This article applies hedonic modeling techniques to estimate the value of a sample of apartment properties sold in the greater Portland, Oregon area. An equation for value as a function of location, amenities and capitalization rate is derived. This model explains about 95% of the variation in...

This paper examines the use and value of rental concession using a 1988 sample of apartment rents in the Greensboro/High Point/Winston-Salem (North Carolina) MSA. The first section develops an approach to the problem and the second section estimates a logit model to predict the use of...

This paper provides a catalogue of the papers published in The Journal of Real Estate Research during its first ten years of operation, 1986-96. Articles are indexed by volume and number of The Journal, author, title, and subject.

This paper explores the factors that influence the earnings of REALTORS. It presents estimates of a human capital earnings model estimated on the basis of a nationwide survey of REALTORS collected by the National Association of REALTORS in 1984. Estimates of this model are compared to previous...

This study develops a model of real estate cap rates that draws on the weighted average cost of capital (WACC) theory and the capital asset pricing model (CAPM) in the finance literature. The model indicates cap rates are determined by debt and equity spreads. The debt spread is the risky debt...

This paper explores the bias in estimates of housing price appreciation that arises because of problems of sample selection. As suggested by Haurin and Hendershott, sample selection potentially is a serious problem because studies normally are based on samples of only homes that have sold, not...

Previous research has reported that the real estate market for retail space is slow to adjust, however, comparatively little research has investigated the supply of retail space for individual metropolitan markets. This study presents our findings by metropolitan statistical area (MSA) of the...

This article is the winner of the Innovative Thinking ‘‘Thinking Out of the Box’’ manuscript prize (sponsored by the Homer Hoyt Advanced Studies Institute) presented at the 2001 American Real Estate Society Annual Meeting. This study examines the dynamics of real...

IThis paper examines the impact of brokers, brokerage firms and marketing strategy on time on the market (TOM) in the residential housing market. Using a duration model methodology, the study finds duration dependence to be positive, suggesting that the probability of sale increases with TOM....

An apparent paradox in household wealth accumulation in the United States is the relatively small holding of financial assets and the large holding of housing wealth. To explain the high concentration of household wealth in housing, this paper estimates the marginal propensity to consume from...