Nys Appraisal Chptr 5 Data Collection And Analysis

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DATA COLLECTION =

Back 1

THE THIRD STEP IN THE APPRAISAL PROCESS

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GENERAL DATA

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PERTAINING TO REAL ESTATE IN GENERAL - NATL, REGIONAL OR LOCAL

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SPECIFIC DATA

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PERTAINS TO THE SPECIFIC PROPERTY

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TREND DATA

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BROAD MARKET

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SUPPLY & DEMAND DATA

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MORE LOCALIZED

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PRIMARY DATA

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GENERATED BY THE APPRAISER

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SECONDARY DATA

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PUBLISHED SOURCES

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MARKET TREND DATA AND GENERAL DATA - BOTH REFER TO

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THE SAME THING,HOW SOCIAL AND ECONOMIC FORCES EFFECT VALUE.

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COMPETITIVE SUPPLY AND DEMAND DATA

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MORE TIED TO LOCAL MARKETS

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SUPPLY DATA

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# OF EXISTING AND PROPOSED PROPERTIES

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DEMAND DATA

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ITEM SUCH AS WAGE AND EMPLOYMENT LEVELS, WHICH DRIVE DEMAND IN A LOCAL MARKET

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SUBJECT PROPERTY DATA

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PERTAINS TO THE SUBJECT PROPERTY

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COMPARABLE DATA

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MUST HAVE
-SIMILAR PHYSICAL CHARACTORISTICS
-BE COMPETITIVE WITH THE SUBJECT PROP
-BE LOCATED IN THE SAME MARKET AREA
-HAVE SOLD IN A LIMITED TIME OF THE VALUATION DATE

USE COMPARABLE PROP DATA IN ALL THREE APPROACHES

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REGIONAL & COMMUNITY DATA

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REFLECT THE LOCAL PEGS (PHYSICAL, ECONOMIC, GOVTL & SOCIAL)ON VALUE

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REGIONAL & COMMUNITY VALUE INDICATION

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ALL DATA IS COLLECTED FOR ONE PURPOSE TO HELP FORM A VALUE ESTIMATE

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NATURAL ENVIRONMENTAL FACTORS (PHYSICAL FEATURES)

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CLIMATE, TOPOGRAPHY, POTENTIAL HAZARDS (IE EARTHQUAKES, FLOODS,

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ECONOMIC CHARACTORISTICS

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SEE NEXT CARDS

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ECONOMIC BASE

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THE ECONOMIC ACTIVITIES THAT SUPPORT THE PEOPLE LIVING IN THE AREA.

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INFRASTRUCTURE

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REFERS TO PUBLIC IMPROVEMENTS THAT SUPPORT BASIC NEEDS (TRANSPORTATION, UTILITIES, HIGHWAYS, POWER AND WATER SUPPLY).

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SOCIAL ATTITUDES

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DATA SUCH AS AGE, INCOME LEVEL OR HOUSEHOLD WAY.

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NEIGHBORHOOD DATA

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GEOGRAPHICAL AREA IN WHICH LAND USES ARE COMPLIMENTARY AND ALL PROPERTIES ARE INFLUENCED IN A SIMILAR WAY

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DISTRICT

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WHEN A NEIGHBORHOOD ONLY HAS ONE LAND USE.

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NH BOUND ARE OFTEN BUT NOT ALWAYS

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SAME TYPE OF PHYSICAL FEATURE

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PREDOMINANT OCCUPANCY

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PRED OWNER OCCUPANCY MAKES FOR A MORE STABLE MARKET

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VACANCY FACTORS SHOULD BE UNDER

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5%

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RACE AND RACIAL COMPOSITION

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ARE NOT TO BE USED BY AN APPRAISER

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NH DATA INCLUSED

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GROWTH RATES, ZONING REGS, PROP TAX, INTERVIEWS WITH BROKERS, HOMEOWNERS

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SITE DATA

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SPECIFIC DATA REGARDING THE SUBJECT PROPERTY SITE

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SITE

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LAND THAT HAS BEEN PREPARED FOR USE

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REASONS WHY SITE IS VALUED SEPERATELY

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1) HIGHEST & BEST USE
2) PROVIDE DATA FOR CERTAIN VALUE TECHNIQUES (COST APP)
3) SOMETIMES REQUIRED OF THE ASSIGNMENTS (TAX ASSESS)

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WIDTH

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THE DIMENSION OF THE SITE MEASURED PARELLEL TO THE STREET

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DEPTH

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THE OPPOSITE DIMENSION, PERPENDICULAR TO THE STREET

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FRONTAGE

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THE LENGTH OF THE PROP BOUNDARY WHERE IT ADJOINS THE STREET

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GEN BUILDING DATA

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GEN DESCRIPTION, SIZE, STORIES

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SUB-STRUCTURE DATA

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INFO ABOUT PARTS OF THE BUILDING THAT ARE BELOW

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SPECIAL FEATURE DATA

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INCLUDES ANY ITEMS THAT MAY EFFECT VALUE
(CAR STORAGE, PORCHES, PATIOS)

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SPECIFIC MARKET DATA

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CATEGORY OF DATA COLLECTED BY APPRAISER. IT IS DATA THAT RELATED TO THE COMPARABLE.
ONE OF THE KEY PIECES OF DATA FOR THE SALES COMP APPROACH IS THE SALES PRICE OF THE COMP.
DATE OF SALE - VALUES CHANGE OVER TIME.

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COST DATA

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2ND TYPE OF SPECIFIC MARKET DATA, IS USED IN THE COST APPROACH USED TO DETERMINE REPROPDUCTION OR REPLACEMENT.