Appraisal Journal articles from July 1992

Appraisal Journal archives from July 1992

Market value: the elusive standard. (Under the Microscope: Winter 1992)
July 1, 1992... The concept of market value has been defined and discussed by the courts, by government regulators, and throughout appraisal literature. Despite this widespread attention, however, adoption of an industry standard has remained an elusive goal....

Real estate securitization.
July 1, 1992... As real estate values continue to deteriorate and liquidity evaporates, the crisis at thrift institutions, banks, and insurance companies worsens. The current magnitude of commercial real estate loan exposure and the trend toward continued...

Regulatory requirements for appraisals.
July 1, 1992... Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) requires federal banking regulatory authorities and their regulated institutions to make use of appraisals that meet certain standards and are...

Commercial real estate and the Americans with Disabilities Act: implications for appraisers.
July 1, 1992... The Americans with Disabilities Act (ADA) can be expected to have a profound effect on American society. The ADA aims to eradicate practices that discriminate against persons with disabilities in both the public and private sectors. The...

Unbundling the cash flow: beyond the property internal rate of return.
July 1, 1992... Risk-return relationships are often critical to the proper valuation of income-producing real estate. This article presents a method for the analysis of the individual components that create value, which can be used by valuation, investment,...

Analyzing "unearned" entrepreneurial profit.
July 1, 1992... Entrepreneurs require an incentive to purchase distressed real estate. This incentive represents a monetary reward for the risks associated with purchases of this type of real estate and is termed "unearned" entrepreneurial profit. In this...

Estimating hotel replacement cost.
July 1, 1992... This article analyzes the six primary sources of data available to an appraiser/consultant when estimating the replacement cost of a hotel. Included are specialized data available from market sources specific to the hotel industry. In...

Lenders' perspectives on environmental issues.
July 1, 1992... A survey of banks of various sizes reveals that lenders are aware of environmental issues as they relate to properties and that contamination does not appear to discount a bank's interest in lending on a specific property. Banks do require a...

Easement-to-fee-simple value ratios for electric transmission line easements: a common sense approach. (includes appendix)
July 1, 1992... Generalized legal positions pertaining to just compensation are synthesized with appraisal methodology to form a basis for the development of easement-to-fee-simple (EFS) value ratios. Because it is sometimes difficult to obtain the necessary...

Impact of power transmission lines on property values: a case study.
July 1, 1992... Studies have been conducted in an attempt to link electromagnetic radiation to some forms of cancer and other health risks. Each study has produced differing levels of evidence as to the validity of this theory. This research project...