A Trophy Property
A trophy property is a recognized category of real estate in the U.S. and elsewhere. It is generally defined as the top 2% of properties within a given subcategory. While real estate appraisers in the U.S. have long recognized trophy properties as having unique valuation characteristics, only recently have the appraisal organizations begun to codify appropriate methods and techniques. Dr. Bill Mundy, one of the appraisal community’s leading experts on the topic, authored a series of articles for the Appraisal Journal in 1991, 2002 and 2003.
July 15 2008 06:42 pm | Uncategorized