An introduction is necessary as this is the first in hopefully a series of informative articles relating to current valuation issues. I am a practicing appraiser active in the industry since the mid- 1980’s. Back then, there was a “wild west” atmosphere, absent any statutory constraints, anyone and everyone with a camera and clipboard was an “appraiser”. The only distinction was a designation from one of the professional organizations. The former American Institute of Real Estate Appraisers was the oldest and widely recognized, awarding the MAI and RM designations, both of which I currently hold.
I began my career working in the high density areas of Hudson, Essex and Passaic Counties, when data was limited and difficult to obtain and qualify with any degree of accuracy. The first trial by fire was the S&L crisis of the late 1980’s which gave birth to FIRREA and USPAP. My practice expanded to the metro New York and Philadelphia markets including southern New Jersey.
At R.D. Clifford Associates, we maintain up to date data bases and we have been able to keep fees competitive by utilizing the latest technology. This is an exciting time in the industry as 2013 holds promise of steady to increased market value levels and sales and leasing volume. Please feel free to contact me regarding any real estate or business valuation concerns.