Table of contents : Foreword Contents 1. Nature and Purpose of Appraisals 2. Nature of Real Property and Value 3. Basic Principles of Real Property Value 4. The Valuation Process 5. Economic Trends 6. Neighborhood Analysis 7. Land or Site Analysis 8. Land or Site Valuation 9. Residential Styles and Functional Utility 10. Commercial and Industrial Functional Utility 11. Building Material and Equipment 12. Building Cost Estimates 13. Accrued Depreciation 14. The Cost Approach 15. The Market Data Approach: Principles 16. The Market Data Approach: Application 17. The Income Approach 18. Gross Income Estimates 19. Analysis of Expense 20. Rates in Capitalization 21. Straight and Annuity Capitalization 22. Mortgage Equity and Discounted Cash Flow 23. Valuation of Partial Interests 24. Rehabilitation, Modernization, and Remodeling 25. Reconciliation of Value Indications 26. The Appraisal Report Appendix A. Code of Ethics Appendix B. Compound Interest Tables Appendix C. Mathematics in Appraising Suggested Readings Index