The Magnitude of Random Appraisal Error in Commercial Real Estate Valuation

作者: Richard A. Graff , Michael S. Young

DOI: 10.1080/10835547.1999.12090966

关键词: Income approachReal estateValuation (finance)StatisticsCapitalization rateStandard deviationActuarial scienceEconomicsCost approach

摘要: Analysis of more than seven hundred pairs simultaneous independent appraisals institutional-grade commercial properties shows that the standard deviation random component appraisal ...

参考文章(25)
Marvin Wolverton, Paul Gallimore, Client Feedback and the Role of the Appraiser Journal of Real Estate Research. ,vol. 18, pp. 415- 431 ,(1999) , 10.1080/10835547.1999.12091001
Richard Graff, Michael Young, Adrian Harrington, The Shape of Australian Real Estate Return Distributions and Comparisons to the United States Journal of Real Estate Research. ,vol. 14, pp. 291- 308 ,(1997) , 10.1080/10835547.1997.12090902
Mark Dotzour, Quantifying Estimation Bias in Residential Appraisal Journal of Real Estate Research. ,vol. 3, pp. 1- 11 ,(1988) , 10.1080/10835547.1988.12090565
David M. Geltner, William N. Goetzmann, Two Decades Of Commercial Property Returns: A NCREIF Index Using Independent Appraisals Social Science Research Network. ,(1998) , 10.2139/SSRN.58123
Jerry Ferguson, After-Sale Evaluations: Appraisals or Justifications Journal of Real Estate Research. ,vol. 3, pp. 19- 26 ,(1988) , 10.1080/10835547.1988.12090543
Richard Graff, James Webb, None, Agency Costs and Inefficiency in Commercial Real Estate The journal of real estate portfolio management. ,vol. 3, pp. 19- 36 ,(1997) , 10.1080/10835547.1997.12089537
David Geltner, Richard Graff, Michael Young, Random Disaggregate Appraisal Error in Commercial Property: Evidence from the Russell-NCREIF Database Journal of Real Estate Research. ,vol. 9, pp. 403- 419 ,(1994) , 10.1080/10835547.1994.12090763
Edward J. Kane, Edward J. Kane, Patric H. Hendershott, Patric H. Hendershott, Office Market Values During the Past Decade: How Distorted Have Appraisals Been? Social Science Research Network. ,(1992)