Appraisals
Since the Global Credit Crisis in the later part of 2008, investors and developers looking for real estate financing have experienced a greater degree of scrutiny from the mortgage industry. We have found that both lenders and property owners are looking for appraisal reports from reputable companies that do solid work. Parkes & Company has maintained a standard of appraisal report that is well respected by the most discerning professionals from both the financial and real estate industries.
Since the Global Credit Crisis in the later part of 2008, investors and developers looking for real estate financing have experienced a greater degree of scrutiny from the mortgage industry. We have found that both lenders and property owners are looking for appraisal reports from reputable companies that do solid work. Parkes & Company has maintained a standard of appraisal report that is well respected by the most discerning professionals from both the financial and real estate industries.
Commercial, Industrial
Commercial and industrial property valuation requires special expertise, particularly in volatile real estate markets. Our experience in appraising property in markets across the country, ranging from small single tenant warehouses to downtown office towers, gives us comprehensive insight into the market value of commercial and industrial real estate. We have a strong background in appraising income producing properties, and possess a clear understanding of the importance of defining the income potential and market condition aspects vital to estimating value. The firm utilizes the ARGUS Discounted Cash Flow Program for properties that have varying income streams over time.
Commercial and industrial property valuation requires special expertise, particularly in volatile real estate markets. Our experience in appraising property in markets across the country, ranging from small single tenant warehouses to downtown office towers, gives us comprehensive insight into the market value of commercial and industrial real estate. We have a strong background in appraising income producing properties, and possess a clear understanding of the importance of defining the income potential and market condition aspects vital to estimating value. The firm utilizes the ARGUS Discounted Cash Flow Program for properties that have varying income streams over time.
Multi-Family Residential
The complexities associated with the multi-family market make it important to get sound advice from appraisers who have experience during "good" and "bad" markets. Since residential markets vary from area to area, it is also prudent to obtain advice from a consulting firm that is familiar with a variety of regions and markets. Parkes & Company has extensive experience in the multi-family sector, relating to both rental properties and those marketed as strata-titled condominiums. Over the years, we have valued numerous high-rise projects using computerized adjustments and databases to define adjustments related to size, floor, views and other variables.
The complexities associated with the multi-family market make it important to get sound advice from appraisers who have experience during "good" and "bad" markets. Since residential markets vary from area to area, it is also prudent to obtain advice from a consulting firm that is familiar with a variety of regions and markets. Parkes & Company has extensive experience in the multi-family sector, relating to both rental properties and those marketed as strata-titled condominiums. Over the years, we have valued numerous high-rise projects using computerized adjustments and databases to define adjustments related to size, floor, views and other variables.
Land
The appraisal concept of “Highest and Best Use” is critically important when appraising land parcels. Is the existing use the best use or is the property ripe for redevelopment or is it an interim use site? Parkes & Company took taken this argument through the Assessment Appeal Board and the courts and is uniquely qualified to clarify this issue with regard to any property they may be appraising Raw land valuation is done on a direct comparison approach which is dependent on comparables, but if the subject property has some unique features, it takes the skill of highly qualified and experienced appraisers to arrive at the proper estimated value of the site. The valuation of vacant land represents appraisal task that requires an in-depth knowledge of the “highest and best use” of the site.
The appraisal concept of “Highest and Best Use” is critically important when appraising land parcels. Is the existing use the best use or is the property ripe for redevelopment or is it an interim use site? Parkes & Company took taken this argument through the Assessment Appeal Board and the courts and is uniquely qualified to clarify this issue with regard to any property they may be appraising Raw land valuation is done on a direct comparison approach which is dependent on comparables, but if the subject property has some unique features, it takes the skill of highly qualified and experienced appraisers to arrive at the proper estimated value of the site. The valuation of vacant land represents appraisal task that requires an in-depth knowledge of the “highest and best use” of the site.
Specialty Property
Parkes & Company has developed a specialty property division for the valuation of unique properties or unusual property rights. This field requires detailed market research and study, as often these properties form limited or low volume markets. The key to valuing these properties involves the accumulation of computerized databases, which provide overviews and target industry norms. We have completed appraisals, and studies on a wide range of unconventional properties such as: airport properties, marinas, golf courses, ski resorts, cemeteries, water lots, riparian rights, hotels, resorts, mobile home parks, motel properties, ground leases, air rights, restaurants, pubs, churches, schools, mini storages and congregate care facilities.
We would be happy to speak to you if you require assistance with any of these types of properties.
Parkes & Company has developed a specialty property division for the valuation of unique properties or unusual property rights. This field requires detailed market research and study, as often these properties form limited or low volume markets. The key to valuing these properties involves the accumulation of computerized databases, which provide overviews and target industry norms. We have completed appraisals, and studies on a wide range of unconventional properties such as: airport properties, marinas, golf courses, ski resorts, cemeteries, water lots, riparian rights, hotels, resorts, mobile home parks, motel properties, ground leases, air rights, restaurants, pubs, churches, schools, mini storages and congregate care facilities.
We would be happy to speak to you if you require assistance with any of these types of properties.
