Understanding the loss of value of assets, equipment, or property due to unforeseeable changes in techniques, tastes, or circumstances.
Appraisal is a formal evaluation of property, typically involving the analysis of market data to determine value.
A comprehensive overview of the various methods used to determine the value of a property, including the Sales Comparison, Cost, and Income Approaches.
An in-depth exploration of Assessed Value (AV), the public tax assessor's valuation placed on a property for taxation purposes, including types, calculation methods, examples, and historical context.
Capital Improvements are long-term additions or betterments that significantly augment a property’s value. They are crucial in property and asset management, offering increased functionality and aesthetic appeal.
Comparable Sales (Comps) are recently sold properties similar to the subject property that are used to help determine its value in real estate market analysis.
Understanding the Current Cap Rate as a Crucial Metric for Assessing Real Estate Investments.
Highest and Best Use (HBU) is a real estate appraisal concept that identifies the most profitable and legally permissible use of a property.
The Home Price Index (HPI) tracks and measures changes in the value of residential properties over time, reflecting broader market trends.
A comprehensive assessment to determine the market value of a property, taking into account current market conditions, trends, and comparable sales without adhering to IRS-certified evaluation standards.
Learn the differences between market appraisals and home inspections. Home inspections focus on the physical condition of the property, whereas market appraisals estimate its market value.
Negative Equity occurs when the value of an asset falls below the amount of the loan taken out against it, often seen in residential properties during economic downturns.
A methodology used in constructing the Case Shiller Index that focuses on tracking the price changes of the same properties over time.
An in-depth exploration of the concept of stigma in real estate, particularly focusing on the lasting social and economic impacts that polluted properties face, even after remediation.
An in-depth exploration of under-assessment, its implications, historical context, types, key events, formulas, charts, importance, examples, and related terms.
An in-depth exploration of the concept of appraising, focusing on the estimation of property value, including methods, considerations, historical context, and related terms.
Assemblage: The real estate process of combining two or more adjoining parcels of land into a unified larger tract, typically increasing its overall value.
Understanding the practice of 'Bleeding a Project' in new construction and real estate management, including implications, examples, and historical context.
Component Depreciation involves depreciating property based on the lifespan of individual assets within it, such as electrical and plumbing components, roofs, and foundations. The method contrasts with composite depreciation and has seen diminished use due to tax regulations.
Comprehensive coverage on the implications of consequential damages, primarily focusing on the loss in property value due to neighboring property developments or takings.
Curable Depreciation refers to the type of depreciation in real estate appraisal that can be rectified at a cost less than the value it adds to the property. Learn more about the concept, applications, and distinctions between curable and incurable depreciation.
Deferred maintenance in appraisal, a type of physical depreciation due to lack of normal upkeep.
The process of rezoning a tract of land for a less intensive use than that currently existing or permitted, known as downzoning.
Highest and Best Use refers to the most financially, legally, and physically viable use of a property that maximizes its value.
The significance of location in determining the value of real estate properties, along with considerations of other influential elements.
An open-end lease is a lease agreement that provides for an additional payment after the property is returned to the lessor, to adjust for any change in the value of the property.
Overimprovement refers to a situation where a property is developed to a standard that is too high for its location, resulting in a mismatch between the property's value and the land on which it is built. For example, constructing a $500,000 single-family home on a lot worth only $5,000.
Physical Depreciation or Physical Deterioration refers to the loss of value from all causes of age and action of the elements, including breakage, deferred maintenance, effects of age on construction material, and normal wear and tear.
Comprehensive look at the process of reassessment, spanning general review processes and specific applications in real estate to update property value estimates for tax purposes.
Reconditioning property involves restoring it to its original specifications, enhancing its value through repairs or strategic modifications.
Severance Damages are a form of compensation awarded to property owners when a portion of their property is condemned, diminishing the value or usability of the remaining property.
Explore the concept of capital improvements, their impact on property value, and the ways they increase a property's useful life and usability.
Learn what home equity is, how it's calculated by subtracting your outstanding mortgage from the market value of your home, and ways to use it effectively.
