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Can you please explain when a person would use the terms, "Highest and Best Use" please define this for us.

Thanks

This is real estate appraiser nomenclature. appraisals@raknight.com (02/06/2008) —Preceding unsigned comment added by 76.177.77.167 (talk) 20:29, 6 March 2008 (UTC)[reply]

tontis_41@msn.com

The term serves as the fundamental basis for all real estate appraisal. It is as fundamental as determine market rent.Martin Heidegger 20:44, 8 November 2006 (UTC)[reply]
I'll add two cents worth to this. In the U.S., under the Uniform Standards of Professional Appraisal Practice, if the basis of value is Market Value, then the appraiser is required to perform an analysis of the HBU of the property and report that in the appraisal report. Market Value explicitly presumes that the property is utilized at its highest and best use. (Good question, by the way) Thesurveyor (talk) 17:22, 24 November 2007 (UTC)[reply]

The example on this page is wrong. H&BU is that which maximizes land value. This is basic appraisal from Ricardo to von Thunen to today. (e.g., all the developers would build apartments, and no industrial buildings. The profit of apartments would fall as land prices for apartments is bid up. Industrial buildings would then only be built on cheaper land.) Sincerely, an MAI (Appraisal Institute). —Preceding unsigned comment added by 75.70.169.250 (talk) 07:28, 20 January 2009 (UTC)[reply]

Needs historical info

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I added the template on missing historical background. From comments above, it appears that David Ricardo would be a good place to begin looking for the origin of the concept. The article does not attempt to put the concept in a global perspective (do Tokyo developers and lawyers debate H&BU?), much less to indicate historical change, or varying interpretations.

I am on an enforced wikibreak, which prevents my logging in, but I'm User:Alarob. -- 166.137.12.230 (talk) 14:20, 24 May 2010 (UTC)[reply]

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