Real Estate Valuation Theory is organized around five categories of intellectual contribution to the whole-appraiser decision making and valuation accuracy, application of nontraditional appraisal techniques such as regression and the minimum-variance grid method, appraising contaminated...

This article investigates the effect of agency on the distribution between buyer and seller of cash charges paid at closing. An analysis of covariance (ANCOVA) model is developed to control for the concomitant effects of financing choice and compensating changes in nominal price on buyer's...

Appraisers routinely work at solving ill-structured valuation problems where the normative performance criterion is an objective judgement of market value as of the valuation date. This study, theoretically grounded in the lens model of perceptual theory, investigates the effect of client...

This study represents the first investigation of appraiser income at the national level. It is especially timely because it addresses the value of Appraisal Institute designations in a post-FIRREA world, in addition to investigating the impact of gender on appraiser income. The study employs a...

Empirical studies disclose that foreclosed residential properties sell at a discount from the expected market price for non-foreclosed residences. This investigation shows that prior findings on residential properties can be extended to include income-producing properties. In addition, it...

This study investigates the normative paired sales adjustment method employed by appraisers in the sales comparison approach. It finds that the method fails to account for the diminishing marginal price effects of property attributes. The study develops an empirical model to test the marginal...