Appraisal Journal articles from January 2001

Appraisal Journal archives from January 2001

Dividing the Pie: Compensating Landlords and Tenants in Takings of Leased Real Property.(legal analysis)
January 1, 2001... In a simple condemnation case, the government or some entity with the power of eminent domain takes property for public use that is owned by a single owner in fee simple absolute. Much of the real property in the United States, however, is not...

Implications of the Kumho Tire Case for Appraisal Expert Witnesses.(Kumho Tire v. Carmichael)
January 1, 2001... abstract The 1993 U.S. Supreme Court case of Daubert v. Merrill Dow Pharmaceuticals involved the admissibility of scientific evidence as presented by expert witnesses. Since that time, courts have differed in how they apply Daubert...

Interim Highest and Best Use: Condemnation Appraising.(analysis)(Statistical Data Included)
January 1, 2001... abstract When appraising partial takings of property for eminent domain, special situations often exist that make the recognition and understanding of interim usage critical to the proper estimation of just compensation. Because only a...

Developer's Good Will as Significant Influence on Apartment Unit Prices.(Hong Kong study)(Statistical Data Included)
January 1, 2001... abstract This article discusses how apartment prices in Hong Kong are affected by a developer's good will. The homogeneous nature of apartment units there and the hedonic price model make it possible to isolate the effect of a developer's...

Liquidation Price and Semi-Forced Sellers.(real estate, analysis)
January 1, 2001... abstract This article analyzes the reasons owners liquidate real estate and why the liquidation price is often less than market value given reasonable market-oriented exposure time. While court-ordered liquidation by absolute auction is...

Discounts in Real Estate Auction Prices: Evidence from South Florida.(Statistical Data Included)
January 1, 2001... abstract This study provides a detailed look at the mechanics of the auctions from the Department of Housing and Urban Development (HUD) and demonstrates how auction prices may differ sign ificantly from non-auction prices for the same...

Comparison of Valuation Methods for Perennial Sugarcane Crops Associated With Eminent Domain Land Acquisition.(analysis)(Statistical Data Included)
January 1, 2001... abstract Valuation of perennial crops associated with eminent domain land acquisition presents a special challenge to rural appraisers. In this article, we compare two crop valuation methods for placing a value on an existing sugarcane...

Psychiatric Hospitals.(valuation analysis)(Statistical Data Included)
January 1, 2001... abstract Psychiatric hospitals are limited purpose but moderately complicated medical treatment facilities that flourished in the 1970s and 1980s. However, during the 1990s they have been experiencing tough financial times. Recently,...

Intangible Assets in an Operating First-Class Downtown Hotel: A Comparison of Sources of Information in a Profit Center Approach to Valuation.(Hornblower Hotel Towers, Mar Del Sol)(Statistical Data Included)
January 1, 2001... abstract Since 1990, real estate appraisers in the United States have been required to consider the influence of both tangible personal property and intangible assets on the value of a property, especially when the objective of the...

The Globalization of Real Estate Appraisal: A European Perspective.
January 1, 2001... abstract It is often difficult to make a connection between the traditional local markets and the e-driven global market. The issues facing many national valuation and appraisal societies and their members is whether they can do anything...

Bridging the Gap: Marketability Discounts for Real Estate Interests.(analysis)(Statistical Data Included)
January 1, 2001... abstract This paper is about business valuation for real estate appraisers and about real estate interest valuation for business appraisers. It describes a practical approach for valuing marketability discounts for corporate, partnership,...

Valuing commercial property for tax purposes must address loss of value from obsolescence via cost approach.(Court of Appeals of Wisconsin ruling)(Brief Article)
January 1, 2001... For tax purposes, a village board of review must, using the cost approach, consider a diminution in property value due to obsolescence, according to the Court of Appeals of Wisconsin. Walworth Affordable Housing, LLC (WAH) owns a low-income...

Nonprofit fraternal group receives no tax exemptions for property used as private residences.(Zach Inc., Supreme Court of Georgia ruling)(Brief Article)
January 1, 2001... Property used for purely residential purposes by a nonprofit fraternal organization does not come within the educational use exemption from ad valorem property taxes, even if college students or teachers happen to live there, according to the...

Corporation receives real estate tax exemption for property used only for charitable purposes.(True Christianity Evangelism)(Supreme Court of Ohio)(Brief Article)
January 1, 2001... The Supreme Court of Ohio held that a corporation was nor required to be a charitable institution to qualify for a teal property tax exemption. True Christianity Evangelism, an Ohio nonprofit corporation, sought to exempt the property it...

Court admits appraisal expert's testimony as a consulting service.(Colorado Court of Appeals,Board of Assessment Appeals , FirstBank of Longmont)(Brief Article)
January 1, 2001... The Colorado Court of Appeals allowed the introduction of testimony and written appraisal exhibits presented by a taxpayer's expert witness in a tax valuation case despite the witness's contingent fee arrangement with the taxpayer. The...

Letters to the editor.
January 1, 2001... Clients Need Point Estimates. Comments on: "Appraising Linear Subordinate Easements in Utility Corridors" I appreciated the article by Messrs. Wayne C. Lusvardi, John G. Wright, and Todd Amspoker, "Appraising Linear Subordinate Easements...

The Appraisal of Rural Property, second edition.(Review)
January 1, 2001... A joint publication from the Appraisal Institute and the American Society of Farm Managers and Rural Appraisers Professionals involved in the appraisal of rural, agricultural, agri-business, and resource properties have had access to a...

Land Valuation: Adjustment Procedures and Assignments.(Brief Article)(Review)
January 1, 2001... 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 and illustrates how various land...