Richmond real estate appraisers -A short clip

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Welcome to Macintosh Appraisals
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Goal Of Macintosh
The Goal at Macintosh is to provide appraisal
services efficiently and cost-effectively.
Superior personnel,Resources,technology,and
experience combine to produce the best and most
widely accepted reports in the business.
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What is appraisal?

• Simply put, appraisal is the act or process of
  estimating value.
• More precisely
• The term appraisal means a written statement
  independently and impartially prepared by a
  qualified appraiser setting forth an opinion of
  defined value of adequately described property as
  of a specific date, supported by the presentation
  and analysis of relevant market information

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What is value?

• Value is the worth of an item.
• Human behavior determines value because no item
  has inherent value.
• Value in exchange is the quantity of one thing
  that can be obtained in exchange for another
  good. This relationship is determined by the
  market.
• Value is subjective due to personal preferences,
  but market value is objective due to market
  behavior.

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Market Value

• "The most probably selling price in terms of
  money which a property should bring in a
  competitive and open market under all conditions
  requisite to a fair sale, the buy and seller each
  acting prudently and knowledgeably, and assuming
  the price is not affected by undue stimulus.
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Market Price

• The amount actually paid, or to be paid, for a
  property in a particular transaction, which
  differs from market value in that it is an
  accomplished or historic fact, whereas market
  value is and remains an estimate
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Market Value vs. Market Price(the skinny)

• Value and price are identical in a theoretical,
  perfectly competitive market.
• We live in a real world! Market value is the
  most probably selling price under typical
  market conditions.
• Price is an agreed upon amount or a historical
  figure.

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Fundament Theory of Appraisal

• Supply and demand
• Anticipation/Change
• Competition reduces economic rents
• Substitution
• Opportunity cost
• Contribution
• Externalities/linkages

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Types of Appraisals

• Airport Facilities
• Apartments
• Acreages
• Casinos
• Churches
• Commercial Strata Units
• Commercial Subdivisions
• Convenience Stores
• Construction Projects

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Contd.

• Co-ops
• Duplexes
• Equestrian Centers
• Farmland
• Hotels
• Houses
• Medical offices
• Mortals
• Restaurants

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Conclusion

• A real estate appraisal is a professional opinion
  of value as of a particular date based on
  systematic analysis and market data.

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• THANK YOU ?