Skip to main content

Appraisal Institute Debuts Property Use Classification System

Phil Hall
Sep 11, 2018
The Appraisal Institute has published a new book that details the challenges in valuating properties that are subject to being condemned through the eminent domain process

The Appraisal Institute has launched a new information system to classify and describe property uses while helping real estate-related professionals with their property use data storage and analysis.
 
The Property Use Classification System (PUCS) is based on the Appraisal Institute’s 15-year-old Commercial Data Storage Standard and expands the number of property classes from 13 to 18 and divides uses for land and buildings. PUCS contains three levels of use classification—property class, property type and property subtype—and provides an expansive number of property types and property subtypes, including newly developed appraisal considerations such as energy, rock-climbing facilities, recycling centers, waste transfer stations and intermodal properties.
 
“The Appraisal Institute’s Property Use Classification System has wide applicability through the real estate sector,” said Appraisal Institute President James L. Murrett. “It will be of tremendous value to stakeholders and service providers to the valuation profession, real estate brokers, architects, engineers and others.”
 
PUCS v. 1.0 is made available under a Creative Commons Attribution-NoDerivatives 4.0 International License (CC BY-ND).

 
Published
Sep 11, 2018
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021