Do you know the value of your property? . . .

 

. . . We can help you with that question.

 

 

Real Estate Appraisals

 

Commercial, Industrial, Multi-Family & Agricultural

 

- Services Available Statewide in Indiana -

 

Indianapolis, Fort Wayne, South Bend, Northwest Indiana, Lafayette,

Kokomo, Muncie, Richmond, Terre Haute, Bloomington, Evansville,

Jeffersonville, Clarksville, New Albany, and Southeast Indiana

 

 

Office (317) 216-8601 or (800) 373-1210

(Answered During Business Hours 8AM to 5PM EST)

 

Mobile (317) 716-1444 or (800) 736-5063

(Answered During and Outside Business Hours)

 

Fax (317) 216-5584 or (800) 229-5143

 

Click Here to Contact Us, or Email Us at info@s-vr.com

24/7 for a Free Consultation

 

We are certified appraisers & consultants headquartered within the Indianapolis Metro Area.  As part of our primary service area, we accept real estate appraisal assignments through-out the State of Indiana.  The assignments we accept involve commercial, industrial, multi-family & agricultural properties. 

Property types for which we offer appraisal services include the following.

Commercial 

● Single-Occupant Office
● Multi-Tenant Office
● Free-Standing Retail
● Multi-Tenant Retail
● Hotels & Motels

● Land

Industrial 

● Manufacturing Facilities
● Warehousing Facilities
● Agricultural Facilities

● Land

Multi-Family 

● Apartment Complexes
● Apartment Buildings
● Mobile Home Parks

Agricultural

● Grain & Seed Facilities
● Specialty Farm Operations
● Cash Rent & Owned Crop Land

 

Real estate appraisals are ordered for a variety of intended uses. Some of these demands may include.

● Accounting & Financial Reporting

● Acquisitions & Mergers

● Buy / Sell Agreements
● Corporate Planning
● Divestitures
● Estate Planning Matters

● Estate Tax Matters

● Financing / Loan Collateral
● Gift Tax Matters

 

Depending upon the situation surrounding the need for the appraisal. The value concept researched and estimated may be one of the following.

● Market Value
● Fair Market Value
● Fair Value
● Investment Value
● Liquidation Value

USPAP Compliant, Competent & Certified
We are USPAP (Uniform Standards of Professional Appraisal Practice) compliant, competent and certified.  We have taken real estate appraisal courses through recognized organizations including the Appraisal Institute.  We are members of various recognized professional real estate appraisal organizations.  Our education and experience exceeds the voluntary "Appraiser Minimum Qualification Criteria" adopted by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation for the practice of real estate valuation.  Since we are USPAP (Uniform Standards of Professional Appraisal Practice) certified, our reports are completed in accordance with these guidelines.  We are required to re-certify in USPAP content on a periodic schedule.

Client Confidentiality
Clients are always concerned with the confidentiality of their records and assignment results. As accredited  appraisers and members of various professional organizations, we are bound by the confidentiality clause of the Uniform Standards of Professional Appraisal Practice (USPAP).  USPAP requires that we maintain the confidentiality of all conversations, documents provided to us and the contents of our reports, subject to legal or administrative processes or proceedings.

Qualifications of Principal
The principal of Schreiner Valuation Resources LLC is Bill Schreiner.  Mr. Schreiner has over twenty-seven (27) years of diverse experience in the appraisal, valuation, and consulting professions.  Mr. Schreiner's real estate appraisal & consulting experience to date includes the performance of various types of assignments involving various property types.  A brief listing of his qualifications are noted below.  A more detailed CV is available upon request.

Bill Schreiner
●  Certified General Appraiser License from the State of Indiana Professional Licensing Agency.

●  CCRA Certified Commercial Real Estate Appraiser Designation from the National Association of Real Estate Appraisers.

●  MSA Master Senior Appraiser Designation in the real property discipline from the National Association of Master Appraisers.

●  Real estate appraisal & consulting education includes the following.

     - Appraisal Institute, Chicago, Illinois.

        Course 101 Introduction to Appraising Real Property.

        Course 310 Basic Income Capitalization.

        Course 510 Advanced Income Capitalization.

        Valuation for Financial Reporting Webinar.

     - McKissock Education, Warren, Pennsylvania.

        Sales Comparison Course.

        Land & Site Valuation Course.

        Cost Approach Course.

        Commercial Appraisal Review Course.

        Appraisal of Self-Storage Facilities Course.

        Appraisal of Assisted Living Facilities Course.

        Appraisal of Historic Properties Course.

     - National Highway Institute, Arlington, Virginia.

        Real Estate Acquisition Under the Uniform Act Course.

        Local Public Agency Real Estate Acquisition Course.

     - Marshall & Swift, Los Angeles, California.

        Commercial Building Cost Course.

     - BKG Education, Pasadena, California.

        Course 101 Overview of Cost Segregation.

●  BCBA Board Certified Business Appraiser Designation from the National Society of Appraiser Specialists.

●  Member - Association of Professional Merger & Acquisition Advisors.

●  Member - Business Valuation Association.

●  Business valuation education includes course work completed thru the National Association of Certified Valuators & Analysts, the University of British Columbia, and the New York Institute of Finance.

●  CAGA Certified Member Designation in the personal property discipline from the Certified Appraisers Guild of America.

●  Machinery & equipment appraisal education includes course work completed thru the American Society of Appraisers, the University of British Columbia, the International Society of Appraisers, the National Auctioneers Association, the- Association of Machinery & Equipment Appraisers, the Royal Institute of Chartered Surveyors, and the Certified Appraisers Guild of America.

●  Management Certificate from Loyola University, School of Business Administration, Chicago, Illinois.
●  Over twenty-seven (27) years of diverse experience in the appraisal, valuation, and consulting professions.

●  Previously held the position of Senior Appraiser in a regionally based accounting & consulting firm.
●  United States Marine Corps Veteran (Honorable Discharge from Active Duty and Service-Connected

    Disabled Veteran Rating from the Department of Veterans Affairs).

 

Qualifications of Key Associate
Mr. Schreiner's key associate within the real estate section of his practice is Frederick Gulmire.  Mr. Gulmire undertakes and assists in various types of appraisal & valuation consulting assignments.  A brief listing of his qualifications are noted below.  A more detailed CV is available upon request.

Frederick Gulmire
●  Certified Real Estate Appraiser License from the State of Indiana Professional Licensing Agency.
●  Auctioneer License from the State of Indiana Professional Licensing Agency.

●  ASCA Certified Member Designation in the personal property discipline from the Auctioneers Society of Certified Appraisers.

●  Real Estate Brokers License from the State of Indiana Professional Licensing Agency.
●  Bachelor of Science Degree From Ball State University.

 

Qualifications of Other Associates
Additional associates located through-out Indiana are brought in on a case-by-case basis for specific assignment requirements.  These associates include licensed, certified, and designated real estate appraisers.  Detailed CVs will be provided on any other associates attached to a particular assignment.

Appraisal Methodology
The appraisal process in relation to real property is the orderly program in which the data used to estimate the value of the subject property are acquired, classified, analyzed, and presented. The first step in the process is to define the appraisal problem - i.e., identify the real estate, the effective date of the value estimate, the property rights being appraised, and the type of value sought.  Once this has been accomplished, the appraiser collects and analyzes the factors that affect the value of the subject property.  These factors are addressed in the economic (general economy, regional economy, area economy, neighborhood & property sector) analysis, the subject property analysis, the highest & best use analysis, and in the application of the applicable approaches to value (i.e. cost, sales comparison & income approaches).

The cost approach to value involves two (2) sub-approaches. The value of the subject site must first be estimated in this approach.  Typically, a sales comparison technique is utilized to estimate the value of the land as though vacant.  The appraiser gathers data on sales of comparable sites and analyzes the nature and conditions of each sale, making logical adjustments for dissimilar characteristics.  For land value, the unit of comparison is usually price per square foot or price per acre.  The cost approach continues with accrued depreciation being deducted from the replacement cost new of the improvements.  This figure is then added to the land value to indicate the value of the whole property.  The replacement cost new of the improvements is estimated based on current prices for component parts of the building less depreciation, which is computed by analyzing the disadvantages or deficiencies of the existing building as compared to a new building.

The sales comparison approach is used to estimate the value of the property as improved.  The appraiser gathers data on sales of comparable improved properties.  The appraiser then analyzes the nature and conditions of each sale, making logical adjustments for dissimilar characteristics. Typically, a common denominator is found.  For most improved properties, it may be price per square foot, price per unit, or a gross income multiplier.  The sales comparison approach produces a good indication of value when sales of similar properties are available.

The income capitalization approach is predicated on the assumption that a definite relationship exists between the amount of income a property can earn and its value.  In other words, value is created by the expectation of benefits to be derived in the future.  In this approach, the anticipated annual net operating income of the subject property is processed to produce an indication of value.  Net operating income is the income generated after payment of typical operating expenses, but before payment of any debt service.  Income is converted into value through capitalization in which net operating income is divided by a capitalization rate.  Factors such as risk, time, interest on the capital invested, and recapture of the depreciating asset are considered in selecting the capitalization rate.  The appropriateness of this rate is critical, and it may be developed in various ways.

The final step in the appraisal process is the reconciliation or correlation of the value indications.  In the reconciliation, the appraiser considers the relative applicability of each of the approaches used, examines the range of the value indications, and gives the most weight to the approach that appears to produce the most reliable solution to the appraisal problem.  The purpose of the appraisal, the type of property, and the adequacy and reliability of the data are also analyzed and considered in assessing the appropriateness of each approach to value.  To apply the developed approaches to value, information pertaining to the value of the subject property must be derived from the market because the appraiser seeks to anticipate the actions of buyers and sellers in the market.

Depending upon the situation surrounding a valuation and the data available.  We will help you sort through this methodology to a clear understanding of the value to be estimated and the approaches to be applied.

The types of data we utilize in the performance of real estate appraisals vary widely depending upon the specific appraisal problem.  These sources include the following.

● Co-Star (Lease & Sale Comparables, Vacancy & Occupancy Information).

● Appraiser Shared Databases (Lease & Sale Comparables).

● Realtor (MLS) Shared Databases (Lease & Sale Comparables).

● Marshall & Swift Data (Replacement Cost & Depreciation).

● Reis (Rent, Vacancy & Occupancy Information).

● Smith Travel Research (Revenue & Occupancy Information).

● IREM (Income & Expense Information).

● First Research (Industry Information).

● Realty Rates (Cap Rates, Interest Rates & Replacement Reserves).

● RERC (Market Statistics, Cap Rates, Equity Yields & Discount Rates).

● Public Records (assessment & transfer records).

 

We subscribe to numerous print media and online databases for real estate information & data.  The resources for this data are always expanding, given the reach of the information age.  This all goes together to form a solid basket of market information to form the basis of estimated values.  Each written report will list the specific references for the engagement that were relied upon in the performance of the appraisal analysis.

A few years back USPAP (Uniform Standards of Professional Appraisal Practice) was modified to do away with the former definitions of the type of appraisal undertaken (i.e. "limited" or "complete").  The new standard involves the "scope of work rule" in which a client and an appraiser must mutually agree upon a scope of work that is adequate for the assignment and will produce credible results.

Of course, the appraiser is charged with the responsibility of final determination on what is required to produce credible results.  So an appraisal analysis may involve only one (1) approach to value, two (2) approaches to value, or all three (3) approaches to value.  It is all variable on the particular appraisal problem, the subject property type, and the market data available for the assignment.

There are two (2) basic types of written appraisal reports produced for commercial & industrial real estate valuation assignments.   These include the following; 1) the "restricted appraisal report" (Standard 2-2B), and 2) the "appraisal report" (Standard 2-2A).  The "self-contained" format has been retired as of January 1st of 2014.

A "restricted appraisal report" presents "summary statements" and "basic illustrations" relative to the data, reasoning, and analysis that were used in the appraisal process to develop the opinion of value.  Supporting documentation concerning the data, reasoning, and analyses are typically enclosed within the file for the assignment.  This report is suitable for "internal uses only" by the named client.  It is not suitable for intended uses where third party users may need to review the report.

An "appraisal report" presents "summary discussions & detailed illustrations" of the data, reasoning, and analysis that were used in the appraisal process to develop the opinion of value.  Supporting documentation concerning the data, reasoning, and analyses are typically enclosed within the addenda of the report (and more fully documented within the the file for the assignment).  This report is suitable for a number of intended uses and is appropriate when third party users may need to review the report.

Fees & Timing
Typical fees for assignments can range widely dependent upon the scope of the analysis, type of property and type of report.  An indication of typical fee ranges in noted as follows.

● Single occupant properties - narrative "restricted appraisal report" ($750 to $1,500).

● Single occupant properties - narrative "appraisal report" ($1,500 to $3,500).

● Multi tenant properties - narrative "restricted appraisal report" ($1,200 to $4,500).

● Multi tenant properties - narrative "appraisal report" ($2,500 to $6,000).

 

Timing for completion of assignments can range from a few days to a month, dependent upon the complexity of the engagement.  A solid fee & timing quote can be provided with some basic information about the appraisal problem and property to be valued.

Disabled American Veteran Owned - Schreiner Valuation Resources (SVR) is a Disabled American Veteran owned business.  Bill Schreiner, who owns 100% of Schreiner Valuation Resources is; 1) an Honorably Discharged Veteran of the United States Marine Corps, 2) has a Service Connected Disability rating from the Department of Veterans Affairs (VA), 3) is a member of the Disabled American Veterans (DAV) organization, and 4) is a member of the National Veteran Owned Business Association (NaVOBA).

Schreiner Valuation Resources, LLC

Mobile Telephone (317) 716-1444 or (800) 736-5063

Office Telephone (317) 216-8601 or (800) 373-1210

Facsimile (317) 216-5584 or (800) 229-5143

info@s-vr.com

 

Corporate Headquarters

101 West Ohio Street, Suite 2000

Indianapolis, Indiana  46204

 

 

Services Available Statewide in Indiana - Real estate appraisals are available in Indianapolis, Fort Wayne, Evansville, South Bend, Gary, Hammond, Bloomington, Muncie, Anderson, Terre Haute, Lafayette, Elkhart, Mishawaka, Kokomo, Richmond, Columbus, Fishers, Carmel, New Albany, Greenwood, Plainfield, Michigan City, Marion, Merrillville, West Lafayette, Noblesville, Valparaiso, Jeffersonville, Hobart, Schererville, LaPorte, Clarksville, Crown Point, Logansport, Franklin, Seymour, New Castle, Huntington, Frankfort, Lawrenceburg, Angola, Auburn, Aurora, Batesville, Bedford, Bluffton, Boonville, Brazil, Chesterton, Columbia City, Columbus, Crawfordsville, Crown Point, Decatur, Edinburgh, Ellettsville, Fort Branch, Gas City, Greencastle, Greensburg, Haubstadt, Lebanon, Madison, Martinsville, Monticello, Mooresville, Morgantown, Mount Vernon, Nashville, New Castle, Newburgh, North Vernon, Peru, Plymouth, Princeton, Rochester, Scottsburg, Sellersburg, Spencer, Tipton, Vincennes, Wabash, Warsaw, Washington, Westfield & Zionsville.


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