The Appraisal Institute recently published a second edition of its famed book, “Market Analysis for Real Estate: Concepts and Applications in Valuation and Highest Best Use”, which for the past 20-years has set the standard for appraisers as they examine a property’s productivity, delineate the market, study and compare supply and demand, investigate market trends, and develop a capture estimate for the property being appraised.
Written by Stephen Fanning—MAI, AICP, CRE, SGA, and owner of Fanning & Associates—this second edition is comprised of a 3-part text that presents the principals and techniques of market and marketability analysis. It also illustrates these concepts with case study applications, and explains how the information developed in the appraiser’s market analysis contributes to the highest and best use conclusion and the application of the three approaches to value.
The case study properties examined in the book’s text include an existing shopping center, office building, industrial property, apartment complex, vacant land, and vacant shopping center, and the spreadsheets for these said case studies have been made available on the Appraisal Institute’s website.
“Market Analysis for Real Estate: Concepts and Applications in Valuation and Highest Best Use, Second Edition” presents market analysis as an integrated process, and helps demonstrate how market and marketability techniques are applied to actual situations that appraisers encounter when performing valuations and complex, stand-alone market studies.
Those interested in purchasing this second edition may do so at any time by visiting the Appraisal Institute’s website.