Appraisal Journal articles from October 1998

Appraisal Journal archives from October 1998

Inside the profession: job satisfaction and realizable goals.
October 1, 1998... Although appraisers and their clients have been surveyed and studied numerous times during the 1980s and 1990s, until recently it has been difficult to conduct a truly representative survey-based study because accessing a sampling frame(1) that...

A logical approach to appraising railroad right of ways.
October 1, 1998... In beginning a right-of-way (ROW) appraisal assignment, appraisers should meet with their clients and agree on the services their clients desire or should have. These may be an appraisal, a highest and best use study, a consultation or something...

The peculiarities of appraising auto dealership facilities.
October 1, 1998... Auto dealership facilities are considered special use or special purpose properties, which means that they cannot typically be assigned other uses. This is not to say the property has a limited use and that use value is to be obtained, for this...

Why capitalization rates of single-tenant properties vary.
October 1, 1998... Net-leased single-tenant properties make up a unique niche in the real estate market. As opposed to an apartment building, an office building, or a strip center, when a single-tenant building has a single vacancy, it is experiencing 100% vacancy....

Supporting capitalization rates.
October 1, 1998... Appraisal texts and courses describe numerous methods to determine a capitalization rate (also known as overall rate, OAR, cap rate, or [R.sub.o]). In their article, Joseph Martin and Mark Sussman discussed 12 generally accepted ways an overall...

URAR site comments often poorly developed. (Uniform Residential Appraisal Report)
October 1, 1998... The text or comment portion of the "Site" section is perhaps the most underused part of the Uniform Residential Appraisal Report (URAR) form, also known as Fannie Mae 1004/Freddie Mac 70. This portion of an appraisal report can provide much...

The impact of detrimental conditions on property values.
October 1, 1998... There are over 200 detrimental conditions (DCs) that can affect real estate values. They include temporary easements, airport noise, construction defects, serious toxic waste, geotechnical issues, and natural disasters. Determining the diminution...

Challenges in the appraisal of private golf clubs.
October 1, 1998... In any appraisal assignment, an appraiser begins by identifying the property rights to be valued - a task that can be very confusing in the case of private clubs because property rights are often divided in ways unique to these properties. Since...

Evidence or rational market valuations for home energy efficiency.
October 1, 1998... Investments in high-efficiency heating and air conditioning equipment, insulation, and other energy-efficient home features have historically been justified and promoted based on the investment payback to the homeowner. The payback period is the...

Special-design properties: identifying the "market" in market value.
October 1, 1998... Appraisers are sometimes asked to estimate the market value of a property with a unique physical design, special construction materials, or a layout designed for a specific use or particular user. This type of property is commonly referred to as...

How client pressure affects the appraisal of residential property.
October 1, 1998... This study reports the findings of a survey of Appraisal Institute designated members, associate members, and affiliate members. The survey is intended to identify and measure the impact of client pressure on the appraisal of residential...