Have you ever imagined what it might be like to appraise your favorite sports stadium? USPAP competency rule aside, it would surely be an interesting and challenging assignment—not to mention profitable. We recently asked you, our appraisal community, “Which sports facility would you like to appraise?” Below we share your answers as to which venue you would choose (and why). Dan Bradley and Jo Traut share their answers, too.
Which sports facility would you like to appraise?
1. Other (30%)
Lots of you had your own ideas about what sports stadium or facility you’d love to appraise. Here are some answers from the many appraisers who went off-list and answered “Other”:
CenturyLink Field (Seattle, WA)
“I’m a huge football fan. Especially when it comes to the Seahawks. It would be a dream to have the opportunity to complete an appraisal on such an amazing property.”
Yankee Stadium (Bronx, NY)
“I grew up as a Yankee fan, and they are still my favorite sports team.”
Camden Yards (Baltimore, MD)
“Camden Yards holds a special place in my heart. Not just because it is home to my favorite baseball team, the Baltimore Orioles, but also because it is where my wife and I held our wedding. We had our ceremony on the flag court overlooking the field, and our reception took place in the 100+ year old B&O Warehouse right behind the right field wall. The charm that comes from combining the old with the new at Camden Yards is what makes it so compelling, especially to an appraiser. You can dig deep into the history of what was there before and how things have changed since its construction. Walking through the Warehouse is almost like walking through a time machine as they have preserved a lot of the brick and framing from the original structure. It is also worth nothing that finding comps to include in the report shouldn’t be too hard. A lot of the ballparks built since it opened in 1992 have tried to replicate the look and feel that makes Camden Yards so special. Appraising Camden Yards would be a dream come true. It would also be one heck of a day at the office.”
Field of Dreams (Dubuque County, IA)
“Open fresh air stadium adjacent to rows of summertime cornfields and a quaint two-story Iowa homestead, etc.”
Roman Colosseum (Rome, Italy)
“Go big or go home.”
2. Pebble Beach Golf Links (20%)
“Pebble Beach Golf Links would be an interesting property to value because of its location, physical characteristics and economic performance. Although it’s very expensive, it’s one course I don’t mind paying for because it’s just so beautiful and unique.”
“I’d be forced to play the course to gain geographic competency.”
“A perfect combination of beauty and work!”
3. Fenway Park (18%)
“Fenway Park in Boston, MA would be a very interesting subject property. Due to its unique architecture, non-typical field dimensions, the unique infamous left field wall and its location smack in the middle of the city surrounded by buildings and the highway! A couple of good comps would be Yankee Stadium in NY and Wrigley Field in Chicago. All in all Fenway Park would be a fun and interesting subject property. But without a doubt, a complex assignment! Go Sox!”
“Historic buildings offer some interesting appraisal questions given that they rarely change hands and are challenging to recreate.”
“It’s legendary. Home to the Green Monster.”
4. Churchill Downs Racetrack (11%)
“Historic significance, open land, conversion to other uses.”
5. Madison Square Garden (9%)
“Iconic property on top of Penn Station.”
“I think the complexities of a city are always so interesting when looking to appraise a property. The demand for space is high and supply is so low that multiple factors have to be taken into account. It would be interesting to know if the value has come down since the Knicks started playing terrible basketball.”
6. Lambeau Field (5%)
“Moving from Wisconsin to do appraisals in Minnesota, it would be great to go back and appraise Lambeau Field.”
7. Staples Center (5%)
“At least there would be comps within the state—the others would require flying/driving to one or more states for anything remotely comparable.”
8. Arthur Ashe Tennis Stadium (2%)
The Arthur Ashe sports stadium in Queens, NY is the largest tennis stadium in the world. It’s the main stadium of the US Open tennis tournament.
Dan and Jo tell us which sports stadium they’d love to appraise
We asked McKissock instructors Dan Bradley and Jo Traut to weigh in on the survey question, too. Here’s what they said:
“Assuming I could meet the requirements of the COMPETENCY RULE in USPAP, the only major sports facility I would consider appraising would be AT&T Stadium in Arlington, Texas (where the Dallas Cowboys play). Why? Because my fee for appraising such a facility would be so astronomical, the only person who could afford it would be Jerry Jones (the owner of the Cowboys).” – Dan Bradley
“Wrigley Field—home of the Chicago Cubs. Although I am not a sports fan, I’ve always been enchanted by Wrigley’s historic significance and beauty as a baseball field. Additionally, I have fond memories of attending some baseball games with my dad. Of course, I would struggle with remaining unbiased as I don’t think any other baseball field compares. If I was competent to do this type of assignment, I would love the opportunity to have a private and close-up view of the entire facility!” – Jo Traut
No matter what type of property you’re appraising, whether it’s a giant sports stadium or a single-family residence, make sure you are USPAP compliant. Our USPAP course covers everything you need to know about the latest changes to USPAP.
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