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Re: Anyone with a recent appraisal of >2U Downtown multifamily?
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Home away from home
 
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On the standard Freddy Mac form there's 3 methods, sales comp, cost, and rents. The rent method uses the GRM to calculate. Below is from an appraisal I had done for a Heights refi, what do you think the odds were that all 3 methods would be so close? 
Posted on: 2016/1/31 19:49
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Re: Anyone with a recent appraisal of >2U Downtown multifamily?
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Home away from home
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If you have a recent appraisal i think they detail the value using different approaches and select the most appropriate.
Some factor of rents generated compared to the area but im not aware of the specific number. I am in the same boat with 2 fam downtown and definitely valued more for rental potential.
Posted on: 2016/1/31 16:24
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Re: Anyone with a recent appraisal of >2U Downtown multifamily?
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Home away from home
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Which is exactly why I'm asking about GRM, a common method used to arrive at value via the rent roll.
Posted on: 2016/1/30 18:50
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Re: Anyone with a recent appraisal of >2U Downtown multifamily?
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Home away from home
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Comps arent a good estimate when it comes to rental property values
Posted on: 2016/1/30 5:17
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Re: Anyone with a recent appraisal of >2U Downtown multifamily?
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Home away from home
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Stand down, this has absolutely nothing to do with assessment. Just want to know what GRM appraisers are using in Brownstone DTJC. And the answer is no, all assessments are products of the multiplier in use at the time of assessment. in 2014 that reduced a new assessment to 31.24% market value.
Posted on: 2016/1/28 23:36
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Re: Anyone with a recent appraisal of >2U Downtown multifamily?
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Home away from home
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Are there any properties in Jersey City that are assessed at current market value ?
Posted on: 2016/1/28 22:59
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Get on your bikes and ride !
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Anyone with a recent appraisal of >2U Downtown multifamily?
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Home away from home
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I'm wondering what the Gross Rent Multiplier used in the "income approach" was. As I understand it, as number of units goes up the more weight they put to income vs comps. I have several Heights appraisals ca 2012 that used monthly GRM's from 83-104, but those appraisals were suspect, and so are those numbers.
Posted on: 2016/1/28 18:39
Edited by brewster on 2016/1/28 19:09:08
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