video1.0<iframe src="https://www.loom.com/embed/b67023fd18d94394b41cbeacdc9088b1" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/b67023fd18d94394b41cbeacdc9088b1-e4b7e25cbad622bc.gif299.476In this video, I walk you through the Cost Approach tab, which can be a bit tricky for appraisers to grasp. We utilize data from the Craftsman Cost Manual to generate cost new estimates and depreciation for our subject and comps based on various factors like square footage and quality rating. I emphasize the importance of determining the site value, which we can estimate using the site extraction method by analyzing the sale prices of our comps. I also demonstrate how adjusting the quality rating and effective age impacts our calculations. Please take note of these adjustments as you work through the cost approach for your appraisals.