Cover image for The valuation of apartment properties
Title:
The valuation of apartment properties
Author:
Mills, Arlen C.
Personal Author:
Publication Information:
Chicago : Appraisal Institute, [1999]

©1999
Physical Description:
vii, 120 pages : illustrations ; 26 cm
Language:
English
Added Author:
ISBN:
9780922154548
Format :
Book

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Library
Call Number
Material Type
Home Location
Status
Central Library HD1387 .M553 1999 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

Advice for professional appraisers on the vagaries of appraising apartment complexes in a volatile real estate market. Three separate approaches are covered: income capitalization, sales comparison, and cost. Additional chapters look at market analysis; site and property analysis; and reconciling, reviewing, and reporting techniques. Annotation copyrighted by Book News, Inc., Portland, OR


Table of Contents

Forewordp. vii
Chapter 1 Introductionp. 1
Definitionsp. 1
Systems of Classificationp. 2
Scopep. 6
Chapter 2 Market Analysisp. 9
Purpose and Level of Market Analysisp. 9
Six-Step Processp. 10
Trends and Prospectsp. 12
Applicationp. 13
Chapter 3 Site and Property Analysisp. 23
Objectives of Site and Property Inspectionp. 23
Site Analysisp. 24
Property Analysisp. 30
Special Considerationsp. 35
Chapter 4 Income Capitalization Approachp. 39
Introductionp. 39
Estimating and Analyzing Incomep. 41
Analyzing Expensesp. 45
Direct Capitalizationp. 47
Discounted Cash Flow Analysisp. 51
DCF Applicationp. 52
Chapter 5 Sales Comparison Approachp. 57
Introductionp. 57
Overview of the Procedurep. 58
Data Selectionp. 58
Data Sourcesp. 60
Elements of Comparisonp. 62
Organizing the Datap. 66
Units of Comparisonp. 67
The Adjustment Processp. 70
Applicationp. 71
Chapter 6 Cost Approachp. 77
Introductionp. 77
Overview of the Procedurep. 79
Site Valuationp. 80
Development Cost Estimatesp. 85
Estimating Depreciationp. 90
Applicationp. 97
Chapter 7 Reconciling, Reporting, and Reviewingp. 99
Reconcilingp. 99
Reportingp. 105
Reviewingp. 112
Summary and Conclusionp. 116
Bibliographyp. 119
Textbooks and Monographsp. 119
Data Sourcesp. 120
Articlesp. 120

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