Lecture 6 Chapter 10

1
Lecture 6/ Chapter 10

• Improvement Analysis

2
Improvement Analysis

• 1. Property Inspection
• 2. Building Description
• 3. Analysis of Architectural Style and
  Functional Utility
• 4. Quality and Condition Survey

3
Property Inspection

• Act or process of inspecting firsthand the
  typical improvements and building components of
  the properties involved in an appraisal
  assignment, either the Subject Property or
  comparable properties.

4
Building Description

• The analysis of a buildings design, layout,
  construction details, size, condition, current
  use, and alternative uses that provides the basis
  for comparing the Subjects improvements and the
  improvements typically accepted in the Subject
  Propertys market.

5
Initial Elements of a Building Description

• Use Classification
• Residential, Commercial, Industrial, etc.
• Building Codes
• Size
• Gross Living Area, Gross Building Area, Gross
  Leasible Area

6
Building Description Exterior

• Substructure
• Foundational structure, including footings,
  slabs, piles, columns, piers, beams, etc.
• Above-Grade Parking Structures
• Superstructure
• Above-Grade features

7
Building Description Superstructure

• Framing
• Insulation
• Ventilation
• Exterior Doors and Walls
• Windows
• Façade
• Roof and Drainage Syetems
• Chimneys, Stacks, Vents
• Special Features

8
Building Description Interior

• Interior Walls
• Interior Supports (beams, columns, trusses
  floors ceilings)
• Stairs, Ramps, Elevators, etc.
• Painting, decorating, finishes
• Protection against wood fungi and pest damage
• Special Features

9
Building Description Equipment and Mechanical

• Plumbing (piping, fixtures, hot water system)
• Heating System
• Electrical System

10
Architectural Style andFunctional Utility

• Elements of Good Design
• Functions Well
• Compatibility, comfort, efficiency, safety,
  security, accessibility, ease/cost of
  maintenance, market standards, attractiveness,
  economic productivity
• Looks Good
• Feels Good
• Balance
• Affordable

11
Quality and Condition Survey

• Immediate Repairs (Deferred Maintenance)
• Short-Lived Items
• Long-Lived Items