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In Part 1, we explored the oxymoron created when trying to determine market value when you have listings of very comparable properties being sold for liquidation prices. Now let’s go over a couple more quandaries that make appraising so difficult in a down market. The Verification Conflict There is a big problem out there with verification. What do . . . → Read More: The Down Market Appraisal Quandary – Part 2 of 2 When the economy is in a recession, the number of commercial property sales dwindles to a handful. Appraisers have to expand the radius they would normally search in an average or strong economy. No matter how many sales are put together, there are two huge problems facing the industry in a down market that directly affects . . . → Read More: The Down Market Appraisal Quandary – Part 1 of 2 According to the U.S. Census Bureau, in 1999 there were 8,200 U.S. marinas. The National Marine Manufacturers Association (NMMA) estimated that in 2002 there were 12,000 marinas, boatyards, yacht clubs, dockominiums, parks, and related facilities (note that this higher number includes properties that are technically not marinas, although they are maritime related). No new studies appear . . . → Read More: Marina Listings on the Rise |
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