The Compact Real Estate Appraiser is a thumbnail reference for the real estate researcher, analyst or appraiser. It¿s a style guide for better report writing, a shortcut to analytical procedures commonly used in real estate valuation, a set of immutable laws and a roundup of common elements of value. It also features chapters on etiquette and leadership, eminent domain and percipient witness testimony.
Don't get caught legally unaware-- This book is a must read for real estate appraisers, brokers and attorneys. It explains in a clear way the sometimes difficult but important areas of the law that impact the real estate and legal professions. Some of the main areas covered are how to become an outstanding expert witness, malpractice, ethics, standards of proof, stare decisis, attorney ploys on cross examination, how to become an excellent expert witness, how to bullet proof an appraisal, negligence, common mistakes appraisers make, how to compare two appraisals on the same property. The book is laced with illustrative examples and citations to the court reports. There is also a five page key word index for easy reference. It is organized so that concepts, principles, guidelines, techniques and recommendations presented will have an immediate, medium and long term positive impact on the appraiser who wants to improve the quality of an appraisal or an attorney who wants to gain better insight into appraisal and legal concepts or someone from any profession who wants to learn to become an outstanding expert witness.
This monograph critically reviews and updates real estate valuation theory, which is based on neoclassical economics, in light of developments in heterodox economic theory. Building on a comprehensive historical account of the evolution of value theory, the book uses new institutional economics theory and critical realism as lenses through which problems in standard valuation theory and practice are expatiated, and as the foundation for an alternative theory. The new theory is employed to explain major problems in real estate valuation that are beyond the capability of the standard theory, such as price bubbles in real estate markets, anchoring bias, client influence and valuation under uncertain market conditions.
Is real property appraisal evolving, or have all of the "big ideas" already been conceived? This question has been circulating among the leaders of the Appraisal Institute during the past several annual meetings, usually encountering little in the way of satisfying answers. This is not too surprising, because grand ideas and new knowledge do not typically evolve from off-hand conversation. They are the product of focused intellectual activity and hours of difficult work. This unquenched thirst for new knowledge is the primary reason for assembling this collection of new manuscripts dealing with valuation theory, which was financially underwritten by the Appraisal Institute. Their generosity and willingness to partner with the American Real Estate Society made this collection of thoughtful and thought provoking essays possible. They are the result of a global response to a worldwide call for papers, and demonstrate that real estate valuation is indeed an international discipline. The United States, Australia and New Zealand, Southeast Asia, the Pacific Rim, and Europe are all represented by this impressive collection of authors. Together, the eighteen essays that make up this volume demonstrate that there are a sufficient number of "big ideas" to challenge and improve the appraisal profession for years to come. Real Estate Valuation Theory is organized around five categories of intellectual contribution to the whole-appraiser decision making and valuation accuracy, application of nontraditional appraisal techniques such as regression and the minimum-variance grid method, appraising contaminated property, ad valorem tax assessment, and new perspectives on traditional appraisal methods. One common thread is that all of the papers are exceptionally well written and thought provoking.
