A Little Humor - 03/10/10 04:37 AM
As an element in preparing appraisal reports I cite recent sales of properties similar to the subject of my appraisal. In doing so I include photographs and descriptions of those comparable sales.
The other day I am standing outside of a WAWA Store where I stopped to get a drink and was calling my office. As people streamed out of WAWA at noon and walked passed me I told Eileen back at the office that "I made a mistake and shot the neighbor and would have to go back". Needless to said the stream of blank unconcerned faces passing by me at that … (8 comments)

Market Conditions: Washington Twp. Gloucester, NJ Date: 03/2010 - 03/09/10 08:22 PM
Market: Washington Twp. Gloucester County NJ     Date: 03/2010
An analysis of sales data from year to corresponding year indicates a change in: 
 Sales Volume from 432 units to 432 units,
 Median Sales Price From $236,660 to $230,732,
 Exposure Time: Median Days On Market from 86 to 98 (Diluted by re-listing)
 Current Inventory Accumulation is 11 Months.
The market is still in a state of oversupply however the trend in values is toward stabilization. 
 Submarkets within this area may have different results.
 Preferred Appraisers, Inc.
 We provide real estate appraisals in the
  New Jersey counties of:
  Camden, … (0 comments)

Market Conditions: Winslow Twp. Wilton's Corner Date: 03/2010 - 03/09/10 07:48 PM
Preferred Appraisers, Inc.
Frederick R. Giebel, Jr. NJ Certified General Real Estate Appraiser (42RG00094600)
Website:  http://houseval.net/
 Market: Winslow Twp. Wilton's Corner    Date: 03/2010
 An analysis of sales data from year to corresponding year indicates a change in:  Sales Volume from 63 units to 43 units,
Median Sales Price From $241,700 to $236,150,
Exposure Time: Median Days On Market from 77 to 70 (Diluted by re-listing)
Current Inventory Accumulation is 17 Months.This market is heavily influenced by "Short Sales" and foreclosures. The market is still in a state of oversupply  but the trend in values is toward stabilization. New constructions is ongoing. Submarkets … (0 comments)

Pittsgrove Twp. ; Single Family Residential Market 03/2010 - 03/09/10 11:26 AM
An analysis of sales data from year to corresponding year indicates a change in:  Sales Volume from 43 units to 41 units, Median Sales Price From $235,000 to $234,900, Median Days On Market from 85 to 95 (Diluted by re-listing) Current Inventory Accumulation is 14.6  Months. Submarkets within this area may have different results.
Values appear to have stabilized however the market is remains in a condition of oversupply.
… (0 comments)

Pennsauken: Delaware Gardens, Single Family Residential, March 2010 - 03/08/10 06:25 AM
Pennsauken: Delaware Gardens, Single Family Residential, March 2010
 An analysis of sales data from year to year indicates a change in:  Sales Volume from 94 units to 68 units, Median Sales Price From $152,000 to $149,900, Median Days On Market from 62 to 51 (Diluted by re-listing) Current Inventory Accumulation is 13 Months. Submarkets within this area may have different results.
Values appear to have stabilized but the market is still in severe oversupply and foreclosure activity is significant.
… (0 comments)

Verifying the Appraiser's Credentials - 03/07/10 10:05 AM
Bad Appraisal?               Don't Get Scammed!             Appraiser from outside the area?
 On May 1st 2009 when the Home Valuation Code Of Conduct was implemented by Fannie Mae it sent waves of appraisal orders to third party middlemen. These middlemen sliced the appraiser's fees and imposed Draconian completion deadlines on appraisers forcing many out of the business and causing others to cut corners, or in some cases engage in scams. The proliferation of the use of unlicensed property inspectors has exploded since then and so has the numbers of disgruntled agents and homeowners seeking fair and accurate appraisals. Many agents have lost income … (3 comments)

Measuring the Effect of Limited Exposure Time On Value - 03/06/10 06:29 PM
Limited Exposure Time and Value
 I was recently asked by an intern how to determine value when the client has specified the requirement for a 90 day market exposure limitation. That value may under some circumstances be defined as follows:
 Liquidation Value: the most probable price that a specified interest in real property is likely to bring under all of the following conditions:
  1. Consummation of a sale will occur within a severely limited future marketing period specified by the client.
  2. The actual market conditions currently prevailing are those to which the appraised property interest is subject.
  3. The buyer … (0 comments)

 
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Frederick R Giebel, Jr.

Sewell, NJ

More about me…

Preferred Appraisers, Inc.

Address: Washington Twp., Sewell, NJ, 08080

Office Phone: (856) 232-0971

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