Appraisal Journal articles from October 2000

Appraisal Journal archives from October 2000

Adjusting Environmental Case Study Comparables by Using an Environmental Risk Scoring System.(Property appraisal)(Column)
October 1, 2000... Comparables, Case Studies, and Stigma Adjustment Factors As frequently mentioned in this column over the past few years, environmental risk/stigma is typically estimated based upon case studies of other properties affected by environmental...

Real Estate Market Update, Outlook, and a Behavioral Look at the Technological Revolution.(Column)
October 1, 2000... Commentary In our Commentary in the second quarter issue, we concentrated our future-oriented comments on the potential impact of technological advances on the real estate industry. We noted that technological advances (including...

August 2000.
October 1, 2000... The mission statement for the National Council of Real Estate Investment Fiduciaries (NCREIF) valuation committee is, "To represent the various member constituencies in the promotion of credible valuation standards and techniques for the...

Graphics Improve the Analysis of Income Data.
October 1, 2000... abstract Computer graphing is a powerful and accessible tool for forecasting income. This article discusses how providing clients with a visual display of income data can enhance the readability, credibility, and persuasiveness of an...

National Survey of Residential Appraisers Shows SRAs Have More Earning Power.(Residential Appraisal Member of the Appraisal Institute)(Statistical Data Included)
October 1, 2000... abstract The principal findings of the 1999 Residential Real Estate Appraisal Study provides insight on appraiser income, work product, client types, and use of technology. SRAs are found to represent a distinctive segment of the U.S....

Valuation of Affordable Housing with Tax Credits.(Low Income Housing Tax Credit)
October 1, 2000... abstract This article attempts to link the various interests in a Low Income Housing Tax Credit (LIHTC) project to provide a methodology for determining the most probable price to the typical investor. Since a for-profit institutional...

Understanding the Evolution of Conservation Easement Appraisal Through Case Law.(Estate planning for natural spaces)
October 1, 2000... abstract The conservation easement has become an increasingly popular approach to tax reduction and land conservation. A conservation easement provides income and estate tax benefits to landowners who make a charitable donation of the...

Valuing Scenic Land Conservation Easements.(Tax implications)
October 1, 2000... abstract Most easements grant to nonproperty owners access rights over a parcel of property or the right to transport gas or electricity from one point to another. In contrast, conservation easements convey specified future development...

Analyzing the Market for Convenience Stores: The Changing Convenience Store Industry.(Techniques)
October 1, 2000... abstract The location quotient is a useful tool for measuring the supply and demand for convenience stores in a local market. The calculation is simple and the concept is easy for the reader of an appraisal report to understand. This...

How Australian Appraisers Assess Contaminated Land.(technique)
October 1, 2000... abstract The availability of more information about land contamination, the short supply of development worthy land in urban areas, and the relatively low value of contaminated land have created a niche market in recent years for...

Land Use: The Second Battle of Gettysburg.(Private vs. public development at a national park)
October 1, 2000... abstract Located within 400 miles of 75% of the nation's population, Gettysburg attracts nearly 4.5 million visitors annually. The federally owned, tax-exempt park that virtually surrounds Gettysburg is a source of animosity among city...

The Valuation of Permanent Plantings.(orchards, groves, vineyards)
October 1, 2000... Chapter 20, The Appraisal of Rural Property abstract An orchard or vineyard is a permanent planting, a specialized property that presents a unique appraisal situation. The appraiser must focus on the specific horticultural crop...

A Survey of the Technology Astuteness of the Appraisal Industry.(analysis of results)
October 1, 2000... The multiple tentacles of technology have opened numerous doors of opportunity through increased savings and improved productivity. This effect is certainly evident in the real estate appraisal industry. Technology has moved appraisers away...

Several Papers of Note from the American Real Estate Society Annual Meeting.(abstracts)
October 1, 2000... The Sixteenth Annual ARES Meeting was held in Santa Barbara, California last March. Over one hundred papers and panels were presented by academicians, PhD students, and researchers, as well as by professionals from the "real world." The...

Value of contaminated land ruled on by state supreme court.(Utah case)(Brief Article)
October 1, 2000... The state tax commission properly determined the assessed value of a residential property by valuing contaminated land at zero and the home at its value-in-use, according to the Supreme Court of Utah. Jeff and Victoria Schmidt owned 2.7...

Possibility of rezoning relevant to value of condemned property.(Supreme Court of Michigan decision)(Brief Article)
October 1, 2000... An appraisal based on the possibility of obtaining a rezoning variance is relevant and admissible in a condemnation action, according to the Supreme Court of Michigan. The Department of Transportation (DOT) condemned a portion of Archie...

Portion of use qualifies facility for partial tax exemption.(Streeterville Corp. granted partial exemption for hospital use)(Brief Article)
October 1, 2000... Even where a nonexempt use of property is more than merely incidental, the property may nonetheless qualify for a partial real estate tax exemption where an identifiable portion of the property is used for exempt purposes, according to the...

Bankruptcy sale price not appropriate tax value.(North Carolina case)(Brief Article)
October 1, 2000... A property's sale price at a bankruptcy sale was not the property's appropriate tax value, according to the Court of Appeals of North Carolina. Phoenix Limited Partnership disputed the 1993 tax valuation of its property, a 29-story office...

Public Interest Value gains support in court decision.(Northern California case)(Brief Article)
October 1, 2000... The U.S. District Court for the Northern District of California issued a verdict on July 27, 2000 that raises the perceived legitimacy of the concept of public interest value. Judge Charles Breyer rejected a claim by Plaintiff Dale Hansen,...

What's It Worth? A Guide to Valuing a Small Business.(Brief Article)(Review)
October 1, 2000... Lloyd R. Manning. The Oasis Press, P.O. Box 3727, Central Point, Oregon 97502, 294 pages $22.95 I chose to review this book because I am considering expanding into the field of business appraisal. It turns out this book probably is...

Inspecting Apartment Buildings.(Review)
October 1, 2000... Dan O'Connell, MAI. Groundwork Publishing, Encino, California, 164 pages $24.95 The journey from learning appraisal methodology to actually completing an appraisal is often impeded by the need to physically inspect the subject...

The Handbook of Advanced Business Valuation.(Review)
October 1, 2000... Edited by Robert F. Reilly and Robert P. Schweihs. McGraw-Hill, a division of the McGraw-Hill Companies, New York, NY 512 pages, hardbound. $95.00 Business appraisers do a lot more than value real estate-related going concerns. Both...

Letters to the editor.
October 1, 2000... Valuing Special Use Properties in Court Proceedings We appreciate the input of Ahmed Kooros and Theodore Reynolds Smith regarding the asserted underuse of the opportunity cost approach in court proceedings involving the valuation of special...

Residential Sales Comparison Approach: Deriving, Documenting, and Defending Your Value Opinion.(Review)
October 1, 2000... Real estate professionals who deal with real property every day often develop a sixth sense about value, but have a difficult time explaining their thought processes and opinions to others. Residential Sales Comparison Approach: Deriving,...

Capitalization Theory & Techniques Study Guide, second edition.(Review)
October 1, 2000... Since it was first published in 1973, Capitalization Theory and Techniques, Study Guide has served as an essential resource for students of the income capitalization approach to value. Throughout the text's long life, readers have responded to...

A Guide to Appraisal Valuation Modeling.(Review)
October 1, 2000... Automation of the appraisal process expedites the underwriting process and is an attractive option for lenders, who have traditionally been appraisers' largest clients. In our increasingly competitive marketplace, data sources are proliferating...