Why the property valuation process is considered as the tough process?

But to hire such experienced property valuer you will need to perform a detailed search in the real estate market to find one capable property valuer. After you make a reliable and good choice of property valuer for performing the property valuation process it will be easier for you to manage the whole process for finding the house price. the warehouse segment, for example, there is an increased call for month-to-month terms or threemonth blocks with a duration up to one year.Rock Road Business Center will add 24,000 square feet of needed Class B flex space in 2003.Class A flex space, primarily centered in Northrock Business Park, is at $12 per square foot.The Class A market appears to be softening as reflected in long-term vacancies in high cube and other Class A properties fronting K-96.

We’ve learned that the Australian Accounting Standards Board plan to change the way you account for the re-valuations of property assets. In one fell swoop, this proposal has the potential to wipe millions of dollars off your bottom-line.

The process which is conducted for finding the house price is known as the property valuation process and this process is considered as the tough or complex process. And this is said because the process for valuing property has several legal steps which are tough and complicated because of the legal involvement. At present, property owners are required under AASB 1010 Revaluation of Non-Current Assets to take a net increase in value of their properties to the asset valuation reserve on the balance sheet. Any net decline not covered by a previously existing asset revaluation reserve must be put in the P&L statement as an expense.

The keyword in the existing standard is net. The only way a decline in the value of one or more of your assets hits the P&L is if the overall value of your assets during the year are written down and you did not have an asset revaluation reserve from the previous round of valuations.That’s all about to change.

The concept of net re-valuation has been removed! Exposure Draft 92 – Revaluation of Non-Current Assets proposes that each increase or decrease in the value of your assets is treated independently of each other. In other words, a decline in the value of one or more of your assets must be expensed in the P&L regardless of whether or not the overall value of your assets has gone up.

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