I've been slowly working on this appraisal project every week since the beginning of the semester. We're approaching week number 12 of the semester. Today, everything finally came together. Granted it took me about 12 hours today to complete the report. For me, installing and learning the new computer software to type my report into took most of my time. The next most time consuming part of it was making value adjustments for the three comparable properties compared to my subject property. With each adjustment, I had to explain the reasoning behind my adjustment. After finishing my appraisal report, I gathered everything I needed for the report folder, including general and specific data. I hope the countless hours that I put into this project pays off because it's worth 20% of my overall grade in this class. My unprofessional and un-licensed opinion of value of my grandma's 50 year old house is $172,000. I used the sales-comparison approach to come to that value.
Although I hated working on the project because it was so time consuming, I'm glad that I can now look at an appraisal and understand where all of the values come from. It should come in handy in the future when I own my own house. Yeah, I actually learned real-life, useful information. That doesn't happen very often.
Tomorrow, I've earned a complete day off from school and work. I plan to sleep in, clean, run, write, draw, watch Netflix, and maybe even go to a movie if I don't nap for too long. I'm going to enjoy it because my next day off won't be until after finals on December 9th.
