A two-stage least squares model of housing prices is estimated with data collected from 3358 single-family home transactions. The results provide evidence for an optimal marketing period and indicate that a liquidity premium is priced in single-family home sales. Consistent with the hypothesis...

Real estate professionals believe that foreclosed houses sell at a discount. This article empirically investigates whether foreclosed houses sell at a discount. A sample of 2,482 residential transactions in Arlington, Texas, is used in a hedonic pricing model to test this hypothesis. The results...

This paper presents an empirical analysis of the effect of impact fees on the value of land used in residential development. A random effects model is estimated to examine the relationship between impact fees and land values using forty-three Texas cities that impose impact fees. Prior research...

The Resolution Trust Corporation (RTC) was created by congressional legislation passed in 1989, and was charged with, among other things, the orderly disposition of other real estate owned (OREO) property. Questions have been raised about how efficient and effective the RTC has been in achieved...

Rutherford, Springer and Yavas (2001) develop and empirically test a model that analyzes the effect the type of listing contract, either exclusive agency (EA) or exclusive right to sell (ERTS), has on the performance of the agent/broker. This paper extends the work of Rutherford et al. and looks...

This paper offers a theoretical and empirical analysis of the exclusive agency and exclusive-right-to-sell contracts used in real estate brokerage. The theoretical model predicts that while both contract types will yield the same price, the exclusive agency contract will result in faster sales...

In residential real estate an agent is often hired when an owner decides to sell his property. The seller may have less information than his agent and thus may be at a disadvantage in setting the asking price and negotiating the final selling price. The purpose of this study is to offer...