Why do I feel such a sense of accomplishment?Longest thread title ever.
If you're referring to depth-value estimation then there is a good discussion of this in Boykin's text "Land Valuation - Adjustment Procedures and Assignments" published by the Appraisal Institute. In John A. Zangerle's 1924 book, Zangerle observed that the first depth curve was the 4-3-2-1 rule. Under this rule, a parcel was divided into quarters, with the first quarter of depth from the street being worth 40% of the total value, the second quarter contributed 30% of total value, the third quarter was worth 20% and the rear quarter was sorth 10%.
Babcock suggested that different types of land would reveal different depth-value patterns. The rate of value increase will be very low in retail districts, will be relatively higher in wholesale districts and in apartment districts, and will very nearly approach direct propertion in industrial property.
Any basic economics book and any appraisal book that has the "principles." It should also show up in your market analysis.Can anyone refer a text or article which discusses this theory?
Ditto. I have a feeling I'm going to have a tough time explaining these principles to owners of Montecito flag-lot estates that have long private drives that greatly enhances the property's privacy, solitude, and setting.I'm posting just to track this thread.