If you are looking for new content on market analysis, highest and best use, identifying property rights and allocating value, the Appraisal Institute has just the book for you. AI’s newest book, “The Appraisal of Real Estate,” 15th edition, discusses those topics, plus more.
“The Appraisal of Real Estate,” 15th edition, is a book that fits current times. It reflects a renewed commitment to the essential principles of appraisal 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:
- Chapter 15-Market Analysis;
- Chapter 16- Applications of Market Analysis;
- Chapter 17- Highest and Best Use Analysis; and
- Chapter 18- The Application of Highest and Best Use Analysis.
“The Appraisal of Real Estate,” 15th edition, strives to connect the relationship between market analysis and highest and best use is made explicit and described in a step-by-step analytic procedure. Another major development in this new edition is the emphasis on the necessity of definitively describing the property rights to be appraised in an appraisal assignment to ensure that all the necessary steps are taken to produce a credible value conclusion.
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.
Overall, “The Appraisal of Real Estate” is split into the following 10 sections:
- Part I-Real Estate and Its Appraisal;
- Part II- Identification of the Problem;
- Part III- Scope of Work Determination;
- Part IV- Data Collection and Property Description;
- Part V- Data Analysis;
- Part VI- Land Value Opinion;
- Part VII- Application of the Approaches to Value;
- Part VIII- Reconciliation of the Value Indications and Final Opinion of Value;
- Part IX- Report of Defined Value; and
- Part X- Appraisal Practice Specialties.
“The Appraisal of Real Estate,” 15th edition, (ISBN: 9781935328780) is a 705-page hardcover book; a PDF is also available. They are available for $140 ($110 for Appraisal Institute professionals) each, or $196 ($154 for Appraisal Institute professionals) if purchased together. Call 888-756-4624 or order online.