My New Blog

June 5th, 2022 4:30 AM
Another first in my life as an appraiser. Upon arriving at my subject, I was greeted by 3 very large and intimidating turkeys. My first thought was how did y’all survive Thanksgiving. As I proceeded to the front door, Larry, Curley, and Moe were in pursuit. I made it safely to the front door where I was met by the home owner with a worn out broom. She handed it to me and instructed me to use it to “shoo” away the stooges. By the time I completed my measuring, I’d become adept at using my laser measurer, balancing my phone for pictures, and welding my broom epee. Life of an appraiser - never dull.

Posted in:Appraising Life
Posted by Frank Fulbright on June 5th, 2022 4:30 AMLeave a Comment

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October 13th, 2019 11:13 PM
When opportunity knocks, you have to at least open the door. Right? Of course! We have been given a chance to expand our territory to the Athens market including its surrounding counties and those in the CSRA (Central Savannah River Area). We are fortunate to have solid data sources and relationships with local real estate professionals to compliment our products and broaden our market knowledge base.  We're looking forward to providing our clients (current and new) with the same level of quality and supported valuations of their real property interest.

Posted in:General and tagged: New Market
Posted by Frank Fulbright on October 13th, 2019 11:13 PMLeave a Comment

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February 20th, 2019 1:46 AM

Three approaches to value
There are three ways to determine the value of anything, and each plays a part in property appraisal.

The most widely-used and accepted in residential practice is the sales comparison approach.  This approach bases its opinion of value on what similar properties in the vicinity have sold for recently, with appropriate adjustments for time, acreage, living area, amenities and so on.  It is these adjustments where the expertise of the professional appraiser becomes necessary -- no computer can tell you how much or little to mark up for a fireplace without knowing the neighborhood or even talking to Realtors and recent buyers in the area about how important that amenity is in that particular location.

Another approach is the cost approach.  How much would a property cost to replace, that is, rebuild, minus "accrued depreciation," that is, depreciation that has occurred since the property actually was built?  The cost approach includes concepts like "economic life" and "effective age" that are mostly of use in determining the value of special use properties, special purpose properties or properties where subsequent structural improvements greatly impact value.

The third approach to value is called the income approach.  Some properties generate income for their owners -- the most obvious examples being rental properties such as apartment buildings, non owner-occupied houses and duplexes and the like.  The rental income an owner might reasonably expect from a property is part of its value.  For a purely owner-occupied residential property, this may not be applicable, but it can be important if the property is to be rented out or used otherwise to generate income, such as a storage facility, cell tower rental and office building.


Frank Fulbright 261 Breeze Hill Court Canton, GA 30114
Phone: (770) 656-9234 Fax: (678) 264-0900 E-mail:

Posted in:General
Posted by Frank Fulbright on February 20th, 2019 1:46 AMLeave a Comment

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February 14th, 2019 7:29 AM

How to Prepare for an Appraisal

For homeowners, a real estate appraisal is the linchpin to buying or selling their home. It allows the property transactions to occur among the buyer, seller, real estate agent and mortgage lender.

Before an Appraiser arrives, there are a few things you should know. By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions. Also by law, you are entitled to receive a copy of the completed appraisal report from your lender.

To facilitate the appraisal process, it's beneficial to have these documents ready for the appraiser:

  • A plot plan or survey of the house and land (if readily available)
  • Information on the latest purchase of the property in the last three years
  • Written property agreements, such as a maintenance agreement for a shared driveway
  • List of personal property to be sold with the home
  • Title policy that describes encroachments or easements
  • Most recent real estate tax bill and or legal description of the property
  • Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells
  • Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available)
  • A copy of the current listing agreement and broker's data sheet and Purchase Agreement if a sale is "pending".
  • Information on "Homeowners Associations" or condominium covenants and fees.
  • A list of "Proposed" improvements if the property is to be appraised "As Complete".

Once your appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but you should be available to answer questions about your property and be willing to point out any home improvements.

Here are some other suggestions:

  • Accessibility: Make sure that all areas of the home are accessible, especially to the attic and crawl space
  • Housekeeping: Appraisers see hundreds of homes a year and will look past most clutter, but they're human beings too! A good impression can translate into a higher home value
  • Maintenance: Repair minor things like leaky faucets, missing door handles and trim
  • FHA/VA Inspection Items: If your borrower is applying for an FHA/VA loan, be sure to ask your appraiser if there are specific things that should be done before they come. Some items they may recommend might be: Install smoke detectors on all levels (especially near bedrooms); install handrails on all stairways; remove peeling paint and repaint the effected area; provide inspection access to the attic and crawl spaces.

FulValue Appraisals E-mail:

Posted in:General and tagged: Home Owner Questions
Posted by Frank Fulbright on February 14th, 2019 7:29 AMLeave a Comment

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February 1st, 2012 5:05 PM
What is USPAP?

USPAP, which you might hear pronounced like "YOOS-pap," is the Uniform Standards of Professional Appraisal Practice. USPAP is published and maintained by the Appraisal Standards Board (ASB) of the Appraisal Foundation, a non-governmental entity charged by Congress with promulgating appraisal standards.

USPAP is revised periodically, usually every year. It begins with a list of Definitions, and a Preamble defining the mission. It then declares a set of general Rules governing all disciplines of appraisal practice: The Ethics Rule, the Competency Rule, the Scope of Work Rule, the Jurisdictional Exception Rule, and the Supplemental Standards Rule. It then sets forth 10 appraisal Standards, each containing a number of Standards Rules. Each Standard covers in detail the different tasks an appraiser might perform in the course of developing and reporting an appraisal ("Real Property Appraisal Development"; "Real Property Appraisal Reporting"; "Business Appraisal, Development"; etc.). It includes a number of Statements on those 10 appraisal Standards, some retired, which are used to clarify or supplement the Standards. It also includes Advisory Opinions dealing with the application of the USPAP in various scenarios, such as "When does USPAP apply in valuation services?" and "Clarification of the client in a federally related transaction," which describe real-life problems and how they would be governed under the Rules and Standards of USPAP.

Every appraiser is charged with knowing and following USPAP, usually by operation of state law, and must complete Continuing Education periodically to relearn the basics and become familiar with new Advisory Opinions and annual changes to USPAP. USPAP may be considered the Bible of appraisal practice .

Frank Fulbright 261 Breeze Hill Court Canton, GA 30114
Phone: (770) 656-9234 Fax: (678) 264-0900 E-mail:

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Posted by Frank Fulbright on February 1st, 2012 5:05 PMLeave a Comment

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January 30th, 2012 4:27 PM
Just finished my USPAP update class with Bailey Academy.  It is so much better than taking "online" courses.  Joyce gets to the heart of what we need to know and the exposure to other appraisers and hearing of their experiences and learning from them cannot be matched online.

Posted in:General
Posted by Frank Fulbright on January 30th, 2012 4:27 PMLeave a Comment

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