{"id":15761,"date":"2014-10-08T13:20:08","date_gmt":"2014-10-08T17:20:08","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2014\/10\/technology-improves-access-to-data-for-appraisers.html"},"modified":"2014-10-08T13:20:08","modified_gmt":"2014-10-08T17:20:08","slug":"technology-improves-access-to-data-for-appraisers","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2014\/10\/technology-improves-access-to-data-for-appraisers\/","title":{"rendered":"Technology Improves Access To Data For Appraisers, But Legwork Is Still Needed"},"content":{"rendered":"
\n
\"eric-sterling-wm.jpg\"\n<\/div>\n
Eric Sterling of the Sterling Appraisal Co. in Mechanicville takes a measurement to determine the square footage of a structure, part of compiling an overall appraisal report\n<\/div>\n<\/div>\n

BY JILL NAGY<\/p>\n

The axiom goes: The only things certain
\nin this world are death and taxes. That
\nmakes for steady work for real estate appraisers
\nlike David Fontana of Armstrong
\nAppraisals in Clifton Park, whose work is
\nconcentrated on legal fights, including
\nvaluing for estates and real property tax
\ndisputes.
\nFor mainly residential appraisers, he
\nsaid, things have been slow but, for firms like his, “it always seems to stay steady.”<\/p>\n

Eric Sterling of the Sterling Appraisal
\nCo. in Mechanicville, agreed. His focus
\nis also largely on commercial property:
\npeople who want a valuation before a sale
\nand “attorney work” (divorce, estates,
\ntaxes). Although he does work for a few
\nlenders, he finds there has been less work
\nrelated to residential bank loans.
\nComputer technology has had a great impact on the appraisal business, both of
\nthem noted.<\/p>\n

“It is not a social media type of business,”
\nFontana said, because so much of
\nthe work is confidential. He also prefers to
\ncreate his own report forms and documents
\nand not rely on what is available online.
\nHowever, the wealth of data available online
\nhas made his work a lot easier.<\/p>\n

“I can look up and find out about any
\nproperty in the United States without having
\nto drive around to assessors’ offices to
\nlook at tax maps and the like. I can cover
\na much greater area,” he said.<\/p>\n

He estimated that Saratoga County
\nproperties constitute about 25 percent
\nof his work. The rest is all over the state.<\/p>\n

Sterling said “it would be nice if we had
\ntechnology that helped us do our work
\nfaster.” But he also revels in the wealth of
\ndata available online. Some of it, available
\nfree to all, is only mildly useful, because no
\none verifies the data or identifies special
\ncircumstances in a sale. Data like building
\nsizes are not always accurate.<\/p>\n

Sterling subscribes to several professional
\ndatabases that are more reliable
\nand he may go directly to a town or county
\nto buy data. He also finds the data real
\nestate agents post online for the Multiple
\nListing Service “a great resource.”<\/p>\n

While he can do a “summary appraisal”
\nwithout personally inspecting the property,
\nFontana said, a full appraisal report
\nrequires at least a drive-by inspection and
\nusually a closer look.<\/p>\n

Armstrong Appraisals, where Fontana
\nis the principal, is one of the oldest real
\nestate appraisal firms in New York state. It
\nwas founded in 1951 by Robert Armstrong.
\nFontana joined the firm in 1994 and bought
\nthe business in 1997.<\/p>\n

He is the only appraiser with the firm
\nbut several sub-contractors also do work
\nfor the company.<\/p>\n

“We are getting more and more clients,”
\nhe said. “We don’t have to advertise. There
\nare typically one or two calls a day from
\npeople referred to the firm.”<\/p>\n

Sterling, also a solo, has been in the appraisal
\nbusiness for more than 15 years and
\nhas had his own company for five. He works
\nout of a home office in Mechanicville. He
\ndoes appraisals primarily in Saratoga,
\nWashington and Warren counties.<\/p>\n

He said “the area that we are in was
\npretty lucky” to escape much of the impact
\nof the recent economic recession. Similarly,
\nthere has been less of a boom than
\nsome people predicted from the entrance
\nof worldwide microchip manufacturer
\nGlobalFoundries to the area.<\/p>\n

“There was a lot of speculation in the
\nbeginning and we were very lucky to get
\nthe development,” he said. “But I think
\nsome folks got carried away” estimating
\nits impact.<\/p>\n

Sterling has experienced a recent
\nuptick in business, but not enough for
\n“substantial hires.” Before the 2008-09
\nmarket slump, when the real estate market
\nwas very busy, he hired help, but not
\nsince then.<\/p>\n

He also pointed out that real estate
\nappraisal is “a very tough business to get
\ninto,” requiring a college degree, three
\nyears of mentoring, and examinations,
\namong the licensing requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"

Eric Sterling of the Sterling Appraisal Co. in Mechanicville takes a measurement to determine the square footage of a structure, part of compiling an overall appraisal report BY JILL NAGY The axiom goes: The only things certain in this…<\/p>\n","protected":false},"author":121,"featured_media":20323,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[57,108],"class_list":["post-15761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-residential-real-estate","tag-business-news","tag-real-estate"],"yoast_head":"\r\nTechnology Improves Access To Data For Appraisers, But Legwork Is Still Needed - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2014\/10\/technology-improves-access-to-data-for-appraisers\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Technology Improves Access To Data For Appraisers, But Legwork Is Still Needed - 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