Appraisal Journal articles from October 1993

Appraisal Journal archives from October 1993

Privatization: the sale of the century.
October 1, 1993... "Privatization. Pretty ugly word to describe a vibrant and growing trend the world over. In countries that are lesser developed and in countries that are greater developed, the dead hand of government is being pried from enterprises and...

House sizing: a cooperative venture.
October 1, 1993... "What is the square footage of that house?" It may seem like a simple question, but in fact providing a definitive answer is far from easy. Many articles have been written in an attempt to resolve the measurement dilemma, but the fact remains...

Computer-assisted real estate appraisal: a California savings and loan case study. (includes appendix)
October 1, 1993... For many years the real estate appraisal profession has provided the mortgage finance industry with documented, objective valuations of the real estate properties that collateralize mortgages. Developed in the 1930s, these appraisal techniques...

Adjusting house prices for intra-neighborhood traffic differences.
October 1, 1993... When valuing property, an appraiser considers the impact of external factors on valuation. These external factors include any feature of a property that is not an actual property characteristic. For instance, street conditions, police protection,...

Stein rule estimation in real estate appraisal.
October 1, 1993... Multiple regression analysis (MRA) is used by appraisers and assessors as an input to value estimation.(1) The approach is economical and makes use of the growing amounts of data available to an appraiser. Ordinary least squares (OLS) is the...

Supply-saturation - induced external obsolescence: two techniques for quantifying value loss.
October 1, 1993... During the 1980s, the United States experienced an unparalleled development frenzy. Stimulated by abundant financing, fee-driven developers and financiers, and an expanding economy, the supply of commercial real estate nearly doubled over this...

Three approaches? (perspectives about the appraisal process)
October 1, 1993... It is difficult enough to appraise a particular property using a method that approximates what actual buyers use in the market. To apply one or more other methods that buyers neither use nor care about is like discovering that the spare tire in...

Market value: does one size really fit all?
October 1, 1993... Among the more frustrating challenges of communicating valuation analyses are the multiple perspectives of what constitutes value. One definition of value should not be relied on to serve all needs. Inherent in any value definition, such as...

Adjusting overall rates and gross income multipliers: a fresh perspective.
October 1, 1993... Recently, a well-respected tax appeal attorney with a strong background in the valuation of income-producing real estate posed the question of why it is considered taboo for appraisers to make quantitative adjustments to overall capitalization...

Linear regression analysis of economic variables in the sales comparison and income approaches.
October 1, 1993... In "The Use of an Economic Indicator in the Sales Comparison Approach," Andrew J. Moye illustrated the concept of a paired-comparison technique in which the subject's projected net operating income (NOI) per square foot is divided by the...

Effects of asbestos on commercial real estate: a survey of MAI appraisers.
October 1, 1993... Considerable evidence exists that asbestos-containing materials (ACMs) in buildings do not pose a significant health hazard to building occupants.(1) Nonetheless, the health risks associated with exposure to asbestos fibers give rise to legal...

A survey of appraisers regarding factors in discounting partial interests. (includes appendix)
October 1, 1993... The relationship between the value of a partial interest in a real property and the value of the whole may be expressed in one of the following ways: 1. The market value of all of the partial interests is equal to the market value of the...