The Use of Geographic Information Systems in Real Estate Appraisal Essa

The accustom of Geographic Information Systems in Real Estate Appraisal abstractednessAppraisers need to show the reasoning behind their value opinions by discussing all-important(prenominal) spatial relationships and their likely effect on value. Geographic information systems (GIS) stack be used to analyze these relationships and to show why a knob should select an appraiser who has this level of information. Gilbert Castle has noted that tangible estate is essentially a game of information arbitrage. The likely winner of the game is the person that takes advantage of computerized analyses. Castle explains that GIS is an attention-getting way of show what you know.(n1) Of course, larger data sets be used for GIS analysis, not just the stripped three comps. The visual aids that GIS can generate could also be very useful in litigation, to help explain complex issues to a jury that is relatively unfamiliar with real estate valuation. Clear conversation of complex technical issues is the basis of forensic consulting, an emerging field that is anticipate to grow more rapidly in the future. The need for forensic consulting has been created by rapid changes in technology. The Arden-Guthrie Problem Arden-Guthrie is a neighborhood in San Bernardino, California. A number of fraudulent transactions in that neighborhood inflated the seeming(prenominal) value of local quadruple properties. The question is, How could a lecturer engender used GIS to find the problems caused by the fraudulent sales? Many of the properties in question are located within the diaphragm group depict in red in Figure 1. Other problem properties are located in a block group just in the south of the outlined area. The larger red area at the top of the symbolise is part of a color-coding system that shows median rents by census block groups. As we can see, renters in this area one-half mile to the compass north were paying from $913 to $1,001 per month at the time of the 1990 cen sus. This represents the highest rent category for San Bernardino County. rental data from the 2000 census will be available soon. A reviewer could print out such a map and use it to cut back quickly for inconsistencies. One obvious inconsistency would be an appraisal that concludes that rents in the highest bracket are indicated for a property that is located in a low-rent area. Census data is relatively inexpensive. Data for the entire country was ava... ...5. pawl F. DeGiovanni in Gentrification, Displacement and Neighborhood Revitalization, SUNY series on urban populace policy, Albany State University of New York Press, c19846. Emily DeNitto, A Neighborhood Grows in Brooklyn, Crains New York Business, January 1, 20017. Margaret E. Dewar, Why State and Local Economic Development Programs arrange so Little Development, in Economic Development Quarterly, Vol. 12 zero(prenominal) 1, Sage Publication, February 19988. Slobodan Djajic in Slobodan Djajic, Internat ional Migration Trends, Policies and Economic Impact, Routledge, London, New York 20019. Greg Donaldson, The Ville cops and kids in urban America, New York Ticknor & Fields, 199310. Economist, A modest contribution, field of study Migration, October 2002BibliographyEconomist, A modest contribution, Survey Migration, October 2002Eliot Asinof, People vs. Blutcher,, Viking Press Inc. New York, 1970Emily DeNitto, A Neighborhood Grows in Brooklyn, Crains New York Business, January 1, 2001Frank F. DeGiovanni in Gentrification, Displacement and Neighborhood Revitalization, SUNY series on urban public policy, Albany State University of New York Press, c1984