Appraisal Journal articles from September 2007

Appraisal Journal archives from September 2007

A message from the President of the Appraisal Institute.
September 22, 2007... Throughout this year, as the Appraisal Institute and The Appraisal Journal have marked 75th year anniversaries, we've had the opportunity to revisit and reflect on many of the foundational elements of our profession. Under the dedicated...

Churches used only for storage not entitled to tax exemption.(Recent Court Decisions)
September 22, 2007... Deconsecrated churches no longer used for worship and used only to store religious items are not exempt from property taxation, according to the Supreme Court of New Hampshire. In 2003, the Roman Catholic Bishop of Manchester reorganized...

Compensation for property damages measured by loss in property value, not cost of restoring the property.(Recent Court Decisions)
September 22, 2007... The Supreme Court of Alabama ruled that the proper measure of compensation for property damage is the diminution in fair market value caused by the damage, even when the cost of restoring the property exceeds the diminution in value. ...

Landowner not entitled to compensation for impairment of property's visibility from highway caused by state's construction.(Recent Court Decisions)(Marilyn Hickey Ministries )
September 22, 2007... A property owner whose land was partially condemned is not entitled to compensation for the impairment of passing motorists' views of the remaining property caused by a wall built on the condemned parcel, according to the Supreme Court of...

Economic factors alone are insufficient to support a determination of blight.(Recent Court Decisions)
September 22, 2007... For purposes of private redevelopment, property cannot be condemned as blighted unless the area has become both an economic and a social liability, according to the Supreme Court of Missouri. Clayton, Missouri, a city in the St. Louis...

Property cannot be condemned as blighted solely because it is not fully productive.(Recent Court Decisions)
September 22, 2007... A statute authorizing the use of eminent domain to redevelop unproductive land permits the condemnation of stagnant property only when its current use negatively affected surrounding areas, according to the Supreme Court of New Jersey. ...

Property's market value not enhanced by owner's right to access underground gas reservoirs or by proximity to the reservoirs.(Recent Court Decisions)
September 22, 2007... The property tax assessment of a parcel owned by a natural gas company does not include the company's rights to access gas reservoirs under property owned by others or the parcel's proximity to the reservoirs, according to the Supreme Court of...

Charitable purpose tax exemption depends on institution's use of the property, not source of funding.(Recent Court Decisions)
September 22, 2007... A nonprofit health care provider that accepts reimbursement from private insurers and from the government is entitled to a charitable purpose tax exemption when its property is used to provide healthcare regardless of patients' ability to pay....

Tributary is included in measure of parcel's area and does not divide parcel into separate lots.(Recent Court Decisions)
September 22, 2007... A navigable stream that flows across a parcel does not divide the parcel into two separate lots when both shores of the stream are commonly owned, according to the Supreme Court of Wisconsin. The court also ruled that a streambed may be...

At the crossroads of expansion and recession.(FINANCIAL VIEWS)
September 22, 2007... Commentary Over the past several years, the U.S. economy has enjoyed a period of record-low interest rates, low inflation, and relatively strong growth in terms of gross domestic product (GDP), corporate earnings, consumer spending, and...

Power lines and property values revisited.(ENVIRONMENT AND THE APPRAISER)
September 22, 2007... This edition of "Environment and the Appraiser" revisits an issue that has been extensively studied but has recently received little attention. While issues concerning the health effects of electromagnetic fields are beyond the scope of this...

The education of a profession.
September 22, 2007... ABSTRACT The appraisal profession has benefited because its founders made the dissemination of real estate valuation knowledge a priority. This article examines the origins of the appraisal education program of the Appraisal Institute and...

Comments on training of appraisers.(Reprint)
September 22, 2007... ABSTRACT In this article, "An eminent educator urges that appraisers undertake a more thorough training in valuation theory and in the interpretation of general economic trends." Weimer's article, published less than twelve years after the...

Value implications of current trends in road access management.
September 22, 2007... ABSTRACT Reasonable access is a key component of value. Appraisal of property along traffic routes requires consideration of access constraints that may affect a property's utility and value. This article describes issues related to access...

Antiterrorism security measures for commercial buildings: inspection and appraisal guidelines.(Report)
September 22, 2007... ABSTRACT Heightened awareness of global and domestic terrorism has forced tenants, landlords, and managers of many commercial buildings to incorporate security enhancements in an effort to thwart such activity. Antiterrorism security...

The effect of distance to cell phone towers on house prices in Florida.
September 22, 2007... ABSTRACT This article outlines the results of a study carried out in Florida in 2004 regarding the effect that cell phone tower proximity has on residential property prices. The study involved an analysis of residential property sales...

Appraisal Institute education: knowledge--experience--integrity.(NOTES AND ISSUES)
September 22, 2007... The Appraisal Institute is the premier provider of professional appraiser education. Knowledge, experience, and integrity are the core of the Appraisal Institute's education and publications. And while it may be thought that experience is not...

Appraisal procedure of federal agencies.(A LOOK BACK)(Reprint)
September 22, 2007... Abstract In recent years, The Appraisal Journal has published a number of articles discussing the latest revisions to federal appraisal report forms. This 1937 article examines federal agencies' forms of the time, which were developed with...

Recollections of appraiser education.(A LOOK BACK)
September 22, 2007... During this 75th anniversary of the Appraisal Institute, I've had the opportunity to look back at my career and at the appraiser education initiatives in which I have participated. The good news is that I can add to other anecdotal information...

Comments on "The Appraiser's Tool Kit--Then, Now, and Coming".(LETTERS TO THE EDITOR)(Letter to the editor)
September 22, 2007... The nostalgic article, "The Appraiser's Tool Kit--Then, Now, and Coming" (Summer 2007), brought back some great memories of my 47-year career and the changes in equipment for the appraiser's fieldwork. One essential item for appraising the...

Comments on "In Memoriam--James E. Gibbons, MAI, SRA".(LETTERS TO THE EDITOR)(Letter to the editor)
September 22, 2007... Thank you for including the remembrance of James Gibbons in the The Appraisal Journal ("In Memoriam--James E. Gibbons, MAI, SRA," Summer 2007). It is a great tribute to a great man! Everyone whom he touched came away with something very...

Authors' clarification for "An Economic Analysis of Real Estate Conservation Subdivision Developments".(LETTERS TO THE EDITOR)(Letter to the editor)
September 22, 2007... In "An Economic Analysis of Real Estate Conservation Subdivision Developments" (Summer 2007), we are concerned that readers may find the relationship between Equation 1 and the equation immediately above it misleading. Equation 1 is not...

The Valuation of Apartment Properties, second edition.(PUBLICATIONS of the Appraisal Institute)(Brief article)(Book review)
September 22, 2007... [ILLUSTRATION OMITTED] The Valuation of Apartment Properties, 2d edition, presents in-depth analysis of the concepts and issues applicable to the apartment market today. It provides detailed instructions on applying the three approaches to...

Appraisal Institute MAI designation and SRA designation requirements.(ABOUT THE APPRAISAL INSTITUTE)(Table)(List)
September 22, 2007... Appraisal Institute MAI Designation and SRA Designation Requirements MAI Designation SRA Designation Associate membership Associate membership is required to...

Appraisal Institute Education Trust announcement of scholarships.(SCHOLARSHIPS)
September 22, 2007... Each year, the Appraisal Institute Education Trust awards scholarships, grants, and internships to qualified individuals for education or work in the field of real estate appraisal. The Education Trust is now accepting applications for the...