000			01592cam a2200181 4500
001			##L131773
008			051207n2005 000 0 eng u
035			_a(Sirsi) u131773
041	0	4	_aeng
100	1		_aEpley, Donald R.
245	0	0	_aCorrect estimate of the economic life for real property
260			_c2005
490			_aReal Estate Review _v34(2) 2005, 78-89(17)
520			_aShows a short cut method for the estimate of Economic Life (EL) for real property. Its magnitude is shown to be driven by the components of accrued depreciation: the level of market forces of supply and demand, consumer tastes and the amount of owner maintenance. Presents a procedure that is based on market forces to determine an exact number for the estimate of EL needed by professionals involved with the value and financial analysis of property assets. Section 2 discusses the professional literature involving EL analysis and studies. Section 3 examines the components of accrued depreciation and the impact they have on the EL estimate. Section 4 defines EL and the paths it may take in the future depending on the loss in value from the owner's maintenance plans for the property and local market forces. Section 5 discusses the future paths of EL with respect to a specific property. Section 6 compares this material to several recent publications in a construction journal on the EL content. Concludes that the magnitude and path of total accrued deprciation is the critical factor. References.
590			_aIKA061205
690			_aPROPERTY-PROPERTY VALUATION AND APPRAISAL
942			_n0
999			_c104836 _d104836