"VALUE" IN REAL ESTATE ASSESSMENT

An Empirical Assessment of the Value of Green in Residential Real Estate

Although there remains some controversy regarding the issue of humaninduced climate change, there is always a market for money-saving devices, including those that increase energy and water use efficiency.1 There are also nonpecuniary benefits of human comfort when a residence maintains its temperature with less cycling of heating and cooling devices, so it is reasonable that buyers would pay f...

Option Value in Presale of Real Estate Property

A common practice in real estate markets is the sale of housing development units before completion, and in some cases even before beginning of the actual construction, known as presale. Developers that choose to presell units are subject to default on the part of the buyers if market conditions become unfavorable. In recent years, court rulings in Brazil have established that developers must r...

Modeling Urban Dynamics: Mobility, Accessibility and Real Estate Value

For many decades, aggregate data (pertaining to zones) were used to study urban dynamics, using summary methods that rarely permitted the study of urban phenomena at the spatial process level [CLI 81]. Given the scarcity of data and lack of technology capable of processing data to model the details of the process, urban studies’ research was still able to obtain conclusive results with regard t...

Further Evidence that Solar Adds Value to Real Estate

Cornish-Fisher Expansion for Real Estate Value at Risk

Value at risk is a convenient and popular risk measurement tool. It represents the maximum potential loss on a specific portfolio of financial assets given a specific time horizon and a confidence interval. Principally value at risk is used in finance for risk management, financial reporting and capital requirement. In direct real estate, the calculation of this risk measurement is still rare e...