Showing posts from August, 2017

Hurricane Harvey Impacting Texas


How Do Appraisers Determine Depreciation?

The other day we were asked a question about what the percentage of depreciation would be for a foundation on a home.  Unfortunately, there is not a simple answer to that question and I couldn't just give a quick percentage number for determining depreciation for the foundation. 

When appraisers are performing an appraisal, they will observe the property being appraised. Appraisers become very skilled at observing and noting items and their condition.  My husband and I are both real estate appraisers.  Recently, we were at a restaurant he noted some interesting items that were obscurely posted on the back wall that we found entertaining.   I told him he had to be the most observant man I know and his response was, "Well, I am an appraiser".  True! He is by far the expert when it comes to observation and the field work part of the appraisal process.  That said, appraisers will observe different types of depreciation when at the property being appraised.  Did you know there…