Entries by Josh Walitt

Appraising Diamonds on Brass Rings

In the context of a real estate appraisal, what is an overimprovement (or superadequacy)? Per the 14th edition of The Appraisal of Real Estate (p. 624) it is a “…type of functional obsolescence caused by something in the subject property that exceeds market requirements but does not contribute to value an amount equal to its […]

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Complexities

Complexities in appraisal work come up periodically, depending on the market you work in and the types of properties that are common to the area. I office in Colorado and have had the opportunity to appraise in rural and extremely remote areas. In the case of one particular market area, the trip one-way takes over […]

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