We appraise all types of residential properties including:
- Executive homes
- Recreational and lakefront properties
- Vacant lots
Our areas of expertise include:
- Employee/military relocation
- Foreclosures/forced sales
- Estate sales
- New home construction/development
Our residential service extends to all of Metro Edmonton including the Counties of Parkland, Sturgeon, Leduc and Strathcona. We can also provide service in central and northern Alberta.
Jackson Real Estate Appraisals conducts appraisal reviews for the commercial property market. We specialize in:
Multi-family - including valuation of multiple family properties involving conventional rental apartments and condominium developments, high-rise buildings, mixed use
Industrial appraisals - generally single and multi-tenant industrial buildings, warehouses, condominium warehousing
Commercial appraisals - shopping centres and retail stores, office buildings, mixed-use projects; we do comprehensive development analyses on high-density, large-scale and mixed-use projects
Land development – including subdivision analysis, raw land, expropriations, vacant urban lots for commercial, industrial and multi-family projects
Special use - including hotels, motels and other hospitality properties, churches, airport properties, extended care facilities, campgrounds
Insurance - replacement cost new analysis and actual cash value analysis for insurance renewal purposes or for claims and settlement disputes
Reserve Fund Studies
What’s a reserve fund study?
Reserve fund studies and depreciation reports are detailed financial documents that include cost estimates of major repairs and replacement of components and assets of the subject complex. They provide financial information, estimates and projections for funding the major repairs and replacement of those components and assets.
Reserve fund studies and depreciation reports are practical guides to planning budgets and maintenance programs. Unlike a technical audit, they do not deal in detailed, technical matters. Rather, comprehensive reserve fund studies and depreciation reports take a straightforward, business approach to reserve fund management.
We do reserve fund studies and depreciation reports on all types of strata and condominium properties, including low-rise/walk-up apartments, four-plexes; high rises, townhomes, true bare land, managed bare land, duplexes, adult communities, mobile parks, and numerous conversion projects and phased projects. Total units have ranged from as little as four to as many as 200.
Who we serve
Our clients come from a wide variety of stakeholders:
- Residential and commercial business condominiums
- Property managers
- Investment and holding companies
- Condominium conversions
- Real estate agents
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We provide insurance appraisals, which are replacement cost analyses that give an estimate for insurance coverage to replace existing building improvements and associated infrastructure on a property. The appraisal reports ensure adequate protection against loss caused by fire or other perils. Insurance appraisals are frequently prepared for:
- Multi-unit condominium corporations
- Individual property owners
Since we routinely appraise a wide range of residential and commercial property types, we are well-informed about current construction costs and therefore a good choice to conduct your insurance appraisal.
Who we are
Jackson Real Estate Appraisals offers a complete range of appraisal and real estate consulting services including:
- Market value appraisals
- Insurance appraisals
- Forced sale appraisals
- Reserve fund studies
Our team has over 20 years of experience and we serve primarily the Greater Edmonton Area. However, our assignments have taken us from the Calgary area to Fort McMurray.
We serve financial institutions, appraisal management companies, private owners/investors, investment holding companies, property managers, lawyers, accountants, government, condominium boards, developers, relocation companies, and non-profit/charitable organizations such as churches and community leagues. Our client list.
Why choose us?
We provide reliable, well researched and documented real estate appraisals in a professional and timely manner. We understand time is often of the essence, so we strive to be as accommodating as possible in this regard. Call, email, fax or text…we will get back to you quickly.
We are approved by virtually every lender in Canada, both as a company and as individual appraisers. Rest assured that our all our appraisals will meet the strict demands of the lending industry.
- Aaron Acceptance Corporation
- Agriculture Financial Services Corporation (AFSC)
- Capital Direct Lending Corporation
- CHIP HomeEquity Bank
- ICI Canada
- Farm Credit Canada
- Fisgard Capital Corporation
- MCAP Service Corporation
Banks and credit unions
- ATB Financial
- Bank of Montreal
- Canadian Imperial Bank of Commerce
- Canadian Western Bank
- First National Financial LP
- HSBC Bank of Canada
- Manulife Bank of Canada
- National Bank of Canada
- RBC Royal Bank
- Scotia Bank
- Tangerine Bank
- TD Canada Trust
- Servus Credit Union
- Shell Employees’ Credit Union
- Brookfield Global Relocation
- The MI Group
- PCHS (Procheck Homes Services)
- Weichert Relocation
- Axiom Mortgage Solutions
- Belmor Mortgage Group
- BMC Mortgage Investments
- Dominion Lending Centres
- Equity First Mortgage Ltd.
- Merix Financial
- Mortgage Intelligence
- Mortgage to Go
- Optimum Mortgages
- The Mortgage Centre
- Titus Financial
- TMG The Mortgage Group
- Verico Mortgage
What is an appraisal?
An appraisal is a professional estimate/opinion of market value which may be defined as "the estimated amount for which a property should exchange on the open market on the date of valuation between a willing buyer and a willing seller in an arm's length transaction after proper marketing wherein the parties each acted knowledgeably, prudently, and without compulsion."
The appraisal is provided in a standardized report format with all supporting market data and property documentation.
What does an appraiser do?
An appraiser normally visits the property and will thoroughly document it with pictures, measurements and field notes and the like. He or she then carefully compares the subject property to other comparables properties and makes dollar adjustments to reflect the differences between them.
Good appraisers are thorough, knowledgeable, experienced and objective and must adhere to a strict code of ethics and the standards as set out in the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP). Please refer to the Appraisal Institute of Canada for more information.
How much does an appraisal cost?
Our appraisal fees vary depending on a number of factors such as:
- Is it a commercial or residential appraisal?
- Type of appraisal: Full, Drive-by, Desk top? Or market data only?
- Size of the property - large properties require more on-site time and may be more research intensive.
- Two values required? "As is" and "as improved" as an example.
- Is the property unique (more research intensive) or homogenous? (less research intensive)
- Do you need the appraisal in a rush? (Discuss with our after hours and weekend appraiser) An extra rush fee may be applicable.
- Is the property in the greater Edmonton area or is there travel time involved?
- Is this a city property or acreage?
To get a quote on your property, fill out our simple appraisal form
How long does an appraisal take?
After we inspect the property, it usually takes about one to two business days for straightforward appraisals. There are often circumstances beyond our control that may delay the appraisal process but we will keep you up to date. Drive-bys and desktop appraisals are usually done the same day and we guarantee market data in two hours or less if ordered between 8:30am and 2:30pm.
What certifications do your appraisers have?
Our appraisal team is comprised of both accredited residential and commercial appraisers as well as undesignated members who are working towards their designations. The CRA (Canadian Residential Appraiser) and AACI (Accredited Appraiser Canadian Institute) designations are owned by the Appraisal Institute of Canada (AIC) which was established in 1938. Our appraisal members also carry professional liability insurance and are licensed by the Real Estate Council of Alberta (RECA).
What does an appraisal report contain?
All reports contain the following:
- Identification of the client
- Estimate (or opinion) of value
- Effective date of the appraisal
- Purpose of the appraisal
- Qualifying conditions
- Description of the neighbourhood
- Identification of the property and its ownership history.
- Analysis and interpretation of the data and the assumptions made
- Processing of the data by one or more of the three approaches to value (direct comparison approach, cost approach and income approach).
- Certification and signature
- Supporting material such as maps, plans, charts, photographs, etc.
Where do appraisers get their information?
Appraisers obtain information from a variety of sources and databases and are most often required to pay for the information that they require. The most widely used database is the MLXchange provided by the Realtors Association of Edmonton. The public may know it as the Multiple Listing Service (MLS) Appraisers may also hold accounts with Alberta Land Titles as well as various departments in local municipalities and surrounding counties.
What is the difference between a realtor's CMA (comparitive market analysis) and a real estate appraisal?
Both reports indicate an opinion of market value. However, an appraisal by a certified real estate appraiser is an unbiased, supported and legally binding opinion of value. A realtor's CMA may demonstrate the most "optimistic" sale price for your home under ideal conditions and could be biased in order to obtain a listing.
Consider this as well, if you are a buyer, would your commissioned realtor tell you if you were paying too much? A good realtor should provide you an honest, realistic market analysis of the property you are selling or buying and should bargain to get you the best price. Choose your realtor wisely. We recommend you always get a certified real estate appraisal - the cost of the appraisal is a mere fraction of what it may cost you in the long run. Take a look at our appraisal options for you.
How should I prepare for the appraisal of my home?
Our appraisers appreciate that many homeowners may not be the best housekeepers at times. A good appraiser can see beyond basic clutter and does not expect your home to be in "show home" condition. However, access to each room and visual inspection should not be impeded by personal belongings. Please make every effort to make sure the appraiser has sufficient access throughout the property so he or she can document it in its entirety.
If occupants are working nights and sleeping during the day, or if there is a tenant-occupied basement suite please make appropriate arrangements so that these areas can be inspected. Otherwise, the appraiser will have to make qualifying statements in the report which may affect a lender's willingness to loan against the property.
The following information can be very useful to the appraiser. Please provide the following if available:
- A list of past and present upgrades or problem areas you may feel are relevant
- Any home sales in the area that you think may be a relevant comparable to your home.
- A list of personal property being sold with the home, if any.
- Copies of previous appraisals
- Home inspection reports
- Copy of past or present sales agreements
- Copy of your Real Property Report (RPR - a certified survey of your property showing building structure dimensions, set backs and property line dimensions).
I disagree with the outcome of the appraisal - what can I do?
At Jackson Appraisals Ltd we value working relationships and strive to manage our clients' value expectations both before and after the appraisal inspection with clear communication. Unfortunately, as we are in the "opinion business", it is inevitable that disagreements happen on occasion. However, you can be assured that you are receiving a well- documented, objective and supportable appraisal of the property that has been reviewed carefully by management.
We are happy to consider any additional information that you think is relevant and we will not hesitate to adjust the value of the property so long as the information is verifiable and relevant to the property being appraised. If we suspect or observe something during the appraisal process that may greatly affect the outcome we will advise you in advance. We cannot provide refunds or alter appraised values simply because the appraised value does not meet expectation.
That said, we are always seeking customer feedback so we can improve our services. If you like to make a comment, compliment, complaint or suggestion call us at 780-486-5158 or email firstname.lastname@example.org