These standards have been prepared to promote uniformity in the appraisal of real property among the various agencies acquiring property on behalf of the U.S., by both direct purchase & condemnation. Contents: standards for approaching the solution to certain recurring appraisal problems (cost approach, income approach, highest & best use, etc.); data documentation & appraisal reporting standards (zoning & other land use regulations, contents of appraisal report, etc.); general standards of a miscellaneous nature (impartiality, witness composure, leasehold takings, etc.). Cases & statutes.

The litigation environment -- Origin of eminent domain and just compensation -- Legal measurements of just compensation -- Property rights -- The larger parcel -- Highest and best use -- Land use regulations -- Cost approach to value -- Income capitalization approach to value -- Sales comparison approach to value -- Subdivision development analysis -- Construction of the public improvement -- Damages in partial taking cases -- Benefits--general and special -- Easements -- Inverse condemnation and regulatory takings -- Writing the report -- Preparation for trial -- The expert witness

This reference book defines hundreds of terms related to buildings, properties, markets, regulations, and appraisal. Specialized sections cover property types, business valuation, international valuation, real estate organizations and professional designations, legal and regulatory aspects, uniform standards, information technology, measures and conversions, and architecture and construction. The architecture and construction section is heavily illustrated with black-and-white photographs and diagrams. Annotation copyrighted by Book News, Inc., Portland, OR.

The 12th edition of this textbook has been revised and reorganized significantly for greater clarity, coherence and consistency. Coverage includes emerging issues such as the impact of automated valuation models on the appraisal industry; the new emphasis on extraordinary assumptions and hypothetical conditions in recent revisions of standards of professional practice; and important data sources. For both novice appraisers and established practitioners. c. Book News Inc.