Q. Are you a Certified Appraiser?

A. Yes. I attained my Market Value Appraiser (MVA-Residential) Designation from the Canadian Real Estate Association (CREA), in 1991. This designation uniquely stipulates that the Appraiser, in addition to Professional Appraisal Activity, is required to be active in the ‘transactional side’ of the real estate market- based on the premise that direct activity in the real estate market will lead to an enhanced understanding of Fair Market Value of the subject property in real time.

I’ve continued to be an active Realtor since becoming licensed by the Real Estate Council of Ontario (RECO) in 1980. I have been a member of the Toronto Regional Real Estate Board (TRREB) since 1978. This has allowed me to remain abreast of current real estate market listings and sales, in real time.

Q. What are the Main uses of Your Appraisal Reports?

A. The main uses of these appraisals are:

Capital Gains Tax Calculation
Family Law / Divorce / Asset Distribution
Estates / Probate
Estate Planning
Historical Values
Internal / Family / Private Sales

Q. What do your Residential Appraisals Cost ?

Single Family Residential: From $595.00.
Condo/Co-op/Co-ownership: From $495.00
Additional Retrospective Dates: From $295.00

Q. What sets your appraisals apart from Others?
A. My appraisals are well-researched, thoughtful, and easy to understand. They are completely impartial and clearly show the property's Fair Market Value (FMV). The appraisal report is unique and goes beyond standard forms, allowing for specific details through summaries and charts. I manage all parts of the research, analysis, and conclusions myself, unlike many companies that use trainees for property inspections, data research, and report writing.

Q. What steps do you take when appraising a home?
A. We evaluate a property's value through careful inspection and various perspectives. This includes analyzing local market activity, looking at yearly and monthly trends, and referencing the Home Price Index (HPI). We examine the neighborhood and community markets, considering the MLS District and nearby areas. With over 40 years of experience in the Toronto real estate market, we know where to find relevant comparable areas. Typically, we review 25-50 properties at first. After this, we narrow it down to the most similar and recently sold properties for a Direct Sales Comparison Approach to Value.

Q. What is "Fair Market Value"?
A. Fair Market Value (FMV) is the likely price a property would sell for in an open market, under fair conditions. It assumes both the buyer and seller are knowledgeable, and the price isn't influenced by unusual factors. This definition includes a sale happening on a specific date and the transfer of ownership under conditions where:

Both buyer and seller are motivated.
Both parties are well-informed.
There is a reasonable time for the property to be on the market.
Payment is made in cash or similar financial terms.
The price reflects the usual market value without special financing or discounts.ssociated with the sale.

Q. Can you provide Fair Market Value for a past date?
A. Yes. The principles of Fair Market Value apply, even for past dates. My database goes back to 1971, and we often have historical photos of the property. Sometimes, we are asked to appraise a property for up to five different dates.

Q. Can we request a specific high or low value?
A. No. I cannot accept the assignment if there's any discussion about value before completing the appraisal. All work is strictly neutral and unbiased. I am hired when clients need to know the fair market value as of a specific date. My ethical standards follow the Appraisal Institute of Canada's Canadian Uniform Standards of Professional Appraisal Practice. My appraisals are used in mediation, ensuring that no agendas or side-discussions influence the process.

Q. Distinguish between your “Appraisal” and a “Free Evaluation”?

A. We all receive real estate promotions in our doors offering "free, no obligation appraisals". Agents are simply doing their jobs and hoping for your business now or in the future.
In that situation, the agent typically supplies an informal opinion of value and a marketing plan for your consideration. It is sometimes thin on analysis and context, Agents can provide reliable opinions of value even though they are not recognized as appraisers.
Typically, legal situations require the work to be done by an accredited appraiser.
A Fair Market Value Appraisal, is a formal demonstration the market value of a property based on thorough research, an understanding of market conditions and carefully weighed analysis.

Q. How long does it take to prepare an appraisal?

A. Comfortably, a week or less. Depending on schedule.

Q. How many comparable properties are considered?
A. Typically I will go back in time up to 2-3 years in the subject neighborhood or condo building , looking for similar type and style of homes.
The first list is typically 20-30 comparable properties and they are saved on-line for careful examination.
This group is gradually reduced to the 10 most similar and most recent sales, and then 3 most recent and/or comparable sales..
I do not recycle my research. Every assignment is researched uniquely and equally.
Each appraisal is approached freshly as each property and each market period has its own unique characteristics.

Q. Distinguish between a Home Inspection and an Appraisal
A. The Market Value Appraisal is intended to capture the value of a property as of an specific effective date, based on market research of comparable sales, relevant economic conditions, and relative values of various elements of the property.
A Home Inspection, on the other hand, is intended to analyze the 'functionality' of the property considering structural, mechanical, and systemic components.
The Home Inspector may refer to costs of repair, but matters of real estate property values are not a part of their expertise.
It would be highly unusual for a Home Inspector to comment on the value of the property just as it would be unusual for an appraiser to comment on the more latent elements of the subject property.

Q. Is there anything I have to do before the inspection?
A. There isn't a lot required of the client before an appraisal inspection. Generally speaking, the home in its normal condition is sufficient for appraisal purposes.
It is very helpful if there is easy access to the heating cooling systems, electrical panel, garage, and all of the rooms of the property.
If there is any ongoing work, it would be useful to discuss the estimate to bring the project to completion.
Other matters like realty taxes, assessments, area sales are already on file with the appraiser.

Q. Should the client be at the property during the inspection?

A. The client frequently arranges to meet at the property.
Sometimes a relative, neighbor, concierge or tenant provides access and payment on the client's behalf.
Lockboxes are often used to permit access.

Q. Do you discuss the appraisal results with anyone else?
A. No. All work is confidential.
The appraisal is for the client's information only and can be discussed with a third party only with the client's express permission.

Q. Do you appraise condos, co-ownerships and co-ops?
A. Yes. While they are 3 distinctly different types of property ownership, the approach to value is essentially the same.

Q. Do you appraise out-of-town properties?
A. Time permitting, yes- though on a very limited basis.
I am licensed to appraise across the Province of Ontario and sometimes appraise homes in Toronto's suburbs within 1 hour of Downtown Toronto. (Schedule dependent)
Generally speaking however, you're always best advised to hire an appraiser who specializes in your particular area and location.

Q. Are you a Certified Appraiser?

Q. What are the Main uses of Your Appraisal Reports?

A. The main uses of these appraisals are:

Capital Gains Tax Calculation

Family Law / Divorce / Asset Distribution

Estates / Probate

Estate Planning

Historical Values

Internal / Family / Private Sales

Q. What do your Residential Appraisals Cost ?

Single Family Residential: From $595.00.

Condo/Co-op/Co-ownership: From $495.00

Additional Retrospective Dates: From $295.00

Both buyer and seller are motivated.

Both parties are well-informed.

There is a reasonable time for the property to be on the market.

Payment is made in cash or similar financial terms.

The price reflects the usual market value without special financing or discounts.ssociated with the sale.

Q. Can you provide Fair Market Value for a past date?A. Yes. The principles of Fair Market Value apply, even for past dates. My database goes back to 1971, and we often have historical photos of the property. Sometimes, we are asked to appraise a property for up to five different dates.

Q. Distinguish between your “Appraisal” and a “Free Evaluation”?

A. We all receive real estate promotions in our doors offering "free, no obligation appraisals". Agents are simply doing their jobs and hoping for your business now or in the future.

In that situation, the agent typically supplies an informal opinion of value and a marketing plan for your consideration. It is sometimes thin on analysis and context, Agents can provide reliable opinions of value even though they are not recognized as appraisers.

Typically, legal situations require the work to be done by an accredited appraiser.

A Fair Market Value Appraisal, is a formal demonstration the market value of a property based on thorough research, an understanding of market conditions and carefully weighed analysis.

Q. How long does it take to prepare an appraisal?

A. Comfortably, a week or less. Depending on schedule.

Q. How many comparable properties are considered?

A. Typically I will go back in time up to 2-3 years in the subject neighborhood or condo building , looking for similar type and style of homes.

The first list is typically 20-30 comparable properties and they are saved on-line for careful examination.

This group is gradually reduced to the 10 most similar and most recent sales, and then 3 most recent and/or comparable sales..

I do not recycle my research. Every assignment is researched uniquely and equally.

Each appraisal is approached freshly as each property and each market period has its own unique characteristics.

Q. Distinguish between a Home Inspection and an Appraisal

A. The Market Value Appraisal is intended to capture the value of a property as of an specific effective date, based on market research of comparable sales, relevant economic conditions, and relative values of various elements of the property.

A Home Inspection, on the other hand, is intended to analyze the 'functionality' of the property considering structural, mechanical, and systemic components.

The Home Inspector may refer to costs of repair, but matters of real estate property values are not a part of their expertise.

It would be highly unusual for a Home Inspector to comment on the value of the property just as it would be unusual for an appraiser to comment on the more latent elements of the subject property.

Q. Is there anything I have to do before the inspection?

A. There isn't a lot required of the client before an appraisal inspection. Generally speaking, the home in its normal condition is sufficient for appraisal purposes.

It is very helpful if there is easy access to the heating cooling systems, electrical panel, garage, and all of the rooms of the property.

If there is any ongoing work, it would be useful to discuss the estimate to bring the project to completion.

Other matters like realty taxes, assessments, area sales are already on file with the appraiser.

Q. Should the client be at the property during the inspection?

A. The client frequently arranges to meet at the property.

Sometimes a relative, neighbor, concierge or tenant provides access and payment on the client's behalf.

Lockboxes are often used to permit access.

Q. Do you discuss the appraisal results with anyone else?

A. No. All work is confidential.

The appraisal is for the client's information only and can be discussed with a third party only with the client's express permission.

Q. Do you appraise condos, co-ownerships and co-ops?

A. Yes. While they are 3 distinctly different types of property ownership, the approach to value is essentially the same.

Q. Do you appraise out-of-town properties?

A. Time permitting, yes- though on a very limited basis.

I am licensed to appraise across the Province of Ontario and sometimes appraise homes in Toronto's suburbs within 1 hour of Downtown Toronto. (Schedule dependent)

Generally speaking however, you're always best advised to hire an appraiser who specializes in your particular area and location.

Q. Can you provide Fair Market Value for a past date?
A. Yes. The principles of Fair Market Value apply, even for past dates. My database goes back to 1971, and we often have historical photos of the property. Sometimes, we are asked to appraise a property for up to five different dates.