The Appraisal Journal 2010: Vol 78 Index

2010·2.1 MB·English

INDEX TO VOLUME LXXVIII
Subjects
Accounting standards Capitalization rates
accounting standards incorporating highest and best use, capitalization rates forecasted for multitenant office property
150-158 in Korpacz Real Estate Investor Surveys, 251-261
interrelationship of USPAP standards and accounting checking reasonableness of capitalization rates in
standards, 153, 156-157 appraisal reviews, 246
valuation and accounting standards in Russia, 183-184, investors and capitalization rates, 76
192-193
Cemeteries
American Real Estate Society (ARES) effect of cemetery proximity on sale prices of houses,
noteworthy valuation-related papers from the American 33-49
Real Estate Society annual meeting, 292-295
Class action lawsuits
Appraisal forms requirements for class certification, 141-143
appraisal review forms, 246, 249-250
USPAP Standards Rule 6-2(e) requirements when valuing
completing the Uniform Residential Appraisal Form a group of properties, 147
(URAR) for high-performance houses, 195-201
valuation framework for environmental contamination
Appraisal regulation class actions, 144-146
appraisal standards requirements and regulatory
Commercial property
compliance checklist, 247
commercial leases of rural land, 234-243
Internal Revenue Service’s standards on tax preparers
discounted cash flow assumptions for office property,
applicable to appraisers, 364-366
251-261
provisions in the Home Valuation Code of Conduct affecting
investors’ expectations of vacancy rate for office
appraisal practice, 81-91 properties, 255
provisions in Federal Reserve Regulation Z affecting
office property discounted cash flow assumptions and
appraisal practice, 91
multitenant office properties, 251-261
relationship of operating expenses and CPI, 257
appraisal standards requirements and regulatory
compliance checklist, 247 projection period of cash fiow forecasts, 254-255
completing the Uniform Residential Appraisal Form prospective use appraisal for determining compensation
for takings, 171
(URAR) for high-performance houses, 195-201
rent change expectations in forecasting revenue for office
Appraisal review properties, 255
appraisal review report elements, 249-250
tenant retention and months vacant forecasts for office
appraisal standards requirements and regulatory properties, 255-257
compliance checklist, 247
commonly used appraisal review forms, 249 Computer-assisted valuation
developing a geostatistical model, 275-277, 370-379
developing an appraisal review opinion and report,
using computer-assisted valuation techniques to create
244-250
tax rolls in developing countries, 270-280
twelve steps as starting point for appraisal review
using GIS analysis to classify views from lots, 159-164
assignment, 245-246
using GIS to measure effect of water, mountain, and golf
USPAP provisions related to appraisal report review, 245,
course views on sale prices of lots, 159-168, 240-241
247, 249
using GIS to measure impact of location on residential
Australia property value, 270-282
valuations of rural leasehold and licensed land in Victoria,
Australia, 232-243 Condemnation
determining just compensation for special-use properties
Awards in condemnation actions, 262-269
AIET Academic Article Award, vi-vii (Spring)
prospective use appraisal for determining compensation
AIET Armstrong/Kahn Award, iv (Spring) for takings, 171
AIET Swango Award, v (Spring) state property rights compensation laws, 169-178
Appraisal Journal Outstanding Service Award, iii (Spring)
Cost approach
cost approach as measure of present value, 70-79
Fannie Mae and Freddie Mac lender requirements for cost approach in valuing green construction, 199
residential mortgages in the Home Valuation Code of
Conduct, 81-93 cost approach in valuing low-income tax credit program
housing, 356
cost approach when valuing special-purpose properties, expert witness qualification and USPAP compliance,
263-257 286-287, 289
review of cost approach during an appraisal review, 247 federal rules of evidence related to expert witness
testimony, 283-284
using replacement costs in determining just compensation
for takings of special-purpose properties, 263-264 Externalities
effect of cemetery proximity on sale prices of houses,
Court cases
33-49
court cases interpreting Daubert standards for expert
witness qualification, 284-290 impact of proximity to amenities on residential property
value, 277-282
recent state court decisions, 1-5, 125-128, 213-218,
307-315 Fair market value
ethical implications of “fair” value, 192
Daubert v. Merrell Dow
court cases interpreting Daubert standards for expert fair market value as just compensation in eminent
witness qualification, 284-290 domain actions, 262-265
federal rules of evidence related to expert witness fair value and highest and best use in accounting
testimony, 283-284 standards, 150-158
Discount rate Fee simple estate
discount rate forecasts for multitenant office property, Reconciling value differences between leased fee and fee
251-261 simple estate, 94-1035
discount rate for rent differentials, 94-103 Geographic information system (GIS)
developing a geostatistical model, 275-277, 370-379
Discounted cash flow
discounted cash flow and remedial costs in using GIS analysis to classify views from lots, 159-164
environmental contamination, 145
using GIS to measure impact of location on residential
discounted cash flow and investors’ expectations of property value in Nairobi, Kenya, 283-291
vacancy rate for office properties, 255
Golf courses
office property discounted cash flow assumptions and effect of a golf course view on sale prices of lots, 159-168
multi-tenant office properties, 251-261
Hedonic modeling
relationship of operating expenses and CPI, 257
comparison of Zillow valuation model to standard
projection period of cash flow forecasts, 254-255 hedonic model of sale prices, 26-32
rent change expectations in forecasting revenue for office hedonic regression used to examine price effects of
properties, 255 cemetery proximity, 29-39
tenant retention and months vacant forecasts for office utilizing a spatial hedonic model to assess hierarchy of
properties, 255-257 premiums for water, mountain, and lake view lots,
159-167
Documentation
documentation in appraisal reports, 244-247 Highest and best use
analysis of highest and best use in an appraisal review,
documentation requirements in the Home Valuation Code
247-248
of Conduct, 88
cost approach and highest and best use, 76, 95, 247
documentation when valuing an energy-efficient house,
196-201 FASB definition of highest and best use, 152
Eminent domain highest and best use incorporated into accounting
contract theory as basis for recovery in eminent domain, standards, 150-158
267-268 rent review based on highest and best use, 237-238
definition of public use in eminent domain law, 169 use effects as limitations on highest and best use of
determining compensation for special-use properties in property, 144-149
eminent domain, 262-269 value in use and highest and best use, 263
state laws on compensation in eminent domain actions,
Home Valuation Code of Conduct (HVCC)
169-178
Fannie Mae and Freddie Mac lender requirements for
tort theory as basis for recovery in eminent domain, 268 residential mortgages in the Home Valuation Code of
Conduct, 81-93
Energy-efficient houses
valuing energy-efficient houses, 195-201 Housing markets
housing market data, 104-107
Environmental conditions
environmental conditions class actions lawsuits, 141-149 housing market developments in Europe, 219-227
methodology issues in environmental contamination Hypothesis testing
class actions, 146-148 hypothesis testing of view hierarchy, 164-166
USPAP valuation framework for environmental rejection of null hypothesis in environmental
contamination class actions, 144-147 contamination, 148
Expert witness testimony Impaired value
court cases interpreting Daubert standards for expert impaired value measurement in environmental
witness qualification, 284-290 contamination situations, 144-147
Income capitalization approach expert witness qualifications in involuntary taking
estimation of impaired value using income capitalization assignments, 283-291
approach, 144-145
Leasehold interests
fair market value and income capitalization approach, leased fee value during economic recession, 94-103
263-266
leasehold interests in Russia, 181
income capitalization approach and forecasts for office
properties, 251-261 methodology for valuing rural leasehold and licensed
land, 240-243
income capitalization approach in valuing low-income
tax credit program housing, 356-357 rural leasehold interests in Australia, 233-239
market value through income capitalization approach as Leases
a measurement of future value, 76-79 identifying lease aberrations during an appraisal review,
246-247
review of elements in capitalization approach during an
appraisal review, 246-249 forecasts of months vacant between leases and of tenant
retention, 256-261
trends in discounted cash flow analysis data employed in
income capitalization approach, 251-261 interim use value based on remaining lease terms, 154
Intangible assets market data and trend in water leases, 50-69
intangible assets in valuation assignments, 154 methodology for valuing rural leased and licensed rural
intangible assets of state-owned corporations, 194, 192 land, 240 -243
internal Revenue Code Licensure
Internal Revenue Code disclosure provision consistent HVCC licensure requirements, 87
with USPAP Competency Rule, 366-367 licensure and expert witness qualifications, 284-291
Internal Revenue Code standards on tax preparers licensure of valuation professionals in Russia, 180, 184.
applicable to appraisers, 364-367 187
low-income housing tax credits, 352 required qualifications to work with accountants as an
outside expert, 155
Interim use
interim use of corporate assets, 154 trends in state appraiser licenses, 228-231
interim use value based on remaining lease terms, 154 Location
effect of cemetery proximity on single-family house price,
International appraising
33-49
housing market developments in Europe, 219-227
impact of location on residential property values, 270-282
impact of a view on value of residential lots in Tshwane,
South Africa, 333-349 impact of a view from higher elevation on value of
residential lots, 333-349
professional valuation in Russia, 179-194
using GIS to measure impact of location on residential Low-income housing
property value in Nairobi, Kenya, 283-291 appraisal issues related to the Low-Income Housing Tax
Credit (LIHTC) program, 354-358
valuation of rural leasehold and licensed land in Victoria,
Australia, 232-243 low-income housing tax credits, 352
land use restriction agreements (LU RAs) under low-
Just compensation
income housing program, 351-354
contract theory as basis for just compensation in eminent
domain, 267-268 regulations related to the Low-Income Housing Tax Credit
(LIHTC) program, 350-351
determining just compensation for special-use properties
in eminent domain, 262-269 Market analysis
fair market value as basis for just compensation in analysis of water market trends, 50-69
eminent domain actions, 262-265 farm survey data, 238-239
state initiatives to provide just compensation for land use home price survey data, 104-107
regulations affecting property, 169-178
market analysis of occupancy, 94-103
tort theory as basis for just compensation in eminent
survey of builders on energy-efficient features in homes,
domain actions, 268
200-201
trends in investor forecasting in Korpacz Real Estate
impact of location on residential property value in Investor Survey, 251-261
Nairobi, Kenya, 277-282
using computer-assisted valuation to create tax rolls in Market data
American Housing Survey, 27
developing countries, 270-280
farm survey data, 238-239
effect of a lake view on sale prices of lots, 159-168 home price data, 104-107
market forecasts for multitenant office property, 251-261
Land use regulation
determining compensation for government taking of residential housing market data in Europe, 219-227
property, 169-178, 262-269
survey of builders on energy-efficient features in homes,
200-201
trends in investor forecasting in Korpacz Real Estate Office
Investor Survey, 251-261 discounted cash flow assumptions for multitenant office
properties, 251-261
water data from U.S. Geological Survey, 67
Profit
Market rent
profit in rental of rural property, 242-243
below-market rents, 94-95
gross rent multiplier and contributory value of green Property rights compensation law
features, 199-201 contract theory as basis for just compensation in eminent
domain, 267-268
market rent forecasts in Korpacz Real Estate Survey,
251-261 determining just compensation for special-use properties
in eminent domain, 262-269
market rents for leased rural property, 232-245
fair market value as basis for just compensation in
Market value eminent domain actions, 262-265
“as if” stabilized market value, 95
state initiatives to provide just compensation for land use
cost approach as measure of present value, 70-79 regulations affecting property, 169-178
determining market value of special-use property, tort theory as basis for just compensation in eminent
262-269 domain actions, 268
economic theories on price, cost, and value underlying Proximity
market value, 70-80 effect of cemetery proximity on sale prices of house,
market value and energy-efficient homes, 199-201 33-49
market value and fair value compared, 152-155 effect of proximity to lakeshore village on sale prices of
lots, 159-167
market value and low-income housing tax credits,
354-356 measuring the effect of proximity to a contamination
source, 145-146
market value in federal tax returns, 360-368
market value in environmental contamination Regression
assignments, 146-149 comparison of Zillow value estimates to market values,
30-31
market value in Russian appraisal practice 182-191
regression analysis as a causal analysis model. 71, 77
market value of rural land, 237-241
multiple regression analysis to measure potential impact
market value through income capitalization approach as of environmental contamination, 145-148
a measurement of future value, 76-79
multiple regression analysis to measure value impact on
mortgages and declining market value of homes, 18-25 houses in proximity to cemeteries, 272-280
sales comparison approach as measuring market value regression analysis to measure price effects of cemetery
based on past market action, 70-79 proximity, 34-49
Zillow estimates of market value, 26-32 using multiple regression modeling to measure impact of
location on residential property value, 272-280
Matched pairs
matched pair measurement of house prices, 104-107 Residential
guide for review of appraisal reports, 244-259
comparison of U.S. and European housing markets, separating residential property from commercial property
225-226 in class action suits, 142
data on mortgage transactions, 105-107 trends in residential appraisal practice, 228-231
Fannie Mae and Freddie Mac lender requirements for Residential
residential mortgages in the Home Valuation Code of comparison of U.S. and European housing markets,
Conduct, 84-92 225-226
mortgage underwriting and low-income tax credit Home Valuation Code of Conduct and the appraisal and
program housing, 357 banking industries, 81-94
risks of no-downpayment, long-term mortgages, 17-25 residential mortgage fraud, 81-94
residential mortgage fraud, 81-83 risks of no-downpayment, long-term mortgages, 17-25
National Council of Real Estate Investment Fiduciaries Residential
(NCREIF) comparison of U.S. and European housing markets,
NCREIF Valuation Committee meeting notes, 296-297 225-226
Obsolescence effects of cemetery proximity on single-family house
checking for obsolescence in appraisal reports during an price, 33-49
appraisal review, 246
housing markets in Europe, 219-227
impact of obsolescence on risk in residential mortgages,
impact of proximity to amenities on residential property
18-24
values, 270-282
obsolescence in valuing special-use property in eminent
impact of a view on the value of residential lots, 333-349
domain, 263, 266
residential lots with premium views 159-168
residential property valuation in Russia, 184, 192 South Africa
impact of a view on value of residential lots in Tshwane,
valuing high-performance houses 195-201
South Africa, 333-349
Zillow estimates of single-family housing values, 26-32
Special-use properties
Reversion contract theory as basis for recovery in eminent domain
reversion capitalization rate for office properties in actions involving special-use properties, 267-268
Korpacz Real Estate Investor Surveys, 252-254, 257-260
determining compensation for special-use properties in
reversion in measuring nonmarket occupancy, 97, eminent domain, 262-269
100-101
special-use property defined, 265
Risk tort theory as basis for recovery in eminent domain
office property risk and return 253, 261 actions involving special-use properties, 268
risk effects in environmental contamination, 144-148
Stigma effects
risk in European housing market, 219-227 environmental stigma defined, 146
risk in no-down-payment, long-term mortgages, 17-25 risk effects of stigma from environmental contamination,
risk in nonmarket occupancy, 94-103 144, 147-148
risks noted in appraisal reports, 245, 248 Summation
cost theory and summation, 71
Rural land
valuing rural leasehold and licensed land, 232-243 Surveys
American Housing Survey, 27
Russia
evolution of professional valuation in Russia, 179-194 farm survey data, 238-239
home price survey data, 104-107
Sale price
economic theories related to price, 70-80 survey of builders on energy-efficient features in homes,
200-201
effect of cemetery proximity on sale prices of houses,
33-49 trends in investor forecasting in Korpacz Real Estate
Investor Survey, 251-261
effect of views on property sale prices, 159-168, 240-241
water data from U.S. Geological Survey, 67
home price survey data, 104-107
impact of view from higher elevation on sale price of Takings
residential lots, 335-349 determining compensation for government taking of
property, 169-178, 262-269
measuring the price effect of proximity to a contamination
source, 145-146 expert witness qualifications in involuntary taking
assignments, 283-291
price trends in water sales and leases, 50-69
Taxes
sale prices of residential lots with premium views
creating tax rolls for urban property, 270-280
159-168
market value in federal tax returns, 360-368
Sales comparison
examination of sales comparison in appraisal review, standards of care for tax preparers, 364-367
247-235 tax credits under the Low-Income Housing Tax Credit
leased fee estate and sales comparison approach, 95 program, 350-359
sales comparison approach as measuring market value using computer-assisted valuation techniques to create
based on past market action, 70-79 tax rolls in developing countries, 270-280
sales comparison approach in environmental valuing Low-Income Housing Tax Credit program
contamination cases, 142-144 property for tax assessment purposes, 357
sales comparison approach in valuing high-performance Uniform Standards of Professional Appraisal Practice
houses, 198-201 (USPAP)
expert witness qualification and USPAP compliance,
sales comparison approach in valuing low-income tax 286-287, 289
credit program housing, 356
federal regulations requiring compliance with USPAP, 83
sales comparison approach in valuing special-purpose
properties, 263-265 framework for analysis of value impacts of environmental
contamination under Advisory Opinion 9, 144-146
Scholarships
announcement of winners of Appraisal Institute Internal Revenue Code disclosure provision consistent
with USPAP Competency Rule, 366
Education Trust scholarships, 385-384
interrelationship of USPAP standards and accounting
Single-family property standards, 153, 156-157
effects of cemetery proximity on single-family house
price, 33-49 SPAP and appraisal of energy-efficient houses, 197, 199
residential property valuation in Russia, 184, 192 /SPAP provisions related to appraisal report review, 245,
247, 249
valuing high performance houses 195-201
SPAP Standards Rule 6-2(e) requirements when valuing
Zillow estimates of single-family housing values, 26-32 a group of properties, 147
Unimpaired value Views
unimpaired value measurement in environmental effect of cemetery view on sale prices of houses, 33-47
contamination situations, 144-147
effect of water, mountain, and golf course views on sale
Urban land prices of lots, 159-168, 240-241
creating tax rolls for urban property, 270-280 impact of a view from higher elevations on value of
impact of view at higher elevations on value of lots in residential lots, 333-349
Tshwane, South Africa, 333-349
Water
value of urban land related io proximity to amenities, effect of water views on property sale prices, 159-168,
270-272 240-241
Value in use trends in water sales and leases, 50-69
value in use as measure of just compensation in special-
Weighted average cost of capital (WACC)
use eminent domain cases, 262-266
WACC used in evaluating risk and reasonableness of
Verification nonmarket occupancy, 97-102
third-party verification of green building and performance
Zillow
measures, 195, 200
Zillow’s estimates (Zestimates) of single-family housing
verification of Zillow descriptive statistics unavailable, 30 values, 26-32
Titles
Market Value over Time Integrating Geographic Information and Valuation Modeling
Mike Wolff, 159-168 for Reai Estate
Mark R. Linné, MAI, SRA, and John Cirincione, SRA,
Appraising Low-income Housing Tax Credit Real Estate 370-379
Kenneth N. Alford, MAIL, and David C. Wellsandt,
350-359 The Million Dollar View: A Study of Golf Course, Mountain,
and Lake Lots
Cemetery Proximity and Single-Family House Price David Wyman and Steve Sperry, 159-168
James E. Larsen, PhD, and Joseph W. Coleman, PhD,
33-49 Narrowing Margins
Morton Bodfish, 17-25
Computer-AsAnsaliyssist oefd t he Impofa Loccatiton on
Residential Property Value: A Case Study of Nairobi, Kenya Office Property DCF Assumptions: Lessons from Two
G. C. Mulaku and J. Kamau, 270-282 Decades of Investor Surveys
Barrett A. Slade, PhD, MAI, and C. F. Sirmans, PhD,
Daubert and Qualification of the Expert Witness 251-261
Richard W. Hoyt, PhD, Robert J. Aalberts, JD, and Percy
Poon, PhD, 283-291 On Price, Cost, and Value
Unsal Ozdilek, PhD, 70-80
the Appraisal Review Opinion
Richard C. Sorenson, MAI, 244-250 Professional Valuation in Russia: Its Past, Present, and
Future
Do You Have a Pian or Will You Go Where Life Takes You? A. lL. Artemenkov and I. L. Artemenkov, 179-194
Mark R. Rattermann, MAI, SRA, 228-231
Real Estate Appraisers and the Revised Tax Preparer
The Home Valuation Code of Conduct and Its Potential Penalty Statute: Evolution, Rules, and Reality
Impacts Raymond Placid, JD, CPA, H. Wayne Cecil, PhD, CPA,
Avery M. Abernethy, PhD, and Harris Hollans, PhD, and H. Shelton Weeks, PhD, 360-369
MAI, 81-93
Real Property Valuation Issues in Environmental Class
Market in Europe Actions
Michael Ball, 219-227 Thomas O. Jackson, PhD, MAI, 141-149
The impact of a View on the Value of Vacant ResidentiLaolt s Reflecting on the Future
R. M. Potgieter and C. E. Cloete, 333-349 James R. DeLisle, PhD, 6-16
Incorporating Highest and Best Use into Accounting A Return to Fundamentals
Standards Expands Opportunities for Appraisers James R. DeLisle, PhD, 316-324
Richard Johnson, PhD, CPA, K. Edward Atwood, PhD,
CPA, and Larry Walther, PhD, CPA, 150-158 Risk and Reasonableness for Nonmarket Occupancy—A
Second Look During a Recession
Richard L. Parli, MAI, and Jeffrey D. Fisher, PhD,
94-103
Square Pegs, Round Holes, Easy Targets: Valuing Special- Valuing a High Performance House
Use Property in Eminent Domain Sandra K. Adomatis, SRA, 195-201
John C. Murphy, JD, and Emily L. Madueno, JD,
262-269 Water Market Trends: Transactions, Quantities, and Prices
Elizabeth Basta and Bonnie G. Colby, PhD, 50-69
Time for More Reflection, Too Soon for an Inflection
James R. DeLisle, PhD, 129-140 When Data Collide
James P. Gaines, PhD, 104-107
An Update on Property Rights Compensation Law for
Appraisers Zillow’s Estimates of Single-Family Housing Values
Marcus T. Allen, PhD, and Charles C. Carter, PhD, Daniel R. Hollas, PhD, Ronald C. Rutherford, PhD, and
169-178 Thomas A. Thomson, PhD, 26-32
Valuations of Rural Leasehold and Licensed Land in Victoria,
Australia
Simon A. de Garis, 232-243
Authors
Aalberts, Robert J., 283-291 Johnson, |. Richard, 150-158
Abernethy, Avery M., 81-93 Kamau, J., 270-282
Adomatis, Sandra K., 195-201 Kendall, Del H., 296-297
Alford, Kenneth N., 350-359 Larsen, James E., 33-49
Allen, Marcus T., 169-178 LeGrand, Lauren E., 1-5, 125-128
Artemenkoy, A. I., 179-194 Linné, Mark R., 202-204, 370-379
Artemenkoy, I. L., 179-194 Madueno, Emily L., 262-269
Atwood, K. Edward, 150-158 Mulaku, G. C., 270-282
Ball, Michael 219-227 Murphy, John C., 262-269
Basta, Elizabeth, 50-69 Ozdilek, Unsal, 70-80
Bodfish, Morton, 17-25 Parli, Richard L., 94-103
Carter, Charles C., 169-178 Placid, Raymond, 360-369
Cecil, H. Wayne, 360-369 Poon, Percy, 283-291
Cloete, C. E., 333-349 Potgieter, R. M., 333-349
Colby, Bonnie G., 50-69 Rattermann, Mark, 228-231
Coleman, Joseph W., 33-49 Rutherford, Ronald C., 26-32
Cirincione, John, 370-379 Sirmans, C. F., 251-261
Dannis, Charles G., 292-295 Slade, Barrett A., 251-261
de Garis, Simon A., 232-243 Sorenson, Richard C., 244-250
DeLisle, James R., 6-16, 129-140, 316-324 Sperry, Stephen, 159-168
Fisher, Jeffrey D., 94-103 Thomson, Thomas A., 26-32
Gaines, James P., 104-107 Walther, Larry, 150-158
Goodheim, Brian L., 380-382 Weeks, H. Shelton, 360-369
Hollans, Harris, 81-93 Weinberger, Alan M., 1-5, 125-128, 213-218, 307-315
Hollas, Daniel R., 26-32 Wellsandt, David C., 350-359
Hoyt, Richard W., 283-291 Wolff, Mike, 325-332
Jackson, Thomas O., 141-149 Wyman, David, 159-168
Cases in Brief
Appraisal value may account for possible as well as Market rent and actual rent are required when
probable changes in value, 1 determining fair market value using the income
capitalization approach, 217-218
Assessment of low-income housing must consider rent
restrictions on the property, 126 Mobile home is permanently attached to land and taxable
real estate even if it may move elsewhere in the future,
Benefit of easement to clear brush is to preserve view
127-128
from owner’s land, 4-5
Mortgage signed by only one spouse is valid when other
Coach house building is owner occupied when
spouse waived homestead rights, 125
appurtenant to landlord’s residence, 2
Owner of property that increased in value at termination
Court’s authority to discharge condemned easement for
of lis pendens may be entitled to consequential damages,
improper use does not extend to portions of easements,
307-308
126
Property owners not responsible for damage to adjacent
Determination of market value does not have to be based
property caused by withdrawal of lateral support by
on the property’s highest and best use in every instance,
previous owner, 310-311
215
Purchaser with knowledge of property’s condition cannot
Determination of nearest feasible access route should
claim inverse condemnations, 312
consider impact on neighboring properties and cost of
acquisition, 215 Restricted use appraisal is not sufficient to overcome
presumption of validity of an assessor’s determination of
Evidence of advantageous potential future use relevant
value, 217
to determining the present market value of condemned
property, 215-216 Tax reassessments based on market value must be district-
wide, 126-127
Foreclosure sale not disturbed if record shows evidence
property sold for fair market value, 311-312 Taxpayer not required to prove manifest error in how
taxing authority arrived at assessed value of real
Highest bid at foreclosure auction was best indicator of
property, 315-314
market value, 4
Tenant who farms land under a lease has property interest;
Judge abused discretion in a foreclosure case by granting a
sharecropper does not, 127
continuance purely out of goodwill, 1-2
niqueness of property relevant in determining the
Land comprising a vacated right-of-way should be
issuance of a zoning variance, 309
restored to the landowner whose predecessors in title
had owned the property, 216-217 nless readily apparent on the face of a variance, a
significant condition such as restricting property size is
Landowner not entitled to tax abatement to adjust for the
not inherent, 314-315
mistakenly low assessments of comparable parcels, 125
se of agricultural land for an owner’s residence does not
Lease with unlimited renewal enforceable against
constitute a change of use, 213-214
succeeding landlords, 3
Zoning classification and legal nonconforming use should
Lender cannot obtain equitable mortgage against nonparty
to loan agreement, 5 be considered when determining unconstitutional taking,
214-215
Location of easement cannot be changed by landowner or
Zoning variance is illegal when granted to alleviate
easement holder without consent, 309-310
hardship common in the area, 2-3
Loss of view properly considered in determining
incidental damages in partial takings case, 398
Columns and Departments
Announcement of Scholarship Awards Book Reviews
Appraisal Institute Education Trust Announcement of Mark R. Linné, MAI, SRA, 202-204
Scholarship Awards, 383-384
Vass Appraisal Methods: An International Perspective
Award Announcements Jor Property Valuers
Announcement of AIET Armstrong/Kahn Award, iv Edited by Tom Kauko and Maurizio d’Amato
(Spring) Brian L. Goodheim, MAI, SRA, 380-382
Announcement of AIET Swango Award, v (Spring) Short Sale Rush
Announcement of AIET Academic Article Award, vi-vii by Marian Anthony
(Spring)
Announcement of Appraisal Journal Outstanding Service
Award, iii (Spring)
Directory of 2009 New Designees Comments on “Narrowing Margins” (Winter 2010), 205
Appraisal Institute Members Earning Their Designations
during 2009, 79-82 Comments on “When Data Collide” (Winter 2010), 298
Comments on “You Can’t Get the Value Right If You Get
Environment & the Appraiser
the Rights Wrong” (Winter 2009), 112-114
Real Property Valuation Issues in Environmental
Class Actions Notes & Issues
Thomas O. Jackson, PhD, MAI, 112-116 News from NCREIF: Valuation Committee Meeting Notes
Del H. Kendall, MAI, 296—297
Financial Views
Reflecting on the Future Noteworthy Valuation-Related Papers from the American
James R. DeLisle, PhD, 6-16 Real Estate Society Annual Meeting
Charles G. Dannis, MAI, SRA, 292-295
Time for More Reflection, Too Soon for an Inflection
James R. DeLisle, PhD, 129-140 Valuing High Performance Houses
Sandra K. Adomatis, SRA, 195-201
A Return to Fundamentals
James R. DeLisle, PhD, 316-324 Residential Appraising
Adjusting Value over Time
International Appraising
Mike Wolff, 325-332
Housing Market Developments in Europe
Michael Ball, 219-227 Do You Have a Plan or Will You Go Where Life Takes You?
Mark R. Rattermann, MAI, SRA, 228-231
Letters to the Editor
Comments on “Deriving Capitalization Rates and Other Narrowing Margins
Valuation Metrics from the REIT Market” (Fall 2009), Morton Bodfish, 17-25
108-109 Rural Appraising
Comments on “High-Voltage Transmission Lines: Valuations of Rural Leasehold and Licensed Land in
Proximity, Visibility, and Encumbrance Effects” Victoria, Australia
(Summer 2009), 109-112 Simon A. de Garis, 232-243
Comments on “The Impact of Historic Facade Easements
on Condominium Value” (Fall 2009), 205