I'm not a big fan of the sales comparison approach for marina appraisals. Don't get me wrong - extracting a cap rate from sales is the best way to get true market derived cap rates. But when it comes to reviewing sales comparisons, it is not an easy job because you don't have the same.
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Secrets of Reviewing Marina Appraisals – Part 6 of 8
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Posted by John Simpson
Welcome to the marina cost approach. Want to know something funny? I hope it isn't there! I'll write a blog about this in the future, but let's just say that I don't believe it to be reliable. Still, the focus here is on reviewing a cost approach, so I intend to give you the benefit.
Read moreSecrets of Reviewing Marina Appraisals – Part 5 of 8
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Posted by John Simpson
So let's turn a page or two and get to the Description of the Improvements section. We'll definitely get a mental picture because... er... this section has pictures. So we scan those first to see what we've got and to prepare ourselves for reviewing the writeup. The Buildings 
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