[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-323579-105":59,"doc-detail-323579-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","the-valuation-of-realestate","The valuation of realestate","","The document examines how the commercial or investment value of land and buildings should be determined in cities and towns. It argues that value cannot be equated with sale price, with prices achieved in comparable-property transactions, or with the maximum amount a particular buyer is willing to pay. It highlights distortions from poor judgment, real-estate booms, and special circumstances that create price differences, emphasizing principles that should guide valuers and municipal 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does the document mean by “value” in real-estate valuation?","Question",{"text":112,"@type":113},"It treats value as commercial or investment value of land and buildings.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Why can’t a property’s value be determined from its sale price?",{"text":117,"@type":113},"Sale bargains may be very bad for either party, so the transaction price does not reliably represent value.",{"name":119,"@type":110,"acceptedAnswer":120},"How do special circumstances affect the relationship between price and value?",{"text":121,"@type":113},"Special value arises when a buyer or owner has particular motives (e.g., preserving a view, expanding premises, or needing land for an advertising purpose), so price can differ from value.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},323579,1790490295,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":44,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145,"preview_page_count":4},687197207057,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","97-84098-9Vaughan,W.  \n# The valuation of realestate\n\n[S.I.]  \n[19--?]  \n# COLUMBIA UNIVERSITY LIBRARIESPRESERVATION DIVISIONBIBLIOGRAPHIC MICROFORM TARGET\n\nORIGINAL MATERIAL AS FILMED·EXISTING BIBLIOGRAPHIC RECORD  \nRoproductions may not be made without pemksslon trom Columbia University Lbraries                  \n## RESTRICTIONS ON USE:\n\nTECHNICAL MICROFORM DATA  \nFILM SIZE:          35mmREDUCTION RATIO:      /1.'/  \nMAGE PLACEMENT:IA  \nDATE FILMED:                  5/.7197  \nINITIALS:                    Ic  \nTBACKING\\#:                                                                                              21232  \nFILMED BY PRESERVATION RESOURCES,BETHLEHEM,PA.  \n308  \n53  \nTHE VALUATION OF REAL ESTATE.  \nBY  \nW.VAUGHAN  \nTHE VALUATION OF REAL ESTATE.  \nBYMyiu Giu-, ha)  \nw.VAUGHAN.  \nWhile the factors which determine the value of arable orpasture land eould be intelligentlystated by only a comparativefew,there will always be found in any agricultural communitypersons whose knowledge of the fertility of the soil,the supplyof labour,the means of distribution,and other loeal conditions,coupled with personal experience and native shrewdness,willenable them to make a very approximate estimate of that value.A similar proposition is obviously true of towns and cities,andof the value of land and buildings within their limits.But inthese more densely populated eommunities,the needs particularlyof borrowers and lenders have given rise to a class of persons,called valuers,who,for remuneration,profess to give an impartialas well as an approximately exact estimate of the value of whatis generally styled“renl estate.”The duty,too,of the muni-cipal authorities or other tax-levying power,to distribute thelocal rates or taxes justly,has necessitated the appointment,wherever rates or taxes are levied upon real estate,of one ormore persons to act as ouncial valuers or assesSors for the muni-cipality.  \nThere are,therefore,a very large number of men who eitherin whole or in part obtain their livelihood by valuing the realestate of others,and it is natural to suppose that,the nature oflands and buildings being esBentially the same in civilizedcountries,valuers and asCSsors are everywhere guided by the8ame fundamental principles in forning estimates of their value,But,on the contrary,there is the greatest divergence.In thisCity of Montreal they appear to be guided by no principle at all,for no prineiple can be found in common report or the apathy ofproprietors.These reflections and the examination of severalhundred valuations by profesed valuers and by the City Assessors,have led to this attempt to state the prineiples which ought togovern the valuntion of real estate in cities and towns.  \n2  \nIn the first place,it must be taken for granted that when wespenk of“value,”we mean eommereial or investment value.What constitutes then the value of lands and buildings,and howis it determined?It would be superfuous to point out that thevalue of a piece of land and the price at which it may be boughtand sold are by no means the same thing if it were not the factthat a large number of otherwise well-informed business menare apt to confound the two.Let us clear the groun1 of suchmisconceptions.  \nThe value of any property eannot be determined by the pricefor which a sale ean be effected,for the bargain may be a verybad one for the buyer or the seller.Nor by the prices for whichthe sales of several similar properties,such as houses of identiealsize and construction in the same street,have been or can beeffeeted,for ignorance or bad judgment may lead many buyersor many sellers to make bad bargaine,as has so often been theense in cities which have experieneed a\"boom in real estate.\"Nor ean it be determined by the highest price which a would-bepurchaser,lacking neither knowiedge nor good judgment,iswilling to give for it,for the property may have a special valueto that bidder,and the price may be a prie ďestime or faneyprice.A story is told of an English ","cbCaiiX1rSHIp2gW","https://ap.wps.com/l/cbCaiiX1rSHIp2gW","pdf",813779,14,"English","# The valuation of realestate\n## Commercial or investment value\n## Why sale price is not value\n## Effects of special value and buyer-specific circumstances","[{\"question\":\"What does the document mean by “value” in real-estate valuation?\",\"answer\":\"It treats value as commercial or investment value of land and buildings.\"},{\"question\":\"Why can’t a property’s value be determined from its sale price?\",\"answer\":\"Sale bargains may be very bad for either party, so the transaction price does not reliably represent value.\"},{\"question\":\"How do special circumstances affect the relationship between price and value?\",\"answer\":\"Special value arises when a buyer or owner has particular motives (e.g., preserving a view, expanding premises, or needing land for an advertising purpose), so price can differ from value.\"}]","The valuation of realestate | PDF",1789965588,35]