Title

Timeshares, Market Value, and the Real Estate Appraisal Process.

Authors

Roddewig, Richard J.; Brigden, Charles T.

Abstract

This article explores five key issues in timeshare appraising that may be of greater significance than in other types of residential or resort appraisals. First and foremost is identifying the nature of the timeshare interest being appraised and determining whether that type of interest requires an appraisal license in the state where the timeshare resort is located. The second issue is understanding the two-tiered - the primary marketplace involving sales by resort developers and the secondary marketplace involving resales by those who previously bought directly from the resort. Third, the appraiser has to understand how the central components of the definition of market value affect the comparable sale prices that should be considered given the purpose of the assignment. Fourth, appraisers must understand how to find reliable sources of sales data and properly utilize and adjust listings when closed sale prices are not readily available. Fifth, appraisers should be cognizant of central issues associated with the appraisal of charitable donations of timeshare interests, a frequently used technique for the disposition of difficult-to-sell timeshares.

Subjects

MARKET value; REAL property; TIMESHARE (Real estate); DEFINITIONS; APPRAISERS

Publication

Appraisal Journal, 2019, Vol 87, Issue 2, p95

ISSN

0003-7087

Publication type

Academic Journal