Category Archives: Real Life

Multifamily Non-Rented Space

An Assessment Professional recently posed a question on this topic: When is lost income from non-rented apartment units a valid charge as an expense, and when is it not? The answer is usually related to scale. Emerging virtual model displays … Continue reading

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Location, Location, In What Order?

Unless you are driven by necessity to only consider price, why do you pick one hotel over others in the same market? Location is usually the first reason on the list. You book a hotel because you don’t live there, … Continue reading

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When 1 + 1 < 2

The term plottage refers to the incremental value above the sum of individual values of parcels brought about by their combination. Can combining parcels ever reduce value? As always, the answer is found in the principles of Highest and Best … Continue reading

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Where There’s Smoke, There’s Ire

The guy across the hearing table appears increasingly agitated about his assessed value. Or maybe this occurrence is simply what is expected, thus perceived? Perhaps that is for the best because it cues your instincts, as an Assessment Professional, to … Continue reading

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Eagle Eyes, Owl Ears

The (daylight active) eagle famously has extraordinary eyesight, with four times the sharpness of humans and ability to dual focus frontally and to the sides, as well as excellent hearing. The (nighttime active) owl has such great hearing it locates … Continue reading

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Transmission Rebuild

Never at a loss for relating almost anything to income-based analysis for real property, I find a ready analogy in the renovation of an older car. Just consider the rebuilding of an auto transmission as an example of how important … Continue reading

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Do Values Stand Still?

Recent history tells us that real property values almost never stand still. In many markets, values broadly tanked beginning in 2008 until a slow climb back up began in about 2011. But what if values did stand still, even as … Continue reading

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Delivering Equity Takes Diligence

The appeals process reminds us to focus on equity for the taxpayer. Though frivolous appeals happen all too often, appeals certainly can be justified. Since my role in this industry is to provide guidance in income based valuation, a policy … Continue reading

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Pickup Ruck

The title of this post does not have a typo. The word “ruck” has several meanings, most having to do with typical gatherings of people or things. In rugby, it refers to a scramble for the ball on the ground. … Continue reading

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Fibber Optic

Or said another way: The viewpoint of one who doesn’t speak the truth. Convenient Omission “We bought it last year for $1 Million” while failing to mention it was just a building shell at the time. Convenient Commission “I reported … Continue reading

Posted in Real Life