Appraisal Journal articles from October 1996

Appraisal Journal archives from October 1996

Can consumer sentiment surveys forecast housing starts? (includes appendix)
October 1, 1996... A common characteristic of many local housing markets is periodic shortages followed by overbuilding. In a rising interest rate environment, carrying costs can exert a severe financial drain on developers saddled with large inventory. Builders...

Negative and positive impacts of golf course proximity on home prices.
October 1, 1996... Golfing is a major recreational activity and growing business enterprise in the United States. According to the U.S. Bureau of the Census (1992), the number of golfers increased by 147% from 1970 to 1990 with rounds played increasing by 89%...

Appraisals and evaluations - matching valuation products to credit risk.
October 1, 1996... Complete appraisals, Limited appraisals and Evaluations, and Self-Contained, Summary, and Restricted appraisal reports - what does it all mean? In 1994, significant changes in the federal appraisal regulations and appraisal standards introduced...

The legal doctrine of regulatory takings: an evolving issue.
October 1, 1996... In every famous or infamous criminal trial someone will inevitably use their constitutional rights under the Fifth Amendment. In the 1995 version of "the trial of the century," both O. J. Simpson and Los Angeles Police Department detective Mark...

Stigma, environmental risk and property value: 10 critical inquiries.
October 1, 1996... Over the past two decades, real estate appraisers have gained considerable experience in valuing property affected by environmental risk. In fact, many in the appraisal community are now so comfortable analyzing those impacts on property markets...

A formula for tax appraisals of multi-tenant properties.
October 1, 1996... In valuing a multi-tenant property, an appraiser can apply a simple formula(1) that efficiently yields a solution, which satisfies tax law requirements for the property as a whole. The formula provides an estimate of the property's market value,...

Appraisal issues in the valuation of extremely large buildings.
October 1, 1996... What is an extremely large building? The answer varies from market to market. Generally speaking, a building of approximately 1 million square feet or greater is an extremely large property that is not supported by a local or regional...

Land expectation value calculation in timberland valuation.
October 1, 1996... Discounted cash flow (DCF) analysis derives the net present value (NPV) of the net income stream produced by a property. It is a relatively simple calculation, applicable to many timberland appraisal situations. Forestry and timberland investment...

Valuation for loans on restaurants.
October 1, 1996... Can the success of a business alter the value of the real estate on which it is located? Most would argue no; the real estate is independent of the business. Does the quality of the business management affect the value of the real estate? Most...

Warehouse buildings and geographic information systems.
October 1, 1996... Geographic Information Systems (GIS) software is now readily applied to real estate studies and decision-making techniques. This article is based on a study of the warehouse buildings in a typical southern metropolitan area. GIS, census data, and...

Retail market analysis: an intermediate approach to estimate demand.
October 1, 1996... The process of market analysis is a critical step in property valuation, for it provides a framework for highest and best use conclusions. The analysis helps users of appraisal reports understand the economic environment affecting a property. At...