Pre-Flood Appraisal Discounts

See Emails below:
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Bob (and Others),

I am forwarding a note I just received from MRS appraisals regarding appraisals. They have offered a pretty nice discount on combined pre and post-flood values of homes, for only $425.

The post flood values are not as easy to determine as you would think, and would typically require a whole second report at $300. So, they are offering the first report at a discount of $275, and the second one at a deeply discounted $150.

For those wondering why one might need both, the pre-flood values may be used by the City to determine values for substantial damage calculations, as well as potential buyouts. The post flood values, is my understanding, are helpful in determining the amount of loss in equity, which might be able to be written off on one's tax return.

If you are not sure whether this would be helpful, you should consult your accountant, tax preparer, or the IRS.

Thanks,

Dave BiancuzzoColdwell Banker Real Estate Professionals70 Sturgis Corner DriveIowa City, IA 52246319-887-7239 direct319-631-4232 mobile319-351-6889 faxdavebiancuzzo@aol.com(Licensed in Iowa)


----- Original Message -----
From: khostetler@mrsappraisals.com
To: davebiancuzzo@aol.com
Sent: Wednesday, August 20, 2008 2:18 PM
Subject: Pricing for appraisals before and after flood of 2008
Hi Dave,

Following is the fee schedule for the appraisals that we will be completing with this process.

Value prior to flooding as of approximately June 4, 2008 $275.00

Appraised value after the flood damage with prior value $425.00

Appraised value only after the flood $325.00

You are welcome to post this at any time where the residents from the area can see them. Thank you for your assistance with this process.

Keith Hostetler
Hal Kleinsmith
MRS Appraisals
358-7827