Minnesota Real Estate Appraisal Services Reports on Hot Real Estate Values This Summer

Minnesota Real Estate Appraisal Services, a company based in Roseville, MN, wants to report that the heat of summer and post pandemic relief are pushing up real estate market values. Optimism appears to be taking hold and trends continue in apartment and office space albeit in different directions. The retail market is waiting to see but positive signs seem to be emerging. Amazonian space requirements have put a premium on warehouse space in the local market as the megafirm aims to capture the last mile access advantage in the Minneapolis St Paul metropolitan market. As things change, these are reflected in the real estate markets. Minnesota Real Estate Appraisal Services keeps it all straight so that when people need an accurate real estate valuation they would be able to provide it.

Minnesota Real Estate Appraisal Services offers appraisal services for real estate values that are important and can be used in legal proceedings. Clark Goset, real estate appraiser and owner of the company, says, “The need for real estate appraisals has become increasingly common in legal proceedings. Considering today’s legal climate, to win settlements or court decisions requires the help of highly skilled professionals. We have tremendous experience in litigation support and expert witness services. Clients who have used our expert testimony services include government agencies, financial institutions, legal and accounting firms, tax entities, and many other businesses.”

The company that provides legal appraisal services has experience in helping with several legal issues, including: divorce, partnership, marital dissolution, taxation issues etc.; estate settlement; easement disputes; stigmatized property condemnation and eminent domain cases; construction defect, or physical obsolescence; bankruptcy, lean striping etc.; title flaws; litigation support; insurance disputes; loan underwriting; municipal assessment; relocations; eminent domain takings; estates and probate; retrospective appraisals; and foreclosures.

The company is committed to remaining unbiased in performing their services. But they can consult with the client and offer advice about the relative strength of an appraisal presented by opposing parties. They can also perform additional research and analysis to support or discredit assumptions or conclusions. With their experience and proven track record they are ready to take on any type of appraisal assignment and their appraisal values stand up under the most severe scrutiny.

Minnesota Real Estate Appraisal Services has performed residential appraisals ranging from smaller city properties to the complex multi-million dollar properties that are located on Lake Minnetonka. They have appraised estates holding one or more properties. Residential properties, including relocation properties, comprise about 30% of their total yearly project list.

They can provide several different appraisal reports and formats for appraising residential properties. The type and complexity of the appraisal is a determinant of the appraisals usage. They offer two types of written reports: complete, self-contained report; and summary report.

The various forms of form reports that they can provide are the: Uniform Residential Appraisal Report (URAR)-1004; Employee Relocation Form (ERC); Individual Condominium Unit Appraisal (1073); and Residential Income, Multiple Family (1025).

The URAR is typically used for single-family residential (including townhome) units, and is one of the more complete forms for appraisal includes the physical inspection of the interior and exterior of the property, and the exterior of each comparable. This form has the option of using a summarized cost and income approach. The URAR offers a uniform format for reporting site, neighborhood, and improvement descriptions. Exhibits include front, rear, and street scene photo(s) of the property; a street map depicting the location of the subject property and comparables; an exterior and interior building sketch of the subject with room locations identified; and front photo(s) of the comparable sales.

The ERC is a full appraisal that is typically used by relocation companies and transferees. It covers information similar to the URAR such as property information and comparables but with the addition of competitive listings (on market comparables).

The Individual Condominium Unit Appraisal report form is designed to report an appraisal of a specific unit in a condominium project or a condominium unit in a planned unit development (PUD) based on an interior and exterior inspection of the subject property. This form is not designed to report an appraisal of a manufactured home or a unit in a cooperative project.

Those who require real estate appraisal services can check out the Minnesota Real Estate Appraisal Services website at https://www.mnreappraisals.com/, or contact them through phone or via email.