Emerson’s book provides an overview of the methodology used in valuing existing and proposed single-unit residential subdivisions, according to a statement issued by the institute. Market and neighborhood analysis, highest and best use, profit and timeline concepts, land value, yield, line-item profit and discounting procedures are described in detail, the statement said. New case studies are presented to illustrate lot presales, mortgage financing, bulk sale forecasts and the time-zero profit dilemma.
In addition, “Subdivision Valuation,” second edition, addresses developer risk reduction strategies, lot sales to potential homeowners, proposed construction performance bonds and super pad sites. The Appraisal Institute statement also noted that areas of weakness in subdivision appraisal reports are examined to provide guidance on how to avoid common valuation errors.
“Subdivision Valuation,” second edition, (ISBN: 9781935328711) is priced at $60 ($50 for Appraisal Institute professionals). It can be ordered online from the institute.
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