Appraising Residential Properties

Appraising Residential Properties, second edition, is the definitive guide to the valuation of residential real estate. The text covers everything you need to know about appraising houses and provides step-by-step instructions on the valuation process. All the fundamentals of residential appraisal are explained: property inspection, neighborhood analysis, data collection, the selection of comparable sales, the adjustment of sales data, the reconciliation of value conclusions, and the preparation of an appraisal report. Each of the three approaches to value is discussed and demonstrated with comprehensive, real-world examples. Special emphasis is placed on the sales comparison approach, which is the approach most often applied to residential real estate. In addition to its coverage of the theory, terminology, and current techniques of residential valuation, this revised text provides a wealth of information on land description and building construction. A basic understanding of residential design and building components can be gleaned from the detailed illustrations of major structural and mechanical systems, common architectural styles, house types, and sample floor plans provided.