New Book Examines Water Rights and Their Impact on Appraisals

With the world population estimated to have re­cently passed seven billion, the global freshwater market will be a “seller’s market” for the foreseeable future, according to a new book by the nation’s largest professional association of real estate appraisers. The Appraisal of Water Rights, published by the Appraisal Institute, encourages appraisers to become geographically competent in order to provide credible, reliable opinions of value for properties involving water rights. “Appraisal assignments involving water rights are often challenging. Although the valuation of water rights is not commonly covered in appraisal texts, freshwater is a vital property asset that will continue to grow in importance as the world’s population increases,” Appraisal Institute President Sara W. Stephens, MAI, wrote in the book’s foreword. The Appraisal of Water Rights, by author Steven J. Herzog, MAI, covers the nature and transferability of water rights, the applicability of appraisal standards and the skills and knowledge needed to handle valuation assignments involving water rights competently. Case studies demonstrating the appraisal of partial and stand-alone interests are included along with a glossary of water-related terms.