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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedThe Appraisal Institute's designations have long been recognized as marks of excellence in the field of real estate valuation and analysis. Achieving an Appraisal Institute designation signifies that an appraiser has...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedIn July 1986, Carter Country Club Inc. (CCCI) conveyed a parcel of property in Lebanon, New Hampshire, to the trustee of the Farnum Hill Trust by deed (the Deed). The Deed contained a provision that stated the premises...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedPledger M. "Jody" Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant, South Carolina, is the 2022 president of the Appraisal Institute. Bishop's one-year term as president will be followed by one year as immediate past...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedIn the mid-1980s, the Oregon legislature enacted a measure declaring that the imposition of rent control on housing in Oregon was a matter of statewide concern. To address that concern, a city or county is prohibited...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedNationwide Mutual Insurance Company (Nationwide) owns two buildings in downtown Des Moines, Iowa, that serve as the company's headquarters. One building, built in 2002 and remodeled periodically, has seven stories and...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedAbstract 2021 brought multiple developments on the eminent domain front, including the special occasion when the US Supreme Court heard two takings cases. In addition, 2021 saw passage of the Infrastructure Investment...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedThe Pearl River Valley Water Supply District (District) is an agency of the state of Mississippi that operates and manages the Ross Barnett Reservoir and surrounding lands. It is authorized to lease or sell lands that...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedPerham Hospital District (District) is a public, nonprofit healthcare organization formed in 1976 to provide health care to rural communities near Perham, Minnesota. The District is a municipal corporation and political...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedManagement fees paid to hotel owner not part of lodge's income The Lodge at Vail (Lodge) is a full-service resort located in the Vail Mountain ski area. It is owned by Lodge Properties Inc. (LPI), which is a subsidiary...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedAbstract Appraisers encounter many situations in which the value of land must be estimated. Land value may need to be determined in the context of a sale or exchange, financing, taxes, financial feasibility,...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedAbstract A valuation assignment for a nonstabilized property with three property types, including a going concern, is a difficult assignment. The total excess earnings model (TEEM), however, can be a big part of the...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedVineyard Properties of Utah LLC (Vineyard) owns a commercial building that it leased to a tenant in 2017. The lease term was sixty-seven months, and the tenant negotiated for rent reductions for the first six months to...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedDear Readers: Welcome to the 2022 edition of The Appraisal Journal. This year marks the Journal's ninetieth year of publication. The Appraisal Journal has served as a vehicle for thoughtful discussion of valuation...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedGavora Inc. (Gavora) is a real estate holding company based in Fairbanks, Alaska. In 1974, Gavora acquired a commercial mall business that held a lease for property owned by the City of Fairbanks (City), and in 1976 the...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedAbstract This article presents the findings of an empirical study of residential property sales from 2005 through 2019 in areas surrounding five source sites known to be polluted with per- and polyfluoroalkyl...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedTo the Editor In researching guidance on appraisal disaster work, I came across The Appraisal Journal article "The Appraiser's Role in Calculating Casualty Loss Deductions from Natural Disasters" (Winter 2014) by James...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-ReviewedIn 1836, Texas declared its independence from Mexico, and in December 1836, the Congress of Texas (Congress) passed a law stating that all islands belonging to the Republic of Texas (Republic) shall be reserved for...
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From:Appraisal Journal (Vol. 90, Issue 1) Peer-Reviewed
Decline in hotel revenue during and after condemnation should be considered in takings compensation.
Bentleyville Garden Inn Inc. (BGI) owns and operates an 86-room hotel near Interstate 70 in Pennsylvania. In 2015, the Pennsylvania Department of Transportation (PennDOT) filed a declaration of a partial taking of BGI's...