Barber & Associates is a commercial real estate appraisal firm which covers the Richmond MSA, Middle Peninsula, Northern Neck, and Tidewater areas. We provide appraisals of office buildings, industrial properties, retail/shopping centers, multi-family properties, and most undeveloped land types. We regularly perform market rent studies, which allow clients to make informed lease decisions. We do not appraise residential property.
Contact us today to find out how we can help with your central Virginia commercial appraisal needs.
From owner-occupied condos to multi-tenant mid-rise towers in the Financial District, Barber & Associates is an expert office valuation firm.
Brick and mortar retail is undergoing upheaval. Amazon is displacing many traditional retailers. However, we have our finger on the pulse of retail.
Is 24' clear-span high enough? Does rail access command a premium? Let our industrial appraisers help.
As with the rest of the US, investors can't find enough multi-family investment property to purchase in Richmond, VA. Before you buy/lend, call us.
Recreational waterfront land, retail pad sites, subdivision A&D work....we are valuation experts for all.
Barber & Associates serves local, regional, and national lenders. Non-lending clients include attorneys, accountants, and private individuals.
Banks engage us for loan underwriting. Accountants will direct clients to us for tax purposes, i.e., estate planning, inheritance, divorce proceedings, etc. Attorneys utilize our services for expert witness testimony, government right-of-way acquisitions, and complex lease/sale negotiations.
Customer: How are appraisers handling the Covid-19 situation?
BA: With guidance from the Appraisal Institute, banks, the CDC, and common sense, we're handling assignments on a case-by-case basis. We are performing full, interior inspections when deemed safe for us and the property owner / tenant. We're interviewing market participants daily to make sure we're keeping our fingers on the pulse of the market. We're participating in webinars and phone calls with local and national market participants to understand how the commercial real estate market is reacting to the pandemic.
Customer: I'm buying a commercial property and I need a commercial appraisal. Can you help me?
BA: We can, but you wouldn't be able to give the appraisal to your bank for your loan. The bank must engage us.
Potential Client: Do you have a fee range?
BA: Generally, fees range from $1,500 for a simple Restricted Appraisal of vacant land to $5,000 for complex acquisition and development assignments.
Customer: The appraisal of my home cost $400. Why does the appraisal of my office building cost $3,000?
BA: A commercial appraisal typically includes detailed analyses of comparable sales, leases, and expenses, usually in a narrative report format. The appraisal of your home was most likely done on a standard form, which takes much less time.
Developer: I'm preparing a development pro forma to take to a lender for an acquisition and development loan. Can Barber & Associates help?
BA: We can help prepare or review the analysis, with independent and unbiased eyes. Also, we cannot perform the appraisal for the lender. Contact us for more information.
General Public: How are appraisers regulated?
BA: Real estate appraisers have Federal (USPAP, The Appraisal Foundation), State (DPOR), and trade organization-level oversight from the Appraisal Institute.
Future Appraiser: What is a typical real estate appraiser salary?
BA: A typical real estate appraiser salary is a function of how hard he or she works, efficiency, and demand for their services. In conjunction with the fees noted above, a seasoned commercial appraiser should be able to complete one appraisal per week.
Job Applicant: How can I find real estate appraiser jobs?
BA: In addition to popular jobs boards like Indeed, real estate appraiser jobs can be found on the Appraisal Institute's website. Your best bet though, is to network in your local community. While appraiser education is rigorous, the most challenging hurdle is finding a mentor to help you get your experience hours.
Estate Heir / Executor: How do I know if I need an appraisal for an estate?
BA: Typically, an accountant or attorney will advise you. BA is very active with such appraisal work. We handle real property in estates for estate planning on a regular basis. Appraisals are typically used for establishing a tax basis for inheritance.