Preface | p. vii |
Introduction | p. ix |
Real Estate and Its Appraisal | p. 1 |
What Is a Real Estate Appraisal? | p. 2 |
Land versus Site | p. 7 |
Real Estate and Real Property | p. 9 |
Public Restrictions on Land Use | p. 9 |
Private Restrictions on Land Use | p. 10 |
Personal Property | p. 11 |
The Real Estate Marketplace | p. 15 |
Recent History | p. 15 |
The Subprime Mortgage Crisis | p. 16 |
Market Value | p. 18 |
Value Principles | p. 20 |
The Appraisal Process | p. 29 |
Sales Comparison Approach | p. 29 |
Cost Approach | p. 31 |
Income Capitalization Approach | p. 32 |
Relationship of Approaches | p. 35 |
Steps in the Appraisal Process | p. 36 |
Summary | p. 38 |
Data Collection and the Data Bank | p. 41 |
The Appraisal Process | p. 41 |
The Data Bank | p. 42 |
Data Forms | p. 49 |
The Neighborhood and the Home | p. 61 |
Residential Construction and Home Inspection | p. 69 |
Site | p. 69 |
Building Codes | p. 71 |
Plans and Specifications | p. 71 |
Architectural Styles | p. 71 |
House Types | p. 72 |
Interior Design | p. 75 |
Foundation | p. 79 |
Framing | p. 83 |
Exterior Trim | p. 83 |
Roof Coverings | p. 83 |
Exterior Siding | p. 86 |
Insulation | p. 89 |
Exterior Windows and Doors | p. 90 |
Interior Walls and Finishing | p. 95 |
Plumbing | p. 95 |
Heating and Air-Conditioning | p. 96 |
Electrical System | p. 99 |
The Sales Comparison Approach | p. 103 |
Basics of the Sales Comparison Approach | p. 103 |
Appraisal Process | p. 104 |
Applying the Sales Comparison Approach | p. 104 |
Site Valuation | p. 127 |
Separate Site Valuations | p. 128 |
Site Data | p. 129 |
Methods of Site Valuation | p. 134 |
The Cost Approach | p. 143 |
The Theory Behind the Cost Approach | p. 143 |
Applying the Cost Approach Formula | p. 145 |
Reproduction Cost versus Replacement Cost | p. 145 |
Finding the Reproduction Cost | p. 147 |
Accrued Depreciation | p. 151 |
Itemizing Accrued Depreciation | p. 156 |
Cost Approach Using the URAR Form | p. 158 |
Usefulness of the Cost Approach | p. 158 |
The Income Capitalization Approach | p. 163 |
Determining Income | p. 164 |
Selecting the Capitalization Rate | p. 169 |
Selecting the Capitalization Technique | p. 170 |
Gross Income Multiplier | p. 172 |
Reconciliation and the Appraisal Report | p. 177 |
Reconciliation | p. 177 |
Types of Appraisal Reports | p. 181 |
Final Comment | p. 182 |
Calculating Area | p. 189 |
Glossary | p. 199 |
Index | p. 219 |
Table of Contents provided by Ingram. All Rights Reserved. |
The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.
The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.