| Name: |
TH
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 9:33:24 AM
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Anyone know a reputable appraiser, knowledgeable with lake-side property on the south side of the lake?
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| Name: |
FLee
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 10:01:02 AM
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Check with George Hammond at Lisa Hammond Realty.
256-825-9991
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| Name: |
lakeview
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 10:52:19 AM
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Check with Gerald Knight at Knight Appraisal Company in Alexander City.
1033 Cherokee Road
Alexander City, AL 35010
P - 256.234.7397
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| Name: |
TH
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 10:54:30 AM
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Thanks FLee, but I'm wary of values from realtors. They tend to give you an inflated estimate of the value of a property to get you to list it with them, then once they get the listing, they start asking you to lower the price to a value than will actually sell (they have a built-in bias).
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| Name: |
shirt
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 11:00:17 AM
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George is not an appraiser but does know everyone in the area that is I am sure if you call him he will steer you in the right direction. I have used Stacy McCullers but she is hard to get a hold of. I have used Lisa Hammond Realty a couple of times and had great luck with them. Always got a fair shake!
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| Name: |
TIVO
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| Subject: |
Jim says....
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Date:
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8/4/2004 11:24:38 AM
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$1,000 a foot water front.
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Received a post card like notice recently from presumably the local and state tax assesors offices stating that to keep up to date with Alabama regs, a reappraisal was performed on my property. On one hand, the astonishingly low appraisal bodes well for tax purposes, however, how closely does this represent any where near market value and is it accessible to the public if I were to sell any time in the future (not planning to)? Any info from y'all would be appreciated! Thanks.
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| Name: |
FLee
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 12:10:17 PM
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I understand.....however, I have known George for years and, if anything, he is a straight shooter. He was an appraiser years ago; has been doing real estate lately; and has recently gone back to get his appraiser certification again.
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| Name: |
LifeTime Laker
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| Subject: |
Jim says....
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Date:
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8/4/2004 12:12:14 PM
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Doc are you looking at the 'assessed' value or the fair market value. I can not recall which Alabama sends to the owner, probably both on there somewhere. And yes it is a matter of Public Record, easily accessable in Dadeville courthouse.
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| Name: |
FLee
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| Subject: |
Jim says....
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Date:
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8/4/2004 12:22:49 PM
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During the latest property valuation by Tallapoosa Co, I did a bit of research on various lots (about 12 total) and it appears to be all over the place. Some were clearly under market value while some where definately over the market value for the area. Some of the undervalued lots tend to be owned by people who have once (or twice over the years) contested the valuation and had them lowered. I know of several people (including myself) who had adjustments made after the last valuation because we felt they were too high.
Bottom line, it's much better to be undervalued because of the lower taxes. I don't think it really affects the sales price that much since prices tend to follow market value vs. tax valuation.
Just my two cents.....
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| Name: |
Firefighter
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 1:46:01 PM
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I used Staci McCullers for my appraisal and it was the worst job I ever had. She let a trainee do the appraisal and she signed it without ever looking at it.
When I asked her to re-evaluate it she refused. Her appraisal for our lake property was lower that it was appraised for 5 years ago saying that lake property depreciated in value.
Anyone would be better than her.
URL: 3825
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| Name: |
lakebum
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 2:07:38 PM
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Are you buying or selling???
Geo Hammond did miune several years agop and did a good jopb...but done think he is doing it anymore..
Any appraiser ahs to follow the same rules and use comparables..
the tax assessment isnt even close to market value..
And...you shd get to see the aprraisla before you pay for it..
I had one done and it came back less than a few eyars before...I refused to pay for it...they didnt do good comparables..
SO..its a crap shoot...but there are a couple good ones in Alex City...
I askecd my realtor...call 825-9991 and ask for an appraiser referecne..
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| Name: |
TIVO
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| Subject: |
great link....try mine
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Date:
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8/4/2004 2:14:54 PM
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URL: yru2fat
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| Name: |
Island Camper
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| Subject: |
No offense intended, but......
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Date:
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8/4/2004 2:26:55 PM
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Are you drunk? That post was the most difficult to read that I've seen on the forum in a while.
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| Name: |
JIM
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| Subject: |
Jim says....
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Date:
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8/4/2004 4:54:48 PM
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Only the lot, not the structures. 1,000 $ a ft. for a average lot.
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| Name: |
laidback
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 5:13:48 PM
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I at one time was a state certified appraiser. My Dad has been doing appraisal for 30 years. Appraisals are very subjective. My Dad and I could appraise the same property, use the same comparables and come up with completely different values. To use an appraisal for lending purposes, you must use a state certified appraiser as well as an appraiser who is listed on the lending companies approved list.
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| Name: |
TH
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 5:24:31 PM
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No, just thinking about selling a cabin and I have no idea what a "fair market" value would be.
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| Name: |
FLee
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 5:31:21 PM
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TH, if you want to email me with info on your cabin, I'll be glad to pass it to some friends who are currently looking to buy.
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| Name: |
Feb
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 5:47:26 PM
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I have heard that the market has suddenly turned sour. Seems there is a sudden exit of folks from the Lake and Alabama packed up in their Chevy pick-ups and headed for Texas. Problem is Texas is Ford Country (oops got my Presidents wrong - Bush Country). Just joking. Texas doesn't need anyone with broken BB guns.
Like others have said; there are so many variables. You are probably doing the right thing by looking for at least a semi-professional appraisal for your planning purposes. I would even agree with some that a local realitor specializing in Lake property would be of help.
Now Jim, I do not know your source for the grand a foot. Not saying you are wrong but please provide some additional insight on that one. Several years back I heard that from someone with a place on the market, but it was an improved lot with an average cabin. He had 280 ft. of water frontage and was asking $280,000.00 for the place. He claimed it was a rule of tumb. I guess it depends on who's thumb, and then there is that dang exodous to Texas. I would discount that rule of thumb since there are too many variables and a key one is location. Then there is improvements, lot conditions, water conditions and etc. We want re-plow the theories on East/West/North/South facing of the lot.
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| Name: |
JIM
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| Subject: |
Lake Property Appraiser
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Date:
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8/4/2004 7:39:07 PM
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FEB, TRIED TO GO INTO MORE DETAIL BUT THE fbi CHIT GOT ME, BUT THAT`S MY RULE OF THUMB.
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| Name: |
roswellric
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| Subject: |
What Confusion!
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Date:
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8/4/2004 8:51:32 PM
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Man, did this post ever set off some stuff!
Look, I have no idea what TH wanted exactly but let me cure up a few things if I can:
1. An appraisal is , by definition, an opinion of value.
2, Appraisals can come from many sources including real estate agents, bankers, tax departments, your barber and of course licensed appraisers that are licensed by the state to charge for their opinion.
3. Appraisals are not the final authority on value - buyers are.
Now if I were a potential seller looking for a price for my property I would do a few things first:
1, I would ask around and find a reputable real estate agent - maybe 3- to see what their opinion is.
2. I would ask for recent comparable sales as evidence of their conclusion..
3. If I was not convinced I would get a professional appraisal ( from a licensed appraiser).
Then I should be able to come up with a fairly close estimate of the value. If I was unsure I might price it a little higher (not too high) to not leave money on the table.
Lakefront property at LM is very difficult to figure since the supply is very limited and if there is a sudden surge in demand then prices can get wild. Remember there is only a very few developers on the lake. I would figure this scenario in before pricing my property.
Now if I was arguing for and estate value for taxes or advalorem taxes I would make any case I could for lower values.
You know what MAI stands for? Made As Instructed!
RR
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thank you CEO and FLee for the info..
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There was only one value listed and it stated that it was based on fair market value. Nothing mentioned about assessed value on that card.
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| Name: |
lakebum
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| Subject: |
I type like yall spell
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Date:
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8/5/2004 6:22:46 AM
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| Name: |
LifeTime Laker
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| Subject: |
Your welcome Doc.
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Date:
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8/5/2004 7:50:58 AM
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Flee had some very valid points too. My Dad challenged re-evlaution on his old place many years ago, and won. I don't have an issue cuz the county has mine grossly undervalued. I don't complain, it saves me money. The tax amount is shown on the appraisal when one is done, and is also reported when a title search is done. But it has no meaning in actual contract price when buying or selling. Lenders and underwriters use it to prorate the taxes and to confirm that they are in fact current.
If you have any neighbors that have recently bought or sold, ask them what they paid. That will give you a good starting point and is very easy and simple. Local appraisers or a shot in the dark. I recently hired one that gave me value 15% below the last appraisal 2 years ago. I told him to take a hike, hired another and he gave a value with 10% increase over the last appraisal. How they supposedly "professionals" can be so far apart is beyond me. The DATA and the MARKET set the value, not the appraiser. The apprasier just reports the DATA and makes an opinionated judgement as to what the DATA means.
Good Luck.
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| Name: |
lakebum
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| Subject: |
You are right..
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Date:
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8/5/2004 9:52:19 AM
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| Name: |
TH
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| Subject: |
Lake Property Appraiser
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Date:
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8/5/2004 2:59:08 PM
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Thanks for all the opinions, I've had expierience with appraisals based on unreasonable comparisions as well as less than honest / un-biased real estate "professionals".
It pretty much depends on how much time and investigation the appraiser is willing to do. Too often, they just use the "comps" that they already have information and photos on from their file cabinets (applicable or not).
Lake property is especially hard because it varies so much based on the value of the lot and the smallness or extravagance of the building on it. That's why I need somebody with specific experience on my side of the lake.
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| Name: |
FLee
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| Subject: |
Lake Property Appraiser
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Date:
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8/5/2004 4:06:14 PM
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Even after all that.....I still recommend you speak with George Hammond since he is actively doing appraisals again.
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| Name: |
roswellric
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| Subject: |
Well...
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Date:
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8/5/2004 8:34:32 PM
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Yes, but you are the one ultimately responsible for getting your money's worth! Good luch!
RR
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| Name: |
vroommer
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| Subject: |
Lake Property Appraiser
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Date:
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9/23/2004 3:39:07 PM
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I'm looking for a property at the Lake, could you email me information about your property?
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