4. Share additional information about this piece of land that you find interesting.  Many times, a link to the deed will be available providing more insight to the sale.
* There is no link to the deed.  However, this house is on a finger of a river, is highly elevated for this area and is an old property with only 3 owners.

Part II: Mappingn Assessment Values

Q1. Which accounts do you think need review based on land value and what you've learned about assessment?
* Looking at the map, other than the 4 corner pieces which are not developable, there are 6 properties that are of much lesser value than the surrounding properties.  They are: 090310105, 09031071, 090310320, 090310325, 090310260, 090310245.

1 comment:

  1. Real estate appraisal, property valuation or land valuation is the process of valuing real property. The value usually sought is the property's Market Value. Appraisals are needed because compared to, say, corporate stock, real estate transactions occur very infrequently. Not only that, but every property is different from the next, a factor that doesn't affect assets like corporate stock. Furthermore, all properties differ from each other in their location - which is an important factor in their value.Certified Appraiser

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