Appraisal Deconstruction

Correction to Link in Article in Valuation Magazine

There was a typo in the link to the Google Earth .kmz file in my 4th Quarter Valuation Magazine article. Here is the correct link:

http://tinyurl.com/gglexample

And here is the link to the article:

http://tinyurl.com/yfha5jn

Band of Investment Spreadsheet

I have created a Google spreadsheet for calculating the Band of Investment Method for estimating cap rates. You can download it by selecting File and Export and modify the values to suit your needs.

Band of Investment Method

Digital Tools

During my long, illustrious career, I have compiled a list of software that I consider essential to researching and creating appraisal reports (SnagIt, Google Earth, etc.); software that promotes safe computing (antivirus and firewall); and software that has saved me on more than one occasion (UndeletePlus and SmartSync). I'm cheap, so I like freeware and the only 2 pieces of softare that cost anything are SmartSync and SnagIt - about $100 total. I pay for these because I haven't found an equivalent free replacement.

I have used all of this software on my own computer and I absolutely guarantee they will work for you too!*

Enjoy.

*Not a guarantee.

Half Off Sale on Used Office Tower

The John Hancock Tower in Boston sold in December 2006 for $1.3 billion and then again in March 2009 for $660.6 million - a 50% discount - in a mezzanine debt foreclosure sale to the senior holder of it's $700 million mezz debt.

Size: 1.7 million square feet
2006 sale price: $765/sf
2009 sale price: $388/sf


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Adaptive Reuse of Vacant Circuit City

Crain's reports that Caputo's Fresh Markets purchased the vacant Circuit City at 7200 W. Grand Avenue, Elmwood Park for $5.5 million or $171 per square foot for the 32,244 square foot building.

Google Aerial and Stree View and MSN Bird's Eye View on One Web Page

I have often wanted to be able see several views of a property on the same web page instead of having to switch between multiple browser windows. I put this page together to solve that problem.

www.appraisaldeconstruction.com/map

Just enter the address and hit "Go!"

Enjoy.

They're Baaaaack!

According to LoopNet.com:

"Freddie Mac expects to launch a $1 billion securitization of multifamily mortgages in late May or early June, making it the first of what could be a quarterly series of similar deals."

NPR's Bank Primer

This American Life on NPR provides a nice primer on toxic assets, bad banks, and the like.