This study provides an empirical test of the two main techniques for calculating the financing premium for assumption financed sales, cash equivalence adjustment (CEA) and financed-fee valuation adjustment (FFVA). The results indicate that both the CEA and FFVA computational techniques overvalue...

Models for testing assessor performance have been widely discussed in the literature. Many have been used in practice. The purpose of this study are to evaluate the performance of existing models and to propose two new models. We find that existing models can be used correctly to test for...

This study attempts to detect whether power lines, power line towers, or both have an impact on the selling price of proximate residential land and to measure the magnitude of these impacts if they exist. Secondly, it attempts to determine whether any impact which is found to exist is diminished...

It is commonplace to think of the price of land as an amount per unit of area. This may be inappropriate, because it appears that the value of land increases at a decreasing rate as area increases in some situations, and frontage and depth may affect value differently. Various rules have been...

The public sector constrains the size and shape of lots and buildings via zoning ordinances and subdivision regulations. Zoning ordinances utilize setback requirements, open space ratios, minimum lot area and floor-to-area ratios. Subdivision regulations utilize street and sidewalk spacing...

This study examines the economics of the optimal footprint area, atrium area, and height of an office building. We extend the work of Doiron, Shilling and Sirmans (1992) by incorporating realistic revenue and cost functions and reverting to the sufficient conditions of optimaility.

The objective of this paper is twofold. One is to provide a search-theoretical model of the marketing choice of the seller. The model explains the seemingly contradictory empirical results as to whether a seller raises the price of his house to pass on a portion of the broker's commission to the...