Swango Award.

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The co-winners of the 2007 Swango Award are Rudy Robinson III, MAI, and Scott R. Lucas for their article, "Seller Disclosure and Buyer Knowledge: How They Affect Market Value"; and Bruce M. Closser, MAI, SRA, for his article, "The Evolution of Appraiser Ethics and Standards." Both articles were published in the Spring 2007 issue of The Appraisal Journal.

The Editorial Board presents the Swango Award to the best article published in the previous year on a residential, general, or technology-related topic or for original research of benefit to real estate analysts and valuers; the article must be written by an appraisal practitioner. Articles are judged based on practicality and usefulness in addressing issues faced by appraisers in their day-to-day practice; logical analysis, perceptive reasoning, and clarity of presentation; and soundness of methodology used, especially in an area of original research.

In "Seller Disclosure and Buyer Knowledge: How They Affect Market Value," Rudy Robinson III, MAI, and Scott R. Lucas discuss how confirmation of sales data is critical to any appraisal, but takes on additional importance when the purpose of the assignment is to measure the effects of a property condition such as contamination. Often, buyers of both commercial and residential properties have no knowledge or very limited knowledge of a property condition that may greatly affect market value, thus tainting those sales for appraisal purposes. The article by Robinson and Lucas discusses what constitutes a well-informed buyer, suggests questions to ask of market participants, and provides examples of how the extent of disclosure affects the market.

Robinson is the managing partner of Austin Valuation Consultants, Ltd., in Austin, Texas. Robinson specializes in appraising environmentally contaminated properties, especially for litigation purposes. Prior to winning the 2007 Swango Award, he wrote four articles for The Appraisal Journal. He is a frequent guest speaker at real estate conferences and seminars. He graduated from the University of Texas at Austin with a Bachelor of Arts.

Lucas is a senior associate with Austin Valuation Consultants, Ltd. He has written three previous articles for The Appraisal Journal and is a graduate of the University of Texas at Austin, with a bachelor's degree in real estate and urban land development.

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