Appraisal Journal articles from June 2008

Appraisal Journal archives from June 2008

Charitable tax exemption applicable only to property physically occupied by charitable corporation.(Recent Court Decisions)(Liberty Hill Housing Corp. v. City of Livonia)
June 22, 2008... The Supreme Court of Michigan ruled that a nonprofit corporation was not entitled to a property tax exemption for houses leased to charitable beneficiaries when the corporation maintained no physical presence on the properties. Liberty...

Owner-occupancy requirement is unconstitutional regulation of property ownership.(Recent Court Decisions)(City of Wilmington v. Hill)
June 22, 2008... Owner-occupancy requirement is unconstitutional regulation of property ownership A municipal ordinance requiring owner occupancy was an unconstitutional regulation of legal ownership and not a regulation of property use, according to the...

Joint tenancy not severed by one tenant's conveyance of security deed.(Recent Court Decisions)(Biggers v. Crook)
June 22, 2008... The Supreme Court of Georgia ruled that a joint tenancy is not severed when one tenant conveys his interest in the property to secure a debt. William Biggers and Linda Crook, brother and sister, inherited a piece of real property upon the...

State housing appeals board cannot order town to convey easements for the creation of affordable housing.(Recent Court Decisions)(Zoning Board of Appeals of Groton v. Housing Appeals Committee Supreme Judicial Court of Massachusetts)
June 22, 2008... When a town denied a permit to build affordable housing because of valid safety concerns, the state housing appeals committee could not require the town to eliminate the safety hazards by granting easements to use town property, according to...

Billboards on transit agency's property exempt from zoning regulations.(Recent Court Decisions)(Massachusetts Bay Transportation Authority v. City of Somerville)
June 22, 2008... The Supreme Judicial Court of Massachusetts ruled that zoning ordinances regulating outdoor advertisements did not apply to billboards located on the facilities of the state transportation provider. The Massachusetts Bay Transit Authority...

Nonprofit artists-in-residence program benefits the general public for purposes of charitable tax exemption.(Recent Court Decisions)(Town of Peterborough v. MacDowell Colony, Inc.)
June 22, 2008... A nonprofit corporation operating an artist-in-residence program served the general public by promoting the arts and was entitled to a charitable tax exemption, according to the Supreme Court of New Hampshire. The court ruled that the...

Noncharter cities have power to exercise eminent domain for private redevelopment.(Recent Court Decisions)(City of Arnold v. Tourkakis)
June 22, 2008... The Supreme Court of Missouri ruled that the state constitution did not limit eminent domain power to charter cities and that a noncharter city had statutory authority to condemn property for private redevelopment. For more than 20 years,...

Purchaser of vacant lots from original developers entitled to tax assessments based on the developers' acquisition cost.(Recent Court Decisions)(BMI Construction Company, LLC )
June 22, 2008... The Supreme Court of Oklahoma ruled that a home builder who purchased vacant lots from developers was entitled to tax assessments calculated using the developers' acquisition cost method because the lots contained no buildings. In 2004,...

The perfect storm rippling over to real estate.(FINANCIAL VIEWS)(Essay)
June 22, 2008... Commentary The first haft of 2008 has seen erosion in economic fundamentals. While some argue that the economy still is not in a recession, consumers and businesses and government budgets are all feeling the pressure of a contraction....

Foreclosure markets--wholesale or retail?(RESIDENTIAL APPRAISING)
June 22, 2008... Are there two residential markets-wholesale and retail? Does the market evidence show that buyers of owner-occupied homes pay more than buyers of foreclosed properties? Do appraisers need to treat appraisals of repossessed properties...

Standard ground value in the context of the harmonization of property valuation.(INTERNATIONAL APPRAISING)(Report)
June 22, 2008... Abstract With the growing internationalization of the real estate industry, the pressure to harmonize property valuations is increasing. The International Valuation Standards Committee has addressed this need with the release of the...

Viewshed analyses to measure the impact of lake views on urban residential properties.(Report)
June 22, 2008... ABSTRACT Views of two man-made lakes from nearby single-family homes in Omaha, Nebraska, were determined through multiple listing service (MLS) and geographic information system (GIS) frontage classifications, and alternative GIS-based...

The Lake Tahoe Basin: appraising in a heavily regulated market.
June 22, 2008... ABSTRACT The existence of the Tahoe Regional Planning Agency (TRPA), and its associated rules and regulations, make the appraisal experience in the Lake Tahoe Basin extremely challenging. The TRPA has created value considerations that are...

Risk premiums in cap rates of investment property.(Report)
June 22, 2008... ABSTRACT This article reports the results of a study about the correlations and patterns over time between the composite elements of the initial yield in the prime office and retail property markets in the Netherlands, the United Kingdom...

Under the microscope: dissection of a contingent valuation survey.(Report)
June 22, 2008... ABSTRACT Recently, appraisers and real estate economists have relied upon a survey-based method called contingent valuation (CV) as an approach for estimating potential property value losses associated with environmental disamenities. This...

A note for appraisers on option valuation.(Report)
June 22, 2008... ABSTRACT The mathematical complexity of options makes the valuation and use of these instruments intimidating for most individuals. While real estate appraisers may initially share this response, appraisers' experience estimating...

The making of the 13th edition of The Appraisal of Real Estate.(NOTES AND ISSUES)
June 22, 2008... In this election year, the word change is in danger of losing all meaning through rampant overuse. Similarly, in corporate settings the term has become almost as tiresome as the once-meaningful buzzwords paradigm and proactive. The frequency...

Architectural branding.(NOTES AND ISSUES)(Reprint)(Company overview)
June 22, 2008... Abstract This article discusses architectural branding and leading architectural firms, such as Foster & Partners the Renzo Piano Building Workshop, and the Richard Rogers Partnership, that have achieved the status of international brands....

Size Matters! Measuring and Calculating Residential Square Footage.(Book review)
June 22, 2008... Size Matters! Measuring and Calculating Residential Square Footage by D. Hamp Thomas--The Measure Man Published by The Measure Man, LLC, in association with Carolina Appraisers & Real Estate, 2008, 159 pages $24.95, softcover ...

Comments on "Letter to the Editor".(Letter to the editor)
June 22, 2008... Mr. Hugh J. Totten, JD, argues convincingly that The Appraisal Journal should adopt the rigor of scientific journals and not follow the subjectivity of artistic judgment (Spring 2008). He states, Novel or not, a manuscript must be...