Appraisal Journal articles from April 2001

Appraisal Journal archives from April 2001

Armstrong/Kahn Award.(Brief Article)
April 1, 2001... Bryan L. Goddard, MAI, is the recipient of the 2001 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...

The Swango Award for Outstanding Residential Article.(Brief Article)
April 1, 2001... Donald P. Guarino, Jr., MAI, CRE, is the recipient of The Swango Award for Outstanding Residential Article (previously called the Editorial Board Award for Outstanding Residential Article). He is the author of the winning article, "Valuation of...

Mortgage Lenders and the Institutionalization and Normalization of Environmental Risk Analysis.
April 1, 2001... Real Estate Markets, Uncertainty, Environmental Risk, and the Real Estate Appraiser Buyers and sellers of real estate, whether a personal residence, an income-producing investment, or a property used in a trade or business, understand...

Valuation Committee Meeting Notes.
April 1, 2001... The NCREIF annual conferences are typically some of the better attended, and the October 18--20, 2000, conference in Palm Beach, Florida, was no exception. The Valuation Committee started the morning with an update from Bruce Kellogg, MM, of...

Real Estate Capital Markets Update, Settling into the Transitional Economic Environment.(Editorial)
April 1, 2001... Commentary As we predicted last fall, the United States economy has continued to slow. Indeed, the shift has been so dramatic that it has resulted in widespread use of the "R" word as fears of recession have replaced concerns about...

Gated Communities and Residential Property Values.
April 1, 2001... abstract This study analyzes the sale prices of single-family homes located in six different neighborhoods in a medium-size metropolitan area. A traditional hedonic pricing model is used to study 284 sales that occurred during the period...

Liability Issues Facing Appraisers.
April 1, 2001... abstract The purpose of this article is to examine the legal exposure appraisers (valuers) face for their work when done in a negligent, fraudulent, or other inappropriate manner. The standards or guidelines used to determine these areas...

Solving the Functional Obsolescence Calculation Question? Part II.
April 1, 2001... abstract A controversy exists as to the correct method to calculate functional obsolescence in the reproduction cost approach. One important question is whether functional obsolescence caused by a deficiency requiring an addition should be...

Appraising Industrial Special-Purpose Properties.
April 1, 2001... A Utilization-Based Measure for Estimating Economic Obsolescence abstract This article proposes a new technique, based on utilization rates, for estimating economic obsolescence in the appraisal of industrial special-purpose...

Challenges In Appraising "Simple" Warehouse Properties.
April 1, 2001... abstract The appraisal of a warehouse can appear straightforward compared to other appraisal assignments. A warehouse appraisal involves comparing a building that is primarily an open shell to similar buildings. However, there are several...

The Agency Relationships Involved in Hotel Appraisals Completed for the Resolution Trust Corporation and Institutional Lenders.
April 1, 2001... abstract This article examines the agency relationships and potential problems in the hotel appraisal process in order to compare differences between appraised hotel values and their market values for both institutional lenders and the...

To Whom Are Appraisers Liable?
April 1, 2001... abstract This paper, which deals with expanded liability issues, was initially researched for a graduate class on valuation issues in litigation. Professional liability may be the most personal of all the issues in the valuation field....

The Effect of Previous Environmental Contamination on Industrial Real Estate Prices.
April 1, 2001... abstract This paper presents an empirical study of the effect of previous contamination on the price of industrial properties. Price effects are evaluated through two techniques. The first involves a direct comparison of previously...

Scope of Work and Range of Services.
April 1, 2001... In 1998, the Appraisal Standards Board (ASB) made numerous revisions to the Uniform Standards of Professional Appraisal Practice (USPAP). These revisions were incorporated into the 1999 edition, which became effective in March 1999. With one...

Global Warming: Emerging International Valuation and Consulting Opportunities Mandate Agreement.(Transcript)
April 1, 2001... A Speech Presented at Proceedings in Commemoration of the KAS Establishment, December 2, 2000. Earlier this year, while participating in an Appraisal Institute educational program in Chicago, Gary Taylor and I were discussing our Korean...

Court offers relocation costs in place of adjustment costs in eminent domain proceeding.(Brief Article)
April 1, 2001... According to the Supreme Court of Virginia, it is proper in a condemnation case to consider the expense made necessary by reason of improvement in adjusting the property to the changed conditions brought about by the taking. Revocor...

Property tax increase found in violation of state's uniformity provisions.(Brief Article)
April 1, 2001... The Supreme Court of Nebraska ruled that a valuation scheme that created differential tax treatment between farmland controlled by mining companies and similar farmland not so controlled violated that state constitution's uniformity of taxation...

Tax exemption denied for low-income housing unit owned and run by a nonprofit corporation.(Mercy Crestview Village)(Sisters of Mercy)(Brief Article)
April 1, 2001... Low-income housing operated by a nonprofit corporation was not a "charitable" use of property exempt from property taxes, according to the Supreme Court of Nebraska. Mercy Crestview Village (Mercy) purchased an apartment complex in Sarpy...

General benefits to a landowner's remaining real estate in a condemnation action not set off against an award of compensation for the real estate.(Brief Article)
April 1, 2001... General benefits to a landowner's remaining real estate in a condemnation action may not be set off against an award of compensation for the real estate, according to the Missouri Court of Appeals. In this case the City of Branson and Taney...

Dictionary of Real Estate Terms, Fifth Edition.(Review)
April 1, 2001... Edited by Jack P. Friedman, Jack C. Harris, J. Bruce Lindeman. Published by Barron's Educational Series, Inc., Hauppauge, New York, 2000, 454 pages, softcover. $13.95 A dictionary of real estate terms is a pedestrian yet essential...

Letters to the editor.
April 1, 2001... Yet Another Cautionary Tale--New Case Law for Appraisers After Billy v. Arthur Young & Co. [1] in 1992 and Soderberg v. McKinney [2] in 1996, yet another example of the far-reaching potential liability for providing professional conduct...

Land Valuation: Adjustment Procedures and Assignments.(Review)
April 1, 2001... By James H. Boykin, MAI, SREA, CRE Land Valuation: Adjustment Procedures and Assignments is a basic guidebook to help appraisers successfully complete new or difficult land valuation assignments. It provides benchmarks for property analysis...

Uniform Appraisal Standards for Federal Land Acquisitions.(Review)
April 1, 2001... by the Interagency Land Acquisition Conference 2000 The new Yellow Book is coming! The Uniform Standards for Federal Land Acquisitions have been revised and will be available for purchase April 15, 2001. Under a cooperative agreement...