Chapter 4 General Data Analysis

Chapter 4 General Data Analysis - 10/4/11 Chapter 4 -...

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Unformatted text preview: 10/4/11 Chapter 4 - Robert 10/4/11 11 Chapter 4 General Data Analysis Chapter 4 - Robert 10/4/11 Chapter 4 - Robert 10/4/11 Chapter 4 - Robert 22 10/4/11 Chapter 4 - Robert Important Words and Key Concepts • Balance of Payments • Basic Employment • Economic Base • Economic Base Analysis • General Data • Market Area • Neighborhood • Non-Basic Employment • SMSA ( Standard Metropolitan Statistical Area) Specific Data 10/4/11 33 Chapter 4 - Robert 10/4/11 Chapter 4 - Robert Organization of General Data • You will accumulate a great deal of data. Most data now is kept on a computer. A good first step is to separate the data into Specific and General Data. • Specific data is used only once unless you have another appraisal with the same basic house. • General Data is ever usable but must be timely, some must be updated on a regular 10/4/11 44 Chapter 4 - Robert 10/4/11 Chapter 4 - Robert International and National Data • International data may be useful from time to time. This data is readily available to a greater extent than ever because of the internet. • When your market area is one affected by international concerns, such as automobiles, or exported technology. Today because of better methods of persevering and rapid delivery, agriculture is getting an ever broadened arena. For example we are eating tomatoes from Mexico, fruits from Nicaragua. These could 10/4/11 55 Chapter 4 - Robert 10/4/11 Chapter 4 - Robert The National Economy • The National Economy is important to us because of the political climate with loans, and interest rates. Income taxes, a tax credit. • Consumer price index, new aerospace or defense contracts can have a huge impact on the Southern California economy. • The rate that the United States is absorbing imports from the Pacific Rim. 10/4/11 66 Chapter 4 - Robert 10/4/11 Chapter 4 - Robert Regional and State Economic Data • Regional Economic Data is important because it can affect a region or area such as Los Angeles. • California the state is very broad in its’ economic impact and diversification. The great San Joaquin Valley provides approximately 30% of the produce for the U.S., while further North we have almost no economy at all. 10/4/11 77 Chapter 4 - Robert 10/4/11 Chapter 4 - Robert 10/4/11 88 Marke t Area Chapter 4 - Robert 10/4/11 Chapter 4 - Robert Definition of Market Area • Contained in the USPAP from 2006 at Standards Rule 1 – 3 which states: • “When necessary for credible assignment results in developing a market value opinion, an appraiser must: • a. Identify an analyze the effect on use and value of existing land use regulations, economic supply and demand, the physical adaptability of the real estate and market area 10/4/11 99 Chapter 4 - Robert 10/4/11 Chapter 4 - Robert Market Area • From The Appraisal of Real Estate 12th Edition, Appraisal Institute, Chicago, IL; • “In this addition . . . (the term) market area will be used for specific reference to the local...
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This note was uploaded on 10/04/2011 for the course REAL ESTAT 40 taught by Professor Robertrooks during the Winter '08 term at El Camino.

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Chapter 4 General Data Analysis - 10/4/11 Chapter 4 -...

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