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Archive for October, 2009

October 29, 2009 Know the Value of Your Machinery and Equipment Before an Auction

While the economy is showing signs of improvement, there are still a number of companies that are being forced to close their doors, which in many cases includes liquidating their equipment and machinery assets. Oftentimes, the most quick, efficient way to do this is through auction. When considering an auction, a company should first contact [...]

October 27, 2009 The Pension Protection Act of 2006

The Pension Protection Act of 2006, signed into law in August 2006, was designed to help Americans protect and grow their retirement savings. The act includes discussion about tax incentives and regulations for pension and charitable giving reform. Those who engage in charitable giving are eligible for tax deductions, and there are rare cases in [...]

October 22, 2009 Scope of Work

The USPAP (Uniform Standards of Professional Appraisal Practice) has always required that real estate appraisers show the scope of work required for credible results. But in recent years, it was found that appraisers did not fully understand this process, so USPAP was updated in 2006 with a new scope of work rule. The rule requires [...]

October 20, 2009 Income Approach

This is the third installment of our series on the various methods used by real estate appraisers to determine property value. Last week, we discussed the sales comparison approach and the cost approach. This post will focus on the income approach. The income approach generally is used to estimate the value of income-producing properties, including [...]

October 15, 2009 The Cost Approach

Today is our second installment in our series about the different methods used by real estate appraisers to determine property value. On Tuesday, we discussed the sales comparison approach. Today, we’ll cover the cost approach. To determine a property’s value using the cost approach, an appraiser would first estimate the value of the property if [...]

October 13, 2009 The Sales Comparison Approach

In real estate appraisal, there are three methods used to determine the value of a property: sales comparison approach, cost approach, and income approach. This blog will cover the sales comparison approach. The sales comparison approach is based on the principle of substitution, meaning a prospective buyer would not pay more for a property than [...]

October 8, 2009 Family-Run Businesses Need to Think Out of the Box

Despite reports that the economy may be on the rebound, a recent Wall Street Journal article discusses how the economic downturn has caused many family businesses to shut their doors. Although the article says that it is difficult to quantify the number of family-owned businesses that have been forced to close, experts believe that these [...]

October 6, 2009 Succession Plans

In July, we posted an article on succession planning for family businesses and in May, we discussed exit strategies. When done properly, succession planning can help company morale as senior members of a company mentor and foster the growth of younger members and pass on their knowledge. But beyond the importance of succession planning on [...]

October 1, 2009 Uniform Residential Appraisal Report

After a real estate appraiser performs an appraisal of a property, he or she will fill out a Uniform Residential Appraisal Report. A Uniform Residential Appraisal Report (URAR) is the most common real estate appraisal form. Use of the URAR ensures standard reporting and analysis of single family dwellings or buildings in a planned unit [...]