The Valuation of Apartment Properties.

In recent years, apartment properties have consistently topped the wish lists of institutional real estate investors. A growing economy, increasing populations of traditional renters and empty nesters, and numerous opportunities to reposition apartment properties hit by the financial woes of the late 1980s have all contributed to the rabid demand for income-producing residential property. With apartment sale prices in all major markets skyrocketing, pressure on the appraisal community continues to mount. As the market reaches its peak, valuation professionals will need to perform increasingly rigorous analyses so that they can justify their value conclusions and provide objective advice to investors expecting endless price escalations.

To ensure that appraisers are prepared to face the uncertainties of a volatile market, the Appraisal Institute is proud to present its newest publication, The Valuation of Apartment Properties, an up-to-date examination of the specific appraisal challenges presented by multifamily, income-producing residential properties. From the difficulties encountered in collecting comparable data to forecasting demographic trends, the book addresses all of an appraiser's nagging concerns.

In The Valuation of Apartment Properties, authors Arlen Mills, MAI, SRA, and Anthony Reynolds, MAI, put each of the three approaches to valuing apartments under the microscope and demonstrate a variety of valuation techniques. They focus on the essential processes of site and property analysis and market analysis, presenting a case study in which a 25-step worksheet is used to forecast market area demand and subject capture. Wrapping up the discussion--and placing the appraisal of apartment properties within the context of the general valuation process--the authors reexamine the three Rs of real estate appraisal: reconciling, reporting, and reviewing.

A copy of The Valuation of Apartment Properties belongs on your bookshelf next to the Appraisal Institute's classic text Appraising Residential Properties. Together these books give you a one-two punch and prepare you to value any type of residential property.

(1999) Softcover, 118 pages

Stock number: 0588M

Members: $31.50 [*]

Nonmembers: $35 [*]

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