Transcript appraisal grammar 101

APPRAISAL GRAMMAR 101
“Huukt on Fonnix,”
reelley wirked fir
mee!
THE VALUATION PROCESS
Definition of the Problem
Identification of
intended users
Intended use of
appraisal
Purpose of
appraisal
Date of opinion of
value
Identification of
property
characteristics
Extraordinary
assumptions
Hypothetical
conditions
Scope of the Work
Data Collection and Property Description
REPORT OF FINAL VALUE
Market Area Data
Subject Property Data
Comparable Property Data
Data Analysis
Market Analysis
Highest & Best Use Analysis
Land Value Opinion
Application of the Approaches to Value
Cost
Sales Comparison
Income Capitalization
Reconciliation of Value Indications and Final Opinion of Value
Report of Final Value
USPAP
Standard 2-Real Property Appraisal,
Reporting
“In reporting the results of a real
property appraisal, an appraiser
must communicate each analysis,
opinions, and conclusion in a
manner that is not misleading.”
APPRAISAL GRAMMAR 101
 A DOR
appraiser presents a credible
opinion of value that is well written and
supported by market data.
 A county
PA will be more easily
convinced if the report is well written.
APPRAISAL GRAMMAR 101
 As
appraisers, we often write the way
we speak.
 Our writing must be clear, logical, and
easy to understand.
 Professional writing should be void of
slang, clichés, contractions, and
colloquialisms.
APPRAISAL GRAMMAR 101
 General
principles of grammar we
will discuss are:
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Redundant words
Prudent use of words
Common misspelled words
Commonly misused words
Overused hedge words
Expression of numbers
Proper punctuation
Capitalization
Writing tips
Proof reading
APPRAISAL GRAMMAR 101
According to Alan Blankenship, Ph.D.,
author of The Appraisal Writing Handbook,
 Amateurs
complicate…..
Professionals simplify
REDUNDANT WORDS
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Close proximity
Combined together
And also
Exactly the same
And etc.
My own personal opinion
Rectangular in shape
Refer back
Rough estimate
Sum total
Surrounded on all sides
Valuable asset
PRUDENT USE OF WORDS
Why use several words when few will do.
Here are some suggestions.
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Being of the opinion that, replace with, I believe.
Due to the fact that, replace with, since or because
For the purpose of, replace with,to or for.
Give consideration to, replace with,consider.
Has a tendency to, replace with, often.
Present time, replace with, present or now.
With regard to, replace with, concerning or about.
PRUDENT USE OF WORDS
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A sufficient quantity of, replace with, enough.
Place emphasis on, replace with, emphasize.
In view of the fact, replace with, because.
Inasmuch, replace with, because.
Make use of or utilization, replace with, use.
Is an indication that, replace with, indicate.
Due to the fact that, replace with, because.
APPRAISAL GRAMMAR 101
SPELL CHECK!
COMMON MISSPELLED
WORDS
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Stratum not stratam
Tenant not tenent
Duct not ducted
Quantity not quanity
Comparable not comprable
Masonry not masonary
Misimprovement is not a word
Stratum is singular
Strata is plural
Complement vs Compliment
COMMONLY MISUSED
WORDS
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Comparable is not a noun.
Actuary is one calculates insurance risk and
premiums.
Stratum is singular
Strata is plural
Complement vs Compliment
Comparable is not a noun.
Actuary is one who calculates insurance risk and
premiums.
It’s vs Its
Sale price vs Sales price
COMMONLY MISUSED
WORDS
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Affect vs Effect
Capitol vs Capital
Principle vs Principal
Further vs Farther
Utilize vs use
Whether (or not)
Either (or)
Quit Claim vs Quick Claim
LEGALEZE
Try not to sound like a lawyer and use simple words.
Avoid words like:
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Appraisement
Predicated
Heretofore
WORDS TO AVOID
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Utilize
Above-referenced
Consummate
Finalize
Very
and herein
OVERUSED HEDGE WORDS
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Appear
Seem
Likely
Probably
Is considered
Appraiser’s opinion
Is deemed
Is reported to be
EXPRESSION OF NUMBERS
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Numbers 1-9 should be written as words.
Fractional numbers are easily read as decimals.
Example 1 3/4 acres should be 1.75 acres
Decimals less than one should begin with a “0.”
Example 0.333
Never begin a sentence with a number
If several numbers are expressed in the same
paragraph, write them all numerically.
PUNCTUATION
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Hyphens: Two or more words used as a modifier and
precedes a noun, you must hyphenate.
one-story house
10-mile radius
900-square-foot building
average-to-good condition.
nine-acre parcel
Commas: Use commas to separate a series of
descriptors, or at a place in a sentence where you
would take a breath.
PUNCTUATION
 Examples:
We have inspected small,
average, and large-sized homes.
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subject property is in a flood zone,
however, there was no indication of
flooding.
PUNCTUATION
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Apostrophes: When indicating a singular possessive
form of a word, add an ‘s to the word.
Example: John’s car, a man’s suitcase, the lion’s
mane, or Joel’s office
Market’s reaction
Building’s foundation
When indicating a plural possessive form, add s’.
Example: the Corbett’s new home, homeowners’
association, or DOR appraisers’ assignments
Acronyms typically require an S with no apostrophe
in the plural.
PUNCTUATION
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Example: GIMs, PRCs, NOIs, and OARs
Periods should be placed within parenthesis or
quotation marks.
Example: Jack McKinnon recently said, “Those DOR
senior appraisers are the greatest.”
CAPITALIZATION
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Specific areas or regions should be capitalized. Why
do people in the North talk funny? Florida is located
in the South.
Non-specific directions are not capitalized.
Comparable Sale One is located one mile to the
north.
When making reference to a city, the city of
Tallahassee, city is not capitalized.
Land Sale One, or Comparable Sale Two are
capitalized
The word “subject” is not capitalized.
CAPITALIZATION
These are always capitalized.
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City names and counties
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Business names
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Individual names
WRITING TIPS
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Avoid flowery and excessive language.
Write concisely, but thoroughly
Focus on the facts and the market, not a recollection
of the appraisers’ activities.
Avoid unnecessary hedging
Know your conclusion before writing
Reveal logical thought process and analysis.
Lead the reader methodically to the conclusion.
The reader should be able to predict the conclusion
from the discussion.
WRITING TIPS
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Realize the writer knows more than the reader.
Array data in logical order
Organize the discussion logically
Avoid mathematically derived conclusions
WRITING TIPS
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FINAL RECONCILIATION
Discuss the three approaches to value
Discuss the quality and quantity of market data
Indicate the appraiser’s level of confidence in
applicable approaches
Lead the reader methodically to a conclusion
PROOF READING
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Remember spellchecker!
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Read your work in printed form, not on the computer
monitor.
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When using Word pay attention to the red and green
underlines
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Exchange reports with a coworker.