Appraisal Journal articles from March 2009

Appraisal Journal archives from March 2009

Armstrong/Kahn Award.(Kristy E. Mathews)(Brief article)
March 22, 2009... [ILLUSTRATION OMITTED] Kristy E. Mathews is the winner of the 2008 Armstrong/Kahn Award and a $1000 honorarium for her article, "Under the Microscope: Dissection of a Contingent Valuation Survey," which appeared in the Summer 2008 issue of...

Swango Award.(Randall Bell)(Brief article)
March 22, 2009... [ILLUSTRATION OMITTED] Randall Bell, MAI, is the winner of the 2008 Swango Award and a $1000 honorarium for his article, "Contaminated Waterways and Property Valuation," which was published in the Fall 2008 issue of The Appraisal Journal....

Academic Article Award.(Steven Shultz and Nick Schmitz)
March 22, 2009... [ILLUSTRATION OMITTED] Steven Shultz, PhD, and Nick Schmitz are the winners of the 2008 Academic Article Award and a $1000 honorarium for their article, "Viewshed Analyses to Measure the Impact of Lake Views on Urban Residential...

Appraisal Journal Outstanding Service Award.(Nathan Pomerantz)(Brief article)
March 22, 2009... [ILLUSTRATION OMITTED] Nathan Pomerantz, MAI, is the winner of the 2008 Appraisal Journal Outstanding Service Award. This award recognizes the member of The Appraisal Journal's Editorial Board, Review Panel, or Academic Review Panel who...

Appraisal commissioned to resolve purchase-price dispute must conform to professional standards.(Recent Court Decisions)
March 22, 2009... When parties agree to base a purchase price on a professional appraisal, they will be bound only by an appraisal that conforms to professional standards, according to the Court of Appeals of Arizona. Swain Chapman owns 12.57% of a...

Manufactured home's status as real property does not depend on surrender of motor vehicle title.(Recent Court Decisions)
March 22, 2009... The Court of Appeals of Ohio ruled that a manufactured home was properly appraised as real property when it was affixed to the land, regardless of whether the motor vehicle title had been surrendered. Robert Rickett is a certified real...

Increasingly frequent use of easement does not constitute excessive use.(Recent Court Decisions)(Brief article)
March 22, 2009... When property was subject to an easement for golf balls, an increase in the number of balls entering the lot was within the scope of the easement and did not constitute excessive use, according to the Court of Appeals of Georgia. James and...

Derelict fee statute may not be used to satisfy minimum lot size required for building purposes.(Recent Court Decisions)(Brief article)
March 22, 2009... The Appeals Court of Massachusetts ruled that a landowner was not entitled to include the portion of his property located in a right-of-way when calculating lot area for purposes of zoning requirements. James Sears owns a 4,800-square-foot...

Property's total value must be allocated appropriately between land and improvements.(Recent Court Decisions)(Brief article)
March 22, 2009... The Supreme Court of Ohio ruled that a board of tax appeals could not arbitrarily allocate value between land and improvements, even when the property's total value was properly assessed. Polaris Amphitheater Concerts, Inc. (Polaris) owns...

Disinterested appraiser has arbitral immunity; expert appraiser has no immunity.(Recent Court Decisions)
March 22, 2009... The California Court of Appeal ruled that a disinterested appraiser has immunity for his role in an appraisal conducted pursuant to law but that an appraiser hired as an expert has no immunity for his actions in the same proceeding. ...

Value of leased fee relevant to fee simple value of property subject to long-term lease.(Recent Court Decisions)
March 22, 2009... In valuing the fee interest of property subject to a long-term, build-to-suit lease, an appraiser properly considered the value of the leased fee, according to the New York Supreme Court, Appellate Division. In the town of Colonie, a Rite...

Appraisal of commercial property must reflect the land's income-producing potential.(Recent Court Decisions)
March 22, 2009... When a parcel had inherent income-producing capacity because of its location, an appraisal based on sales of lots without commercial value was improper, according to the Mississippi Court of Appeals. For fourteen years, Bonnie Burks...

When good things happen to bad properties.(ENVIRONMENT AND THE APPRAISER)(Report)
March 22, 2009... Most studies of the effects of environmental contamination on property values have focused on the adverse consequences of contamination on the market value of the impacted properties. (1) For example, a recent book, When Bad Things Happen to...

Appraising interesting holes in the ground.(Report)
March 22, 2009... ABSTRACT A show cave is one example of where real estate is so intertwined with a business that the appraiser cannot properly value the real estate without also considering the enterprise. One solution to the real estate appraisal problem...

Market prices and capitalization rates for commercial real estate in Ukraine.(Report)
March 22, 2009... ABSTRACT In this article, capitalization rates, based on market price data for commercial real estate transactions from 2006 through the first quarter of 2008, for Kiev and 25 regional cities in Ukraine, were calculated and analyzed to...

Indigenous Peoples and Real Estate Valuation.(Book review)
March 22, 2009... Indigenous Peoples and Real Estate Valuation Edited by Robert A. Simons, Rachel Malmgren, and Garrick Small Published by Springer Science + Business Media, LLC, New York, 2008, 289 pages $129.00, hardcover * Who exactly are...