by Howard Audsley, ARA | Uncategorized
One of the more important economic principles we consider in real estate appraisal is the Principle of Anticipation. The notion that markets are forward looking. To do it well, you better have a good crystal ball! Back in the Spring, I posted a few comments on...
by Howard Audsley, ARA | Opinions and Observations
In previous blogs, I’ve made reference to the subprime mess and what caused it. Since then, things are starting to happen. My natural assumption was that appraisers would be blamed again, as we were following the Saving & Loan problems in the 1980’s....
by Howard Audsley, ARA | Opinions and Observations
Some observations of a farm appraiser from Missouri: Things are about as wild out in the country as I’ve ever seen them. In addition to being a professional observer of the market, I monitor some ag news sites and the contradictions I’m seeing are huge....
by Howard Audsley, ARA | Opinions and Observations
On a previous post, I mentioned how grain prices were being bid up in anticipation of demand for biofuels, and how that was driving a higher land market. Since that post, unprecedented prices have been experienced and near chaos is present in the grain markets. Limit...
by Howard Audsley, ARA | Opinions and Observations, Uncategorized
Yesterday was a big day for headlines. New ethanol bill, and perhaps only coincidence, a new study out from Iowa State on the continued run up of farmland values in Iowa and Illinois. Rather than quoting them, I’ve put in some links to the stories. Hope they...
by Howard Audsley, ARA | Opinions and Observations
Recently joined appraisersforum.com and it has been an enlightening experience. The problems in the residential sector are widespread and pervasive. Much more so than even I suspected. Lots of thoughts and ideas over there what it means. From a historical perspective,...
by Howard Audsley, ARA | Opinions and Observations
This blog is going to serve as background for future posts on land values, but is important to establish criteria to be discussed. In answer to the question, “Is real estate a good investment”, first, it’s important to define the criteria of...
by Howard Audsley, ARA | Opinions and Observations
Lot of ink in the news these days about the mortgage problems brought on by subprime loans. What are these anyway? http://en.wikipedia.org/wiki/Subprime_lending Why would lenders or borrowers do this? Short answer is money. Who benefits from these deals? Lenders (when...
by Howard Audsley, ARA | Uncategorized
Welcome to the inaugural post on my MODIRT.COM blog. They say that all journeys start with the first step……. and here we go! Why MODIRT and why a blog? First on the MODIRT name. Short, easy to remember and very descriptive of what it is we do. In farm and...