Before I was in insurance I was in real estate. In those days, when a construction project derailed because of an unforeseen incident like a natural disaster, we’d file a claim and someone on the other end of the equation would write a check to cover a portion of the loss or damage.
Reporting is at the heart of what appraisers do. Whatever was done, good or bad, to reach the conclusion gets communicated mostly through written appraisal reports. Here are some things to know about proposed 2020 USPAP changes currently being exposed.
As developable land becomes more and more scarce especially in the Eastern area of the state, those wanting new construction have often had to buy an existing house and gut renovate or demolish and rebuild.
As a field practitioner, I have often wondered, about the Federal National Mortgage Association (FNMA) forms not being USPAP compliant (Why aren’t FNMA Forms USPAP compliant?). I guess FNMA, either hasn’t heard of USPAP; or like most federal and state government agencies, just don’t care.
As of early 2018, the national self-storage market fundamentals are recovering following a pause in 2017 as illustrated by first quarter reports from the public REITs. Following the recession, the self-storage environment was characterized by increased acquisition of existing facilities