What Is The Best Way To Use Residual Methods Of Valuation?}

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Submitted by: Mark Aucamp

The residual method of valuation is utilized to estimate the amount that it is worth paying for land or buildings that is to be developed or redeveloped.

The application of the residual method is based upon the principle that the price to be paid for a property that agrees with for development is equal to the difference between i. the completed value of the highest and best form of permitted development and ii. the total Residual Method of Valuation cost of doing that development.

Hence, the net capital value of the finished development is evaluated after deducting any costs of sale on the assumption that it has been created for the most valuable form of development, and from that value is deducted the cost of all construction and building work required to perform the development, including all ancillary costs, e.g. purchase costs, letting fees, finance, etc., as well as an appropriate allowance for profit on the development.

The residual method of valuation may be used to estimate the value of a property that is being held for development, or is to be offered for sale, as well as being adapted to estimate the anticipated profit from a development project. In practice, it is the principal means of development analysis and is widely adopted as the basis for setting up the budget for most development projects. The residual method of valuation, by its nature, is based on a considerable number of variables -rental, financial investment yield, construction costs, building period, letting or sales period, finance costs, fees, property taxes and all other ancillary costs- and these must be assessed on the basis of the valuer’s outlooks of the future. So, it is a highly subjective method of valuation and should be used with care.

It has been said, in connection with an application to the Lands Tribunal to ascertain compulsory purchase compensation, that “it is a feature of the residual valuation that comparatively simple adjustments to the constituent numbers can have a major effect on results …” and “once valuers are let loose on residual valuations, nevertheless honest the valuers and however reasoned their argument they can prove almost anything”, First Garden City Ltd v Letchworth Garden City Corporation 1966, 200 EG 123, 460. Accordingly, the residual valuation will be agreed to by the Lands Tribunal as a method of ‘last resort’. See also abstraction approach AmE, building residual technique US, development property, land residual technique US, project valuation, residual process US.

Bibliographical references for Residual Method of Valuation:.

J. Armatys et al. Basic principles of Valuation London: 2009, Ch. 9 ‘The Residual Method’.

C. Darlow. Valuation and Development Appraisal – London: 1982, pp. 1– 28. Residual Method of Valuation.

E. Shapiro et al. Modern Approaches to Valuation 11th ed. London: 2012, Ch. 11 ‘Residual Method of Valuation’.

It’s a variant, used in the USA, for a method of appraisal, based on the income approach, that is used to determine the value of a plot of land omitting any buildings thereon, or to estimate the value of a building independent from the land.

An income is assessed that is considered appropriate to the plot of land, or the building– normally by deducting from the income receivable from the land and buildings together an income estimated as suitable for the land, or buildings, alone. This income is then find more at realestatedefined.com. Also called ‘highest and best use analysis’, especially when used to determine the value of the land for its highest and best use. Called ‘highest and best use analysis’, especially when used to ascertain the value of the land for its highest and best use. See also Construction residual technique, land residual technique.

About the Author: Damien Abbott, B.Sc.,FRICS is the author of the Encyclopedia of

Real Estate Phases

. Damien is an expert in providing definitions for Real Estate terms and today’s term is

RESIDUAL METHOD OF VALUATION

. http://realestatedefined.com/blog/residual-method-of-valuation/

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US actor Peter Falk dies aged 83

Sunday, June 26, 2011 File:Peter Falk Columbo.JPG

US actor Peter Falk died on Thursday at his home in Beverly Hills, California after a struggle with Alzheimer’s disease. Falk may be most known for his role as Detective Columbo in the television series of the same name that ran on NBC from 1968 to 1978, which moved to ABC in 1989. The last episode aired in 2003. His portrayal of the character won him four Emmy Awards.

Falk, born in 1927, had his right eye surgically removed at the age of three, due to a cancerous growth. He wore a glass eye for most of his life. Because of this, he was rejected by the armed services at the end of World War II.

Falk starred in his first crime film, Murder, Inc. in 1960, for which he was nominated for an Academy Award. In Blake Edwards’s 1965 film The Great Race, he appeared with Jack Lemmon, Tony Curtis, and Natalie Wood.

Falk is survived by his wife and two daughters.

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  • 5 June 2017: Conductor Jeffrey Tate dies aged 74
  • 3 April 2017: Pop-artist James Rosenquist dies aged 83
  • 18 January 2017: Rape-accused Russian political artist Pyotr Pavlensky to seek asylum in France
  • 2 January 2017: Tyrus Wong, Bambi artist, dies at 106
  • 30 December 2016: Poland pays €100m for Czartoryski art collection
  • 10 September 2016: Ten-ton ice cube melting in Seattle park
  • 12 October 2015: Wikinews interviews painter Pricasso on his art and freedom of expression
  • 14 March 2015: Reflections, Lichtenstein, two new exhibitions at Edinburgh’s Modern One
  • 28 January 2014: Warhol’s photo legacy spread by university exhibits
  • 27 March 2013: Andrew Sayers resigns National Museum of Australia directorship
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Why Oral Hygiene Matters

Submitted by: Patrick Boswell

If you think that going to the dentist is just a way to make your smile look nice, than I have to tell you that you are sadly mistaken! The fact of the matter is that a trip to the dentist isn t about vanity at all, no, a trip to the dentist is all about health. To be specific, oral hygiene is the name of the game when it comes to trips to the dentist.

Sure we all want a nice looking smile, but for many of us that isn t enough to get us to the dentist. What so many people fail to realize is that a trip to the dentist isn t just about keeping your smile looking its best, but rather a trip to the dentist is mostly about keeping your mouth healthy. In turn, when you keep your mouth healthy, you keep the rest of your body healthy as well. Many people fail to realize that the mouth can harbor bacteria and can actually be the cause of many other physical ailments. So the long and short of it is that it is simply the best idea to keep your mouth as healthy as possible by going to a dentist regularly for checkups and cleanings.

[youtube]http://www.youtube.com/watch?v=vzyG7qhY4zc[/youtube]

You can start to take care of your mouth by doing things like brushing and flossing, you might even try using a waterpik or mouth rinse, but what it comes down to is that good oral hygiene starts at home. How many times have we heard the classic line; You haven t been flossing, have you? Well these words are so well known because many people fail to do the simple things at home that could make their trips to the dentist just that much easier! Taking care of your teeth at home is the first step towards proper oral hygiene; the next step is to check in with your dentist on a regular basis to make sure that all is going well with your mouth and teeth.

If you have a fear of the dentist you can do much to make your visits shorter and easier by having exceptional oral health before you enter the door. This way the dentist will have relatively little to do! It seems like a common idea, but if you maintain your car regularly at home by cleaning it, changing the oil, changing the transmission fluid, flushing the cooling system, etc. you will have relatively few, and relatively brief trips to the mechanic. The same logic applies to your teeth as well. The more you do to maintain them in your own home the less you will have to have done in the dentist office. So start taking care of your teeth at home today by brushing, rinsing, flossing, and whatever else your dentist might recommend. That way you will be assured to have great oral health and simpler trips to the dentist, but always remember to keep up with your cleanings as well, it s always important to see your dentist for a routine cleaning.

About the Author: A leading dental practice in North Carolina that is committed to offering

high quality dental services

and exceptional patient care have provided the information for this article. They are led by a great

dentist

in Raleigh, North Carolina that offers a wide variety of dental treatments, including expertise in oral care.

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Illegal drug found to be used in the manufacture of toys

Wednesday, November 7, 2007

Bindeez beads, a children’s toy from Australia and manufactured by Moose Enterprise in Hong Kong, is being pulled off toy store shelves in the United Kingdom after traces of an illegal drug, which is converted into gamma-Hydroxybutyric acid (GHB) when ingested, was found inside the toy. At least 20 million toys are affected.

So far at least three children from the U.K. and at least two from Auckland, New Zealand have fallen seriously ill and are currently receiving medical attention. The toy is also sold in the United States as Aqua Dots, with two reports received by the U.S. Consumer Product Safety Commission (CPSC) of children needing hospitalization after ingesting the beads.

“We’ve asked all our customers to take them off the shelf while we retest everything to make sure the toys comply with all regulations,” said the company in a statement, although no mandatory recall has been issued for the product. The statement also says that the plant in Hong Kong was not using a chemical mixture approved by the company.

“This substitution was not at any time approved by Moose nor was Moose made aware of any substitution by the supplier,” added the statement.

The toys were supposed to contain a non-toxic chemical known as 1,5-pentanediol, but instead 1,4-butanediol, which is mainly used in creating the illegal drug GHB, was used in the toys. When humans consume 1,4-butanediol, the body converts it into GHB and could make the individual seriously ill, causing headaches, seizures, dizziness and in some cases death. GHB is a natural chemical found in a variety of things such as beef, wine and some varieties of citrus fruits. It is also used as a pharmaceutical which is sold as Xyrem.

Recent animal research indicates that drugs are available for human use which may work as antidotes to the poison, either by hindering its conversion to GHB with 4-methylpyrazole (fomepizole, Antizol) or by blocking GHB’s effectiveness at the receptor (SCH 50911). Rodent testing has found the lethal dose of 1,4-butanediol to range from 1.4 to 2.5 grams per kilogram body weight, but an antidote can increase the lethal dose by a factor of 10.

It is not known how the chemicals got mixed up, but officials for the toy company say that they are continuing the investigation. The toy is currently banned in all of Australia, but the company says all those who bought it will be refunded their money.

“The issue of how a dangerous substance was used in these beads and not the non-toxic substance … that is going to take us a few more days to uncover,” said Australia’s Fair Trade Minister, Linda Burney in a statement to the press.

The toy was recently named Australia’s number one toy for 2007.

Wesley So wins TATA Steel Chess

Wednesday, February 1, 2017

On Sunday, Filipino-US chess grandmaster Wesley So won this year’s Tata Steel Chess Tournament, held in Wijk aan Zee, Netherlands, securing 9.0 points out of thirteen. Following closely in second place was current World Champion Magnus Carlsen with 8.0 points.

Wesley So won five games and drew the remaining eight. A player gets a point for each win, half a point for a draw and no points for a loss. He is currently on a 56 lossless game streak.

In the final round, Wesley So was paired against Russian grandmaster Ian Nepomniachtchi. Wesley So captured a central pawn which was expected to be recaptured to equalise material but wasn’t. Soon, his opponent unexpectedly castled offering a pawn sacrifice which was accepted. Despite being ahead in material his opponent threatened to capture his queen. However, he was able to defend using his extra central pawn and prevent counter-play forcing the Russian to resign.

He won last year’s Grand Chess Tour by winning the Sinquefield Cup and London Chess Classic and coming second in the Leuven Grand Chess Tour.

Magnus Carlsen won four, tied eight and lost a game against Richárd Rapport. In the last round he faced his rival and contender for the World Chess Championship of the last year, Russian Sergey Karjakin. In the game, Karjakin provoked Carlsen to sacrifice his knight on which grandmaster Fabiano Caruana tweeted, “Karjakin must be in a very charitable mood”. He quickly sacrificed his knight pinning Karjakin’s knight to his queen. Despite being a piece down he gained an advantageous position. Karjakin defended his position extremely well, as grandmaster Alejandro Ramírez said, “He can commit the most despicable errors and then show world-class toughness from the next second!”. The defence worked and a draw was agreed upon.

Also known as the “Wimbledon of Chess”, the Tata Steel Chess tournament attracts top chess players every year. The tournament has two professional groups, Masters and Challengers, and an amateur group. It is organised in a round-robin format where each player plays a game against all other players. The tournament is scheduled to run its 80th edition next year in Wijk aan Zee, Netherlands.

Final US manufacturer ceases production of lethal injection drug; executions delayed

Tuesday, January 25, 2011

The sole United States manufacturer of a key component of lethal injections announced Friday that it will cease production of the drug, contributing to shortages and delaying executions.

Sodium thiopental, the first of a three drug cocktail used in 34 states to render the prisoner to be executed unconscious, was manufactured in Italy until Italian authorities stated that they would only license the manufacture if it was used for medical purposes and not, crucially, for executions.

In a statement, the company, Hospira, said that they have never condoned the use of their drug, marketed as ‘Pentothal’, in executions, and that they could not “prevent the drug from being diverted to departments of corrections for use in capital punishment procedures”.

The move means that the United States is without a viable supplier for sodium thiopental. Although many European countries manufacture the drug, which is primarily used in Europe as an anæsthetic, no manufacturer has been found that is willing to supply it for use in conjunction with the death penalty, the abolition of which has been lobbied by the EU since 2008.

The shortage means that executions in California and Oklahoma have been delayed, with Texas’ last remaining stocks of the drug due to expire in March, weeks before two scheduled executions. These delays are likely to be prolonged as the legal process of drawing up new drugs to be used for injections is lengthy. Pentobarbital, an alternative which used at the Dignitas clinic in Switzerland, is used for lethal injections in Oregon, and has started to be used by Oklahoma.

Hospira’s decision caused mixed reactions throughout the medical community, with the American Society of Anesthesiologists stating Monday that sodium thiopental is an “important and medically necessary anesthetic agent” that is a “first-line anesthetic in many cases”, citing geriatric and cardiovascular conditions, among others. It said that, although they disagree with the death penalty, “we also do not condone using the issue as the basis to place undue burdens on the distribution of this critical drug to the United States. It is an unfortunate irony that many more lives will be lost or put in jeopardy as a result of not having the drug available for its legitimate medical use.”

Essential Tips On Grand Canyon Bus Tours

Submitted by: Keith Kravitz

Many Grand Canyon bus tours begin in Las Vegas, and you might want to consider taking one of these fantastic bus excursions if you’ll be vacationing in the city. It would be a shame to be so close to one of the world’s most spectacular wonders, and not make an effort to experience it firsthand.

Which Rim?

You can take a bus tour to the South Rim or the West Rim. It’s not possible to see both rims in the same day, so you’ll need to take two separate tours if you want to see both. Both rims are great destinations, and your tour will include much more than just transporting you to your final destination.

One landmark you will pass on a Grand Canyon bus excursion from Las Vegas is Lake Meade, which happens to be the largest man-made reservoir in the United States. On most of them, you’ll ride over the Hoover Dam Bypass Bridge and then double back to the Arizona side of the dam so you can take some great photos. If you want to see the Hoover Dam, make sure it is included in your itinerary before you make your tour reservations.

[youtube]http://www.youtube.com/watch?v=SrKfvto1zK8[/youtube]

Exploring the Grand Canyon National Park by bus is a good way to get a close look at it’s spectacular scenery. Typically, you will have around three hours for exploring the canyon, taking in the sights, and snapping pictures. If you choose a West Rim tour, you will see landmarks such as Eagle Point, Hualapai Ranch, the Indian Cultural Center, and Guano Point. Interesting places to note on a tour to the South Rim include Yavapai Point, Grand Canyon Village, and Mather Point.

The Skywalk

You could tour the Grand Canyon a different way, such as a helicopter or airplane ride, but coach tours are much more affordable. Of course, the final cost will depend upon the type of tour you choose. As you can imagine, the most basic tours are the least expensive. You’ll pay more if you add a pass to the Grand Canyon Skywalk, a helicopter ride or a boat ride to your tour package. If you can afford it, you should upgrade your tour because you will get to see and do much more than you could on just a basic tour.

Your bus driver doubles as a knowledgeable guide to the area. Your driver/guide will make your tour even more special by telling you about the area’s geology, wildlife and history.

The deluxe bus trip option will give you the most personalized experience. These keep the number of passengers to around a dozen or so, that way you will have unrestricted access to the tour guide. You’ll also stop at more locations while you’re on the way to and from the National Park. I suggest you look into this type of tour because it’s a great experience.

Deluxe Coaches

In addition to having comfortable seats with a lot of leg room, modern motor coaches usually have nice added amenities such as plasma televisions, personal air conditioning, extra large viewing windows, and clean restrooms. A lot of tours use double-decker buses. You will certainly appreciate a modern motor coach with its many luxuries after spending a day riding through the desert in the summer heat.

Be sure to book your Grand Canyon bus expedition well in advance of your trip. These tours are extremely popular with Las Vegas visitors, and I’m seeing more and more dates being sold out. You can find out what tours and dates are still open by checking on tour operator websites. By booking online, you will get the best deal for your money when you book Grand Canyon excursions from Las Vegas.

About the Author: Keith Kravitz is a travel writer and a specialist on Grand Canyon bus excursions. If you’re searching for

budget friendly coach excursions

, he recommends looking at these low prices:

grandcanyonbustours.org/prices.html

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Anthrocon 2007 draws thousands to Pittsburgh for furry weekend

Tuesday, July 17, 2007

Pittsburgh, Pennsylvania — Local caterers get ready for big business, as almost three thousand fans converge on the David L. Lawrence Convention Center over the Independence Day weekend for the world’s largest ever furry convention, Anthrocon 2007.

Many hope to renew acquaintances, or meet new friends. Others look to buy from dealers and artists, or show off new artwork or costumes. Some attend to make money, or even learn a thing or two. But one thing unites them: They’re all there to have fun.

Contents

  • 1 Costly expansion
  • 2 Programming and entertainment
  • 3 Audience
  • 4 Art show and dealers
  • 5 Charity and volunteers
  • 6 Local impact
  • 7 Related news
  • 8 Sources