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 2 of 8
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Posted by John Simpson
So now we know the rules that govern reviewers. Let's turn the cover page, take a quick look at the value conclusion, page past the table of contents and get right into it and how different it can be when reviewing a marina appraisal. An Introduction Is In Order The Introduction section of a marina appraisal.
Read moreThe Marina Unit of Measure Fallacy Redux
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Posted by John Simpson
It occurred to me while I was replying to a comment on my Marina Unit of Measure Fallacy blog that price per slip is even more potentially misleading than the items I list.
When does the price per slip.