Appraisal Journal articles from January 2006

Appraisal Journal archives from January 2006

From the editor-in-chief.(the appraisal journal)(Brief Article)(Editorial)
January 1, 2006... Welcome to the 2006 edition of The Appraisal Journal. Throughout the year, the Journal will be presenting ideas and concepts, as well as appraisal and analytical techniques for consideration by appraisal professionals. We also will be...

Tax exemption based on property's use, not owner's status.(cases in brief)(Brief Article)
January 1, 2006... The Court of Appeals of Kansas ruled that whether the organization using a property possesses a tax exempt character is relatively immaterial because it is the use of property, not the character of the owner, that determines the applicability...

Challenge to reassessment denied, no injury in fact shown.(reassessment of real estate values)(Brief Article)
January 1, 2006... An individual who did not own any real estate could not challenge a county's reassessment of real estate values, according to the U.S. Court of Appeals for the Third Circuit. Jeffrey D. Hill filed a complaint in which he asserted broad...

Lost profits admissible in eminent domain proceeding.(cases in brief)(Brief Article)
January 1, 2006... Evidence regarding lost profits of a business was admissible in an eminent domain proceeding to calculate the fair market value of the remaining property, according to the Court of Appeals of North Carolina. In 1999, the North Carolina...

Cost to cure admissible to determine consequential damages in inverse condemnation case.(Brief Article)
January 1, 2006... An expert witness's use of the cost to cure to determine consequential damages in an inverse condemnation case was not erroneous, according to the Court of Appeals of Georgia. Bonnie Ogburn owned certain land that he leased to his company...

Church's retreat house not entitled to tax exemption.(cases in brief)(Brief Article)
January 1, 2006... A meeting room and 40 overnight rooms of a retreat house, located on the same parcel of property as a church shrine, were not exempt from real estate taxes, according to the Commonwealth Court of Pennsylvania. The Order of St. Paul the...

Enhanced value from betterments applicable toward property's overall value.(Brief Article)
January 1, 2006... A town that enhanced the value of a developer's property through betterments such as a road and utilities that served the property was authorized to include the enhanced value from the betterments when calculating the full and true value of the...

Temporary injunction not a taking without just compensation.(cases in brief)
January 1, 2006... A border dispute regarding municipal boundaries on a property owner's land and an ensuing injunction that prevented development of the property was not a taking that required just compensation, according to the Commonwealth Court of...

Taking of access rights by inverse condemnation entitles commercial landowner to compensation.(cases in brief)(Tallent v. South Carolina Department of Transportation)
January 1, 2006... A commercial landowner whose only remaining access to a highway was by means of a series of secondary roads as a result of a state highway construction project was entitled to compensation under the theory of inverse condemnation, according to...

The storms behind, the markets ahead.(economic conditions after Katrina)(Column)
January 1, 2006... Commentary Last fall, the devastation wrought by Hurricanes Katrina and Wilma took center stage, with many observers anticipating the aftershocks derailing the economic recovery. These catastrophic events had dramatic effects; however, the...

The price of aesthetic externalities.(determining residential real estate value)
January 1, 2006... Abstract This paper explores the prices of three aesthetic externalities (a water view, the appearance of nearby improvements, and the quality of landscaping in the neighborhood). The focus is on how the implicit prices of such...

Residential appraising: changes and challenges ahead.
January 1, 2006... This edition of "Residential Appraising" looks at the changes and challenges that appraisers will face in 2006 and beyond. A number of significant changes have occurred in residential appraising in a relatively short period. Residential...

Apartment market area delineation.
January 1, 2006... abstract In all property markets, market area delineation is an important task that precedes the analysis of demand and supply in the market area. This article reviews the literature on apartment market area delineation and the currently...

Valuing first nation land claims and other historical damages.
January 1, 2006... abstract First Nation land claims have become increasingly common in recent years. These claims involve determining the present value of the deficiency payment and/or the cumulative loss of use value of these lands. This article identifies...

Contingent valuation: not an appropriate valuation tool.
January 1, 2006... abstract The proposition has been put forth that the contingent valuation (CV) method may be used to quantify diminution in real property values due to various detrimental conditions. The blue-ribbon panel report of the National Oceanic...

Data management and continual verification for accurate appraisal reports.
January 1, 2006... abstract Appraisal firms are increasing their reliance on purchased, vendor-supplied information on comparable properties. The purchased information is often unverified and unvalidated by the firms, and this impacts the reliability of the...

Private developers in the 1997 housing market crisis in Bangkok.
January 1, 2006... abstract Over the past two decades, Bangkok has experienced a substantial increase in demand for housing. During the economic boom from 1986 to 1997, private developers in Bangkok produced more than 100,000 new units per year. Despite this...

Federal agencies offer guidance on appraisals for residential tract developments.(Financial Institutions Reform, Recovery and Enforcement Act of 1989)
January 1, 2006... Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) provides for minimum appraisal standards for all federally related transactions. Among the minimum standards is a requirement that all appraisals must...

The Insider's Guide to Making Money in Real Estate.(Book Review)
January 1, 2006... The Insider's Guide to Making Money in Real Estate by Doll de Roos, PhD, and Diane Kennedy, CPA Published by John Wiley and Sons, Inc., Hoboken, New Jersey, 2005, 248 pages $16.95, softcover Real estate is hot, not only in the United...

Shaping the Skyline: The World According to Real Estate Visionary Julien Studley.(Book Review)
January 1, 2006... Shaping the Skyline: The World According to Real Estate Visionary Julien Studley by Peter Hellman Published by John Wiley and Sons, Inc., Hoboken, New Jersey, 2004, 260 pages $24.95, hardcover Shaping the Skyline: The World According to...

Dictionary of Real Estate Terms, 6th ed.(Book Review)
January 1, 2006... Dictionary of Real Estate Terms, Sixth Edition by Jack P. Friedman, Jack C. Harris, and J. Bruce Lindeman Published by Barron's Educational Series, Inc., Hauppauge, New York, 2004, 501 pages $13.95, softcover Everyone already has (or...

Comments on "The Effects of a Defective Construction Lawsuit on the Value of Condominiums: A Case Study".(Letter to the Editor)
January 1, 2006... In the article, "The Effects of a Defective Construction Lawsuit on the Value of Condominiums: A Case Study," by Steven E. Miller, SRA (Fall 2005), the author states, "There is no information in the multiple listing service (MLS) that discloses...