Chapter 7 Above grade ANSI standard Architectural styles Belowgrade Building specifications Condition Construction classification Effective age Floor plan Functional utility Inspection checklist ID: 338336
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Slide1
PROPERTY INSPECTION AND ANALYSIS: THE IMPROVEMENTS
Chapter
7Slide2
Above gradeANSI standardArchitectural stylesBelow-gradeBuilding specificationsConditionConstruction classification
Effective ageFloor planFunctional utility
Inspection checklistLiving areaQuality2CHAPTER TERMS AND CONCEPTSSlide3
LEARNING OUTCOMESDescribe what tools are useful when making a field inspection of
the improvements.Describe the data emphasized in each of the three approaches to value
.Name the major items of a structure that the appraiser seeks to describe and rate.Describe four construction classification types.Explain what is meant by functional utility.3Slide4
THE BUILDING INSPECTIONThe Intended Use of the AppraisalThe Intended Users of the Appraisal
Limiting ConditionsThe Value Approach Requirements4Slide5
IMPROVEMENT CHARACTERISTICSExterior and Interior FeaturesAppeal and Marketability
Construction QualityPhysical Condition
Effective Age5Slide6
AGEIn the past, some residential loan appraisals required the appraiser to estimate “effective age
.” To comply with UAD system today the “actual age
” must be used.6Slide7
ACTUAL AGEThis is the chronological age of the property improvements.
7Slide8
EFFECTIVE AGEEffective age is usually defined as the relative age of a structure considering its physical condition and marketability.
8Slide9
RECORDING IMPROVEMENT DATA9Slide10
Building Diagram10Slide11
JUDGING APPEAL AND MARKETABILITYConstruction QualityPhysical Condition Room Size and Layout
Closets and StorageEnergy EfficiencyBaths and PlumbingHeating and Air Conditioning
Kitchen Cabinets & EquipmentCar Storage FacilitiesLandscaping and Outdoor Improvements11Slide12
UNDERSTANDING BUILDING CONSTRUCTIONGeneral ClassificationsClass A – Fireproof steel frames, concrete or masonry frames, floors and roof deck
Class B – Fire resistant concrete or masonry floors, and roofs12Slide13
BUILDING CONSTRUCTION (continued)General ClassificationsClass C – Masonry walls, wood or exposed steel upper floor and roof structures
Class D – Wood or light steel frames & roofs
13Slide14
BUILDING CONSTRUCTION (continued)General ClassificationsClass S – Steel buildings, steel frame with steel roof and walls
14Slide15
BUILDING CONSTRUCTION (continued)Selection of MaterialsClimate, cost and durabilityAvailability, style and code requirements
Residential SpecificationsVary greatly with climate, availability, cost, style, etc.Examples:
Hawaii vs. AlaskaCalifornia vs. New York15Slide16
BUILDING CONSTRUCTION (continued)Building QualityGood – better than average materials and workmanship
Average – medium quality FHA and VA standardsFair – Minimum acceptable qualityPoor – Substandard constructionSee your cost manual
16Slide17
BUILDING CONSTRUCTION17
Figure 7-4Slide18
BUILDING CONSTRUCTION18
Figure 7-5Slide19
CHOICE OF MATERIALS19
Figure 7-6Slide20
Floor Plans20
Figure 7-8Slide21
Architectural Styles21
Figure 7-9Slide22
SUMMARY22
The inspection and analysis of real property
improvements require preparation and planning. The intended use of the report greatly affects the amount and kind of data required in the inspection and analysis of improvements. The purpose of most appraisals is to estimate market value. This generally requires a detailed description of the physical structure and a rating for market acceptability. Regardless of the approach to be emphasized, the building inspection should accurately describe and rate the physical features of the structure for marketability, quality of construction, and physical
condition
. It is desirable
that the appraiser have a basic knowledge of design
principles in
construction.