New

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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.

 

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

 

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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.

 

 

This comprehensive text explores senior housing, nursing home, and hospital properties from physical and economic perspectives, providing appraisers with an up-to-date set of tools for determining the productivity, marketability, feasibility, and value of these facilities. Readers will become familiarized with the forces affecting earnings and valuation and will gain knowledge of the techniques needed to assist in the acquisition, lending, investing, developing, and assessment of these properties. Because of the broad scope of topics covered, many nonappraisers—including lenders, equity investors, operators, developers, industry analysts, assessors, and attorneys—will find this book useful.

 

All three traditional approaches to value are closely examined in this book, and Medicare and Medicaid are also discussed in detail. The main focus of the book is the valuation of the going concern assuming a fee simple interest in the real property. In addition, techniques for the allocation of the value of the real property, personal property, and intangible property are covered along with specialized topics such as leased fee and leasehold interests and life plan communities.

 

The health care industry is one of the most competitive sectors of the US economy. The Appraisal of Senior Housing, Nursing Home, and Hospital Properties gives appraisers the tools needed to value these complex properties.

 

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.  

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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.

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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.

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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