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...

This study provides empirical evidence regarding brokerage firm concentration in a local market multiple listing service setting over the year 1992-1995. To evaluate the level of brokerage firm concentration in this market, Gini Coefficients, Herfindahl-Hirschman Indices and Concentration Ratios...

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...