Your host, Richard Stegman, was raised in Bellevue and graduated from Bellevue High School in 1974. He then went on to earn several college degrees (from the University of Toledo, Bowling Green State University, and Salve Regina University), worked in higher education, which included service as a university dean at two universities. Rick has also worked at University of Delaware, The Pennsylvania State University, Drexel University, Roger Williams University, and his final school, The University of Wyoming.
During his 28 year tenure in higher education Rick had the opportunity to teach classes and to supervise University departments responsible for a wide array of student affairs offices, including the hospitality area by overseeing student housing , conference services, and dining operations. He has presented at regional and national conferences on topics regarding staff development, team building and strategic planning, to name a few.
After a 32 year absence from his hometown, he decided to retire early, return home, and follow a two decade old dream of opening a Bed and Breakfast, including hosting weddings and other functions. Rick has a tremendous love for antiques, for people, his family and for his community. His Bed and Breakfast allows him to follow all these pursuits. Additionally, Rick has traveled extensively in North America and Internationally, His personal and professional experiences allow Rick to combine the amenities of a premier hotel and lodging facility with the personal attention and exquisite esthetics afforded by a small historical Inn. His appreciation for diversity and socializing with people from many different backgrounds is also an essential component for a welcoming Bed and Breakfast.
. . . . experience The Victorian Tudor Inn!
A competent appraisal report has the following elements contained in it:
A cover document explaining in detail what type of value is being sought (“purpose”) and how the appraisal is to be used (“function” or “assigned use”).
The methodology and resources relied upon, including market analysis and market(s) selected.
A complete accurate description of property written in such a manner that it can be identified without photographs.
The date(s) and location of inspection, and the effective date of value.
A statement by the appraiser that he or she has no financial interest in the property of that such interest is disclosed in the report.
The appraiser’s qualifications and signature.
Do not accept an appraisal if...
It is handwritten or unsigned.
The fee is based on a contingency or upon the value of the property.
The appropriate "purpose" and “assigned use” are not stated.
The item is beyond the appraiser's expertise.
the appraiser is not willing and able to defend it in court (subject to the appraiser's availability, and separate fee arrangement).
Some essentials for every appraisal...
Name and address of client requesting appraisal.
Name of owner of property if different from above.
“Effective” date of appraisal.
Type of appraisal (i.e. fair market, retail replacement, diminished value, etc.).
Definition of the appraisal terminology.
Intended use or purpose of the appraisal.
Description of items including all pertinent information necessary to distinguish appraised item from other like items.
Condition of item (e.g. “as is”, etc.) if applicable.
Value of the items based on specified marketplace.
Methodology used in determining value.
Signature of person or persons who made the valuations.
Statement of compliance to USPAP codes.
A statement of any limiting conditions or assumptions, if applicable.
How to find an appraiser and asking the right questions:
Whenever there’s a question about the value of your personal property, there's also a risk involved. It may be the risk of selling too low, or of paying too much, the risk of being under or over insured, the risk of not getting your fair share in a division of property, the risk of incurring tax penalties or being audited when claiming a deduction for charitable contribution or when calculating estate taxes.
A professional appraiser helps you manage these and other such risks by providing a written opinion of value, upon which you can base your financial decisions.
Rather than just being an educated guess, the professional appraiser's value conclusions are based on prescribed methods of evaluation, research, and report writing.
Below are some of the questions and concerns that a consumer should be aware of and should consider asking a potential appraiser before hiring them to appraise property of any value.
“What qualifies you to appraise my property?”
A qualified appraiser has formal education in appraisal theory, principles, procedures, ethics, and law. The appraiser should be up to date on the latest appraisal standards. Continuing education and testing are the only ways to insure this competence.
The appraiser you hire should be familiar with the type of property you want appraised and know how to value it correctly.
Expertise on a particular type of property is not enough if the “expert” does not know how to evaluate an item for its appropriate worth. Without appraisal training, these “experts” have no way of understanding the complicated variety of marketplace definitions that are used to determine appropriate values for appropriate uses.
“Do all appraisers have similar qualifications?”
No. In most states anyone can claim to be an antique appraiser, whether they have had formal training or not. It is important to ask the prospective appraiser what type of formal appraisal education training he or she has received. Obtaining a copy of the appraiser’ professional profile or resume can help you evaluate the appraiser’s credentials.
“How do you handle items which may be outside your specialty area?”
No appraiser should claim expertise in everything. A good appraiser knows his or her limits, and is expected to consult with other experts when necessary.
“What is your fee and on what basis do you charge?”
DO NOT hire an appraiser who charges a percentage of the appraised value, or charges a “contingency” fee. These practices are clearly conflicts of interests, and may result in biased values. The IRS will not accept an appraisal done with such fee arrangements. DO NOT PERMIT AN APPAISER TO MAKE AN OFFER ON AN ITEM HE/SHE HAS APPRAISED.
“What will the appraisal report be like?”
You should receive a formal, type written report that presents the information you need in a complete and organized way.
Did you know.....
...that the same item may have many different appraised values depending on how you intend to use the appraisal? For instance, a value for insurance may be very different than a value for estate tax, consumer resale, or charitable contribution. Other assigned uses include investment, liquidation, price confirmation, equitable distribution, loan collateral, casualty loss, and many more.
Qualified, educated appraisers understand the many different types of values, assigned uses, and market levels. He or she works with you to choose the proper type of value so that you can u se the appraisal correctly and effectively.