The Test of Time

One of the more important economic principles we consider in real estate appraisal is the Principle of Anticipation. The notion that markets are forward looking. To do it well, you better have a good crystal ball! Back in the Spring, I posted a few comments on...

The worm turns

In previous blogs, I’ve made reference to the subprime mess and what caused it. Since then, things are starting to happen. My natural assumption was that appraisers would be blamed again, as we were following the Saving & Loan problems in the 1980’s....

Biofuels and Land Values

On a previous post, I mentioned how grain prices were being bid up in anticipation of demand for biofuels, and how that was driving a higher land market. Since that post, unprecedented prices have been experienced and near chaos is present in the grain markets. Limit...