Appraisals
S. Patz & Associates provides specialized multifamily appraisal services throughout the Mid-Atlantic region, with decades of experience in HUD MAP, Section 8, LIHTC, USDA, Fannie Mae, and Freddie Mac programs. The firm also prepares Section 8 Rent Comparability Studies nationwide under the standards in the HUD Section 8 Renewal Policy Guidebook.
S. Patz & Associates provides specialized multifamily appraisal services. The firm has decades of experience valuing multifamily properties of all types and sizes, including both market-rate and affordable housing, with particular expertise in assignments involving complex financing structures and federal and state housing programs.
Our appraisal work includes extensive experience with HUD MAP, Section 8, LIHTC, USDA, Fannie Mae, and Freddie Mac programs, and reflects a thorough understanding of the regulatory, underwriting, and reporting requirements associated with each. HUD-related appraisal work is a core area of practice, with hundreds of assignments completed in compliance with HUD requirements, including Sections 223(f), 221(d)(4), 231, 241, and 220.
S. Patz & Associates also prepares HUD Rent Comparability Studies on a nationwide basis. We are well versed in the standards set forth in the HUD Section 8 Renewal Policy Guidebook and prepare rent studies that meet HUD requirements and provide a credible, well-supported analysis of market rent levels.
The firm also regularly supports LIHTC developers by preparing appraisals that comply with Housing Finance Agency guidelines. Additional assignments are completed for Fannie Mae and Freddie Mac financing, for both market-rate and affordable housing, as well as for USDA-financed multifamily properties, including portfolio valuation assignments. Developers applying for credits in Virginia, Maryland, Pennsylvania, Delaware, or New Hampshire can also commission a LIHTC market study from the firm.
In addition to primary appraisal work, S. Patz & Associates provides appraisal review services, including HUD MAP Quality Control reviews and Rent Comparability Study reviews for state Housing Assistance Payment contract administrators.
Our appraisal services include:
- HUD MAP Appraisals, including Sections 223(f), 221(d)(4), 231, 241, and 220
- LIHTC Appraisals
- Section 8 Rent Comparability Studies, including nationwide assignments
- Fannie Mae and Freddie Mac Appraisals
- USDA Multifamily and Portfolio Valuations
- HUD MAP Quality Control Reviews
- Rent Comparability Study Reviews for State HAP Contract Administrators
- Market-Rate Multifamily Appraisals
- Affordable Multifamily Appraisals
Frequently asked questions
What is a Section 8 rent comparability study?
A rent comparability study compares a property’s Section 8 contract rents with market rents at comparable unassisted properties. S. Patz & Associates prepares rent comparability studies nationwide and is well versed in the standards set forth in the HUD Section 8 Renewal Policy Guidebook, preparing rent studies that meet HUD requirements and provide a credible, well-supported analysis of market rent levels.
Do you prepare rent comparability studies nationwide?
Yes. Section 8 rent comparability studies are prepared on a nationwide basis, and the firm is well versed in the standards set forth in the HUD Section 8 Renewal Policy Guidebook. Multifamily appraisal assignments cover properties of all types and sizes, market-rate and affordable. The firm also reviews rent comparability studies prepared by others for state Housing Assistance Payment contract administrators.
Which HUD appraisal programs do you work in?
HUD-related appraisal work is a core area of practice, with hundreds of assignments completed in compliance with HUD requirements, including Sections 223(f), 221(d)(4), 231, 241, and 220. The firm also completes HUD MAP Quality Control reviews, along with Fannie Mae, Freddie Mac, and USDA multifamily assignments, including portfolio valuations.
Do you appraise LIHTC properties?
Yes. The firm regularly supports Low-Income Housing Tax Credit developers by preparing appraisals that comply with Housing Finance Agency guidelines, for both market-rate and affordable multifamily properties. Developers who also need a market study can use the LIHTC market studies page, since the firm prepares those studies in Virginia, Maryland, Pennsylvania, Delaware, and New Hampshire.
Can you review another appraiser’s work?
Yes. The firm provides appraisal review services in addition to primary appraisal work. That includes HUD MAP Quality Control reviews and Rent Comparability Study reviews prepared for state Housing Assistance Payment contract administrators. Review assignments draw on the same decades of multifamily valuation experience as the firm’s original appraisal work.