Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California - Pages

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Wednesday, February 19, 2025

Appraisal of Fire Damaged or Destroyed Properties for Insurance Purposes by Appraisal Institute by Mary Cummins


Attended the Appraisal of Fire Damaged or Destroyed Properties for Insurance Purposes webinar given by Charles Baker, SRA, AI-RRS with the Appraisal Institute. Webinar description: "The urban fires which swept through much of Los Angeles recently have resulted in significant losses of life and property. Economic loss estimates are in the range of $135 to $150 billion but could easily go higher. It is estimated that around 10,000 structures have been destroyed. In the wake of these fires there will be a huge need for timely, accurate, and professionally prepared real estate appraisals for insurance purposes. The Southern California Chapter of the Appraisal Institute will present a two-hour webinar addressing this topic. The webinar will provide participants with vital information on the appraisal process." 

Really good class covering important issues related to post fire appraisals. Charles included a few case studies which were really informative. #charlesbaker #appraisalinstitute #postfireappraisal #marycummins #realestateappraiser #fireappraisal #realestateappraisal #insurance #casualtyloss I included first six slides. Slide deck will be available at Appraisal Institute. 

Fire appraisals are basically just regular appraisals with more of a concentration on cost approach if the building has been destroyed. If the home has been totally destroyed, forensic analysis is needed to "reconstruct" the building. You can use original plans, old photos, MLS listings, old satellite images, Google street view, Bing satellite maps, Building and Safety records and other sources to reconstruct the building. Then you reconcile the sales comparison, cost approaches and income approach if appropriate for the final pre-fire, post-fire, cost to replace or whatever value was requested. 







Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.


Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin

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