The Birmingham age-herald., 1924-08-10
MunytF actors Inuolued
 In Appraising Property
Birmingham Man Tells How Realty Values
 Are Determined
i By FRANK E. CLARK Hazxard- Clark Mortgage O., Inc, Bir,
 mingllhrs. Ala.

minglarn, Ala.
 Reproduced by Courtesy National Real
 = Estate JOprnal)
 The appraising of real estate, while not an exact science, can by years of experience in handling properties, by selling, renting, or otherwise, and in studying the best methods of others and applying them with mixture of com mon sense and experience to one's own locality, be lifted out of the state of guess work and approach in decision near the exact market value of the property in. question.
 am only going to touch upon the high points which are used by real es- tate appraisers in inspecting properties. I wilI skip over the origin of cities why are cities why their location, etc., and pass directly to what makes values and what real estate appraisers, as well as saleslnen, should know and study. In the preparation of this paper have quoted from the following authorities 1: Cecil c. Eyers, 'sThe Commercial Prob iefns in Building; Alfred ID. Bernard, Some Principles and Problems of Real Estate valuations,p and Richard M. Hurd, Principles of City Land Valua-, tions."
 Cities grow in certain definite tiirec- tions, either along the lines of least re- sistance, as Birmingham did at first in Jones Valley; or, secondly, while con timaing the first way along lines of greater attraction, as upon our noun tain sides, and over. The new Country , club district will in a few years be a decided example of this.
 . Ue Al |. a which, expanding more or less regularly along lines of least resistance Or greater , attraction, Is subject to Modification by external and certain inf tnaI influences, : such as zcning etc. Thb study of the ground plansof any cifS will enable us to ascertain the lines communication with the exterior, the Rin arteries of internal traffic, the subordinate streets, the distribution of different sections and their relation to one another and to the whole.
 The economic area of Birmingham is very much greater than its political area. Whereas the city limits are with in an area of approximately fifty-four square miles, 1t is the mart Or center of trade of large district, commonly spoken of as 'The Birmingham Dis Gk1Cgs sss,R Fl sf s. v
 Four Factors Affecting Values
 There are four greatefactors affect ing the value of real estate and inhum- erahle lesser ones. The four great ones are:
 I. location; 2, utility; 3, shape; 4,
 As general thing in cities the most valuable land is in the heart of the best retail section; however, the most val uable property per front foot in the world is in. the heart of the financial district of New York City and is oc- cupied by the Bankers Trust company. This property is estimated to be worth $l60,O0O front foot.
 The highest value, with the above ex- ception noted, to which land may attain Is not being in the centqr of population but in getting its greatest utility by be- ing so located as to be accessible to the gre test number of people who buy gOs,sis. As front. footage in a highly de- veloped retail district is more valuable than great depth, after a reasonable depth is secured, shape is factor to be considered, and, of course, the greater the size of the; lot the more valuable if will be. An additional percentage ia often added to the value of property. consisting of two or more adjoining lots, of valuable property owned under one ownership; this is called pIottage and should Kightfully be given. Our real estate board, thanks to AIessrs. Tucker and Walter, several sye4rs ago adopted a unit foot rule for measuring ground values, using depth of 40 feet as part.
 The appraiSing of corner lots is a subject in itself; thorngh knowledge of values on each street (which make the corner is necessary, but, In general our leading authorities have estimated cor lners to be worth iB residential districts from 10 to 25 per cent more than inside lots, and in business districts up to 100 per cent more, or even higher. Greater accessibility, greater display, greater advertising, greater light, air and uaglity are some of the factors which give the corner lots greater value over inside ones.
 Eventually in the larger cities the subdivision of certain sections is highly developed. On South 21st street we see our automobile district, with it's attend ing tire and accessory shops on Morris avenue. our produce and grain stores. and go on- This condition is due main ly to the greater saving of time when purehaseFs find ready at hand different competing houses selling goods in which they are in need. In our residential dis tH1cts, although to lesser degree, you will. ind our wealthier, OF so-caiIed fashionable class eongreeating, the workman living within easier access to his work, etc. An this affects values.