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New Appraisal Institute Textbook Responds to Changing Role of Valuation Professionals

September 16, 2013 08:00 AM

CHICAGO (Sept. 17, 2013) – "The Appraisal of Real Estate, 14th Edition," published this week by the Appraisal Institute, reflects a new commitment to the essential principles of appraisal and the sound application of recognized valuation methods. The textbook long has been recognized as the valuation profession’s most comprehensive source of information for appraisers and other real estate professionals.

"The Appraisal of Real Estate, 14th Edition," has been restructured to mirror the organization of the valuation process, moving from the identification of problems to the report of defined value. Published by the nation’s largest professional association of real estate appraisers, the publication features several updates from previous editions, including:

  • More discussion of scope of work, client communication and data standards;
  • Increased emphasis on the fundamentals of statistical analysis and the central role that descriptive statistics plays in market analysis, highest and best use analysis and the application of the three approaches to value;
  • Expanded coverage of topics introduced in the 13th edition such as green building, advances in information technology and the use of automated valuation models;
  • A clearer, more rigorous exploration of the market analysis process and a more concise discussion of highest and best use analysis;
  • More background on the continuing evolution of U.S. and international appraisal standards; and
  • New thinking on appraisal review, consulting, valuation for financial reporting and the valuation of non-realty assets.

Learn more about “The Appraisal of Real Estate, 14th Edition” [VIDEO].

“Today, while real estate markets — and real estate professionals — work themselves out of the economic downturn of the previous five years, both appraisers and users of their services can be assured that this volume builds on time-tested foundational knowledge and contains the most up-to-date information and learning on valuation available anywhere,” Appraisal Institute President Richard L. Borges II, MAI, SRA, wrote in the book’s foreword.

Previous editions of “The Appraisal of Real Estate” have been translated into 10 languages and have been taught in courses at eight colleges and universities. The first edition was published in 1951.

“The Appraisal of Real Estate, 14th Edition” (ISBN: 978-1-935328-38-4) is an 847-page hardcover book; a PDF is also available. They are available for $125 ($95 for Appraisal Institute professionals) each, or $185 ($140 for Appraisal Institute professionals) if purchased together. 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 23,000 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 and SRA designations. Learn more at




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