While the 15th Edition remains a valuable reference for professional libraries, training environments, and historical context within the appraisal profession, professionals should rely on the most recent edition for appraisal reports, expert testimony, and current standards guidance.
The Appraisal Institute is proud to present The Appraisal of Real Estate, 15th Edition, as confirmation of its faith in, and continuing commitment to, the valuation community and the sound application of recognized valuation methodology.
In addition to updated information on changes in real estate markets and valuation standards, these significant changes appear in this edition:
- New chapters focused on applications of market analysis and highest and best use analysis
- Additional emphasis on identifying the property rights to be appraised in an appraisal assignment
- Deeper discussion of accepted techniques for allocating value among real estate, personal property, and non-realty items
The applicability and importance of different valuation techniques rise and fall as real estate markets and society evolve, but the basic principles of valuation that are at the core of this book, and fundamental to the appraiser’s skill set, remain unchanged.