Appraisal Review Services
Appraisal review has two purposes:
To evaluate the report for conformity with the professional standards, such as the Uniform Standards of Professional Appraisal Practice (USPAP), Uniform Appraisal Standards for Federal Land Acquisition (Yellow Book), or any other applicable standard; and
To evaluate the general accuracy, reliability, and appropriateness of the information and valuation methods used, and conclusions reached.
Clarion/Samuels provides a full range of appraisal review services for lenders, investors, developers and lawyers. Clarion/Samuels can translate "appraisal speak" into "plain english" and either support for the presented conclusions or find errors imbedded in that language.
As an example, CSA staff reviewed, found errors in an appraisal report, and testified in a tax appeal case that caused a $30 million swing in the judge's conclusion of market value.
Clarion/Samuels has studied development impacts on residential and commercial property value. Aside from typical development proposals (residential subdivision, commercial and industrial development) Clarion/Samuels has done studies of the impact of cellular phone towers, contaminated property, wind farms, wastewater treatment facilities, natural gas pipeline compressor and dehydration stations, and other externalities on residential and commercial property value.
While each study is unique, a typical pattern of analysis includes:
A review of potential impact generation, noise, light, vibration, view, automobile, truck and train traffic, etc.;
An analysis of the the environment within which the potential source of the impact is to be located. The relationship between the source and the properties that may be impacted is critical;
A review of national impact literature;
Case studies that replicate both or either of the potential source of the impact and the potentially impacted properties put the types and extent of the potential impact into context; and
Where possible, hedonic and other methods are utilized to confirm, deny or enhance the application of the literature review and case studies.
Market and Merchandising Studies for Developers
CSA has conducted these types of studies for developers and investment fund managers who are seeking equity investment in residential development. Through market studies we help determine product mix, pricing and absorption potential. The merchandising studies help developers fine tune product design, increase market capture, and maximize return on investment.
Clarion personnel have taught marina valuation and appraised marinas in such far-flung locations as Long Island Sound, Kentucky and Lake Powell, Utah.