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What is the “Highest and Best Use”?

When completing a valuation, real estate appraisers must establish the highest and best use for the property in question. But what exactly does this mean? To establish the highest and best use of a property, one must determine whether it is possible, or even allowable...

What is the “Date of Valuation”?

When producing their reports, appraisers must determine an appropriate date of valuation. While this may sound straightforward, in reality, the date of valuation can be a nuanced detail that shapes the entire appraisal. A property’s value can be appraised as of the...

Three Common Approaches to Commercial Real Estate Appraisal

Commercial real estate appraisers use three main approaches to help derive their estimates: the Cost Approach, Direct Comparison Approach and The Income Approach. Individually, each one of these techniques has its limitations, however, when paired with other methods...