Appraisal Institute Book Offers Guidance for Valuing ‘Damaged’ Properties
July 5, 2016 08:00 AM
CHICAGO (July 5, 2016) – Real estate appraisers who analyze detrimental conditions should properly select and apply available tools, use relevant market data to support opinions and conclusions, and avoid unproven or suspect methodologies, according to a new book by the Appraisal Institute.
“Real Estate Damages,” third edition, by Randall Bell, Ph.D., MAI, includes new discussions on controversial topics including cellular towers, strip mining, fracking and climate change. New case studies have been added as well, including an in-depth look at the Flight 93 crash site and other memorial sites.
This book also provides updated and expanded listings of print and online resources and relevant agencies and associations. This third edition further offers a foundation for valuing properties subject to 10 different types of detrimental conditions, and sheds light on current factors affecting property such as climate change, terrorism, and oil and gas exploration.
“The events that make news often involve death and destruction, including natural disasters, crime and environmental contamination. Many of these catastrophic events are life-changing for the people involved and, as a practical consideration, they impact property values,” Appraisal Institute President Scott Robinson, MAI, SRA, AI-GRS, wrote in the book’s foreword.
“Real Estate Damages” describes and demonstrates a variety of tools appraisers can use to delineate market boundaries, gather relevant data, analyze the short- and long-term effects of detrimental conditions, and generate opinions of value that are well-reasoned, supportable and defensible in court.
“Real Estate Damages,” third edition (ISBN: 9781935328667) is a505-page hardcover book. It is available for $65 ($55 for Appraisal Institute professionals). Call 888-756-4624 or order online.
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The Appraisal Institute is a global professional association of real estate appraisers, with nearly 20,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Learn more at www.appraisalinstitute.org.