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DATA COLLECTION AND ANALYSIS

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DATA COLLECTION AND ANALYSIS

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  1. DATA COLLECTION AND ANALYSIS • GENERAL DATA: SOCIAL CONSIDERATIONS • POPULATION CHARACTERISTICS SUCH AS AGE, FAMILY SIZE, HOUSEHOLD INCOME, ETC. • PRESENCE OF EDUCATIONAL / MEDICAL / SOCIAL / RECREATIONAL / COMMUNITY SERVICES. • PRESENCE OF COMMERCIAL / AGRICULTURAL SERVICES.

  2. ECONOMIC CONSIDERATIONS • ANALYSIS OF THE LOCAL ECONOMY, POPULATION, EMPLOYMENT, AND INCOME. • FOR AGRICULTURAL PROPERTIES THIS WOULD RELATE TO THE ECONOMIC SITUATION IN THE AGRICULTURAL ECONOMY.

  3. GOVERNMENTAL CONSIDERATIONS • ZONING AND OTHER REGULATIONS, MASTER PLANS, ENVIRONMENTAL IMPACTS, TRANSPORTATION SYSTEMS, TAXES ASSESSMENTS AND RATES, ETC.

  4. ENVIRONMENTAL CONSIDERATIONS • PHYSICAL FEATURES OF THE STUDY AREA. • TOPOGRAPHY • SOILS • CLIMATE

  5. TAXES - TAX RATES FOR LOCAL AND STATE TAXING ENTITIES. FINANCING - COST AND AVAILABILITY OF FINANCING.

  6. SPECIFIC DATA • SPECIFIC DATA INCLUDES DETAILS ABOUT THE SUBJECT PROPERTY AND COMPARABLE SALES. • SPECIFIC DATA FOR THE COMPARABLE SALES: SALES PRICE RENTAL INCOME AND EXPENSES

  7. CONSTRUCTION COSTS OF IMPROVEMENTS • DERIVED CAPITALIZATION RATES • DEPRECIATION

  8. THIS DATA IS USED TO DERIVE ADJUSTMENTS FOR VALUE INFLUENCING PROPERTY CHARACTERISTICS, TO ISOLATE MEANINGFUL UNITS OF COMPARISON, TO ANALYZE CAPITALIZATION RATES, AND MEASURE ACCRUED DEPRECATION.

  9. A DETAILED DESCRIPTION OF THE CHARACTERISTICS AND COMPONENTS OF THE SUBJECT PROPERTY IS ASSEMBLED FOR THE LAND AND IMPROVEMENTS.

  10. IN SELECTING MARKET DATA FOR ANALYSIS, AN APPRAISER WILL FOCUS ON MARKET TRANSACTIONS THAT ARE PERTINENT TO THE SUBJECT PROPERTY.

  11. MARKET TRANSACTIONS THAT ARE SIMILAR TO THE SUBJECT PROPERTY ARE PREFERRED, YET ABSOLUTE COMPARABILITY IS IMPOSSIBLE.

  12. DETERMINANTS OF USEFUL DATA 1) DEGREE OF COMPARABILITY 2) QUANTITY OF INFORMATION AVAILABLE 3) RELIABILITY OF THE DATA. DO NOT ASSUME THAT ALL DATA IS COMPLETELY RELIABLE. CONFORMATION OF DATA SHOULD BE OBTAINED WHENEVER POSSIBLE.

  13. SOURCES OF SPECIFIC DATAREGARDING COMPARABLE SALES • PUBLIC RECORDS SEARCH PUBLIC RECORDS FOR THE RECORDING OF WARRANTY DEEDS AND DEEDS OF TRUST.

  14. THE WARRANTY DEED WILL REVEAL THE PARTIES INVOLVED IN THE TRANSACTION, THE PROPERTY RIGHTS BEING TRANSFERRED, THE LEGAL DESCRIPTION OF THE PROPERTY, TRANSACTION DATE, AND SOME CONSIDERATION OF VALUE.

  15. THE DEED OF TRUST WILL PROVIDE INFORMATION ON THE AMOUNT OF FINANCING AND THE SOURCE OF FINANCING.

  16. THE INFORMATION REGARDING A COMPARABLE SALE SHOULD BE VERIFIED WITH THE PARTIES INVOLVED OR THE REALTOR INVOLVED, IF POSSIBLE.

  17. OTHER SPECIFIC DATA • IMPROVEMENT COST DATA: ACTUAL BUILDING COST ESTIMATES. COST MANUALS, EXAMPLE: MARSHALL VALUATION SERVICE

  18. INCOME AND EXPENSE DATA: YIELD AND PRODUCTIVITY INFORMATION EXTENSION CROP AND LIVESTOCK BUDGETS

  19. FARM SERVICE AGENCY (FSA) INFORMATION REGARDING BASES, YIELDS, AND GOVERNMENT PAYMENTS FOR THE SUBJECT AND COMPARABLES. TYPICAL RENTAL AGREEMENTS AND LEASES FOR THE AREA.

  20. CAPITALIZATION RATES: TYPICALLY DERIVED FROM THE MARKET DATA AND INCOME AND EXPENSE INFORMATION.

  21. AREA DESCRIPTIONS • GENERAL INFORMATION: TYPES OF FARMING IN THE AREA, IRRIGATED AND DRYLAND, CROP AND LIVESTOCK ENTERPRISES. GENERAL DESCRIPTION OF SOILS IN THE AREA.

  22. CLIMATIC INFORMATION SUCH AS RAINFALL, AVERAGE FREEZE DATES, LENGTH OF GROWING SEASON, MEAN AND EXTREME TEMPERATURES, ETC. MARKET OUTLETS AND FACILITIES.

  23. COMMUNITY INFORMATION: TRANSPORTATION SCHOOLS AND CHURCHES SHOPPING AND SERVICE FACILITIES

  24. SPECIFIC INFORMATION ON SUBJECT AND COMPARABLES • LEGAL DESCRIPTION • ASSESSED VALUATION AND TAXES • ZONING REGULATIONS • SOILS CLASSIFICATION MAPS • FSA INFORMATION

  25. ENVIRONMENTAL LIABILITIES • THE MOST FAR REACHING FEDERAL ENVIRONMENTAL LAW IS THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY ACT OF 1980 (CERCLA).