Custom Home Appraisal, Single Family Home Appraisal \u2013 Single family homes are usually detached housing, that is on a platted lot. These homes are usually located within a subdivision where lots are subdivided, and each lot owner has fee simple ownership interest. By definition, this type of home is occupied by a single family or consists of one dwelling unit or suite. These homes are \u2018detached\u2019 \u2013 meaning that they do not share a common wall with other houses, which excludes duplexes, townhomes, and other types of homes.<\/p>\n
LOGAN has a residential appraisal team that specializes in the valuation of homes in resort residential areas. Often, these homes are owned by US citizens that require financing, property trusts, divorce settlements, or for the purchase or sale of such properties. The Mexico and Costa Rica offices generally focus on this type of work, as the countries have a significant tourism draw \u2013 and have tourist and vacation cities that attract foreign, second home buyers.<\/p>\n
Some of the resort cities in both Mexico and Costa Rica are growing quickly \u2013 and have benefitted from the new master planned community concept which is taking hold in Latin America. Such communities provide increased security, superior infrastructure, and a high level of amenities and maintenance. Most of the appraisal work completed by the LOGAN residential valuation team is located within these master planned communities.<\/p>\n
Cottage \u2013 typically a four-room home, with two rooms on each side of a main corridor.<\/p>\n
Bungalow \u2013 medium or large freestanding home in the suburbs.<\/p>\n
Villa \u2013 large home that can be used as a retreat or vacation home. Usually found in suburbs or a vacation location, on a large lot.<\/p>\n
Mansion \u2013 a very large home on a very large lot or estate. Usually, mansions have many more rooms than a typical home, that include specialty rooms.<\/p>\n
Cost \u2013 the cost approach is relevant to the valuation of custom homes as a supporting method to value. This is estimated using cost manuals that are available in the market and through conversations with builders and market participants.<\/p>\n
Sales comp or market approach \u2013 this is the principal method for valuing single family residential assets. Market data is difficult to gather in Latin America, usually this information must be gathered first-hand.<\/p>\n
Income capitalization \u2013 this may be a supporting method to value as homes are sometimes rented and the value is supported by this income. In tourist markets in Latam, this figure may be skewed and hard to pinpoint as occupancy varies depending on the management of the unit. In short, some units have higher occupancy, and are rented on a nightly or weekly basis, with competent management.<\/p>\n
DCF \u2013 this method is not typically employed with single family residential assets.<\/p>\n
General<\/p>\n
Social trends such as demographics, population migration, and birth and death rates impact the following: employment and wages, price levels, costs, and available land. Also, inventory and occupancy rates, and disposable income.<\/p>\n
Economic conditions \u2013 unemployment, inflation, growth rates<\/p>\n
Governments laws and regulations \u2013 zoning, taxes, building and health codes. National, state and local police policies.<\/p>\n
Environmental status \u2013 rivers, mountains, lakes, oceans, and other geographic barriers.<\/p>\n
Specific<\/p>\n
General location \u2013 what country, city, and municipality is the property located.<\/p>\n
Specific location \u2013 neighborhood, master plan, and location within the community<\/p>\n
Size \u2013 the measurement of the property and site<\/p>\n
View \u2013 views can be of golf courses, lakes, the ocean, beaches, and other appealing elements.<\/p>\n
Building class \u2013 the level of construction employed to build the property. Class A is considered to be the highest level.<\/p>\n
Amenities \u2013 neighborhood centers, golf courses, shopping centers, and other services that are not located on the property itself.<\/p>\n
Comparable sales information \u2013 difficult to gather in Latin America due to the lack of MLS systems, and tendency to under-report sales values to avoid taxes. Many comparable sales are gathered through conversations with market participants, and offers from real estate brokers<\/p>\n
Inspection information \u2013 the physical inspection of the property is key. Appraisers visit the subject property and perform a \u2018walk-through\u2019 of the property, taking photos, measuring areas, and verifying the general quantity of the rooms, and quality of finishings.<\/p>\n
Form Reports \u2013 Fannnie Mae, Freddie Mac, FHA, Narrative Format (shown below)<\/p>\n
Colombia<\/p>\n
Cartagena<\/p>\n
San Andres<\/p>\n
Santa Marta<\/p>\n
Mexico<\/p>\n
Cabo San Lucas<\/p>\n
Cancun, Riviera Maya<\/p>\n
Tulum<\/p>\n
Puerto Vallarta<\/p>\n
Playa del Carmen<\/p>\n
Peru<\/p>\n
Lima, Santa Cruz Lima, Miraflores<\/p>\n
Lima, San Isidro<\/p>\n
Central America<\/p>\n
Papagayo<\/p>\n
Panam\u00e1<\/p>\n
Tamarindo<\/p>\n
Guanacaste<\/p>\n
Bocas del Toro<\/p>\n
Punta Mita<\/p>\n","protected":false},"featured_media":0,"template":"","format":"standard","meta":[],"service-category":[166],"class_list":["post-13860","services","type-services","status-publish","format-standard","hentry","service-category-division-residencial-resort-y-propiedades-de-lujo"],"_links":{"self":[{"href":"https:\/\/mcp.dijumedia.net\/es\/wp-json\/wp\/v2\/services\/13860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcp.dijumedia.net\/es\/wp-json\/wp\/v2\/services"}],"about":[{"href":"https:\/\/mcp.dijumedia.net\/es\/wp-json\/wp\/v2\/types\/services"}],"wp:attachment":[{"href":"https:\/\/mcp.dijumedia.net\/es\/wp-json\/wp\/v2\/media?parent=13860"}],"wp:term":[{"taxonomy":"service-category","embeddable":true,"href":"https:\/\/mcp.dijumedia.net\/es\/wp-json\/wp\/v2\/service-category?post=13860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}