Appraisal Sciences is a full service appraisal organization founded in 1981 by Robert E. Francy, F.A.S.A. (1930-1998).  The business is presently owned by Appraisal Sciences, L.L.C., an Arizona limited liability company formed by Steve Laney and his wife.  Mr. Laney, an Arizona Certified General Real Estate Appraiser, was employed by Appraisal Sciences, Ltd. from August, 1990, until the time of his purchase of the business.  He is currently the chief appraiser and managing partner of the company.

As in the past, the company remains committed to professionalism and continues to offer excellent appraisal services.  This commitment to professionalism, as well as the numerous sources of vital data and state of the art equipment maintained by the company, enables Appraisal Sciences to complete virtually any size or type of appraisal assignment efficiently and in a timely, competent manner.  To successfully complete appraisal assignments, the company has multiple sources of comparable sales and costing information, a team of experienced appraisers and, of course, necessary word processing capabilities.  As always, you can expect any appraisal report submitted by Appraisal Sciences to meet or exceed the Uniform Standards of Professional Appraisal Practice as adopted by the Appraisal Foundation, as well as the Uniform Appraisal Standards for Federal Land Acquisitions as published by the Interagency Land Acquisition Conference.

Appraisal Sciences has proven that it is capable of completing virtually any size project with accuracy and efficiency.  The company has extensive experience in appraising properties located throughout the State of Arizona, with numerous projects varying in scope of work, property type and number of parcels having been completed.  Over the past several years, Steve Laney has managed many of the larger appraisal projects, and in fact, Mr. Laney was the top producer for the company in terms of appraisal work product completed for several years prior to his purchase of the business.

Types of property appraised consist of virtually all classes and kinds of real estate, vacant and improved, including farm and ranch property, rural residential land, urban residential (single family and multiple family) properties, commercial properties, industrial properties, and special purpose properties.  Examples of special use properties appraised include cotton gins, bakeries, dairies, municipal structures, service properties, and airport/airport expansion projects.  Master planned and mixed use developments, in part and as a whole, have also been appraised by the company for developers and condemning authorities.  In addition, preparing feasibility studies or appraising partial interests in real property are not unfamiliar challenges for the company.

Since its inception, a fairly significant portion of the appraisals produced by Appraisal Sciences have evolved from the application of eminent domain rights by various governmental and quasi governmental agencies.  We also perform numerous appraisals for banks, lenders, insurance companies, attorneys, large corporations, and private clients.  Appraisals have been completed for government entities for virtually all types of acquisitions for public improvement projects.  Clients for which eminent domain appraisal work has been performed include a number of law firms, private clients, federal, state, and local governments, as well as quasi governmental agencies.  Rights of way and easements for roadways and public utilities are often the reason for these appraisals.

Rights of way appraised include limited access freeways, state and county highways, arterial streets, secondary streets, road widening projects, new alignments and roadway extensions, flood control projects, railroads, powerlines, pipelines, canals, ditches and air rights.  Fee simple acquisitions, both total and partial, for pipeline easements, powerline easements, utility corridors, slope easements, drainage easements and temporary easements have all been appraised.  Partial interests in real property, such as leaseholds and tenant improvements, are also appraised on a regular basis.

One of the larger assignments completed by the company entailed the appraisal of nearly 1,000 parcels for three of the largest irrigation districts receiving Central Arizona Project water within Arizona.  This work involved the appraisal of desert land, commercial property, industrial tracts, farm land and residential land.  The appraisal reports were reviewed at all levels of the federal government, including the Bureau of Reclamation, Department of Justice, and U.S. Attorney's Office.  All of the appraisals were completed on time, and all construction schedules were met as a result.

One of the more complex appraisal reports completed for the State of Arizona was an appraisal of the Grand Canyon National Park Airport for the Aeronautics Division of the Department of Transportation.  This appraisal provided a total valuation of the airport property for state planning purposes and included valuations of the site itself, a significant amount of recently installed infrastructure, several machinery and equipment items, all state owned improvements, all tenant improvements, and an analysis of the reasonableness existing ground leases.  It is believed that Appraisal Sciences is certainly one of the very few appraisal companies that has the experience and expertise to provide an accurate appraisal of such a unique property.

Another complex appraisal report completed recently for the Arizona Department of Transportation was the appraisal of one of the largest dairy operations in the state, the Triple G Dairy in Glendale.  This appraisal included the valuation of two dairies, operated as a single facility, for a partial taking of the property for the Agua Fria Freeway project.  Thus, this was a before and after appraisal of both the land and the specialized improvements, including the valuation of the whole, the part taken, the remaining property, an estimate of severance damages, and separate allocations of value to land and improvements in all the valuations.

As noted, a great deal of the appraisal work done by Appraisal Sciences has involved partial takings of property for some public purpose.  As a part of the appraisal process, it is necessary to consider the presence and extent of severance damages and/or special benefits when only a partial acquisition is to be made.  In determining the presence and extent of either severance damages or special benefits, a detailed analysis of similar properties in the subject market and a clear understanding of the factors affecting value is paramount.  The appraisal team has consistently proven the ability to accurately assess the affects of partial takings upon the remaining property value.  In many cases where damages can be measured, the possibility of cost effective curative measures exists.  The ability to determine the feasibility of a possible cure and an accurate measure of the costs involved requires an analytical ability and common sense approach, combined with a thorough understanding of construction costs and techniques and, when necessary, consultation with experts in other fields.

Measurement of damages and/or benefits have been routine for Appraisal Sciences.  All such conclusions are based on market evidence, carefully researched and analyzed to provide documentation in support of any conclusions reached as to either severance damages or special benefits.  In many cases, extensive studies have been performed to provide this evidence in a form which is easily understood.  Research into damages and benefits has been made relating to access control, parking ratio studies, proximity to the public improvement, land to building ratios, building setbacks and other matters.  Complete before and after appraisals are typically the rule rather than the exception for appraisals performed by our company.

In addition, Appraisal Sciences has a wide range of experience in providing appraisal review services and analyses of counter offers from private property owners in regards to various government entities and their agencies' offers to purchase property.  Past and present clients include the Arizona Department of Transportation, Arizona State Parks, Arizona Game and Fish Department, City of Phoenix, City of Scottsdale, Town of Gilbert, Maricopa County, and Graham County.  These types of services include formal appraisal reviews following the guidelines and requirements of the Uniform Standards of Professional Appraisal Practice, more informal letters of opinion regarding appraisals that the agency/entity has been provided by property owners, letters expressing opinions of the reasonableness of counter offers from property owners, and personal consultations.

Appraisal Sciences is also qualified to provide appraisals of machinery, equipment, and tenant owned improvements which might be associated with the real estate being appraised.  Replacement cost and depreciation studies have been prepared for major office developments, airport facilities and community structures of several types.  The appraisal of machinery and equipment items has been performed for the Internal Revenue Service, U.S. Marshall, FDIC, National Parks, the State of Arizona, Maricopa County, Pinal County, the Cities of Phoenix, Tucson, Mesa and Glendale, the Grand Canyon National Park Airport, Anaconda Company, Anderson Clayton Corporation, Circle K, Del Webb Development, Empire Machinery, Holsum Bakery, J.R. Porter Construction, Mobile Mini Storage, O'Malley Companies, Redburn Tires, Slurry Seal Arizona, Wheeler Construction, and various banks, lenders, attorneys and insurance companies.