In Israel, the real estate appraisal profession is regulated by the Council of Land Valuers, an organ of the Ministry of Justice; the largest professional organization, encompassing the majority of appraisers/land valuers is the Association of Land Valuers. Valuers must be registered with the Council, which is a statutory body set up by law, and which oversees the training and administers the national professional exams that are a prerequisite for attaining registration. In 2005 the Council set up a Valuation Standards Committee with the purpose of developing and promulgating standards that would reflect best practice; these have tended to follow a rules-based approach.
The cost approach was once called the summation approach. The theory is that the value of a property can be estimated by summing the land value and the depreciated value of any improvements. The value of the improvements is often referred to by the abbreviation RCNLD (for "reproduction/replacement cost new less depreciation"). Reproduction refers to reproducing an exact replica; replacement cost refers to the cost of building a house or other improvement which has the same utility, but using modern design, workmanship and materials. In practice, appraisers almost always use replacement cost and then deduct a factor for any functional dis-utility associated with the age of the subject property. An exception to the general rule of using the replacement cost is for some insurance value appraisals. In those cases, reproduction of the exact asset after a destructive event like a fire is the goal.
Appraisal practice in the United States is regulated by state. The Appraisal Foundation (TAF) is the primary standards body; its Appraisal Standards Board (ASB) promulgates and updates best practices as codified in the Uniform Standards of Professional Appraisal Practice (USPAP), while its Appraisal Qualifications Board (AQB) promulgates minimum standards for appraiser certification and licensing.
The scope of work is the first step in any appraisal process. Without a strictly defined scope of work, an appraisal's conclusions may not be viable. By defining the scope of work, an appraiser can properly develop a value for a given property for the intended user, and for the intended use of the appraisal. The whole idea of "scope of work" is to provide clear expectations and guidelines for all parties as to what the appraisal report does, and does not, cover; and how much work has gone into it.

In order to account for the usage of the land, the net operating income is reduced by the Liegenschaftszins (interest paid to the land-owner by the owner of the building, i.e., ground rent). The Liegenschaftszins is the product of the land value and the Liegenschaftszinssatz (interest rate for land use). The Liegenschaftszinssatz is the equivalent of the yield—with some important differences—and is also determined by the Gutachterausschuss.
A home appraisal is an unbiased estimate of the true (or fair market) value of what a home is worth. All lenders order an appraisal during the mortgage loan process so that there is an objective way to assess the home’s market value and ensure that the amount of money requested by the borrower is appropriate. The appraisal can include recent sales information for similar properties, the current condition of the property, and the location of the property, i.e., insight as to how the neighborhood impacts the property’s value.

Two things have been artificially sustaining the market, says Chris McCarty, director of the University of Florida Bureau of Economic and Business Research, the Federal Reserve’s infusion of cash to lift the country out of the last recession and the 2018 tax cut. Both actions put a lot of money back into the economy. The Fed is starting to raise interest rates, he says, and the tax cut boost is temporary.  
The federal government regulates appraisers indirectly because if the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) finds that a particular state's appraiser regulation and certification program is inadequate, then under federal regulations all appraisers in that state would no longer be eligible to conduct appraisals for federally chartered banks.[25] The ASC oversees the TAF. Banks make widespread use of mortgage loans and mortgage-backed securities, and would be unable to do so without appraisals.
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Adjudication of valuer-certified estimates of value in case of the onset of disputes is conducted through the Experts Councils of valuers' SROs. Official courts tend to concur with the resolutions of such Councils. In some rare instances the imprimatur of SRO's Experts Councils is also required for a valuation done by a particular valuer to enter into effect.

In the course of evaluating a property, an appraiser is expected to be alert and take notice of aspects and characteristics of the property, as well as the surrounding area, that could affect the value. This can include assessing the overall noise levels of the area, proximity to sources of recurring loud disturbances such as an airport or a railroad line, as well as the view offered by the property. Obstructions by neighboring buildings, for instance, could reduce the value of a property.
“Mike has the knowledge, skills, and professional background to ensure our appraisers office is run efficiently and with excellence,” Brandes said in an email to Florida Politics.  “Mike’s 25 years as a professional real estate appraiser and 21 years as a principal and vice president managing private appraisal offices have given him the experience to expertly carry out the complex and important duties of the property appraiser’s office.

There can be differences between what the property is really worth (market value) and what it cost to buy it (price). A price paid might not represent that property's market value. Sometimes, special considerations may have been present, such as a special relationship between the buyer and the seller where one party had control or significant influence over the other party. In other cases, the transaction may have been just one of several properties sold or traded between two parties. In such cases, the price paid for any particular piece is not its market "value" (with the idea usually being, though, that all the pieces and prices add up to the market value of all the parts) but rather its market "price".
An appraisal is a licensed appraiser's opinion of a home's market value based on comparable recent sales of homes in the neighborhood. Appraisals are usually ordered on behalf of a buyer's lender to protect the interests of the lender. The lender's underwriter will compare the appraisal price to the final purchase price of the home to ensure the buyer is not borrowing more than the house is worth. If the home appraises lower than the final sale price, the buyer may be able to renegotiate a lower price with the seller. If the seller won't lower the price, the buyer's lender may ask that the buyer put more money toward the down payment in order to make up the difference. Get an instant estimate of your home's value or learn how to increase your home's appraisal value.
Most of valuations in the country tend to be performed for statutory purposes envisaged by the Federal Valuation Law (the latest amendment in 2016) and other related laws, such as the Joint Stock Companies Law. Such pieces of legislation provide for more than 20 so-called "mandatory cases of valuation", including valuations for privatization purposes, lending purposes, bankruptcy and liquidation etc. Valuations for corporate accounts used to be much more prominent before 2000, when the national accounting regulator ceased to incentivize the accounting fair value option. At present, the mass appraisal of property for taxation purposes is also starting to be outsourced by the Government to the institution of professional valuers.
Department is an industry leader in valuation services, counseling and advisory services. As one of the larger appraisal firms in the Tampa Bay Area, we have a depth of appraisal expertise in a wide variety of areas. We have commercial and industrial appraisers fluent in Spanish and Polish. We have extensive experience appraising properties of all sizes from the smallest retail or mixed use properties to large condominium developments or regional shopping centers. We

Most jurisdictions have an appeal process for contesting an assessment. While the specific rules vary from one locality to the next, the process typically involves a hearing before an assessment appeal board. Taxpayers who have concerns about their assessment should visit their local Assessor's Office or its website to learn about the appeal process and what information is required in order to appeal a property tax assessment.
The stakes are always high when investing in real estate be it a single family residence or a specialized commercial property. That is why hiring the right real estate appraiser and analyst is critical. Fogarty & Finch has the expertise to assist you during this very challenging real estate market and the commitment to be there for you in the future.
However, the recent trend of the business tends to be toward the use of a scientific methodology of appraisal which relies on the foundation of quantitative-data,[10] risk, and geographical based approaches.[11][12] Pagourtzi et al. have provided a review on the methods used in the industry by comparison between conventional approaches and advanced ones.[13]
Our experience in the personal property field is second to none. Each appraisal assignment we perform is held to the highest level of scrutiny. We pride ourselves on our honesty, integrity and commitment to service. All of our appraisals are prepared with the knowledge that we are ready and able to stand up in court, if necessary, to justify our findings.
Onsite appraisals of antiques or residential contents are usually done to appraise multiple items. The average onsite appraisal of an entire home’s contents or collections generally takes 3-4 hours for the onsite evaluation and typically an equal amount of hours off site for research and report development. This is an estimate only. The time spent on site is dependent on multiple factors (please see preparing for an on site appraisal)
Data is collected on recent sales of properties similar to the subject being valued, called "comparables". Only SOLD properties may be used in an appraisal and determination of a property's value, as they represent amounts actually paid or agreed upon for properties. Sources of comparable data include real estate publications, public records, buyers, sellers, real estate brokers and/or agents, appraisers, and so on. Important details of each comparable sale are described in the appraisal report. Since comparable sales are not identical to the subject property, adjustments may be made for date of sale, location, style, amenities, square footage, site size, etc. The main idea is to simulate the price that would have been paid if each comparable sale were identical to the subject property. If the comparable is superior to the subject in a factor or aspect, then a downward adjustment is needed for that factor.[clarification needed] Likewise, if the comparable is inferior to the subject in an aspect, then an upward adjustment for that aspect is needed.[clarification needed] The adjustment is somewhat subjective and relies on the appraiser's training and experience. From the analysis of the group of adjusted sales prices of the comparable sales, the appraiser selects an indicator of value that is representative of the subject property. It is possible for various appraisers to choose a different indicator of value which ultimately will provide different property value.
Real property appraisers usually value one property at a time, while assessors value many at once. However, both occupations use similar methods and techniques. As a result, assessors and appraisers tend to take the same courses for certification. In addition to passing a statewide examination, candidates must usually complete a set number of on-the-job hours.

In the course of evaluating a property, an appraiser is expected to be alert and take notice of aspects and characteristics of the property, as well as the surrounding area, that could affect the value. This can include assessing the overall noise levels of the area, proximity to sources of recurring loud disturbances such as an airport or a railroad line, as well as the view offered by the property. Obstructions by neighboring buildings, for instance, could reduce the value of a property.


The Pinellas County property appraiser is responsible for finding, locating, and fairly valuing all property within Pinellas County with the purpose of assessing the taxable value. It's generally done at market value, which is essentially what someone would pay for the current state of your property. To get questions answered about your appraisal, find a property appraiser, or appeal a decision made by a property appraiser in Pinellas County, you can contact them at the following address:
Congratulations to Rick Singh, CFA, and the Office of the Orange County Property Appraiser for this week's recognition by the International Association of Assessing Officers (IAAO)! We received the Certificate of Excellence in Assessment Administration for "demonstrating the highest levels of managerial excellence and consistent utilization of practices that exceed the guidelines ... in property assessment administration practices." Shown in the photo (L-R) are Jeff Miller, Terry Taylor, Roger Ross, Tatsiana Sokalava, Rick Singh, Ron Sullivan, and Fred Hill.  
Congratulations to Rick Singh, CFA, and the Office of the Orange County Property Appraiser for this week's recognition by the International Association of Assessing Officers (IAAO)! We received the Certificate of Excellence in Assessment Administration for "demonstrating the highest levels of managerial excellence and consistent utilization of practices that exceed the guidelines ... in property assessment administration practices." Shown in the photo (L-R) are Jeff Miller, Terry Taylor, Roger Ross, Tatsiana Sokalava, Rick Singh, Ron Sullivan, and Fred Hill.  
Mail: Request public records by mail. Send your request to: Public Records Request, Pinellas County Marketing & Communications, located at, 333 Chestnut St., Clearwater, FL 33756. To help us expedite and avoid delays in processing your request, please be as detailed as possible with the information you are requesting. The request will be reviewed and forwarded to the department liaison responsible for processing your request. You will be notified by mail to let you know that your request has been received and the steps required to complete your request.
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