Appraisal Journal articles from March 2008

Appraisal Journal archives from March 2008

Armstrong/Kahn Award.(Brief article)
March 22, 2008... [ILLUSTRATION OMITTED] John D. Dorchester, Jr., MAI, is the winner of the 2007 Armstrong/ Kahn Award and a $1,000 honorarium for his article, "Voices in the Evolution of Appraising: Hindsights and Insights," which appeared in the Summer...

Swango Award.
March 22, 2008... [ILLUSTRATIONS OMITTED] The co-winners of the 2007 Swango Award are Rudy Robinson III, MAI, and Scott R. Lucas for their article, "Seller Disclosure and Buyer Knowledge: How They Affect Market Value"; and Bruce M. Closser, MAI, SRA, for...

Appraisal Journal Outstanding Service Award.(Brief article)
March 22, 2008... [ILLUSTRATION OMITTED] Anthony C. Barna, MAI, SRA, is the winner of the 2007 Appraisal Journal Outstanding Service Award. This award recognizes the member of The Appraisal Journal's Editorial Board, Review Panel, or Academic Review Panel...

Improvements that do not assist persons with mobility disabilities in propelling themselves do not qualify for property tax exemption.(Recent Court Decisions)
March 22, 2008... The tax assessment of residential property includes the value of improvements constructed to assist persons with disabilities unless the improvements specifically aid persons to propel themselves, according to the Supreme Court of New...

Landowner can prevent condemnation by showing that legislature's stated reason for the taking is pretextual and serves no public purpose.(Recent Court Decisions)
March 22, 2008... The District of Columbia Court of Appeals held that a landowner can defend against a proposed condemnation by demonstrating that the declared public purpose for the taking is a mere pretext for conferring benefits on private parties. ...

Charity's commercial use of property to fund charitable activities does not render it ineligible for an exemption.(Recent Court Decisions)(Afton Historical Society Press )
March 22, 2008... The Supreme Court of Minnesota ruled that a nonprofit book publisher that engaged in contract publishing to cover its operating costs was entitled to a property tax exemption when its primary purpose was charitable and its commercial activity...

Ownership of parcel must be based on the strength of plaintiff's title, not on weaknesses in neighbor's title.(Recent Court Decisions)(Margie McRae)
March 22, 2008... The Supreme Court of Georgia held that a landowner could not establish ownership over property excluded from her deed by relying on the boundaries set in the deed of an adjacent parcel. In 2000, Margie McRae purchased a parcel on St....

County cannot alter the state revenue commissioner's valuation of property owned by a statewide public utility.(Recent Court Decisions)
March 22, 2008... When the state revenue commissioner determines the total market value of all property held by a public utility in the state, apportions the value between counties, and sets a tax assessment ratio, a county can modify the assessment ratio but...

Implied easement does not cease to exist when it becomes unnecessary for enjoyment of dominant estate.(Recent Court Decisions)
March 22, 2008... When a landowner sold a parcel accessible only by a private road located on his retained land, an implied easement to use the road arose in favor of the severed parcel and continued to exist even when the parcel became accessible by other...

Owner of mobile home park liable for property taxes on unoccupied manufactured housing units held for sale.(Recent Court Decisions)(Green Meadows Mobile Homes, Inc.)
March 22, 2008... The Supreme Court of New Hampshire ruled that the owner of a mobile home park was liable for property taxes on mobile home units held for sale, regardless of whether the units were connected to utilities, when the owner was not a dealer of...

Club membership fee included in valuation of condominium when membership is requirement for ownership in the community.(Recent Court Decisions)(Cedars Club )
March 22, 2008... A nonrefundable club membership fee was properly included in the assessed value of a condominium in a retirement community when membership was a requirement of owning community property, according to the Court of Appeals of North Carolina. ...

No clear answers.(FINANCIAL VIEWS)(Company overview)
March 22, 2008... Commentary Going into 2008, there were some questions whether the U.S. economy was in danger of slipping into a recession. Until recently, some observers argued things were not as bad as they seemed, but many believed we were in the early...

Green buildings: valuation issues and perspectives.(ENVIRONMENT AND THE APPRAISER)(Reprint)
March 22, 2008... Architects, developers, urban planners, and others have shown a growing interest in the issue of sustainable development for several years. As the design and development of buildings with "green" features becomes more prevalent, appraisers will...

Valuation committee meeting notes.(NEWS FROM NCREIF)(Conference notes)
March 22, 2008... Te National Council of Real Estate Investment Fiduciaries (NCREIF) held its 2008 Winter Conference in Phoenix, Arizona, March 4-6, 2008. The general sessions, which were attended by members of all NCREIF committees, included interesting...

The appraisal of water rights: valuation methodology.(Cover story)
March 22, 2008... ABSTRACT This article is part two of a two-part article on the appraisal of water rights. It builds upon the foundation laid in the previous article In The Appraisal Journal titled, "The Appraisal of Water Rights: Their Nature and...

An introduction to the valuation of aircraft Hangars-Part 2.
March 22, 2008... ABSTRACT This article provides an overview of the general considerations for the valuation and analysis of aircraft hangars. Hangars are a special-use type of property with specific and unique considerations. The article is presented in...

Expropriation appraisal review.
March 22, 2008... ABSTRACT This article discusses appraisal review in general and as it relates to expropriation or condemnation appraisals. Scope of work obligates an appraiser to fashion a solution and plan of action consistent with the intended use of...

Daubert and the appraisal expert witness revisited.
March 22, 2008... ABSTRACT Since the Daubert v. Merrell Dow Pharmaceuticals, Inc. decision in 1993, plaintiffs and defendants have used two primary arguments in applying Daubert to expert witness testimony in real estate valuation cases: the use of a...

Asset impairment accounting and appraisers: evidence from Japan.
March 22, 2008... ABSTRACT The asset impairment accounting system has been introduced throughout the world since the mid-1990s. Even in Japan it has been extensively introduced since 2006. This article clarifies the characteristics of companies that used...

Property Investment Appraisal, 3rd Edition.(Book review)
March 22, 2008... Property Investment Appraisal, 3rd Edition by Andrew Baum and Nell Crosby Published by Blackwell Publishing, Oxford, United Kingdom, 2008, 319 pages $75.00, softcover The United Kingdom and London in particular have a distinctive...

Comments on "A Message from the Editor-in-Chief".(Letter to the editor)
March 22, 2008... I read with great interest "A Message from the Editor-in-Chief" (Summer 2007). In it, the Editor-in-Chief, Stephen T. Crosson, MAI, SRA, recounts that The Appraisal Journal's Editorial Board had recently reaffirmed the Journal's status as "a...