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Mastering real estate appraisal has never been easier. This ever-popular resource, based on the authors' combined wealth of both professional and academic experience, continues to provide a thorough outline of the most up-to-date appraisal theory and practice for students, real estate professionals and consumers. Both simple and complex subjects are covered in terms that are easy to understand and accurate. This book references and explains the Uniform Standards of Professional Appraisal Practice, introducing all of the appraisal related topics listed in educational requirements for universal state licensing and certification. Master real estate appraisal like a professional.
I. Meeting the Authors II. Preface III. Acknowledgments 1. Real Estate Appraisal and You 2. Legal Considerations in Appraisal 3. The Formal Appraisal Process 4. Focus on Neighborhood, Community, and Market 5. Real Estate Economics and Value 6. Property Inspection and Analysis: The Site 7. Property Inspection and Analysis: The Improvements 8. The Sales Comparison Approach 9. Analyzing and Adjusting Comparable Sales 10. Valuing the Site 11. Introducing the Cost Approach 12. Estimating Loss in Value: Accrued Depreciation 13. The Income Approach 14. Income Capitalization: Rates and Techniques 15. Reconciling the Value Estimates 16. Reporting Appraisal Opinions 17. Appraising Special Ownerships and Interests 18. The Professional Appraiser IV. Answers to Reviewing Your Understanding V. Glossary VII. Index