Greg T. Colton, IFA
Education: Basics of Appraisal, Real Estate Analysis, Sales Comparison Approach, Cost and Income Approaches and Appraisal Standards and Ethics through the Education Division of the Maryland Association of Realtors. Graduate of Courses I, II, III, and IV through the Realtors Institute of Maryland. Graduate of Courses I, II, and III through the Education Division of the Realtors National Marketing Institute. Advanced Residential Real Estate Appraising, Real Estate Principals and Real Estate Mathematics and Financing through Prince George's Community College. (Course list does not include continuing education.)
Licenses, Designations and Associations: Maryland State Certified Appraiser #03-7942, Designated Member - National Association of Independent Fee Appraisers (IFA), Member - Maryland Association of Appraisers (MAA), Maryland State Licensed Associate Broker #83710, Approved FHA/HUD Lender Select Appraiser, Certified Residential Specialist (CRS) #8488, Graduate of Realtors Institute (GRI), Member National, Maryland and Prince George's County Associations of Realtors, Member Maryland/DC CRS Chapter.
Greg has personally appraised or supervised the appraisal of thousands of properties of various types since commencing appraising full time in 1992. Assignments have consisted of appraisals for the purpose of FHA and conventional financing, equity financing (home equity loans), estates, relocation, market appraisals for listing and pre-sale and REO/foreclosure properties. These appraisals have included the appraisal of existing homes, multifamily dwellings, new homes per plans and specifications, waterfront and rural properties, estate homes, lots and acreage. Greg's prior experience in selling over 300 homes of various types and circumstances, his involvement in home construction and rehabilitation, investment in and management of many investment properties and his involvement in land development and rezoning pertaining to several local parcels have all contributed to his thorough and in-depth knowledge of property appraising and valuation. This is the foundation on which he is currently able to perform accurate, competent and timely appraisal reports in accordance with USPAP and many lender/client specific guidelines.
All inspections are performed by licensed/certified appraisers including the inspections of all of the subject and comparable properties reviewed in the preparation of each report.
A rough draft of each appraisal is turned over for thorough review by Greg T. Colton, IFA, company owner and president. Areas of particular focus in the review are the accuracy of the data utilized, verification of data, appropriateness of the data utilized, completeness of the report and the accuracy of the reported estimate of market value conclusion. All factual, judgmental and technique issues are thoroughly reviewed as well as adherence to USPAP guidelines.
A final draft is then printed and assembled for final review and signature and delivered in accordance with client instructions, usually via email or other online delivery platform. Full color, printed reports are always available upon request.
OVERVIEW OF OPERATING AND QUALITY CONTROL PROCEDURES:
Upon receipt of appraisal requests, all appraisals are logged into our Alamode (Win Total) Aurora appraisal software and management program. This leading edge appraisal software program not only allows for the tracking and management of appraisal orders and is fully EDI capable, but also produces a high quality, professional report backed by an appraisal review module which applies nearly 1,200 appraisal rules to each report and prompts the user for any explanations or inconsistencies that it detects.
Assignments are only accepted for property types and locations in which we have a good data access as well as an informed, working knowledge of the area.
EDI Capable and Ready
The Colton Appraisal Group has undergone an extensive technology review process. Our computer network is leading edge with full automated backup capability, power supply management and backup, redundancy in many areas to ensure data safety and security. Additionally, all of our appraiser's utilize digital photography combined with the leading edge Aurora version of Alamode's Win2000 appraisal software. We are fully ready and capable of receiving requests and transmitting reports via EDI in a wide range of formats. Scanners combined with Adobe Acrobat Professional enable detailed and organized data and work file management. Anyone requiring additional information as to the EDI transmission of reports, feel free to contact our office by phone or email. We will be happy to answer any questions you may have or assist you in setting up your own password protected login account on this site to further your productivity and increase profits.
Just For Fun!
The Definition of an Appraiser: "An appraiser is someone who complies and analyzes voluminous data of problematic accuracy from sources of dubious veracity and derives therefrom a numerical quantification of unquestionable necessity, analogous to a nebulous and euphemistic concept representational of value commensurate with ambient configurations of the open market and promulgates thereby a precise written declamation which delineates his/her observation, deliberation and conclusion, all done while he/she feigns absolute ignorance of the avaricious machinations of buyers, sellers, brokers, and lenders, compensated only by that penurious stipend known as the professional fee."