Commercial Property Valuation
Apartment Appraisals
Since apartments are income-producing properties, many factors are considered when providing an accurate valuation. Apartments generate income mainly through monthly unit rent, but can generate additional income from parking, laundry, pet fees, and late fees.
Apartment Form Reports
71A Form Report
ValCore Appraisal has experience providing valuations on Freddi Mac'sForm 71A (Residential Income Property Appraisal Report). Form 71A contains a neighborhood and market description area, income & expense analysis, comparable rental analysis, and the option to complete all three approaches to value within the report.
71B Form Report
ValCore Appraisal has experience providing valuations on Freddi Mac'sForm 71B (Residential Income Property Appraisal Report). Form 71B contains a subject property description area, income & expense analysis, comparable rental analysis, and the option to complete all three approaches to value within the report.
Commercial Real Estate Appraisal
Our valuation reports are concise, yet thorough and easily digestible. Our conclusions within the report are always presented in an easy-to-read manner, and are always well-supported. Our appraisal process begins with a thorough interior and exterior inspection of the subject property, followed by extensive research and analysis, and topped-off with a rigorous internal review process before the appraisal is sent to the client.
Self-Storage Appraisal
ValCore Appraisal is experienced in conducting self-storage appraisals throughout southeastern Wisconsin. We understand the economic of self-storage facilities, and the contributors of value.
Restricted Appraisal Report
ValCore Appraisal gives customers the option to order a Restricted Appraisal report. Essentially, a Restricted Appraisal report is a shortened and condensed appraisal report. Restricted Appraisal report presents only a portion of the full data used in the valuation process, with the supporting information and analysis retained in the appraiser’s work file.
Restricted Appraisal reports are available only when the Client is the only intended used of the appraisal. (For example, for internal planning for potential sale). A Restricted Appraisal report is not an option available to customers if more than one party will rely on the appraisal report (such as an appraisal report for tax reporting, as the IRS and other parties will likely reply on the report).
Residential Property Valuation
Desktop Appraisal
A desktop appraisal is an appraisal where the appraiser does not physically see the property being appraised. Instead, the appraiser relies on public data and private data. (We do provide customers the ability to provide interior and exterior photographs of the subject property being appraised.)
When completing an online/desktop appraisal, we provide the same back-end research and analysis and number crunching as a "standard appraisal". Our desktop appraisals are prepared and signed by a licensed appraiser in Wisconsin.
In some cases, a physical property inspection is recommended; however, in cases where adequate market data and pictures of the property are available, a physical property walk-through/inspection may not be necessary. Desktop appraisals typically cost less and are prepared faster than a "standard appraisal" and are useful when time is of the essence and a quick appraisal is needed.
Standard Appraisal
A "standard appraisal" is not a formal or technical definition in appraisal, but is generally referred to as an appraisal where the appraiser physically inspects the subject property.
Residential Form Appraisals (Fannie Mae/FNMA)
Lenders often require appraisal reports prepared on Fannie Mae's standardized forms. ValCore Appraisal has experience completing form appraisal reports on FNMA Form 1004, FNMA Form 1004D (Appraisal Update and/or Completion Report), FNMA Form 1025, and FNMA Form 1073.
FNMA Form 1004
FNMA Form 1004 (Uniform Residential Appraisal Report) is an form appraisal report utilized for a single-unit residence or townhouse. This forms contains a section to describe the subject property, a comparable sales section, as well as the option to complete all three approaches to value. If the subject property residence is a rental property, then FNMA Form 1007 (Single-Family Comparable Rent Schedule) can be added to form 1004. A live-work property that contains less than 50% of commercial space can be completed on form 1004.
FNMA Form 1025
FNMA Form 1025 (Small Residential Income Property Appraisal Report) is an form appraisal report utilized for two-to-four-unit multi-family residence. This forms contains a section to describe the subject property, a comparable rental and sales section, and as the option to complete all three approaches to value. A mixed-use property that contains less than 50% of commercial space can be completed on form 1025.
FNMA Form 1073
FNMA Form 1073 (Individual Condominium Unit Appraisal Report) is an form appraisal report utilized for a single-unit attached or detached condominium. This forms contains a section to describe the subject property, a comparable sales section, and the option to complete all three approaches to value.
Other Valuation Services
Certified MAI Appraisal
ValCore’s Chief Appraiser is a Wisconsin Certified General Appraiser with an MAI designation. This prestigious designation is held by only a limited number of commercial real estate appraisers. The MAI designation is widely recognized as a mark of distinction and excellence in the appraisal field. It is our assurance to clients that they will receive a high-quality, unbiased, and credible real estate appraisal. Our clients benefit tremendously by the quality and credibility of obtaining an MAI appraisal.
Evaluación en Español
ValCore Appraisal's Senior Appraiser is a native (and fluent) Spanish-speaker, with the ability to clearly and effectively communicate in Spanish (as well as English).
Si usted o su cliente necesitan una evaluacion de bienes raices, por favor contactenos.
Financial and Tax Reporting for Real Estate
We can provide valuation services for financial and tax reporting purposes, estate tax/planning, purchase price allocations, and donations.
Litigation Support/Expert Testimony
We provide litigation and expert witness support for a variety of purposes, including arbitration, estate planning and probate, property tax appeals, partnership dissolution, tax donations, and zoning/land use.
Replacement Cost for Insurance Purposes
We provide credible estimates of replacement cost new of building and land improvements, using various cost estimating methods. The replacement cost new estimate could be a current date, or a retrospective (historic) date.
Non-Valuation Services
Aerial (Drone) Photography & Inspection Service
ValCore Appraisal provides aerial drone photography and videography services for residential and commercial buildings.
Property Inspection Service
Are you a distant real estate investor, mortgage lender, or other specialist that needs someone local with boots on the ground? ValCore Appraisal can provide on-site property inspections/walk-through of properties for you. We take pictures of the subject real estate, and can prepare a floor plan of the interior was well. Below are some use cases that we can help you with.
- Comparable Property Photographs (street-level)
- Construction Progress Inspection
- Cost Segregation Analysis Inspection
- Property Condition Inspection
Real Estate Property Research Service
ValCore Appraisal provides property research on residential and commercial real estate. Below are some examples of research services we can provide.
- Active Listings (Are you looking for a specific type of property? We can help you search for the specific type of property you seek.)
- FEMA Flood Map Designation
- General Property Research/Data
- Property ownership search (who is the owner of the real estate?)
- Recent Property Tax Bills and Assessment Info
Consulting Services
Market Rent Studies
A market rent study is an analysis on the most probable rent that a particular property would generate in the open market. A market rent study assists owners, property managers, investors, and leasing agents in making leasing decisions while maximizing occupancy. Market rent studies could include the typical tenant TI allowance, typical lease structure for the property type, and the most-probable tenant.
Real Estate Property Tax Consulting
Real estate property taxes in Wisconsin are often a property owner’s largest real estate-related expense. An over-assessment may lead to a higher property tax. ValCore Appraisal® can assist in assuring your real estate assessment is being based on an accurate opinion of fair market value.