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2015_CDNPropertyValuation_MichaelLomax

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What is equally compelling is the integration of data sets into GIS such as LiDAR (Light Detection and Ranging), which present point clouds to denote things like buildings and vegetation. e user then has the ability to determine things like density (actual vs. allowed) by performing 3D analysis within that GIS centric property database (Figure 8). Visualization within 3D GIS (x,y,z coordinates) provides the capability to see and understand information that is not readily apparent in a spreadsheet or report. In the Figure 9 image, the grey shape represents in 3D the allowable height of building for that lot. e red shape is a 3D extrusion of the main floor of the building and identifies the true height of the current structure on the lot. e actual height of the building can be determined through different data sets such as photogrammetry, LiDAR and oblique imagery. ese types of technological innovations are also proving to be a benefit to multiple stakeholders in the real estate industry. For example, planners are looking at 3D GIS as a way to determine the future growth and look of cities. e image in Figure 10 shows how the use of 3D GIS can determine the overall heights of a city by property type and zoning/planning designation. One of the largest advantages is the ability to conduct 'what-if ' scenarios to influence policy and direction. How realistic is 3D GIS valuation? e screen shots in Figures 11a and 11b illustrate how realistic nature of 3D GIS city scenes. ey are realistic in terms of being physically accurate to the building strata plan, spatially as the physical structure exists in a scene using x,y,z coordinates, and visually by incorporation of imagery and building texturing using procedural rules within the scene. Complex buildings are then able to generate entire city scenes such as Figure 12, which is Vancouver, BC. e next step for the appraiser or real estate industry stakeholder is to utilize the scene to search out relevant information and visually map that information, such as comparable sales for a building (Figure 13) and entire sales databases for an entire city scene (Figure 14). Geo-processing and automated workflows can then be used to value entire cities using embedded software such as Multiple Regression Analysis (Figure 15). Over the last 30 years, technological change has rapidly advanced real estate software systems and applications used by the appraiser, assessor and real estate professional. e timeline, degree and pace of change provide a clear indication that the future will grow further from these technologies now in use today. e future will include more evolution towards automation or workflows, thereby freeing the single or mass appraisers to perform more reconciliation of the output and calibration of the tools. is allows them the ability to spend more time in analysis rather than on building or analyzing the data. FIGURE 14 FIGURE 15 Volume 59 | Book 3 / Tome 3 | 2015 | Évaluation Immobilière au Canada | Canadian Proper ty Valuation

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