Appraisal Journal articles from January 2007

Appraisal Journal archives from January 2007

Terry R. Dunkin, MAI, SRA 2007 President, Appraisal Institute.(Brief article)(Biography)
January 1, 2007... Terry R. Dunkin, MAI, SRA, is the 2007 President of the Appraisal Institute. As an officer, he sits on the organization's Executive Committee and Board of Directors. Mr. Dunkin has been an appraiser for over thirty years and joined the...

A message from the president of the Appraisal Institute.
January 1, 2007... Over the 75 years since the first issue of The Appraisal Journal was published in 1932, much--though not all--has changed. From emerging appraisal methodologies to automated valuation technology, new developments in the profession have both...

A message from the editor-in-chief.
January 1, 2007... The underlying topic of The Appraisal Journal in our 75th year is "perspective." Our readers will find articles that demonstrate the degree to which the real estate valuation profession has evolved. Readers will also recognize that many issues...

Congratulations to the Appraisal Institute on its 75th anniversary.(CONGRESSIONAL RECORD REMARKS)(Ray LaHood)(Speech)
January 1, 2007... Mr. LAHOOD. Mr. Speaker, I rise today to voice congratulations to the Appraisal Institute on its 75th Anniversary and for its advancement of the real estate appraisal profession. Established in 1952 to bring clarity to the real estate appraisal...

Appraiser has duty to disclose mixed-use of property.(CASES IN BRIEF)
January 1, 2007... The Supreme Court of South Dakota ruled that sufficient evidence supported a finding that a state certified general appraiser had violated the Uniform Standards of Professional Appraisal Practice (USPAP). A state certified general...

Tax credits included in assessment of low-income apartments.(Low Income Housing Tax Credit Program, Brandon Bay v. Payette County)(Brief article)
January 1, 2007... Tax credits allocated under the federal Low Income Housing Tax Credit Program (Program) were properly considered in determining the value of low-income apartments for taxation purposes, according to the Supreme Court of Idaho. This dispute...

Arm's-length transaction did not include financing.(CASES IN BRIEF)(Bondo Corporation)(Brief article)
January 1, 2007... The Supreme Court of Ohio ruled that a recent arm's-length sale of real property established the true value of the property for taxation purposes and that evidence on the financing of the sale was not appropriate for consideration. The...

Damage to building from nearby demolition not an inverse condemnation.(Kingsway Cathedral v. Department of Transportation, Iowa)
January 1, 2007... Demolition and road construction activities did not result in a permanent physical invasion of real property and, thus, did not constitute a taking of property without just compensation, according to the Supreme Court of Iowa. Kingsway...

Construction project resulted in de facto taking of property.(CASES IN BRIEF)(Thomas A. McElwee & Sons, Inc)
January 1, 2007... The Commonwealth Court of Pennsylvania ruled that a transportation authority construction project severely restricted access to a printing business and constituted a de facto taking of property without just compensation. Thomas A. McElwee...

Tenant compensated for lost profits under lease agreement.(CASES IN BRIEF)(City of Roeland Park v. Jason Trust, Payless Shoesource, Inc.)(Brief article)
January 1, 2007... The Supreme Court of Kansas upheld as enforceable a lease agreement providing that a tenant was entitled to a portion of a lessee's condemnation award to compensate the tenant for lost profits. In 2004, the City of Roeland Park (City) filed...

Charitable institution entitled to ad valorem tax exemption.(CASES IN BRIEF)(Wexford Medical Group )
January 1, 2007... The Supreme Court of Michigan ruled that, if the overall nature of an institution is charitable, it is a charitable institution for purposes of property tax exemption, regardless of how much money it devotes to charitable activities in a...

Horse racing not an agricultural use of land.(CASES IN BRIEF)
January 1, 2007... The Court of Appeals of Kansas ruled that training horses to race did not constitute agricultural use of land, for purposes of an agricultural use exception to applicable zoning regulations. In 1992, the Navarros acquired a forty-acre tract...

New year begins with tempered optimism.(FINANCIAL VIEWS)
January 1, 2007... Commentary As 2006 came to a close, the U.S. economy headed for a soft landing. The general consensus was that the economy would recapture lost momentum. In 2007, the housing market will continue to draw attention. This factor will likely...

Appraising residential property in a changing market.(RESIDENTIAL APPRAISING)
January 1, 2007... Many residential real estate markets appear to be in a state of flux. Real estate appraisers across the United States are reporting significant changes in their markets. Where only a year or two ago appraisers were reporting annual appreciation...

Nine big ideas: Appraisal Journal articles that influenced a generation.
January 1, 2007... ABSTRACT In its 75-year history, The Appraisal Journal has published over 4000 articles on all aspects of real estate valuation and appraisal practice. This article looks at nine articles published in The Appraisal Journal that have been...

Three approaches?(real estate appraisal)(Reprint)
January 1, 2007... ABSTRACT The initial concepts and structures of the appraisal process in the United States included at least eight valuation methods. The majority of appraisers, however, basking in the perceived simplicity of three approaches to value and...

Compensated short-term conservation restrictions may reduce sale prices.
January 1, 2007... ABSTRACT Both federal income tax law and local property tax assessment practice assume that, while permanent conservation restrictions clearly reduce property values, short-term restrictions do not. An analysis of recent sales of Minnesota...

Net liquidation valuation of transportation corridors.
January 1, 2007... ABSTRACT This article stresses the need for intensive investigation when considering the potential highest and best use of portions of transportation corridors being converted to alternative uses. ********** Previous articles have...

Measuring the financial impact of lot or home removal on home owners' associations.
January 1, 2007... ABSTRACT Home owners' associations or condominium associations (HOAs) may be adversely affected by the reduction of current or future sources of income. The removal of actual or potential dues-paying members via eminent domain, or other...

The ongoing evolution of Appraising Residential Properties: a new edition for a new millennium.(Appraisal Institute)
January 1, 2007... Development of a New Edition In 1900, James Murray, the editor of the first edition of the Oxford English Dictionary (OED), said that "The English Dictionary, like the English Constitution, is the creation of no one man, and of no one age;...

60 years ago.(A LOOK BACK)
January 1, 2007... After ten years of constant war, peace has returned to the peoples of the earth. Spiritually, morally, and physically, a great battle has been won. We, of America, can be proud of the fact that we fought a good fight though in the beginning...

New residential textbook reflects new era for appraisers: Appraising Residential Properties, fourth edition.(PUBLICATIONS of the Appraisal Institute)(Book review)
January 1, 2007... As the fourth edition of Appraising Residential Properties rolls off the presses, residential appraisers face new professional challenges, greater competition, and higher expectations from their clients. To prepare novice appraisers for a...