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At Aloft, we believe in staying ahead of the curve. The landscape of real estate appraisals is evolving rapidly, and in less than 2 years, we'll be working with a completely new format.
Today, let's take a closer look at the new UAD Cost Approach section. This section introduces several changes that require careful attention from appraisers.
While Appraiser Toolkit already manages these aspects efficiently, we are continuously evolving our tools to align perfectly with these updates. Here are a few key points to consider:
1. ???????????????????? ???? ?????????????????? ???????????????? ????????: Our detailed integration with our cost service and image recognition technology will help you provide this commentary with ease.
2. ???????????????????? ???? ?????????????????? ??????: Similar to above, there are multiple ways to derive a property’s effective age, and Toolkit has the answer.
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You will now be asked to itemize each Outbuilding as a component of this approach to value. Appropriately assessing the true value of these additional improvements is critical. Not only does Toolkit allow you to do this work already, but it also makes it easy to compare the features, quality, and condition of these improvements against one another to help you make incredibly accurate adjustments.
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There is also a section in the new UAD called "Land Comparables" where you will need to detail out your support for site value. This can be a mix of vacant land sales or improved land sales where you can use extraction to derive site value. And guess what? You can now see a list of proximate vacant land sales within Toolkit to help you align your site value with those trends or use them in your appraisal for additional site value support. So next time you're in Toolkit, just click on the graph icon on the right side of the screen and see this new feature in action!
Stay tuned as we provide further insights and updates to help you navigate these changes seamlessly. At Aloft, we're committed to supporting appraisers through every transition.