Appraisal Journal articles from April 2002

Appraisal Journal archives from April 2002

Armstrong/Kahn Award.(Brief Article)
April 1, 2002... The 2002 Armstrong/Kahn Award, along with a $1,000 honorarium, is being awarded to Elaine M. Worzala, PhD; Dan Swango, PhD, MAI, SRA; and the late William Kinnard Jr., PhD, MAI. The award is a combination of the former Robert H. Armstrong Award...

The Swango Award for Outstanding Residential Article.(Brief Article)
April 1, 2002... Randall Bell, MAI, is the recipient of The Swango Award for Outstanding Residential Article and a $1,000 honorarium. He is the author of the winning article, "The Impact of Airport Noise on Residential Real Estate," which was published in the...

Losses occurring to property before the actual date of taking are not compensable in direct condemnation actions. (Cases in Brief).(Brief Article)
April 1, 2002... Losses occurring to property before the actual date of taking are not compensable in direct condemnation actions, according to the Court of Appeals of Georgia. Five Forks, LLC, held an option to purchase a parcel of land. Five Forks...

A parcel consisting of 14 lots was not an "imaginary subdivision" to be valued as a single tract of land in a condemnation proceeding. (Cases in Brief).(Brief Article)
April 1, 2002... A parcel consisting of 14 lots was not an "imaginary subdivision" to be valued as a single tract of land in a condemnation proceeding, according to a decision of the Court of Appeals of North Carolina. In 1977, Herbert Crabtree and Alene...

An option to purchase land was a compensable interest in condemnation proceedings. (Cases in Brief).(Brief Article)
April 1, 2002... The Missouri Court of Appeals ruled in a case of first impression in that state that an option to purchase land was a compensable interest in condemnation proceedings. The case was a result of a condemnation proceeding instituted by the...

A non-profit taxpayer operating a retirement community for the elderly did not serve a charitable purpose and, thus, was not entitled to an exemption from property taxes. (Cases in Brief).(Western Massachusetts Lifecare Corporation)(Brief Article)
April 1, 2002... A non-profit taxpayer operating a retirement community for the elderly did not serve a charitable purpose and, thus, was not entitled to an exemption from property taxes, according to the Supreme Judicial Court of Massachusetts. Western...

A location surrounded by parcels with different land uses does not automatically warrant application of a negative influence factor in assessing the value of the subject property. (Cases in Brief).(Brief Article)
April 1, 2002... A location surrounded by parcels with different land uses does not automatically warrant application of a negative influence factor in assessing the value of the subject property, according to the Tax Court of Indiana. Fleet Supply, Inc.,...

If a conflict exists between taxation at market value and equal and uniform taxation, equal and uniform taxation must prevail. (Cases in Brief).(Brief Article)
April 1, 2002... If a conflict exists between taxation at market value and equal and uniform taxation, equal and uniform taxation must prevail, according to the Court of Appeals of Texas. United Investors Realty Trust (United) purchased a shopping center,...

A landowner's recently subdivided but unimproved property should be assessed for real estate tax purposes at the value prior to the subdivision. (Cases in Brief).(Brief Article)
April 1, 2002... A landowner's recently subdivided but unimproved property should be assessed for real estate tax purposes at the value prior to the subdivision, according to an Illinois appellate court. Prior to 1997, the property of Frank E. Paciga in De...

Real estate and the capital markets: A transitional period of spatial market/capital market convergence. (Financial Views).
April 1, 2002... Commentary An uncertain economy was in transition going into 2002. Consumers, businesses, and investors were adjusting to the recession and gradual, but consistent, erosion in real estate market fundamentals. The prospects of an economic...

The practice of appraisal in transition economies. (International Appraising).
April 1, 2002... This article examines the recent expansion of the European appraisal market into central and eastern Europe, forcing the use of new appraisal practices and methodologies in those countries. The practices and methods, which were developed for...

Valuation Committee meeting notes. (News from NCREIF).
April 1, 2002... A full-day symposium focusing on real property development kicked off the NCREIF 2001 Annual Conference held at the Ritz-Carlton Rancho Mirage. This soup-to-nuts presentation highlighted the risks and rewards associated with real estate...

Fiber optic communication corridor right-of-way valuation Methodology: a summary resulting from telecommunications corridor right-of-way market observations. (Features).
April 1, 2002... The principal purpose of this article is to familiarize and educate those whose knowledge of telecommunications utility corridor right-of-way valuation is modest, while exposing experienced appraisers to a broader understanding of...

Growth and Development of the hotel-motel industry. (Features).
April 1, 2002... Origins of the Lodging Industry The hotels and motels we know today evolved from small, one-room, private dwellings that served merchants as early as 500 B.C. From this modest beginning, the hotel industry has come to play a vital role in...

Small area population forecasting. (Features).
April 1, 2002... Small area population forecasts are used by real estate appraisers and analysts as the basis for evaluating the demand for residential and commercial real estate. Most analysts utilize population forecasts prepared by demographic forecasting...

The effects of wetlands and other factors on rural land values. (Features).
April 1, 2002... The effect of wetlands and other physical and locational characteristics on the prices of rural land can be estimated. Location, parcel size, capital improvements, proportion of land in intensive uses, and land area in wetlands explained more...

Vacancy in market analysis and valuation. (Features).
April 1, 2002... Vacancy appears to be one of the most straightforward considerations of the market analyst and appraiser. The information about vacancies is gleaned from the property market and is used in an income property appraisal or an investment analysis...

Predatory lending, mortgage fraud, and client pressures. (Features).
April 1, 2002... Part I: Predatory Lending and Mortgage Fraud Consumers across the country have complained about predatory lenders for more than eight years. Appraisers have complained about increased client pressures. Civil lawsuits against appraisers have...

The role of the real estate appraiser and assessor in valuing real property for ad valorem assessment purposes. (Notes and Issues).
April 1, 2002... Background The traditional role of the real estate appraiser is to value a property's interests in real estate ownership for many different reasons. Ownership interests (customarily valued) can be the fee simple estate, leased fee estate,...

Dramatic rise in toxic mold claims, litigation, and legislation demands pro-active response from insurers. (Notes and Issues).
April 1, 2002... Nationwide remediation expert PDG Environmental offers tips on minimizing toxic mold liability and damage. For U.S. insurers, re-insurers, and property professionals still reeling from the $32 million a Texas jury awarded Melinda Ballard in her...

Modernization of zoning: A means to reform. (Notes and Issues).(Industry Overview)
April 1, 2002... As population density in America's eastern states and in other metropolitan centers has approached that of the developed countries of Europe, there has been mounting dissatisfaction with the existing zoning system. Restrictions imposed on...

Stephen Roulac on Place and Property Strategy. (Book Review).
April 1, 2002... by Stephen E. Roulac. Published by Property Press, San Rafael, California, 2001. 556 pages. Softbound. $149.00 If you are looking for light reading with some entertainment value, this is not the book for you. On the other hand, if you...

The Appraisal Journal.(Letter to the Editor)
April 1, 2002... It is my honor to follow Dan Swango's large footsteps as editor-in-chief of The Appraisal Journal. By way of background, I am a fee appraiser and value consultant with offices in Denver, Colorado. In seeking to fulfill the mission of the...

Response to Robert N. Jones, MAI, and Stephen D. Roach, MAI.(Letter to the Editor)
April 1, 2002... In the January, 2002, letter to the editor regarding "Revisiting Valuation of Real Estate Partial Interest: Recent Case Studies," Robert N. Jones, MAI, and Stephen D. Roach, MAI, say that the discounts are in the wrong order, but give no...

The Appraisal Standards Board and Environmental Issues.(Letter to the Editor)
April 1, 2002... In "The Role of Formal Survey Research Methods in the Appraisal Body of Knowledge" (October 2001) Marcus Allen and Grant Austin assert, (1) "The Appraisal Foundation released an exposure draft on September 20, 2000, of a proposed Statement on...