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Richard U. Ratcliff Award.

Barrett A. Slade, PhD, MAI, is the winner of the 2014 Richard U. Ratcliff Award and a $3000 honorarium for his article "Land Rush! Winners and Losers in the New Century," published in the Winter 2014 issue of The Appraisal Journal.

The Richard U. Ratcliff Award is presented annually for the best original article published in The Appraisal Journal written by an academic author. Articles are judged on the basis of pertinent appraisal interest, provocative thought, logical analysis, perceptive reasoning, clarity of presentation, and overall contribution to the literature of valuation. To be eligible for this award, an article must have been peer reviewed by members of The Appraisal Journal's Academic Review Panel and the principal author must be primarily engaged in teaching at a college or university.

In "Land Rush! Winners and Losers in the New Century," Slade analyzes the findings of transaction-based, constant-quality, land price indices in 28 US metropolitan markets. The indices were developed to examine price changes that occurred during 2000-2012 and were constructed using a large data set provided by CoStar Group, Inc. The indices capture the dramatic changes in land prices during this period and allow a comparison across metropolitan markets. The results show Tucson land prices fared the best during the study period (96% price increase); this was followed closely by land price increases in Boston (88%), Washington, DC (86%), and New York (83%). Detroit land prices fared the worst (-65%); decreases were also seen in Las Vegas (-56%), Cleveland (-56%), and Atlanta (-52%). Overall, national land markets at the end of 2012 were at approximately the same price levels as in 2000.

Barrett A. Slade, PhD, MAI, is a professor of finance at the Marriott School at Brigham Young University and has 30 years of experience in the real estate profession. His valuation and consulting experience includes portfolio valuation, due diligence investigations, feasibility studies, white paper research studies, problem property strategies, and expert witness testimony. He is the author of The Valuation of Office Properties: A Contemporary-Perspective, published by the Appraisal Institute. His research has been published in numerous real estate finance and economics journals including The Appraisal Journal, Journal of Real Estate Finance and Economics, Real Estate Economics, Journal of Real Estate Research, National Tax Journal, Journal of Real Estate Practice and Education, Institutional Real Estate Letter, Real Estate Review, and Journal of Real Estate Portfolio Management.

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Title Annotation:Barrett A. Slade
Publication:Appraisal Journal
Geographic Code:1USA
Date:Mar 22, 2015
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