When appraising real estate

When appraising real estate, the location becomes the primary consideration. Although many factors determine the estimated value of a property, Randall Yon says it's all about location, location, location. "It may sound trite, but it's a fact. This is the most important thing in our business, above all," explained Yon, of Clyde E. Yon and Associates Inc., which offers services in residential, commercial and industrial appraising, real-estate brokerage and property management. Locally, residential appraising is usually based on the replacement costs of the dwelling and other existing properties of comparable value in close proximity as well. Yon and his two partners, Robert Rosensteel, and Patrick Altiero, are in agreement that an appraisal really comes down to an opinion. But they're formally trained to interpret the real estate market and if the right data is available, there's very little subjectivity on their part. "The more comparable data we have on a property, the more accurate the appraisal will be. That's what we strive for," said Rosensteel, who's taken part in appraising everything from the Conrail yards to mom-and-pop grocery stores. Most of the company's business deals with general real estate appraising. These appraisals are rendered for banks to justify mortgage disbursements but also for the prospective property owner who may want assurance that their purchase is truly a worthy investment. At one point during their careers, all three men were mentored by the late Clyde Yon, who who started in the business during the early 1950's. "He instilled the importance of a solid work ethic into all of us and provided us with valuable insight on how to do our job well, " his son, Randall, said. Over the years, Yon says the appraising process hasn't changed. However, as a result of the savings and loan bankruptsies in the early 1990's, bank's guidelines for appraising have become more stringent and appraisers must maintain certification and continue educating themselves on banking policies and procedures. Currently, Yon and Associates are staffed with six certified appraisers, two appraisal assistants, two sales agents, and five additional employees. The office was relocated from the Black and Yon Building in downtown Altoona to its present location at 702 18th Street in March of 1999. It also has a branch office in Claysburg. "We are lucky to have a great staff working here to service our clients, and we work towards preserving the great reputation of Clyde Yon. He was a wonderful person and quite a leader in our community," said Altiero. Altiero and Rosensteel are frequently asked from clients how they can boost the value of their home prior to selling it. And their answer is simple. "Add paint, wallpaper and landscaping." With these cosmetic improvements, homeowners will probably receive a high return on their investment for these upgrades when the house is sold. Also, curb appeal means so much, and a little landscaping or exterior painting can go a long way in attracting a buyer, they said. Just as the right information is needed to formulate an accurate appraisal, the right balance among business partners must be achieved for a successful business venture. "From working alongside my father, the three of us were taught to focus on the same big picture, and our partnership has become like a marriage. There's a lot of give and take. We share the work-load, and it's a team effort from beginning to end," Yon said. And despite age differences, the trio said they learn from one another and are very good friends. Altiero says he's fortunate to have been tutored by informative individuals such as Clyde Yon and his two partners. Rosensteel added that he's propelled to work harder than ever before as he attempts to keep pace with his younger partners. "We have a tremendous camaraderie among us. It's like having two brothers," Yon said.