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The golf industry has undergone dramatic change in recent years, and the market for golf properties has developed and evolved. To value golf course and club properties, appraisers must understand their unique combinations of land and improvements as well as real estate and business. Golf Property Analysis and Valuation, second edition, provides appraisers with an updated guide to the proper techniques, methods, and resources for accurately estimating the value of golf courses. This book can also inform related professionals—including attorneys, lenders, tax assessors, golf course developers and managers, and market participants—about the factors that impact golf course and club economics.

 

The Valuation of Apartment Properties, third edition, provides the tools you need to value apartment properties. This text presents in-depth analysis of concepts and issues that apply to today’s apartment markets. The topics discussed include market analysis, highest and best use analysis, site and improvement analysis, and the techniques applied in the sales comparison, cost, and income capitalization approaches to valuing apartment properties. Two case studies are also included to illustrate the concepts presented and methods applied. The Valuation of Apartment Properties, third edition, will be useful to appraisers and reviewers working in public or private practice in addition to lenders, property owners and managers, buyers, sellers, and legal advisors.

 

The Valuation of Apartment Properties, third edition, provides the most up-to-date information on the proper application of appraisal methodologies for multiunit residential properties.

 

Writing an appraisal report is writing for a deadline. The clock is ticking for both the appraiser and the client. The appraiser wants to complete the appraisal assignment efficiently and communicate the value conclusion to the client as soon as possible. The client, in turn, wants to receive a report that is timely, readable, and credible and one that provides the information needed to answer the client’s question about property value.

 

Both parties feel the pressure, but it is the report writer who bears the responsibility for clear communication. Effective Report Writing: A Guide for Appraisers and Reviewers will help practitioners fulfill that responsibility by carefully considering the purpose and execution of the reporting task and by applying the techniques of professional writers to the report-writing process.

 

Readers of this handbook will learn about

Whether you are new to the task or an old hand at writing appraisal reports, you will benefit from the tips and techniques presented in Effective Report Writing. Sharpen your writing skills and your readers (and clients) will thank you.  

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Learn how to value land, or a leased fee in­terest in land, when:  

• The highest and best use is uncertain or not currently feasible.

• The land is subject to a long-term ground lease.  

 

Land Valuation: Real Solutions to Complex Issues reviews basic land valuation techniques (extraction, allocation, land residual, and ground rent capitalization) and presents advanced and non-traditional methods to help appraisers solve complex land valuation problems. Seven complete case studies and numerous spreadsheets are provided to ensure that readers understand the issues involved and know how to apply the innovative valuation strategies

presented.  

 

Download the case study spreadsheets used in this book.  

 

The dictionary is divided into two sections. The first section presents an alphabetical listing of terms directly related to real estate appraisal. The Addenda section contains information—in five topical glossaries and four other compilations of useful information—that relates more directly to other professional disciplines but is used by, and is of interest to, appraisers.

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The ups and downs of US housing markets make big headlines, but do the reports in the media really provide a full and timely picture of the interaction of supply and demand in residential real estate markets? Although most residential appraisers are familiar with the market trends affecting local property values, many fall short in communicating their understanding of market conditions fairly and accurately to their appraisal clients.

Written by an experienced appraiser and educator, Residential Market Analysis and Highest and Best Use presents practical advice and real-world examples that demonstrate

 

Readers of this new text will learn how to plan and perform appropriately detailed market and highest and best use analyses that lead to credible and supportable value conclusions and convincing appraisal reports.

 

Appraisers in Arbitration, second edition, presents up-to-date information and advice on how appraisers can expand their practices by participating in real estate arbitrations.

 

Arbitration is increasingly seen as an efficient and cost-effective alterna­tive to litigation, and valuation professionals are often called on to serve as arbitrators, expert witnesses, and consultants in arbitration matters. This practical text provides specific advice on how to perform each task required in an arbitration and the standards that apply to each service. Every step in the arbitration process, from the preliminary hearing to the final award, is explained and common arbitration scenarios and real-world examples of in-person and virtual arbitrations are discussed.

 

Appraisers in Arbitration, second edition, is essential reading for valuers who wish to explore how arbitration differs from other areas of practice and learn how to make use of their valuation skills in this new and exciting area of specialization.  

The restaurant business is risky. Owners and operators of restaurants know this, and real estate professionals must know it as well. Appraisers who value restaurant properties should fully understand the opportunities and risks inherent in restaurant operations and how these factors affect real property value.

 

A Guide to Appraising Restaurants is aimed at commercial appraisers, brokers, lenders, and reviewers who wish to explore the complex issues related to valuing restaurant properties. This guide will also help professionals involved in designing, developing, financing, and investing in restaurants understand marketability and valuation issues relating to restaurant properties and what to expect from restaurant property appraisals.

 

The book examines important trends in the restaurant industry and demonstrates market, location, and property analyses and the three approaches to value. Case studies and examples of different valuation scenarios are included to provide real-world insights.

 

Valuing automobile dealerships requires specialized knowledge of the physical features of dealerships as well as trends in the real estate and automotive industries. A Guide to Appraising Automobile Dealerships, second edition, explores changing car buying habits, new business models, and various types of vehicle-related properties and addresses the concerns of users of appraisal reports. Case studies and real-life examples are included along with guidance from industry experts.

 

A Guide to Appraising Automobile Dealerships, second edition, will help commercial real estate appraisers examine the relevant issues considered in the valuation of auto dealerships and offer new insights to professionals involved in the design, development, and financing of these unique properties.

Residential real estate appraisers must have the necessary education, knowledge, and experience to perform their valuation assignments competently. Residential Property Appraisal is an authoritative, accessible text that will prove essential to valuers new to the field as well as more experienced residential appraisers looking for timely information on current topics and issues. The book explores all aspects of home ownership, value, and economics and details all the steps of the appraisal process. Specialty residential property types and markets are thoroughly discussed. Each chapter includes examples illustrating common scenarios encountered in residential appraisal practice and presents definitions of key terms to help the reader understand the important concepts presented.

 

In every appraisal assignment, valuers must identify the scope of work, which describes the extent of the appraiser’s investigation and the analysis applied to answer the client’s question about property value. The scope of work concept is fundamental to appraisal, and its proper application ensures that appraisers can provide a wide range of services and maintain flexibility in their assignments, which has become increasingly important in our rapidly changing business environment.

 

This new edition of Scope of Work addresses the evolution of the scope of work concept in the appraisal profession and the current scope of work requirements presented in the Uniform Standards of Professional Appraisal Practice (USPAP), the Appraisal Institute Standards of Valuation Practice (SVP), and the International Valuation Standards (IVS). Case studies and appraisal report templates are provided to help appraisers understand how scope of work can be applied in a variety of assignments. This valuable text can help appraisers customize their work products to successfully meet their clients’ needs while adhering to valuation standards and maintaining professional integrity.
 

The Appraisal of Real Estate, 15th edition, is a book that fits these chaotic times, when a global pandemic and social justice concerns call into question our economy and many other aspects of our lives. Although we know that our work today is not “business as usual,” the Appraisal Institute is proud to present this text 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, longtime readers of The Appraisal of Real Estate will notice these significant changes in this edition:

History confirms that 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. 

 

 

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The Student Handbook to The Appraisal of Real Estate, 15th Edition is a practical tool for learning about real estate valuation independently or in the classroom. Based on the Appraisal Institute's classic textbook, it provides the essential information real estate professionals need to understand the valuation profession, prepare for state examinations, and embark on a career in real estate. The handbook summarizes each chapter of The Appraisal of Real Estate, 15th edition, covering key concepts and important terms. It explains and demonstrates the essential principles and techniques of valuation using examples of situations practitioners are likely to encounter in their daily work. Because problem-solving is the foundation of a valuer's skill set, each chapter of The Student Handbook to The Appraisal of Real Estate, 15th Edition provides review exercises for readers to work through and suggested solutions for classroom discussion and further study.

 

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