Fortier Mattila Appraisals Inc. has been completing residential appraisals in Saskatchewan since 1971. Our residential valuation team is proficient and experienced in the valuation of:
- Apartments (Multi-Family)
- Condominiums (Click for reserve fund studies)
- New Construction
- Recreational (Lake Property)
- Single Family
A) Direct Comparison Approach – In this approach, recent sales of similar properties are analyzed. Location, age/condition, liveable floor area, design are of particular importance when selecting comparable sales. These sales are then compared to the subject property and adjusted for differences. The adjustment reflects the likely market reaction to the difference between the subject and each of the sales. After adjusting each of the indicators a final estimate of value is determined.
B) Cost Approach – The estimated cost to construct the residence is then determined through analysis of current construction costs and sales of new construction. The contributory value of the extra features is then estimated though a comparison of cost and market indications. An appropriate depreciation rate is developed and applied to arrive at a final estimate. The depreciated value is then added to the value of the raw land that was estimated using the Direct Comparison Approach.
C) Income Approach – In this approach, the actual and market rental revenue streams of a property are analyzed. Vacancy, bad debt and typical expenses are subtracted to estimate net operating income. Comparable sales are identified to which the relationship between sale price and income is analyzed. A market derived capitalization rate or income multiplier is applied to the subject to estimate market value. For residential appraisals the income approach is more often completed on multi-family type properties than on single family dwellings.
Our residential reports are commonly used for:
- First Mortgage Placement (Purchase Financing)
- Equity Financing (Refinancing)
- Construction Financing (Proposed Valuation and Progress Inspections)
- Re-sale purposes (Vendor pre-marketing reports)
- Employee Relocation
- Capital Gains and Financial Planning (Including Retrospective Valuation)
- Litigation (Arbitration, Foreclosure, Divorce, Estate)
- Expropriation (Compensation)
- Insurance Claims (Actual Cash Value and Replacement Cost)
Our office has appraisers approved by appraisal management companies, national financial institutions and regional and local credit unions, mortgage brokers, relocation companies. We complete work for various municipal, provincial and federal government organizations including Saskatchewan Department of Highways, Saskatchewan Ministry of Agriculture, Public Works and Government Services Canada, RCMP. We also complete litigation assignments for various local, regional and national law firms.
Appraisal Institute of Canada Licensed Residential and Commercial Appraisers. Our professional team of 9 includes; (3) AACI, P.App designated appraisers; (2) CRA, P.App (Canadian Residential Appraiser, Professional Appraiser) designated appraisers, dedicated office manager, research manager and 2 office administrators. Our valuation team is comprised of appraisers and staff with backgrounds in statistics, economics, and construction. All residential assignments are completed by licensed members of the Appraisal Institute of Canada. In summary, accredited members of the Appraisal Institute of Canada have a 4 year bachelors degree, 7-15 real estate courses through UBC, guided case study, minimum 2 years experience, written and oral examination. Information about our appraisers is as follows:
Pricing, Timelines and Report Inclusions
Offices located in the Battlefords, Kindersley, Meadow Lake, Prince Albert, Saskatoon, and Warman, results in reduced timelines, decreased mileage charges, competitive pricing, and most importantly local experts. We are proud to offer all inclusive pricing on all of our projects which includes travel, mileage, inspection, report writing and submission. Our office uses a combination of expertise, technology, and collaboration to ensure projects are completed on time and on budget. As our office has a staff of 11 including 7 appraisers and 4 full time office staff our timelines are significantly reduced, and we are often able to accommodate tight deadlines for residential appraisals. For more information on what is included in our residential appraisals: Residential Appraisals – What we provide
Service Area, Requesting services
The map below shows Fortier Mattila Appraisals Inc. offices across the province. To order a residential appraisal click Request Quote to complete our online appraisal request form, or you can contact our office at 1-844-937-5073.