Paterson Valuations

Paterson Valuations The leading appraiser in Southern Maine The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal report, as improved, in unencumbered fee simple title of ownership.

I was born in Bangor, Maine. My family has been in Maine since the early 1700’s. I am of Scottish decent on both sides, but I am “a bit of a mongrel” as my grandfather Annis would say. “However a great joy in my life has been sharing the Scottish side which includes the playing of the pipes, going to highland games and of course wearing of a kilt. As most scotch/irish I have a strong independent streak. Which helps explains why I have been appraising for 35 years. Mind you the industry has not always been steady so I have experience in real estate sales, instructing real estate courses, general contracting, title and loan processing, independent insurance agent, and mortgage origination. However the evaluation real property seem to have been at the core of what I do for some time. That’s probably because at the core it is often difficult to determine and an accurate conclusion requires a combination of mathematics and experience. My reports differ from my competition in that I believe the three approach to value need proper consideration and that they and the use of statistical models give you a better understand and eventually support for your conclusions. I can providing appraisal reports that accurately reflects the market reaction to a property’s legal and physical characteristics. I always pride ample support for my conclusions and take pride in doing the best job I can. When I not working, I enjoy the outdoor sports such as hiking, watersports and exploring agriculture which includes chickens, gardens, tapping maple trees, fiddleheads and working on hogs and cattle.

I have identified market area that includes the towns of Waterville with the town lines being the north, south, east and...
05/31/2019

I have identified market area that includes the towns of Waterville with the town lines being the north, south, east and west boundaries.

I have defined the submarket as single family homes with 0.50 acre or less, GLA of 1,000 to 1,700 sqft build in 1970 or prior to that year.

Recently a young couple contacted me saying their newly purchase home did not have adequate WiFi.   They wanted to know ...
05/30/2019
Miracle Teenager Survives On His Own For Almost 6 Hours With No Wi-Fi

Recently a young couple contacted me saying their newly purchase home did not have adequate WiFi. They wanted to know who they could call to have that fixed.

I said "Welcome to Bristol, Maine"

IN what has been hailed as 'a miracle', one Waterford teenager has reportedly survived in his home with no connection to the internet for almost 6 whole hours. Answering to the name 'David Gowan', the 16-year-old …

Sometimes it comes down to something as simple as "integrity".
05/24/2019
The Importance of an Appraiser

Sometimes it comes down to something as simple as "integrity".

The Importance of an Appraiser Simply put, an appraiser is the only person within a real estate transaction that is unbiased and is not compensated based on a sale price or loan amount. Agents, len…

Corologic is saying that we might expect see declining prices in 2019.   We have been seeing them for several months ......
05/23/2019

Corologic is saying that we might expect see declining prices in 2019. We have been seeing them for several months ... is it just the winter dip or is it systemic problem.

What do you think?

17 metro areas across the U.S. expect to see declines in home values in 2019, and the housing slowdown is starting to affect home price appreciation on other areas of the country. See where the slowdown will have the biggest impact in our latest article: http://ow.ly/7Bmz50ulKDt

Appraised by Paterson Valuations.   Neighbors talked about using their property as an Air BnB.  Would you be concerned w...
05/23/2019
Check out the home I found in Stockton Springs

Appraised by Paterson Valuations. Neighbors talked about using their property as an Air BnB.

Would you be concerned with buying a home hear an Air Bnb??

View 28 photos for 10 Pleasant Dr, Stockton Springs, ME 04981 a 3 bed, 2 bath, 1,074 Sq. Ft. single family home built in 1900.

So it appears that corologic might have to make the MLS data they are farming off the MLS service they provide, to be pu...
05/22/2019
Explosive News: DOJ Goes after CoreLogic!

So it appears that corologic might have to make the MLS data they are farming off the MLS service they provide, to be public information including the commission paid by the seller/buyer.

The Department of Justice has sent a Civil Information Demand (CID) notice to CoreLogic. The CID requires CoreLogic turn over documents and answer questions. The article by Rob Hahn explains th…

05/22/2019
Stop the Corridor

Right .... not a good idea. Like if you agree!

Here's something we can all agree on - CMP's corridor is a bad deal for Maine. Towns all over Maine are voting against it, and 90% of Franklin County residents oppose it. Listen up politicians - Mainers don't want the CMP corridor.

The problem with taking state wide statistics and applying them to the entire state is that "sales" in Cumberland County...
05/22/2019

The problem with taking state wide statistics and applying them to the entire state is that "sales" in Cumberland County are not the same as "sales" in Washington County, Single family homes sales are are not the same as manufactured home sales which are not the same as condominium sales which are not the same as lake side property sales.

When it comes to knowing your property get an expert in your area ... not some state wide agency!

April statistics released to the media 5/21/19. For the complete report, go to http://mainerealtors.com.

Yes it has been raining quite a bit lately ...  however don't you think you might be over reacting?
05/21/2019

Yes it has been raining quite a bit lately ... however don't you think you might be over reacting?

I have identified market area that includes the towns of Northport and Lincolnville with the town lines being the north,...
05/20/2019

I have identified market area that includes the towns of Northport and Lincolnville with the town lines being the north, south, east and west boundaries.

I have defined the submarket as single family homes with 10.0 acre or less with no waterfrontage at all and GLA between 900 and 2,400 sqft.

I have identified market area that includes the towns of Northport and Lincolnville with the town lines being the north, south, east and west boundaries.

I have defined the submarket as single family homes with 10.0 acre or less with no waterfrontage at all and GLA between 900 and 2,400 sqft.

Appraisal completed by Paterson Valuations
05/20/2019
Check out the home I found in Lincolnville

Appraisal completed by Paterson Valuations

View 30 photos for 2370 Atlantic Hwy, Lincolnville, ME 04849 a 3 bed, 2 bath, 1,872 Sq. Ft. single family home built in 1895.

Appraised by Paterson Valuations
05/13/2019
16 Windsor Rd, Chelsea, ME 04330 - 3 beds/1 bath

Appraised by Paterson Valuations

(MREIS) Sold: 3 beds, 1 bath, 1830 sq. ft. house located at 16 Windsor Rd, Chelsea, ME 04330 sold for $187,000 on Apr 26, 2019. MLS# 1407949. Bright and cheerful 3 bedroom 1 bath home, playroom in lower le...

Appraised by Paterson Valuations
05/13/2019
Check out the home I found in Windsor

Appraised by Paterson Valuations

View 23 photos for 9 Stonehedge Dr, Windsor, ME 04363 a 3 bed, 2 bath, 1,814 Sq. Ft. single family home built in 2018.

The direction of "NAR Appraisal Program" can clearly be seen by the sponsors of program.   Clear Capital which has one o...
05/13/2019
President Trump to Address Realtors® at NAR's Annual Legislative Conference

The direction of "NAR Appraisal Program" can clearly be seen by the sponsors of program.

Clear Capital which has one of the worse reputations in the AMC industry for treatment of appraisers. Landy Insurance, US Department of the Treasury, a member of the appraisal board and of course President Trump.

None have shown support for appraisers. This is consistent with "National Association of Realtors" that don't even give appraisers full membership status to the MLS for which we pay the same fee as members do.

This is a organization that dictates down to appraisers.

Realtors® know there are countless opportunities for collaboration between NAR and the Trump administration to support of the housing industry, private property rights and policies that ensure the American Dream is accessible to everyone in this country.

Sales activity in Lincoln county Maine.    As of mothers day 2019. This is for non-waterfront properties that are descri...
05/12/2019

Sales activity in Lincoln county Maine. As of mothers day 2019.

This is for non-waterfront properties that are described by the real estate agent as single family homes. (So no condominiums or mobile homes)

05/11/2019
Today FM

Love the pipes... and this is a great way to see them being played.

Is this the most Irish video ever?! 🇮🇪

Simon from Sandyford just sent Ian Dempsey this clip, taken on a Gap of Dungloe tour over the weekend! ☀️

The band were on their way to a gig 😂 🎻

What is a BARN worth?Recently I was requested to determine the contributory value of “Barn”.   Which is not as easy ...
05/08/2019

What is a BARN worth?

Recently I was requested to determine the contributory value of “Barn”. Which is not as easy as my client anticipated because barns are as diverse and can be as complex as a home.

Here is my barn for example:

Real estate professionals that would replied to my request for their opinion indicated a range of $10,000 to $40,000.

Do you have an opinion as to how much a barn contributes to the sales price of a property?

Better yet share your favorite barn or share your opinion as to how you determine the contributory value of a barn?

Appraisal Institute
05/08/2019

Appraisal Institute

Nearly three-quarters of residential appraisers report completing 10 or more assignments per month. Get the details in Valuation magazine: http://ow.ly/DAuj50u1RqF

Appraised by Paterson Valuations
04/29/2019
Check out the home I found in Bath

Appraised by Paterson Valuations

View 31 photos for 111 Ridge Rd, Bath, ME 04530 a 3 bed, 2 bath, 924 Sq. Ft. mfd/mobile home built in 2005.

My son worked with me for over a year, and said he would not live being treated the way we were treated. Although he pri...
04/19/2019

My son worked with me for over a year, and said he would not live being treated the way we were treated.

Although he primarily dealt with real estate agents. 🤪

The problem AMCs are really having…is that they can’t find appraisers willing to be treated less than professionally any longer.
http://www.workingre.com/appraiser-shortage-or-just-fed-up/

04/09/2019

I have identified market area as the town of Augusta with the town lines being the north, south, west and east boundary. I have defined the submarket as single family homes with 0.50 acre or less, GLA of 1,200 to 2,200 and built in 1970 or prior to that year with no waterfrontage at all.

03/29/2019

I have identified market area that includes the towns of Bowdoin, Bowdoinham and Richmond with the town lines being the north, south, east and west boundaries. I have defined the submarket as single family homes with GLA between 1,400 and 2,200 sqft and built in 1990 or newer.

Just saying .... it could happen
03/16/2019

Just saying .... it could happen

$4.00 a dozen...  The girls thank you for your support!
03/14/2019

$4.00 a dozen... The girls thank you for your support!

03/14/2019
The Income Approach

Gross Rent Multipliers are the ratio between the sales price of real estate and what they were renting for at the time of sale.

A recognized approach to value, it has its strengths and weakness depending your market area, submarket and date your conducting the evaluation.

03/14/2019

Gross Rent Multipliers are the ratio between the sales price of real estate and what they were renting for at the time of sale.

A recognized approach to value, it has its strengths and weakness depending your market area, submarket and date your conducting the evaluation.

With the providing the MLS service, Real Estate Agents have allowed Corologic to change the MLS's focus and direction.So...
03/02/2019

With the providing the MLS service, Real Estate Agents have allowed Corologic to change the MLS's focus and direction.

Soon real estate agents will feel the pinch of loosing their position in the market place.

Meet Total Home Value for Marketing, the newest addition to the CoreLogic Total Home Value suite. Total Home Value for Marketing can help maximize a firm's prospecting capabilities by leveraging property-level valuation insight.

How can this benefit you? Click here to find out: https://bit.ly/2VtDLDG

As deregulation comes the risk factor is increasing.   After 35 years of being in this business I can assure you its the...
02/27/2019
The Danger of Saying Yes to An Appraisal Waiver

As deregulation comes the risk factor is increasing. After 35 years of being in this business I can assure you its the same path we have gone down time and time again.

The american people always pay for the cost cheap and fast in the end.

"For only $599, we will grant you an appraisal waiver to help you avoid having an appraisal that 'comes in short." ** I just saw yet another ad promoting this

So the consumer protection says ...  bankers are finding ways to skirt around real estate appraisals.   Appraisal licens...
02/20/2019

So the consumer protection says ... bankers are finding ways to skirt around real estate appraisals. Appraisal licensing was created to protect the public, now bankers have exempted half the state of Maine!

The Consumer Financial Protection Bureau released its 2019 list of rural and underserved counties, which those entities can use to determine if they are exempt from certain appraisal and ability-to-pay rules. Read more in today's Appraiser News Online: http://ow.ly/Yx9130nM5DR

01/23/2019
Appraisal Institute President Outlines 2019 Goals

Do you think the Appraisal Institute contributes to the real estate profession in meaningful way.

and why?

2019 Appraisal Institute President Stephen Wagner, MAI, SRA, AI-GRS, outlines the Appraisal Institute’s priorities for the year in the organization’s latest ...

01/17/2019
Episode 21: Excess vs. Surplus Land.mov

Just an FYI of the difference between surplus and excess land

This video is one in a short series that deals with complex property appraisal assignments. In this segment, JP McKissock takes a look at the similarities an...

What Can You Say to Appraisers?Arrrrgh! Another off-base appraisal, you think! When that happens, what’s OK to say, an...
01/04/2019

What Can You Say to Appraisers?

Arrrrgh! Another off-base appraisal, you think! When that happens, what’s OK to say, and what is it best to avoid saying? Watch NAR Legal’s Window to the Law video for answers to those questions, plus best practices for working with appraisers.

10/30/2018

I have identified market area that includes the island of Vinalhaven.

I have defined the submarket as single family homes with no waterfrontage at all.

The graphs show over supply, relatively stable sales prices and a marketing time of at least six months on average.🤔

10/28/2018

I have identified market area that includes the towns of Appleton, Lincolnville and Hope with the town lines being the north, south, east and west boundaries.

I have defined the submarket as single family homes with 10.0 acre or less with no waterfrontage at all

10/24/2018

I have identified market area that include the counties of Lincoln and Knox the county lines being the north, south, east and west boundaries. I have defined the submarket as single family homes with GLA of 800 sq.ft. or more and listed for $100,000 or less.

The intent is to find properties in fair to poor condition.

So $15.00 equates to $600 a week. Local stores in downtown Damariscotta are pay $15.00 a hour.   While its a good start ...
10/04/2018
Amazon to Raise Minimum Wage to $15 for All U.S. Workers

So $15.00 equates to $600 a week. Local stores in downtown Damariscotta are pay $15.00 a hour.

While its a good start the owner "Jeff Bezos" just made Forbes wealthest person list with 160,000,000,000 in network.

I was sort of expecting more to be honest.

The company also said it would lobby the federal government for a higher minimum wage.

For those that can lend a hand it would be greatly appreciated.
10/01/2018
Repair the Shaker Hay Field

For those that can lend a hand it would be greatly appreciated.

Saturday, October 13, 2018 | 9:30am until the work is done We send our heart-felt gratitude to each and every person in our community who has expressed concern, outrage, and a willingness to help …

Corelogic is getting into everything!
09/28/2018
CoreLogic

Corelogic is getting into everything!

MyRental™ from CoreLogic® offers tenant screening solutions to help agents and brokers identify top-quality applicants. Schedule your demo today!

I have defined the market area as a portion of the town of Damariscotta, Newcastle and Nobleboro their town line being s...
09/18/2018

I have defined the market area as a portion of the town of Damariscotta, Newcastle and Nobleboro their town line being south, east, west and north boundary.

I have concentrated on the subject market which I identified as single family homes with 15 acre or less of land with 1,100 to 2,800 sq.ft. of GLA as defined by the MLS and was built in 1970 or later.

I have identified market area to include the towns of Berwick, the town lines being the north, south, east and west boun...
09/11/2018

I have identified market area to include the towns of Berwick, the town lines being the north, south, east and west boundary. I have defined the submarket as single family homes with 1,400 to 2,500 sqft of GLA as defined by the MLS service built in 2000 or older with 5 acres or less of land.

Do you have a office parrot?  I find the politics can confusing sometimes. However its nice to have someone to socialize...
08/24/2018

Do you have a office parrot? I find the politics can confusing sometimes. However its nice to have someone to socialize with!

Worth sharing !
06/26/2018
Maine Farm Bureau

Worth sharing !

We are proud of our members Donald and Dorothy Fitzpatrick on being named Farm Family of Year by the Maine Potato Board. Donald planted his 66th crop this year, and at times has been joined by four generations of his family working the harvest. Congratulations on all the hard work, and thank you for being a member of Maine Farm Bureau!

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477 Mouse Lane
Alfred, ME
04002

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