The Use of Geographic Information Systems in Real Estate Appraisal

Throughout the process of showing clients houses, the agent discusses not many things about the property itself. Because the agent must be aware of the neighborhood the property is in, they often use their knowledge of the landscape to further convince clients as to why they should make the investment. Some main points discussed are, distance from the nearest shopping, size of the rooms, and various features of the house. Such things as, the fireplace, pools, the size of the garage and even the gardens are discussed when overviewing the

Maps are important to the study of geography because maps help with understanding geographic features and why something happens based on where something is located.

A Graphical Information System “is a decision support system designed specifically to analyze spatial information.” (Haag, Cummings. P.166) The graphical data demonstrated by the GIS is used to analyze roads, sewer systems, paths of hurricanes, free ways, traffic, or any graphical data that can be statistically represented.

The real estate division was estimated to have a fair value of $13,890,000. This was determined by totaling the number of lots expected to sell within the next four years and multiplying it by the price per lot of $180,000. After determining total lot sales, a 20% discount rate was applied as suggested by current market conditions. Given the unique nature of the real estate development, it is not believed that there are any comparable developments to find a market multiple.

Clients tend to make decisions upon the data provided through technology as opposed to experience and intuition. This aspect of real estate business is challenging for everyone involved

Valuers: A property valuer will be able to ascertain the current market value of your property. Depending on the nature of your property, business valuers and agribusiness valuers may also be necessary. This data is important as valuations provided by the government may be significantly underestimated.

Being a homeowner is a large responsibility. A key piece of ownership is knowing the value of your property. When you know how much your home is worth, you can better prepare to purchase, sell, or refinance. Thankfully, you don’t have to guess your home valuation. The appraisers at Augustine, Inc. can provide you with a property estimate and appraisal that tells you exactly what you need to know.

Spatial data is a costly resource to generate and maintain, spatial data consumers have been unable to accurately and conveniently link with other spatial data users to share and discover useful and relevant data. There is problem of insufficient and inappropriate metadata available for the clearinghouse, metadata problems impact on effective spatial data use. The following are examples of issues associated with spatial metadata:

The solution to these issues cannot be resolved in a short period of time as these are mainly socio-economic complications, however, attainable solutions are present. As far as GIS comprehensive, this will become less of an issue as more people become familiar with using computers and maps through work and education (Carver et al, 2001). As mentioned earlier in Baker’s (2005) article, strides are being made to teach K-12 students Web GIS, for digital learning

In this background paper, I intend to describe and discuss the three main assessment approaches used by the Property Valuation Services Corporation (PVSC), who currently assess all properties at market value in the Municipality of the County of Pictou, using standards provided by the International Association of Assessing Officers (IAAO) and legislated by the Province of Nova Scotia. I have found that the most common approach in our municipality, the direct comparison approach, is the approach I would

GIS or Geographic Information Systems is a software capable of gathering, storing, manipulating and presenting geographic information that its data is identified by its location (Stair & Reynolds, 2012). The company chosen for Rainforest is ESRI; they developed and GIS systems that function as an integral component that fits different type of organizations (ESRI, 2014). The software is designed to gather, analyze and display all types of geographical information. This works by simple five-step (Ask, Acquire, Examine, Analyze and Act) systems that lets any organization apply their GIS software to meet the organization needs that requires a geographic decision. Their GIS location-based analysis and data integration will help our organization supply chain visibility and get a better understanding of production to demand. The best feature of this software is the geographical view of any information management would need from the opening of a new facility to determining how each facility is doing (ESRI,

It can be used by a company to portray GIS to about products, available at different locations, discount on the product. This gives a static picture intended to get the customers coming in. For this purpose GPS data is of little use. In majority of cases though, GIS is used along with GPS data in

There are three primary routes to establishing a real estate property values and these methods differ significantly. The most common for residential real estate is the determination of market value or the sales comparison approach. This method utilizes sales data to determine what other similar properties in the local market have sold for. Another method of determining value is through a cost approach which is more typical in new construction. For example, when a contractor builds a new house or structure they might charge for the materials and labor that was used plus some amount of

Here the authors try to describe the use of GIS software for location site analysis. They are trying to tell that one can feed multiple layers of information in the GIS software laid on top of each other and then all this information can be analyzed together. Every layer can contain some data like rent, cost of labor, geographic information etc.

To use map overlays for examining various regions of Canada, Roger Tomlinson of Canada’s Department of Forestry and Rural Development developed geographic information system called CGIS and its first true operation was appeared in Ottawa, Ontario in 1962.The modern version GIS using today is developed in 1980 by CARIS (Computer Aided Resource Information System) and ESRI (Environmental Systems Research Institute) which they used the methods of CGIS and newer second generation techniques. For good Information tool and efficient mapping it undergone a many technological updates till now.