Appraisal Journal articles from April 1992

Appraisal Journal archives from April 1992

The impact of hazardous materials on property value.
April 1, 1992... The issue of the safe handling, storage, and disposal of hazardous and toxic materials is becoming a significant national problem. On an economic basis alone, the known environmental risk to real estate from hazardous and toxic materials is...

Airport retailing is taking off.
April 1, 1992... Real estate professionals who frequently travel by air may have noticed a subtle transformation taking place around them. The character of airport retailing is changing. Pricing by airport retailers is becoming more competitive; the old...

The accuracy of economic/demographic projections made by private vendors of secondary data.
April 1, 1992... Real estate market analysts who perform housing market and retail trade area studies use projections generated by private vendors to evaluate the need for new construction in specific markets. (1) Such economic and demographic data include...

A review appraiser's perspective.
April 1, 1992... With the advent of an increased number of financial institution failures, a higher degree of regulatory scrutiny, and the passage of Title XI of the Federal Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), real...

Valuation of fractional interests in real estate limited partnerships - another approach.
April 1, 1992... A fractional interest in a real estate partnership is not a fee simple interest in real estate, but is rather a security interest in a closely held business enterprise. Several factors can lessen the value of a fractional interest relative to...

The investment characteristics of real estate in other countries.
April 1, 1992... Many researchers have suggested that the addition of real estate to financial asset investments provides significant gains in portfolio performance. (1) Specifically, studies have shown that real estate has historically provided rates of...

Global real estate services.
April 1, 1992... Major investors are adding more international stocks, bonds, and real properties to their portfolios every day (1) and must acquire the appropriate services for the acquisition, disposition, and renovation of global property holdings. (2) A...

The institutional counselor.
April 1, 1992... Most of the literature on real estate counseling has been written by real estate counselors in private practice for real estate counselors in private practice. One reason for this phenomenon is that, until recently, there has been little need...

Strategies for retaining your best appraisers.
April 1, 1992... "I'm tired of training my competition!" This familiar lament expresses a sentiment that is increasing common in the appraisal industry. A successful appraisal firm experiences increasing demand from a growing number of clients. To continue...

Ownership issues in an appraisal firm.
April 1, 1992... Ownership issues in an appraisal firm include the legal form of ownership, the sharing of firm revenues, and policy items such as the entry of new co-owners. As is true of other types of professional organizations, questions of ownership can...

Classifications for commercial real estate.
April 1, 1992... Real estate appraisers are routinely required to complete market research studies when appraising income properties. Much of this research involves the study of the income characteristics of comparable properties. While such properties may or...

Real estate valuation - a transatlantic perspective.
April 1, 1992... In recent years, a number of articles have appeared on valuing property in a global market and diversifying real estate portfolios internationally. A comparison of the relevant distinguishing features of the property valuation professions in...

Analyzing "other" income.
April 1, 1992... "Other" income represents a secondary source of revenue typically generated as a service to real property's primary revenue source, space rental. A review of numerous appraisals reveals that substantial confusion surrounds appraisers'...

Implementing discounted cash flow valuation models: what is the correct discount rate?
April 1, 1992... The rate at which to discount expected future cash flows is a fundamental issue in the valuation of income-producing real estate. Until quite recently, professional appraisers have been primarily concerned with the appropriate derivation or...

The effect of the listing price on cash equivalence.
April 1, 1992... It is widely accepted that seller financing affects the sale prices of real estate. When a seller provides a buyer with financing having more favorable terms than are available from a third party, the value attributed to this financing may be...

Estimating value diminution by the income approach.
April 1, 1992... When an income-producing property is affected by a condition that causes value to decrease, the sales comparison approach is often the primary means of estimating value diminution. The incorporation of the income approach depends on whether...