Appraisal Journal articles from March 2006

Appraisal Journal archives from March 2006

Armstrong/Kahn Award.(Richard L. Parli from Parli Appraisal receives award)(Brief article)
March 22, 2006... Richard L. Parli, MAI, is the winner of the 2005 Armstrong/ Kahn Award and a $1,000 honorarium for his article, "Disassembling Assemblage," which appeared in the Summer 2005 issue of The Appraisal Journal. The Armstrong/Kahn Award is presented...

Swango Award.(Mark R. Rattermann from Resource, LLC)(Brief article)
March 22, 2006... Mark R. Rattermann, MAI, SRA, is the 2005 recipient of the Swango Award and a $1,000 honorarium for his article, "The Market History of the Subject: Analytical Tool or Fourth Approach to Value?" published in the Spring 2005 issue of The...

Marketed but unused city land not tax exempt.(cases in brief)(City of Mt. Pleasant v. State Tax Commission)(Brief article)(Case overview)
March 22, 2006... City land that was marketed for private development was not being used for a public purpose so as to be exempt from real property taxes, according to the Court of Appeals of Michigan. In 1990, the City of Mt. Pleasant purchased 300 acres...

Established, unique business awarded damages due to imminence of condemnation.(cases in brief)(Carroll County Water v. L.J.S.)(land condemnation case)(Brief article)(Case overview)
March 22, 2006... A corporation ceased business operations at its plant more than one year before its property was condemned by a county water authority. This did not preclude an award of business loss damages to the corporation, according to the Court of...

Condemnation to build spur road accessing private business constitutes public purpose.(cases in brief)(Novi v. Adell Children's Funded Trust)(land condemnation case)(Case overview)
March 22, 2006... When a public body establishes a road, pays for it out of public funds, and retains responsibility for its repair, the state constitution allows private land to be condemned for the project. According to the Supreme Court of Michigan, the...

Vacant, commercial property held as investment deemed tax exempt.(cases in brief)(Municipal Employees Retirement Systems of Michigan v. Township of Delta)(Brief article)(Case overview)
March 22, 2006... Vacant commercial property, held by a municipal employee's retirement agency as an investment, was exempt from real property taxes, according to the Court of Appeals of Michigan. The Municipal Employees Retirement Systems of Michigan...

Wildlife regulation not a taking of property without just compensation.(cases in brief)(Coast Range Conifers v. Board of Forestry Supreme Court of Oregon)(Case overview)
March 22, 2006... A state wildlife nesting regulation is not a taking of property without just compensation, according to the Supreme Court of Oregon. A state wildlife regulation prevents Coast Range Conifers, LLC (Coast Range), a logging company, from...

Pre-condemnation activities considered in computing fair market value.(cases in brief)(Reichs Ford v. State Roads Commission)(land condemnation case)(Case overview)
March 22, 2006... A property owner was entitled to seek compensation in an inverse condemnation action for lost rental income and the cost of maintaining the property from the time that the State Highway Administration (Administration) decided to take the...

Restricted access due to condemnation not compensable.(cases in brief)(Brief article)
March 22, 2006... A road improvement project that created a divided highway and left property owners with only one direction for access to their property did not entitle those owners to compensation for diminution of value to the remaining property, according to...

Delayed zoning decision not a taking of property.(cases in brief)
March 22, 2006... A taking of property without just compensation may occur when a property owner has been temporarily deprived of a portion of the economically viable use of the land, according to the Supreme Court of South Carolina. Phelex Byrd (Byrd)...

The capital and spatial markets: converging or diverging?(financial views)
March 22, 2006... Commentary Over the past several years, real estate fundamentals languished as capital flows to the sector increased. The result was a strong bull market driven in large part by a willingness of investors to accept lower yields. This...

Innocent landowner programs and their effects on environmental risk and property value impacts.(environment and the appraiser)
March 22, 2006... This edition of "Environment and the Appraiser" examines the growing use of state programs that protect owners or purchasers of properties that may be impacted by environmental contamination. These parties may be considered "innocent...

Valuation committee meeting notes.(news from NCREIF)(Conference notes)
March 22, 2006... Since the last update from the National Council of Real Estate Investment Fiduciaries (NCREIF), there have been three meetings: June 2005 in Charlotte, North Carolina; October 2005 in Boston, Massachusetts; and February 2006 in Palm Springs,...

Factors that influence university student interest in the appraisal profession.
March 22, 2006... abstract This study examines the attitudes of undergraduate students majoring in real estate and/or finance towards the real estate appraisal profession. The students were divided into two groups based on their interest in becoming a real...

Contemplating the future of business enterprise valuation.
March 22, 2006... abstract Business enterprise value continues to be a perplexing issue. On the positive side, its conceptual validity is generally accepted, and it has attracted a number of advocates over the years within the appraisal discipline. On the...

Sales comparison analysis of power-generating assets: the role of structure and time.
March 22, 2006... abstract Valuing power-generating assets by the sales comparison methodology is complicated by the fact that these assets are often sold in heterogeneous portfolios. This article documents a difference in valuation levels between...

Neighborhood stigma twenty years later: revisiting superfund sites in suburban New Jersey.(Case study)
March 22, 2006... abstract Six Superfund hazardous waste sites in suburban New Jersey were examined for evidence of long-term stigma. Two decades after being added to the Superfund list, the areas immediately surrounding four of the six sites show some, but...

Toxic mold liability update: implications of Kilian v. Equity Residential Trust.
March 22, 2006... abstract This article looks at the 2004 federal district court decision in Kilian v. Equity Residential Trust and its impact on toxic mold litigation. In Kilian, the court dismissed a mold-related claim based on scientific evidence showing...

The costs and benefits of historic properties.
March 22, 2006... abstract The preservation movement in the United States has grown considerably both in scope and in visibility. interest in historic sites and the desire to preserve them have led to increased legislation at the federal, state, and local...

Changes in qualifying education, curriculum, and designations.(notes and issues)(Appraisal Qualifications Board)
March 22, 2006... The Appraisal Qualifications Board (AQB) of The Appraisal Foundation has adopted changes to the Real Property Appraiser Qualification Criteria that will become effective January 1, 2008. These changes represent the minimum qualifications that...

Building Type Basics for Housing.(Book review)
March 22, 2006... Building Type Basics for Housing by Robert Chandler, John Clancy, David Dixon, Joan Goody, Geoffrey Wooding, with Jean Lawrence Published by John Wiley and Sons, Inc., Hoboken, New Jersey, 2005, 213 pages $70.00, hardcover Creating...

Construction Specifications Writing, 5th Edition.(Book review)
March 22, 2006... Construction Specifications Writing, 5th Edition by Harold J. Rosen and John R. Regener Jr. Published by John Wiley and Sons, Inc., Hoboken, New Jersey, 2005, 428 pages $80.00, softcover Are you sufficiently adept at gathering...