Manual of Rural Appraisement as Applied in California: A Handbook for the Banker, the Realtor and the Investor

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Pacific Rural Press, 1923 - Farms - 141 pages
 

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Page 9 - Fifth. No such loan shall exceed fifty per centum of the value of the land mortgaged and twenty per centum of the value of the permanent, insured improvements thereon, said value to be ascertained by appraisal, as provided in section ten of this Act. In making said appraisal the value of the land for agricultural purposes shall be the basis of appraisal and the earning power of said land shall be a principal factor.
Page 139 - ... money invested in short leasehold or small cottage property. The rate per cent. will be found to vary with different kinds of property, with the same description of property at different times and in different parts of the country. The valuer should make careful notes of actual sales and lettings with which he is personally concerned as well as those reported in the professional papers, and apply this general knowledge to particular cases with which he is called upon to deal.
Page 133 - ... handling his current account and other financial business as well. The local banker can also lend far more on actual value; in fact, he can handle the cream of securities with safety, in sums impossible to the long-term banks.
Page 139 - The years' purchase depends upon the term and the rate of interest allowed in the calculation. In the case of incomes, such as those derived from freehold property, the years' purchase always equals 100 divided by the rate per cent.
Page 139 - To make a good valuer it is necessary that the habit of observation should be strongly developed and no opportunity should be missed of analysing results arrived at by leading men in the profession, whenever opportunity occurs.
Page 139 - Thus the yield obtained from freehold agricultural land is at a low rate and such property may generally be valued on the 3^ or 4 cent table.
Page 13 - She has a rainfall of from 90 inches on the north coast to 3 inches in Imperial County, at the extreme south end. She has agricultural lands varying from 250 feet below sea-level to 6,000 feet above.
Page 139 - It must be thoroughly understood at the outset that the fixing of values in real property is a matter which cannot be taught absolutely by any number of books, however exhaustive they may be.
Page 78 - The appraiser starts with the bare land values, using their general agricultural capacity as a basis, with some enhancement for special adaptability, and then adds such enhancement for the trees as his judgment shall determine.
Page 133 - ... in the neighborhood of large cities. They are barred from it if the selling value exceeds the productive value excessively.

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