Appraisal Journal articles from April 2000

Appraisal Journal archives from April 2000

Armstrong/Kahn Award.(Brief Article)
April 1, 2000... Douglas McKnight is the recipient of the 1999 Armstrong/Kahn Award and a $1,000 honorarium. The award is a combination of the former Robert H. Armstrong Award and the former Sanders A. Kahn Award, and recognizes the most outstanding article...

The Appraisal Journal Editorial Board Award for Outstanding Residential Article.(Brief Article)
April 1, 2000... Joy Hearn, SRA, is the recipient of The Appraisal Journal Editorial Board Award for Outstanding Residential Article. She is the author of the winning article, "How to Analyze Land Values in the Luxury Market," which was published in the July...

Organizations Discuss Role of Valuation in Real Estate Capital Markets.(Brief Article)
April 1, 2000... The National Council of Real Estate Investment Fiduciaries (NCREIF) ended 1999 on a positive note with an informative annual conference in Naples, Florida. The October 1999 Annual Conference opened with a symposium entitled "Valuation and the...

Real Estate, Economics and Technology: Architects of the Future World.
April 1, 2000... Commentary In our previous Commentary, we turned our focus outside of the asset class, looking at a number of "externalities" that have a significant impact on the real estate market. In addition to macroeconomic factors, we noted the...

The Power of Computer Graphics for Comparative Analysis.(Brief Article)
April 1, 2000... abstract Computer graphics, which accurately demonstrate market patterns, can be used to enhance data exploration and improve the clarity and usefulness of an appraisal report. This article outlines the basic procedure for creating scatter...

The Value of Ocean Proximity on Barrier Island Houses.(Brief Article)
April 1, 2000... abstract This study estimates the value of ocean proximity for houses on Long Beach Island, New Jersey. The selling price of these houses depends on the usual amenities, but location to the beach (in walking distance) is particularly...

Determining Income Multipliers for Apartment Properties.(real property valuation in Sweden)
April 1, 2000... abstract This article discusses the factors considered by the market of property owners and tenants (the rental market) and the market of buyers and sellers (the property market) in the valuation of income property. Its primary focus is on...

Estimating Economic Damages to Real Property Due to Loss of Marketability, Rentability, and Stigma.
April 1, 2000... abstract A simple statistical model utilizing the concept of expected, discounted value may be used to estimate financial or economic damages to impaired real property due to loss of marketability, rentability, and stigma. Analysis of a...

Valuing Business Goodwill Loss in Eminent Domain Cases.(compensation for condemned government property)
April 1, 2000... abstract Owners of government condemned property can recover damages for the value of the property taken either directly through condemnation or indirectly through an inverse condemnation. Users of property taken through regulatory...

Regulation, Moral Hazard, and Adverse Selection in Appraisal Practice.
April 1, 2000... Abstract Moral hazard and adverse selection in financial markets frequently derive from government regulation and informational obstacles that result in perverse incentives. In this article, it is argued that moral hazard and adverse...

"The Dose Makes the Poison:" Environmental Phobia or Regulatory Stigma?(Brief Article)
April 1, 2000... abstract A review of recent impartial scientific literature confirms the proverb by the 15th century physician Paracelsus, "the dose makes the poison," with respect to most trace environmental substances and emissions affecting real...

Office Property Down Under: Differences Between American and Australian Office Market Practices.
April 1, 2000... abstract As the approach to real estate investment becomes increasingly global, real estate professionals would be wise to be aware of market practice differences between the United States and other countries. A general comparison between...

Smoothing Wrinkles in the Spread: Special Assessment Issues.(Brief Article)
April 1, 2000... abstract Special assessments are a familiar funding mechanism for public improvement projects in many real estate markets. Knowing how to appropriately allocate the assessment amount across affected properties requires consideration of how...

Errors in Hedonic Modeling Regressions: Compound Indicator Variables and Omitted Variables.(effect of environmental problems on real estate prices)
April 1, 2000... abstract Numerous articles have appeared in this and other journals in which hedonic modeling has been employed in an attempt to estimate the impact of environmental disamenities (oil spills, toxic dumps) on real estate prices. It is...

Rationale and Paradigm for Opinion Forming.(Brief Article)
April 1, 2000... A gift to thinking mankind is the ability to ask and answer complex questions like, What are Truth and Justice and how much choice did God have in constructing the universe? [1] Having the correct answer would mean that man would know the mind...

Evidence of consequential damages to remainder of property must be considered in partial condemnation.(Brief Article)
April 1, 2000... The Supreme Court of Georgia ruled in a partial condemnation that it was error to exclude evidence of consequential damages to the remainder of the landowners' property. The Georgia Department of Transportation (DOT) condemned .027 acres...

Revaluation of property allowed in valuation year to account for new construction.(Arizona Dept of Revenue)(Brief Article)
April 1, 2000... An Arizona law allowing revaluation of real property after January 1 of the valuation year did not violate federal equal protection or the uniformity clause of the Arizona constitution, according to the Court of Appeals of Arizona. In the...

Real estate appraiser license applicant not denied due process: requirements of formal complaint not expressly dictated by licensing law.(Wevlyn Inetta James, Mississippi Supreme Court)(Brief Article)
April 1, 2000... The Supreme Court of Mississippi ruled that the state real estate appraiser licensing board (board) did not deny due process of law to an applicant for an appraisal license. This matter originated when a member of the board's staff; Elizabeth...

Property tax exemptions based on religious use should not be narrowly construed.(Colorado Court of Appeals)(Brief Article)
April 1, 2000... No particular frequency of religious use was required to satisfy the constitutional and statutory standards for the religious use property tax exemption, according to the Colorado Court of Appeals. Pilgrim Rest Baptist Church, Inc. (church)...

A Guide to Consulting Services for Emerging Healthcare Organizations.(Review)
April 1, 2000... by Robert James Cimasi, CBI, CBC. Published by John Wiley & Sons, Inc., New York, New York, 1999, 501 pages, hardcover. $75 The rapidly changing and highly complex healthcare field is pressuring sole medical practitioners and small...

Letters to the editor.
April 1, 2000... Notes from the Editor-in-Chief This past January Donna O'Loughlin resigned from the position of managing editor for The Appraisal Journal. Donna's first position with the Appraisal Institute was associate editor of newsletters in 1990. She...

Correction.(to article in Jan 2000 issue by Donald Sonneman)(Correction Notice)
April 1, 2000... The article "The Challenges of Appraising Residential Alzheimer's Assisted Living Facilities" by Donald Sonneman (January 2000 issue) has a reference error Table 2 contains data (footnote 19) that incorrectly states that the Senior Housing...

Capitalization Theory & Techniques Study Guide, second edition.(Review)
April 1, 2000... By Charles B. Akerson, MAI Since it was first published in 1973, Capitalization Theory and Techniques, Study Guide has served as an essential resource for students of the income capitalization approach to value. Throughout the text's long...

Appraising Residential Properties, 3d ed.(Review)
April 1, 2000... As the business world changes, new tools are adopted while old ones are set aside. To help residential appraisers adapt to an evolving marketplace, the Appraisal Institute is pleased to announce the publication of a new tool for your business,...

Analysis and Valuation of Movie Theaters.(Review)
April 1, 2000... By Arthur E. Gimmy, MAI, and Mary G. Gates, MAI There's no business like show business. As the movie exhibition industry continues to adapt to the influences of competitive media and other entertainment options, new megaplex movie theaters...