Appraisal Journal articles from June 2005

Appraisal Journal archives from June 2005

Temporary moratorium on land development is not a taking without just compensation.(cases in brief)
June 22, 2005... The Commonwealth Court of Pennsylvania ruled that Newton Township's (Township) temporary moratorium on the development of land did not constitute so onerous a burden on a homebuilder's use of his land as to constitute a taking without just...

No damages awarded for diminished market perception in condemnation case.(cases in brief)(Brief Article)
June 22, 2005... A landowner in a condemnation case was not entitled to damages for the remaining property's "diminished market perception," according to the Supreme Court of Texas. John L. Santikos owns a 27-acre tract of unimproved land in Bexar County,...

Land use regulation not a taking of property without just compensation.(cases in brief)(Brief Article)
June 22, 2005... A zoning bylaw, which expressly prohibited construction of "a residential dwelling unit" within a conservancy district, was not a regulatory taking of property without just compensation, according to the Appeals Court of Massachusetts. ...

Income capitalization approach appropriate to measure value of landfill under a conditional use permit.(cases in brief)(Brief Article)
June 22, 2005... The income method, rather than economic rent method, was the appropriate assessment method to determine a landfill's tax value, as the landfill property was owner-operated and was not under lease, according to the Supreme Court of Virginia. ...

City to pay for expert witnesses in condemnation case.(cases in brief)(Brief Article)
June 22, 2005... The Supreme Court of Nebraska held that fees paid by a landowner to expert witnesses in an eminent domain proceeding abandoned by a city could be recovered from the city. In November 2000, the City of Gordon, Nebraska, filed a petition to...

Classification of property dependent on its primary use.(cases in brief)(Brief Article)
June 22, 2005... Property that was used as an extended-stay residential facility was not considered residential property and thus, the property could not be classified as a mixed-use residential and commercial property for property tax purposes, according to...

Declining property value not cause to reevaluate taxpayer's property.(cases in brief)
June 22, 2005... Declining property value was an economic change that was not a basis for valuation of a taxpayer's property, according to the Court of Appeals of North Carolina. The property here is an abandoned furniture plant containing 1.4+ million...

Speculative appraisal not relevant in tax assessment case.(cases in brief)(ENF Family Partnership)(Brief Article)
June 22, 2005... A landowner's property could not be assessed lot tax purposes based upon an appraisal that stated the highest and best use of the property was commercial, as that was pure speculation, according to the Commonwealth Court of Pennsylvania. ...

The hunt for product lessens summer market doldrums.(financial views)
June 22, 2005... Commentary Despite some mixed signals and downside risks, the United States economy seems to be on a fairly solid but unspectacular road to recovery. Although inflation continues to be a concern in some sectors, there is little risk of a...

The second home boom.(international appraising)
June 22, 2005... Overview The RICS European Housing Review 2005 is mainly concerned with primary residential markets, that is, people's first homes. Yet, many European households have more than one dwelling--a second home--which is not rented out in the...

Limits on use of Fannie Mae forms and the Appraisal Institute's alternative form.(residential appraising)
June 22, 2005... This edition of "Residential Appraising" looks at why the new Fannie Mae appraisal report forms should not be used for non-Fannie Mae appraisals. This column also explains the Appraisal Institute's new, alternative report form for valuations...

The impact of cell phone towers on house prices in residential neighborhoods.(wireless telephones towers)
June 22, 2005... abstract This article examines whether proximity to cellular phone towers has an impact on residential property values and the extent of any impact. First, a survey approach is used to examine how residents perceive living near cellular...

Telecommunications infrastructure properties.
June 22, 2005... abstract The increasing specialization of industrial real estate presents appraisers with a unique range of considerations in the valuation process. This article examines telecommunications infrastructure properties and explains the...

Environmental case studies: ensuring suitable comparables.
June 22, 2005... abstract The difficulty of using case studies in the appraisal of contaminated land has eased due to the increased number of redeveloped sites entering the marketplace. The key element of the case study approach is ensuring suitable...

Disassembling assemblage.
June 22, 2005... abstract Assemblage may be the most difficult highest and best use conclusion to support. Discussed in this article are the elements necessary for an assemblage conclusion of highest and best use, including market value, bilateral...

The impact of social stigma: an examination of the public and private housing markets in Hong Kong.
June 22, 2005... abstract Public housing has been labeled a social stigma for its design, management, and the social background of tenants. in many metropolitan areas, private and public housing developments are clearly separated. In a compact city such as...

Regression analysis with your HP-12C.(notes and issues)
June 22, 2005... When deriving a value estimate, we appraisers may find it insufficient to rely solely on paired sales analysis or on developing a sample of arrayed comparable sales and calculating the standard deviation. Although good, it may not seem great....

Noteworthy valuation-related papers from the American Real Estate Society annual meeting.(notes and issues)
June 22, 2005... The Twenty-First Annual American Real Estate Society (ARES) Meeting was held in Santa Fe, New Mexico, on April 13-16, 2005. This year, 160 papers and eight panels were presented by academicians, PhD students, and researchers, as well as by...

Comments on "A Strategy for Estimating Identified Intangible Asset Value: Hotel Affiliation Contribution".(Letters to the editor)(Letter to the Editor)
June 22, 2005... I commend John W. O'Neill, PhD, MAI, and Eric E. Belfrage, MAI, for the deliberate approach that they employed in arguing their position in "A Strategy for Estimating Identified Intangible Asset Value: Hotel Affiliation Contribution" (Winter...

Comments on "An Exploratory Review of the Effects of Toxic Mold on Real Estate Values".(Letters to the editor)(Letter to the Editor)
June 22, 2005... "An Exploratory Review of the Effects of Toxic Mold on Real Estate Values" (Spring 2005), by Robert A. Simons, PhD, and Ron Throupe, PhD, purports to review available information on how mold affects property values. The article examines the...