Here is the synopsis of our sample research paper on Highest and Best Use Analysis of Two Properties. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
A 3 page paper providing highest and best use real estate appraisal analysis of a residential property and a commercial property in the same general area. Recommendation on both properties is that in the interim they are most useful in their present state, but that in the future they may be more productive in other forms. The run-down house in a rejuvenated neighborhood with increasing numbers of small children may be better used as a small park for the neighborhood; the old grocery store outdated for supermarket use is useful as a general retail space at present but lends itself to becoming the site of a multi-story office building in the future. Each assessment passes the "four tests" of use. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSrealEstAppr.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
As towns and cities grow, structures built years earlier that at the time were appropriate for location and function can become anomalies is their immediate surroundings. There are
times that the land on which these structures stand can be put to better use; this concept is the foundation of the "highest and best" use analysis of real estate
appraisal. The purpose here is to assess whether two properties - one residential, one commercial - have reached that point. Components of Highest and Best Use Analysis
There are four components of the highest and best use analysis, one of which holds four categories. They are: * Four tests 1. Physically
possible 2. Legally permitted 3. Economically feasible 4. Maximally productive (Candidate Handbook, 2006) * "Vacant site or as if vacant" (Candidate Handbook, 2006; p. 30) * As improved * Interim
use (Candidate Handbook, 2006) Residential Property This property is an older (built in 1948) home that has not been materially upgraded for decades.
It is located in a stable, low-crime neighborhood where homes are similar in size and age, but where most have been maintained well and updated periodically. This particular
house is the neighborhood "eyesore" but occupies two of the largest lots in the neighborhood. The neighborhood currently is occupied primarily by elderly
people who have lived in their homes for decades, but as those owners die or can no longer live alone young families are beginning to move into the neighborhood.
The houses are small but so are the children, and the houses are affordable for young families. In the future, it may be
...