George Kabase has been a residential appraiser with Boney and Johnson Appraisers since 1996.
WHAT DOES HE DO?
Kabase does appraisals for lending institutions or individuals to determine the value of homes for sale, refinance, home equity loans or pricing purposes.
AREA HE FOCUSES ON?
Duval, Clay and St. Johns counties.
WHAT’S GOING ON IN PROPERTY VALUES?
“Property values are definitely going up. In Jacksonville especially, appreciation is rapid. The beaches has out performed most other areas of town, but now I think other areas of town are starting to catch up, percentage-wise.”
MARKET VALUE?
His job is to find the market value of a home. “Market value can be defined as the most a probable selling price for an informed buyer or seller.” When he does an appraisal, he compares a house with three other sales that have taken place recently in the area.
“We make adjustments for the size, age, condition and lot size. Then we compare it to the other houses and come up with three adjusted values. Then we have a value range and the market value should fall somewhere in between. In an appreciating value, it may fall toward the upper end of the value range. It’s not really an average price, we just try to analyze all the market value.”
HOW ARE REALTORS IMPORTANT TO YOU?
“Realtors are very important. Most Realtors have a good knowledge of the market and they’ve seen the houses I’m comparing one to. They can refer us to clients who are trying to find the value of a house. Normally, when the client applies for financing, the bank will contact us, but Realtors can recommend us to see what the appraised value should be.”
WHAT CAN REALTORS DO TO HELP YOU?
“They can give me accurate information about the house.”
COLLEGE?
He has a bachelor’s degree in building construction from the University of Florida.
HOW DID HE GET INTO APPRAISING?
He graduated from college and looked for a job in construction management, but couldn’t find the job he wanted. He had a friend who owned their own appraising company. “He asked me to work for him for a couple months until I found the job I wanted and the rest is history.”
HOW DOES YOUR KNOWLEDGE OF BUILDNG CONSTRUCTION
HELP YOU NOW?
“It helps me have a better handle on the condition of a house and the price it may take to fix up a house. It helps me to distinguish the price between a remodeled house and a decrepit house.”
RESIDES
Neptune Beach.
PERSONAL SIDE?
He is single and when he is not working he enjoys surfing, skiing, working out and attending Jaguar games. His favorite book to read is the Bible. His favorite move of all-time is “Animal House.” When relaxing at home, he likes to tune into “24”. When traveling, he enjoys Costa Rica and Park City, Utah. When dining out he enjoys Al’s Pizza.
— by Michele
Newbern Gillis