[Headshot of Steve Traub]
Stephen Traub, ASA

What's New!

RECENTLY, I COMPLETED an assessment update project of all (about 800) commercial and industrial properties in the City of South Portland, Maine for the assessors office using "mass appraisal" techniques. During this assignment I learned three things: 1) superregional malls are worth a lot of money; 2) pads on superregional mall property are worth a lot of money; 3) properties located around superregional malls are worth a lot of money.

Also, in my spare time, I've 1) aided an Essex County, MA municipality negotiate and settle a tax assessment appeal on a large industrial property; 2) performed a complete appraisal in narrative format on a potential land taking (eminent domain); 3) performed a complete appraisal in narrative format of a parcel of undeveloped commercial land; and 4) performed an appraisal review on another appraiser's narrative appraisal of a branch bank property.

With regard to PVA's publications, my review of Real Estate Valuation in Litigation was republished in the New England Real Estate Journal. And PVA's on-line publishing ventures continue to grow in popularity.

Property Valuation Monitor SM (PVM) is (still) available free by e-mail, simply by sending an e-mail message to straub@shore.net. The e-mail version is typically available a week or two before the print version. Our current e-mail subscription list is now up to about 100. In addition, our more colorful and graphical on-line Web version of PVM (also available a week or two before the print version) at http://www.shore.net/~straub/pvm.htm receives about 200 visits every month. And our primary Web site, Property Valuation Advisors' Information SuperDriveway at http://www.shore.net/~straub/pva.htm receives about 400 visits a month.

USPAP Physical

In other happenings, I've completed a four day course on Uniform Standards of Professional Appraisal Practice (USPAP) in Needham, MA. Appraisers are required to attend a USPAP course every few years within varying prescribed time frames in order to maintain one's designations and/or state appraisal licenses: Kinda like a regular physical, or checkup for appraisers. Anyway, I passed the physical (and they didn't even make me cough).

With regard to upcoming activity, I am about to begin a revaluation/update of all commercial property in the Town of Falmouth, ME for their assessing department. What I know so far is that Falmouth, ME is a community that seems to have more golf courses, banks, and upscale auto dealerships per capita than most places (will keep you informed).

Nonetheless, I am still seeking additional commercial and industrial property assessment equalization/update contracts from municipal assessing departments in MA, NH, and/or ME (in addition to our other valuation work). If any assessors are thinking of equalizing or updating their commercial and industrial property assessments, give me a call. I've been told a few times, there is nobody better on the planet at performing commercial and industrial assessment or update projects.

[Steve's Signature]
Stephen Traub, ASA
Publisher, PVM SM

The author, Stephen Traub, ASA, is Chief Commercial Appraiser for Property Valuation Advisors, Newburyport, MA. He is a Certified General Appraiser in NH, ME and MA. He can be reached at (508) 462-4347 or:
by e-mail: [Mailbox] straub@shore.net

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