Articles

Business Value Allocation in Lodging Valuation, The Appraisal Journal, July 2001. Bell, Randall. The Impact of Airport Noise on Residential Real Estate, The Appraisal Journal, July 2001. Berg, Peggy and Mark Skinner. A New Pricing Index for the Corporate Apartment Industry, The Real Estate Finance Journal, Winter 2002. Brecht, Susan B. Let the Buyer Beware, Assisted Living Today, Winter 1996. Burrough, D.J. Golf Deals, Urban Land, August 2000. Caldwell, Douglas A. Anticipated...

Case Study The Villages Florida Continued

Course has made getting a tee time quite difficult, so additional courses are developed periodically, each one farther away than the last. It appears to the visitor that the majority of local residents use gas-powered golf carts rather than automobiles, to travel to and from the attractive central shopping area. A visitor to The Villages notices at once the confusing array of apparently endless gated communities, acting as satellites around various golf courses. Because the courses cross...

The Essence of Analysis

The Appraisal of Real Estate, 10th ed. Chicago, IL Appraisal Institute, 1992. 2. Schmitz, Adrienne et al. Real Estate Market Analysis. Washington, DC Urban Land Institute, 2001. 3. Owens, Robert W. Subdivision Development Bridging Theory and Practice, The Appraisal Journal, July 1998. 4. Lefenfeld, Bob. Market Analysis Basics, Elements of a Good Study, What to Expect from a Multifamily Market or Feasibility Study, Mul-tifamily Trends, Summer 2001. 5. Miles, Mike, et al. The...

Fixer Upper Properties

An interesting variation on single-family property investing is the purchase of run-down properties. The idea is to use sweat equity the work performed in completing repairs to bring the property's value up to market rates. This concept works when the cost of repairs is less than the appreciation in market value. Thus, cosmetic repairs including painting and landscaping, for example are easily completed at minimal cost but with the greatest potential for creating increased value. The problem...

The Fourth Step In Market Analysis Existing Supply Factors

The concept of supply is as complex as that of demand in areas where legislation has been drafted in an attempt to control or even to prevent growth from occurring. In an economic sense, supply is well understood. It is in reference to the available properties designated for a specific use. When economic supply is high, prices will soften because demand lags behind. When supply is short and demand is greater, prices are driven up. This basic economic concept is not complex, at least when viewed...

Mixed Use Real Estate Analysis

Growth Management and Affordable Housing, American Planning Association, April 25, 2004 at http www.planning.org 2. Staley, Samuel Ph.D. Homeowners are Paying Thousands More for Houses Because of Growth Management Acts, December 18, 2001, Reason Public Policy Institute, at www.rppi.org. S. Proust, Marcel. Remembrance of Things Past, 1913-1926. 4. Schmitz, Adrienne et al. Real Estate Market Analysis. Washington, DC Urban Land Institute, 2001. 7. National Low Income Housing Coalition....

Case Study Pier 1 San Francisco Ca

The original value of San Francisco's waterfront was tied to the Gold Rush in the 1850s. The harbor area, known as The Embarcadero, included an early version of an intermodal facility. A rail line on the street facilitated movement of goods to and from ships. However, the importance of this activity declined by the middle of the twentieth century, so that the entire harbor area on San Francisco Bay fell out of favor. Among the reasons was the emergence of the East Bay cargo sites in Oakland and...

Case Study Celebration Fl

If breaking residential sales records is a test of a project's success, Celebration, Florida, would probably win. Annual sales above 120 million for three years running demonstrates the popularity and success of this mixed-use complex. It is home to more than 8,000 residents in 2,300 homes and 1,200 apartments. The complex also has a 1.8 million-square-foot commercial building and a 110-acre Class A commercial district office and office complex sites and a hotel conference center. Commercial...

Case Study The Solaire New York Continued

This in mind, the complex is 90 percent occupied as of the end of 2004. Original projected rents were higher than the current levels between 2,200 and 6,700 per month. High occupancy was aided by grants provided by the Lower Manhattan Development Corporation, reducing rents by up to 12,000 (payable in increments of 500 per month) as incentive to sign leases by May 31, 2003. In spite of predictions concerning lowered market rents and high vacancies in lower Manhattan following the 2001 attacks,...

Professional and Industry Associations

American Bankers Association at http www.aba.com industry association and advocacy group for banking institutions, including community, regional, and money center banks and holding companies, savings associations, trust companies and savings banks. American Builders Network at http www.americanbuilders.com useful service matching builders with clients by state. American Hotel Motel Association at http www.ahma.com national association in the lodging industry, whose members consist primarily of...

Principles Of Real Estate Valuation

We begin with a summary of the major principles that govern valuation. There are 10 primary concepts in this group 1. Progression. This principle relates to one way in which market values rise. Expressed as a statement, progression tells us, A property's value may increase due to the existence of similar properties in similar locations, containing greater quality. The idea that a rising tide lifts all ships applies here. In fact, progression is also expressed by the maxim that you profit in...

Contents

Preface A Practical Approach vii Single-Family Home and Condo Analysis 73 Multi-Unit Rental Property Analysis 99 Retail Real Estate Analysis 119 Office and Industrial Real Estate Analysis 145 Lodging and Tourism Industry Real Estate 161 Mixed-Use Real Estate Analysis 177 Internet Sources for Further Study 195 Using a GIS Tool in Real Estate Market Analysis 225 Every investor begins with this question. The question of value is at the core of the decision. It is the essence of the decision to buy...

Case Study The Villages Florida

This central Florida development takes up 5.2 square miles. While the latest reported population was 11,828 2000 Census , approximately 45,000 people live in the immediate area in owner-occupied or rented housing and multi-unit retirement and senior accommodations. This development combines gated communities with recreational facilities, notably a series of golf courses. However, with additional development near the villages, traffic congestion and travel distance to the courses are becoming a...

Case Study East Lake Commons Decatur Ga

Some developments are designed to appeal to specific, narrowly focused demographic markets. East Lake Commons is a high-density development of 67 townhouses near downtown Atlanta. It is a co-housing project. Co-housing means just that a sharing of responsibilities among residents. The market for this project included a diverse mixture of single people, retirees, families, and gay lesbian couples. Residents work cooperatively through committees to manage affairs such as kitchen scheduling,...

Office and Industrial Real Estate Analysis

Analysis of nonretail commercial space relies on certain attributes found in retail, but is not similar in every way. Industrial parks, for example, cannot be analyzed on the same underlying assumptions as a retail shopping center, because many of the determinant factors are entirely dissimilar. This chapter demonstrates those factors to be considered in office and industrial analysis, including economic trends, zoning, and a trend toward merging of office and light industrial zones. Industrial...