Market analysis is essential to real estate appraisal, and only an experienced, trained valuation professional can provide the type of in-depth study required to identify the supply and demand for a class of property in a specific market and assess the marketability of a unique property in that market. For twenty years, the six-step market analysis process described in Market Analysis for Real Estate: Concepts and Applications in Valuation and Highest and Best Use has set the standard for appraisers as they examine a property's productivity, delineate the market, study and compare supply and demand, investigate market trends, and develop a capture estimate for the property being appraised. This new edition of the classic reference is a three-part text that presents the principles and techniques of market and marketability analysis, illustrates these concepts with case study applications, and explains how the information developed in the appraiser's market analysis contributes to the highest and best use conclusion and the application of the three approaches to value. The case study properties examined in the text include an existing shopping center, office building, industrial property, and apartment complex as well as vacant land and a vacant shopping center. Market Analysis for Real Estate presents market analysis as an integrated process and demonstrates how market and marketability techniques are applied to actual situations that appraisers encounter in performing valuations and complex, stand-alone market studies. Download the case study spreadsheets used in the case study applications in the book. Stephen Fanning, MAI, AICP, CRE, SGA, is the owner of Fanning & Associates, which specializes in market analysis, highest and best use studies, and valuation. Fanning also has extensive experience in the urban planning and community development field, having served as managing director of a comprehensive planning institute, vice president for planning of an engineering firm, and planning director of a north Texas city. Visit http://www.appraisalinstitute.org/market-analysis-for-real-estate-second/?F_All=Y for more information.