Appraisal, Market Analysis and Public Policy in Real Estate

This book is organized into four functional areas that reflect the multi-disciplinary approach to real estate studies influenced by James A. Graaskamp. The first section focuses on theoretical and philosophical issues. The second section explores real estate appraisal, feasibility and special use analysis. The third section reviews market analysis and trade area delineation that is critical to spatial analysis of real estate. The final section considers some of the important public policy issues as they relate to real estate.

Introduction. Section I: Philosophical Issues. 1. The Evolution of Real Estate Decisions; S.E. Roulac. 2. The Search for a Discipline: the Philosophy and the Paradigms; T.V. Grissom, C.H. Liu. 3. Crisis in Methodology: Paradigms vs. Practice in Real Estate Research; J.M. Clapp, M.A. Goldberg. D. Myers. 4. Is There a Body of Knowledge in Real Estate: Some Mutterings about Mattering; A.J. Jaffe. Section II: Appraisal, Feasibility and Special Use Analysis. 5. The Price of Wilderness and Scenic Beauty: a Methodology for the Inventory and Appraisal of Wilderness and Scenic Land; M.L. Robbins, S.C. Ahearn. 6. Using Prior Information to Improve Estimation Efficiency and Predictive Performance for Mass Appraisal; O.W. Gilley, R.K. Pace. 7. PHYS-FI: a Physical-Financial Model for Design Economy Trade-Offs; M.A. Sharkawy. 8. An Insight into the Ideas of Professor James A. Graaskamp on Practice and Reform in Appraisal; R.R. Fraser, E.M. Worzala. Section III: Market Analysis and Trade Area Delineation. 9. A Four-Square Design for Relating the Two Essential Dimensions of Real Estate Market Studies; D. Myers, K. Beck. 10. Refining Empirical Procedures for Market Area Delineation; K. Peterson. 11. An Investigation into the Competition between the Downtown Shopping Area and the Suburban Shopping Mall; D.H. Bleich. 12. Multiple Store Trade Area Relationships and Logistic Response Function Estimation; C.E. Stanley. Section IV: Public Policy Issues. 13. Transfer of Ownership Rights via Rent Control; W.N. Kinnard, Jr. 14. Interpreting Monte Carlo Simulation with Generalized Sensitivity Analysis: the Case of Historical Rehabilitation; G.A. Overstreet, Jr., G.M. Rubin. 15. Toward Socially Efficient Broker Behavior in Factual Representations; D.R. Levi, C.D. Terflinger, S.C. Webb. 16. The Price of Owner-Occupied Housing Services: 1973-1989; D.C. Ling. 17. The Measurements of Effective Rent; C.A. Kroll, S. Taff. Index.