Appraisal Institute President TEGoVA Fall Meeting Oct 1820 2018 Presentation Highlights US perspective as embodied in US valuation standards and body of knowledge European perspective Prospective value and valuation standards ID: 782196
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Prospective Values
James L. Murrett, MAI, SRA
Appraisal Institute President
TEGoVA Fall Meeting
Oct. 18-20, 2018
Slide2Presentation HighlightsU.S. perspective as embodied in U.S. valuation standards and body of knowledgeEuropean perspectiveProspective value and valuation standards
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Slide3U.S. Perspective, as Embodied in U.S. Valuation Standards and Body of Knowledge3
Slide4Valuation ProblemWhat is to be valued? What type of value is to be developed? On what date does the valuer believe the property holds that value?4
Slide5Date of ValueThe date of value (effective date) may be a:CurrentPast Future
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Slide6Date of ValueDate of valueValuations involving current valuesmortgage lendingacquisitionlease renegotiation
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Slide7Retrospective ValuesEstate tax reporting purposesResolving damage claimsDisputes over property taxes7
Slide8Prospective ValuesFinancing of proposed constructionFeasibility analysesFinancial planning8
Slide9European Perspective9
Slide10European PerspectiveProspective values not provided by valuersEVS restrictions10
Slide11European Perspective Current property characteristicsCurrent values Prospective values 11
Slide12Prospective Value and Valuation Standards 12
Slide13Prospective Value and Valuation Standards Where prospective value fitsDate of valuation not later than date of Valuation Report13
Slide14Prospective Value and Valuation Standards Defining valuation dateEstimate of valueMarket or income approach14
Slide15Prospective Value and Valuation Standards Market practicesEstimated gross development valueConsistent assumptions15
Slide16Questions?16
Slide17Prospective Values
James L. Murrett, MAI, SRA
Appraisal Institute President
TEGoVA Fall Meeting
Oct. 18-20, 2018