Part 2 – 32 Appraisal Institute General Demonstration Appraisal Report Writing
2.6 Table. An Overview of the Six-Step Market/Marketability
Analysis Study Process2
2. Ibid. Adapted from Market Analysis for Real Estate: Concepts and Applications in Valuation...
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Part 2 – 32 Appraisal Institute General Demonstration Appraisal Report Writing
2.6 Table. An Overview of the Six-Step Market/Marketability
Analysis Study Process2
2. Ibid. Adapted from Market Analysis for Real Estate: Concepts and Applications in Valuation and Highest and Best
Use.
Step 1. Define the Product (Property Productivity Analysis)
A. Physical attributes
B. Legal and regulatory attributes
1. Private
2. Public
C. Location attributes
1. Identification of economic attributes—the association between site uses
and their linkages
2. Identification of the movement of demand in relation to the direction of
urban growth
Step 2. Market Delineation
A. Market area delineation concepts
1. Time-distance concepts and standards
2. Area over which equally desirable substitute properties tend to compete
with the subject
B. Market delineation techniques
1. Gravity models
2. Customer spotting
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