Appraisal Institute Updates “Historic
Properties” Book; Offers Member Discount

The Appraisal Institute has released the third edition of Historic Properties: Preservation and the Valuation Process, by Judith Reynolds, MAI. Designed to provide real estate professionals with an understanding of what makes properties “historic,” the book discusses how such properties differ from more typical properties and how the historic preservation movement has modified traditional concepts of ownership.

“All preservationists working in any capacity, all appraisers and all historic property owners who have valuation issues can gain valuable insight from this book,” explains Reynolds. “That includes anyone with a preservationist inclination, including real estate developers, real estate professors and students.”

The book explains how legislation, government policies and the availability of tax credits affect highest and best use and market value. It also includes a case study relating to a historic hotel, which demonstrates how the traditional valuation approaches are applied to the appraisal of properties of architectural and historic significance.

Historic Properties: Preservation and the Valuation Process, third edition (Stock No. 0704M) is available to Appraisal Institute members for $35; $40 for nonmembers. Through June 30, 2006, Appraisal Institute members can take advantage of a special introductory price of $28 for a single copy. To place an order by telephone, call 800-504-7440. To order online, visit www.appraisalinstitute.org/ecom/publications.

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