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Show B-8 The Park Record WedThursFrl, July 28-30, 2004 ... . . t Iriefs MAIEKETIP1LA(S Appraisers see value, not just property Lifetime familiarity with Park Crty helps to estimate true cost By JENNIFER McKENNA Record Guest Writer "There is no such thing as absolute value in this world. You can only estimate what a thing is worth to you." - Charles Dudley Warner The business of property appraisal lies somewhere between an art and a science.' Zach Griffith, of Park City's Resort Appraisal Service, says he uses a combination of the two to estimate a property's value. Though there are dozens of state regulated forms and grids for property value, Griffith has realized real-ized that Park City homes require personal visits and, attention to every detail. "There's no way you could nail down a form; it's so diverse," he says, which means he and his staff must study each property for its unique qualities, and make valid comparisons. Resort Appraisal Service has operated in Park City for more than ' 10 years, and was begun by Kevin Weed. The business' success, says Griffith, is owed to the accessibility of its appraisers, their integrity and a three-to-five business day turnaround turn-around on appraisals. Business has exploded, prompting the opening of offices in St. George and Salt Lake City. With "Baby-Boomers" starting to retire, said Griffith, many are looking for second homes in resort locations. Although appraisers serve the needs of homebuyersowners, they have a primary responsibility to the bank. "They trust us. We are the eyes for the bank," said Griffith. "We have to tell them if there's anything wrong with the property, the good and the bad." "Everything has a value," said Griffith, yet Park City homes and properties pose a unique challenge. Unlike the rest of Utah, which Griffith said ranked 50th in the country for property and home appreciation values recently. Park City enjoys a healthy increase in values. As a Park City High School i 4 r - GRAYSON WESTflAWK RECORD Zach Griffith of Park City's Resort Appraisal Service knows that Park City real estate is more complex than the average piece of property, and evaluates it accordingly. graduate, Griffith has in-depth knowledge of the complex market of Park City. An average estimate of a home might be based on square footage, says Griffith, but Park City homes require a much more multifaceted analysis. Location, acreage, con- the market, different neighborhoods, neighbor-hoods, the quality of construction, knowledge of materials, and construction con-struction costs," said Griffith. Whether it's assessing the value of basic condominiums or ski-inski-out multi-million dollar homes, Griffith and his staff are tightly connect- ed to the local It'c uon Hiffinult tn imHorctanH tho real estate. ii u ruir unfitlift lu uuuuriiunu uru , . . . ' bank and lend- market, different neighborhoods, the ing communi ties. "We work with very knowledgeable realtors. We feel lucky they trust us and use us, said Griffith. "Our mountain resort quality of construction, knowledge of materials and construction costs. " - Zach Griffith Resort Appraisal Service struction materials and accessibility are the major components of value. The uniqueness of homes here, says Griffith, creates an entirely new category of value. "It's very difficult to understand knowledge of properties is unmatched." Although technology has eased some of the burdens of the industry - most of the numbers are now transmitted paperlessly - Griffith's job is still a demanding one. "I live and breathe this stuff," he said, and that may mean working on Christmas Day. snowmobiling up to a home, or mountain biking to view a property. "It's challenging." said Griffith, and realtors, banks and home sell-, sell-, ers and buyers rely on appraisers for an accurate appraisal. "Every property is different. Every day is different. You have to maintain a high energy level. There is a lot of pressure to perform, a lot of stress and deadlines." Being the "last cog in the wheel" for real estate deals, Griffith says he and his staff "work until it's done." "We have a great, supportive staff and team. We work really well together. It is reflected to our clients. We have a close knit family relationship," said Griffith. For more information on property proper-ty appraisals fr om Resort Appraisal Service, contact Zach Griffith at (435) 313-3497 or log on to w w w. resortappraisal. con i The Spa at Hotel Park City to pamper the Peace House r Guests to the Spa at Hotel Park City will have the chance to help t residents of the Peace House, a shelter for domestic abuse, by donat-; donat-; ing all of their unused and unopened hygiene products to the shelter. To say thank you the Spa at Hotel Park City will give customers $1 off a spa treatment for every product donated, up to $30 dollars towards a treatment of more than $100. At the end of the week, the Hotel will J also match the donations with additional products from the Spa. ' To 'Pamper the Peace House," customers are invited to bring skin care products such as soaps, lotions, oils and cleansers, hair care prod-. prod-. ucts like shampoo and conditioner, hygiene products, make-up and fragrances fra-grances to the Spa ' ' ; Sundance Institute names director of external affairs ; Ken Brecher, executive director of the Sundance Institute,' announced the appointment of Cynthia J. Wornham as Sundance Institute's new director of external affairs, effective this fall. Wornham, who is currently an executive vice-president of Ruder Finn Arts & Communications Counselors, has broad experience as a strategic communications and media relations professional working with nonprofit organizations and private corporations. v In this position, Wornham will oversee all strategic communications communica-tions initiatives and media relations programs related to Sundance institute, the artists it supports and their work. The position will be responsible for the development, organization and implementation of Sundance Institute's external affairs activities in support of its pro-, grams. The new position will also support Institute initiatives related to marketing, community relations and publications. . Wornham brings more than 20 years of communications expert-' ence. During her five years with Ruder Finn A&CC, she has man- aged communications programs for the Los Angeles Philharmonic and their new homes. HUD publishes new rules , As part of an ongoing effort to curb predatory lending and increase n accountability in its mortgage insurance programs, the Department of ? Housing and Urban Development recently published a final rule that i makes lenders accountable for appraisals on mortgages insured by the . Federal Housing Administration. The rule becomes effective Aug. 19. The final rule, "Lender Accountability for Appraisals," makes lenders m accountable for the quality of appraisals performed by the appraisers the lender hires. The rule will help assure that homebuyers receive accurate statements of appraised values on homes they purchase I using FHA mortgage insurance More information about HUD and its programs is available at ' www.hud.gov and espanol.hud.gov. , f "W'V J1 Jiwm J f . . flSMilFliUliUli'ai, ? -a ' 1 4 , PREVENTING CHILD ABUSE AND NEGLECT doesn't just mean reporting it. Instead, yu can ne'P stop it before it ever starts. With everything from simply helping a parent with errands or babysitting to supporting parenting programs in your community. Find out the many ways you can hllp at .www.preventchildabuse.org or C5m 300-children. A CHILD IS HELPLESS. fU ARE NOT. T Pravtnt Child Abuse 141. America sT5 i) 0 i it Q o S 8 8 ii a n u o n o " n in V, n " Vi " o " V " 'III n St n ii t " " .. 1 y j "11 'V v ; Ji 1 inn ii mw: htJiyV".fe' tV |