APPRAISAL GRAMMAR 101APPRAISAL GRAMMAR 101

““Huukt on Fonnix,”Huukt on Fonnix,”

reelley wirked fir reelley wirked fir mee!mee!

THE VALUATION THE VALUATION PROCESSPROCESS

Definition of the Problem

Identification of intended users

Intended use of appraisal

Purpose of appraisal

Date of opinion of value

Identification of property

characteristics

Extraordinary assumptions

Hypothetical conditions

Land Value Opinion

Scope of the Work

Data Collection and Property DescriptionMarket Area Data Subject Property Data Comparable Property Data

Reconciliation of Value Indications and Final Opinion of Value

Report of Final Value

Application of the Approaches to ValueCost Sales Comparison Income Capitalization

Data AnalysisMarket Analysis Highest & Best Use Analysis

REPORT OF FINAL VALUE

USPAPUSPAP

Standard 2-Real Property Appraisal, Reporting

“In reporting the results of a real property appraisal, an appraiser must communicate each analysis, opinions, and conclusion in a manner that is not misleading.”

APPRAISAL GRAMMAR 101APPRAISAL GRAMMAR 101

A DOR appraiser presents a credible A DOR appraiser presents a credible opinion of value that is well written and opinion of value that is well written and supported by market data. supported by market data.

A county PA will be more easily A county PA will be more easily convinced if the report is well written.convinced if the report is well written.

APPRAISAL GRAMMAR 101APPRAISAL GRAMMAR 101

As appraisers, we often write the way As appraisers, we often write the way we speak.we speak.

Our writing must be clear, logical, and Our writing must be clear, logical, and easy to understand.easy to understand.

Professional writing should be void of Professional writing should be void of slang, clichés, contractions, and slang, clichés, contractions, and colloquialismscolloquialisms..

APPRAISAL GRAMMAR 101APPRAISAL GRAMMAR 101

General principles of grammar we will General principles of grammar we will discuss are:discuss are:

Redundant wordsRedundant words Prudent use of wordsPrudent use of words Common misspelled wordsCommon misspelled words Commonly misused wordsCommonly misused words Overused hedge wordsOverused hedge words Expression of numbersExpression of numbers Proper punctuationProper punctuation CapitalizationCapitalization Writing tipsWriting tips Proof readingProof reading

APPRAISAL GRAMMAR 101APPRAISAL GRAMMAR 101

Amateurs complicate…..Amateurs complicate…..Professionals simplifyProfessionals simplify

According to Alan Blankenship, Ph.D.,According to Alan Blankenship, Ph.D., author of The Appraisal Writing Handbookauthor of The Appraisal Writing Handbook,,

REDUNDANT WORDSREDUNDANT WORDS

Close proximityClose proximity Combined togetherCombined together And alsoAnd also Exactly the sameExactly the same And etc.And etc. My own personal opinionMy own personal opinion Rectangular in shapeRectangular in shape Refer backRefer back Rough estimateRough estimate Sum totalSum total Surrounded on all sidesSurrounded on all sides Valuable assetValuable asset

PRUDENT USE OF WORDSPRUDENT USE OF WORDS

Why use several words when few will do. Why use several words when few will do. Here are some suggestions.Here are some suggestions.

Being of the opinion that, Being of the opinion that, replace with,replace with, I believe. I believe. Due to the fact that, Due to the fact that, replace with,replace with, since or because since or because For the purpose of, For the purpose of, replace withreplace with,to or for.,to or for. Give consideration to, Give consideration to, replace withreplace with,consider.,consider. Has a tendency Has a tendency toto, , replace with,replace with, often. often. Present time, Present time, replace with,replace with, present or now. present or now. With regard to, With regard to, replace with,replace with, concerning or about. concerning or about.

PRUDENT USE OF WORDSPRUDENT USE OF WORDS

A sufficient quantity of, A sufficient quantity of, replace with,replace with, enough. enough. Place emphasis on, Place emphasis on, replace with,replace with, emphasize. emphasize. In view of the fact, In view of the fact, replace with,replace with, because. because. Inasmuch, Inasmuch, replace with,replace with, because. because. Make use of or utilization, Make use of or utilization, replace with,replace with, use. use. Is an indication that, Is an indication that, replace with,replace with, indicate. indicate. Due to the fact that, Due to the fact that, replace with,replace with, because. because.

APPRAISAL GRAMMAR 101APPRAISAL GRAMMAR 101

SPELL CHECK!SPELL CHECK!

COMMON MISSPELLED COMMON MISSPELLED WORDSWORDS

Stratum not stratamStratum not stratam Tenant not tenentTenant not tenent Duct not ductedDuct not ducted Quantity not quanityQuantity not quanity Comparable not comprableComparable not comprable Masonry not masonaryMasonry not masonary Misimprovement is not a wordMisimprovement is not a word Stratum is singularStratum is singular Strata is pluralStrata is plural Complement vs ComplimentComplement vs Compliment

COMMONLY MISUSED COMMONLY MISUSED WORDSWORDS

Comparable is not a noun.Comparable is not a noun. Actuary is one calculates insurance risk and premiums.Actuary is one calculates insurance risk and premiums. Stratum is singularStratum is singular Strata is pluralStrata is plural Complement vs ComplimentComplement vs Compliment Comparable is not a noun.Comparable is not a noun. Actuary is one who calculates insurance risk and Actuary is one who calculates insurance risk and

premiums.premiums. It’s vs ItsIt’s vs Its Sale price vs Sales priceSale price vs Sales price

Affect vs EffectAffect vs Effect Capitol vs CapitalCapitol vs Capital Principle vs PrincipalPrinciple vs Principal Further vs FartherFurther vs Farther Utilize vs useUtilize vs use Whether Whether (or not)(or not) Either Either (or)(or) Quit Claim vs Quick ClaimQuit Claim vs Quick Claim

COMMONLY MISUSED COMMONLY MISUSED WORDSWORDS

LEGALEZELEGALEZE

Try not to sound like a lawyer and use simple words. Try not to sound like a lawyer and use simple words.

Avoid words like:Avoid words like:

AppraisementAppraisement PredicatedPredicated HeretoforeHeretofore

WORDS TO AVOIDWORDS TO AVOID

UtilizeUtilize Above-referencedAbove-referenced ConsummateConsummate Finalize Finalize VeryVery and hereinand herein

OVERUSED HEDGE WORDSOVERUSED HEDGE WORDS

AppearAppear SeemSeem LikelyLikely ProbablyProbably Is consideredIs considered Appraiser’s opinionAppraiser’s opinion Is deemedIs deemed Is reported to beIs reported to be

EXPRESSION OF NUMBERSEXPRESSION OF NUMBERS

NumbersNumbers 1-9 should be written as words. 1-9 should be written as words. Fractional numbers are easily read as decimals. Fractional numbers are easily read as decimals.

Example 1 3/4 acres should be 1.75 acresExample 1 3/4 acres should be 1.75 acres Decimals less than one should begin with a “0.” Decimals less than one should begin with a “0.”

Example 0.333Example 0.333 Never begin a sentence with a numberNever begin a sentence with a number If several numbers are expressed in the same If several numbers are expressed in the same

paragraph, write them all numerically.paragraph, write them all numerically.

PUNCTUATIONPUNCTUATION

HyphensHyphens: Two or more words used as a modifier and : Two or more words used as a modifier and precedes a noun, you must hyphenate.precedes a noun, you must hyphenate.

one-story houseone-story house 10-mile radius10-mile radius 900-square-foot building900-square-foot building average-to-good condition.average-to-good condition. nine-acre parcelnine-acre parcel CommasCommas: Use commas to separate a series of : Use commas to separate a series of

descriptors, or at a place in a sentence where you descriptors, or at a place in a sentence where you would take a breath.would take a breath.

PUNCTUATIONPUNCTUATION

Examples: Examples: We have inspected small, We have inspected small, average, and large-sized homes.average, and large-sized homes.

The subject property is in a flood zone, The subject property is in a flood zone, however, there was no indication of however, there was no indication of flooding.flooding.

PUNCTUATIONPUNCTUATION

ApostrophesApostrophes: When indicating a singular possessive form : When indicating a singular possessive form of a word, add an of a word, add an ‘s‘s to the word. to the word.

Example: John’s car, a man’s suitcase, the lion’s mane, or Example: John’s car, a man’s suitcase, the lion’s mane, or Joel’s officeJoel’s office

Market’s reactionMarket’s reaction Building’s foundationBuilding’s foundation When indicating a plural possessive form, add s’.When indicating a plural possessive form, add s’. Example: Example: the Corbett’s new home, homeowners’ the Corbett’s new home, homeowners’

association, or DOR appraisers’ assignmentsassociation, or DOR appraisers’ assignments AcronymsAcronyms typically require an typically require an SS with no apostrophe in the with no apostrophe in the

plural.plural.

PUNCTUATIONPUNCTUATION

Example: GIMs, PRCs, NOIs, and OARsExample: GIMs, PRCs, NOIs, and OARs PeriodsPeriods should be placed within parenthesis or should be placed within parenthesis or

quotation marks. quotation marks. Example: Example: Jack McKinnon recently said, “Those DOR Jack McKinnon recently said, “Those DOR

senior appraisers are the greatest.”senior appraisers are the greatest.”

CAPITALIZATIONCAPITALIZATION

Specific areas or regions should be capitalized. Specific areas or regions should be capitalized. Why do Why do people in the North talk funny? Florida is located in the people in the North talk funny? Florida is located in the South.South.

Non-specific directions are not capitalized. Non-specific directions are not capitalized. Comparable Comparable Sale One is located one mile to the northSale One is located one mile to the north..

When making reference to a city, When making reference to a city, the city of the city of Tallahassee, Tallahassee, city is not capitalized.city is not capitalized.

Land Sale OneLand Sale One, or , or Comparable Sale TwoComparable Sale Two are capitalized are capitalized

The word The word “subject”“subject” is not capitalized is not capitalized..

CAPITALIZATIONCAPITALIZATION

These are always capitalized.These are always capitalized.

City names and countiesCity names and counties

Business namesBusiness names

Individual namesIndividual names

WRITING TIPSWRITING TIPS

Avoid flowery and excessive language.Avoid flowery and excessive language. Write concisely, but thoroughly Write concisely, but thoroughly Focus on the facts and the market, not a recollection Focus on the facts and the market, not a recollection

of the appraisers’ activities.of the appraisers’ activities. Avoid unnecessary hedgingAvoid unnecessary hedging Know your conclusion before writingKnow your conclusion before writing Reveal logical thought process and analysis.Reveal logical thought process and analysis. Lead the reader methodically to the conclusion.Lead the reader methodically to the conclusion. The reader should be able to predict the conclusion The reader should be able to predict the conclusion

from the discussion.from the discussion.

WRITING TIPSWRITING TIPS

Realize the writer knows more than the reader.Realize the writer knows more than the reader. Array data in logical orderArray data in logical order Organize the discussion logicallyOrganize the discussion logically Avoid mathematically derived conclusionsAvoid mathematically derived conclusions

WRITING TIPSWRITING TIPS

FINAL RECONCILIATIONFINAL RECONCILIATION Discuss the three approaches to valueDiscuss the three approaches to value Discuss the quality and quantity of market dataDiscuss the quality and quantity of market data Indicate the appraiser’s level of confidence in Indicate the appraiser’s level of confidence in

applicable approachesapplicable approaches Lead the reader methodically to a conclusionLead the reader methodically to a conclusion

PROOF READINGPROOF READING

Remember spellchecker!Remember spellchecker!

Read your work in printed form, not on the computer Read your work in printed form, not on the computer monitor.monitor.

When using Word pay attention to the red and green When using Word pay attention to the red and green underlinesunderlines

Exchange reports with a coworker.Exchange reports with a coworker.