Appraisal Journal articles from July 2001

Appraisal Journal archives from July 2001

New Thinking In Appraisal Theory.(real estate appraising)
July 1, 2001... Abstract Real estate appraising is still appropriately described as an art rather than a science. The contention of this article is that it will remain so as long as the fundamental theoretical structure on which practice is based is...

Beyond Ordinary Wear and Tear: The Government's Liability for Building Maintenance in a Temporary Taking.(eminent domain)
July 1, 2001... When real estate is occupied for a period of months or years pursuant to an ordinary landlord and tenant relationship, the parties typically negotiate their respective obligations for maintaining the leased premises and express their mutual...

Evaluation of the Brazilian City of Recife's Condominium Market Using Generalized Linear Models.(Statistical Data Included)
July 1, 2001... One of the main phases of real estate evaluation through the comparative method is the adjustment of the market data to a model that explains the variability of the observed prices, as a function of the variations of its characteristics. The...

An International Perspective on Incorporating Risk in the Valuation of Contaminated Land.
July 1, 2001... The late 1980s and early 1990s saw the development of concern surrounding the ownership and investment value of sites affected by contamination. This was prompted by the discovery of problems associated with a number of high-profile sites...

The Sales Comparison Approach and the Appraisal of Complete Facilities.
July 1, 2001... Abstract The application of the sales comparison approach to complete facility assets deserves special consideration since these facilities possess characteristics that require particular attention during the appraisal process. Complete...

Across the Fence Methodology for Valuation of Corridors: What Is It and How Is It Used?(right of way)
July 1, 2001... At a recent combined Appraisal Institute International Right of Way Association seminar on the Valuation of Transportation Corridors, the author was one of the three speakers on the topic of valuation of these corridors. While he advocated use...

Business Value Allocation in Lodging Valuation.(hotel real estate)
July 1, 2001... Abstract The business value component of hotel real estate is elusive to quantify, but is generally assumed to exist. Through consistent tracking of two physically similar hotel chains, we have conducted a matched pairs analysis. Using the...

The Changing Wetland Legal Landscape: Solid Waste Agency of Northern Cook County v. US. Army Corps of Engineers.(state responsibility)(Statistical Data Included)
July 1, 2001... Abstract On January 9, 2001, the U.S. Supreme Court handed down a landmark decision affecting wetlands. The Court ruled that the U.S. Army Corps of Engineers has no jurisdiction over nonnavigable, isolated intrastate wetlands. The Court's...

The Impact of World Class Great Lakes Water Views On Residential Property Values.(increases home value)(Statistical Data Included)
July 1, 2001... Abstract This study examines the impact of water views on property values. Half of the samples of homes in this study have a clear water view while the other half, which consist of adjacent properties, do not. The lake under investigation...

Valuation of Submerged Lands.(below tidal waters)
July 1, 2001... Abstract This article addresses recognized valuation techniques based on property rights inherent with the ownership of real estate. The public lands are held in fee simple estate until an encumbrance is created through a lease or other...

Concentrated Animal Feeding Operations and Proximate Property Values.
July 1, 2001... Abstract Property located near a concentrated animal feeding operation (CAFO) will be negatively impacted by this externality. The degree of impairment depends on proximity and property type and use. Properties with higher unimpaired...

Fuel-Oil Contamination of a Residence: A Case Study in Stigma.(significant value loss)(Statistical Data Included)
July 1, 2001... Abstract An appraisal assignment to measure stigma in a fuel-oil contaminated residence led to the discovery of another similarly contaminated house that had changed ownership four times, including an arms-length sale before, and two more...

The Impact of Airport Noise on Residential Real Estate.
July 1, 2001... Abstract As populations and airports expand, airport noise is an increasingly important issue for real estate analysts. In researching real estate damage issues, the topic of airport noise and its impact on property market values are...

Environmental Contamination: An Analysis in the Context of the DC Matrix.(Detrimental Conditions)
July 1, 2001... Abstract A significant amount of research has been published in professional literature over the past decade addressing environmental contamination. However, we lack an overall pictorial model for organizing this literature and the...

Telecommunications: The Wireless Personal Communications Services (PCS) Industry.
July 1, 2001... Abstract Part I of this article provides an overview of the Telecommunications Act of 1996 as it pertains to the wireless personal communications service (PCS) system, and addresses the six main zoning and land use limitations imposed upon...

Business Enterprise Value: Introduction.(Review)
July 1, 2001... Business enterprise value has many facets and is quite controversial. The issues encompassed include everything from fundamental terminology to whether business enterprise value exists at all and, if so, how it can be measured. The articles in...

Hospital retains tax exempt charitable status.(Easton Hospital )(Brief Article)
July 1, 2001... A hospital using surplus revenue to capitalize its sister and parent organizations did not preclude the hospital from operating free of a private-profit motive, as required for the hospital to be exempt from real estate taxes as a purely public...

Property tax classification violates uniformity provisions.(Ash Grove Cement Co., Cass County, Nebraska)(Brief Article)
July 1, 2001... The Supreme Court of Nebraska ruled that a property tax classification scheme in which only those minerals contained in lands owned by or under control of mining companies are given value for tax purposes, and other mineral interests in other...

Farm for mistreated horses is ruled tax exempt.(H.O.R.S.E, Inc., Town of Washington)(Brief Article)
July 1, 2001... A Connecticut appellate court held that a corporation that owned and operated a farm for mistreated horses was a charitable institution that could receive a property tax exemption. H.O.R.S.E., Inc., owned a 46-acre parcel of land in the...

Market value reduced due to stigma.(Dealers Manufacturing Co., County of Anoka)(Brief Article)
July 1, 2001... Is a taxpayer that challenges a property tax assessment entitled to a reduction in the assessed value of contaminated property based on stigma? The Supreme Court of Minnesota ruled that it is. The subject of this property tax dispute was a...

Public interest value gains support in court decision.(John Dale Hansen, Cargill, Inc.)(Brief Article)
July 1, 2001... The U.S. District Court for the Northern District of California issued a verdict on July 27, 2000 that raises the perceived legitimacy of the concept of public interest value. Judge Charles Breyer rejected a claim by Plaintiff Dale Hansen,...

Encyclopedia of Real Estate Terms: Based on American & English Practice, Second Edition.(Review)
July 1, 2001... Encyclopedia of Real Estate Terms: Based on American & English Practice, Second Edition Written by Damien Abbott. Published by Delta Alpha Publishing, London, England and Washington, D.C., 2000, 1,431 pages, hardcover. $145.00 The...

Letters to the editor.
July 1, 2001... Comments on "Intangible Assets in an Operating First-Class Downtown Hotel" I read with interest William Kinnard, Jr., Elaine Worzala, and Dan Swango's article, "Intangible Assets in an Operating First-Class Downtown Hotel," (January 2001)...