Appraisal Institute Unveils Book Regarding Market Analysis for Real Estate
The analysis of real estate markets is a core skill of modern appraisal and is critical for risk management in the marketplace, according to a new book from the nation’s largest professional association of real estate appraisers. Market Analysis for Real Estate: Concepts and Applications in Valuation and Highest and Best Use, second edition published this week by the Appraisal Institute helps 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. “Only an experienced, trained valuation professional can provide dispassionate, unbiased analysis of the supply and demand for a class of property in a specific market and of the marketability of a specific property in that market, which is a key decision-making tool for market participants,” Appraisal Institute President Ken P. Wilson, MAI, SRA, wrote in the book’s foreword. Market Analysis for Real Estate: Concepts and Applications in Valuation and Highest and Best Use by Stephen F. Fanning, MAI, is a three-part text that presents the principles and techniques of market and marketability analysis, 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.