Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090050_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: MAURICIO RODRIGUEZ Author-X-Name-First: MAURICIO Author-X-Name-Last: RODRIGUEZ Author-Name: C. SIRMANS Author-X-Name-First: C. Author-X-Name-Last: SIRMANS Title: Managing Corporate Real Estate: Evidence from the Capital Markets Abstract: Real estate accounts for 25 to 40 percent of the total assets of major U.S. corporations. Given the large investment, it is important to understand how decisions related to real estate assets affect firm value. This paper provides a review of the literature on the impact of real estate management decisions using evidence from the capital markets. The implications for corporate real estate decision makers are identified as are some of the unresolved issues. Journal: Journal of Real Estate Literature Pages: 13-33 Issue: 1 Volume: 4 Year: 1996 Month: 1 X-DOI: 10.1080/10835547.1996.12090050 File-URL: http://hdl.handle.net/10.1080/10835547.1996.12090050 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:4:y:1996:i:1:p:13-33 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090051_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: MARK COLEMAN Author-X-Name-First: MARK Author-X-Name-Last: COLEMAN Title: The REIS Reports, Inc.: A Profile Journal: Journal of Real Estate Literature Pages: 49-62 Issue: 1 Volume: 4 Year: 1996 Month: 1 X-DOI: 10.1080/10835547.1996.12090051 File-URL: http://hdl.handle.net/10.1080/10835547.1996.12090051 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:4:y:1996:i:1:p:49-62 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090052_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: DAVID PARKER Author-X-Name-First: DAVID Author-X-Name-Last: PARKER Title: Valuation by Capitalization: A Review of Comments by International Practitioners Abstract: Through a small-sample practitioner survey conducted in four world cities during late 1992, the similarities in the state of the respective prime CBD office investment property markets at that time were found to be paralleled by a consistency of trends in the valuation methodology adopted by practitioners for such property and in both the source of and relative importance of determinants of the capitalization rate. Journal: Journal of Real Estate Literature Pages: 37-45 Issue: 1 Volume: 4 Year: 1996 Month: 1 X-DOI: 10.1080/10835547.1996.12090052 File-URL: http://hdl.handle.net/10.1080/10835547.1996.12090052 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:4:y:1996:i:1:p:37-45 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090053_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 83-89 Issue: 1 Volume: 4 Year: 1996 Month: 1 X-DOI: 10.1080/10835547.1996.12090053 File-URL: http://hdl.handle.net/10.1080/10835547.1996.12090053 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:4:y:1996:i:1:p:83-89 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090054_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: YOUGUO LIANG Author-X-Name-First: YOUGUO Author-X-Name-Last: LIANG Author-Name: ARJUN CHATRATH Author-X-Name-First: ARJUN Author-X-Name-Last: CHATRATH Author-Name: JAMES WEBB Author-X-Name-First: JAMES Author-X-Name-Last: WEBB Title: Hedged REIT Indices Abstract: We present two models that modify real estate investment trusts (REITs) indices in order to track real estate performance. The first model, which is a modified version of Gilibcrto's (1993) model, is used to calculate a price-hedged index. The second model, developed by Liang, Chatrath, and McIntosh (1995). is used to calculate a total-hedged index. We apply the two models to the NAREIT equity REIT index, calculating the price-hedged and total-hedged equity REIT return indices. We provide a data set comprising the price-hedge ratio, total-hedge ratio, price-hedged index, and total-hedged index on a monthly basis over the period from January 1976 through December 1994. Since REITs do not suffer from the appraisal-smoothing problem associated with appraisal-based indices, the hedged REIT indices can replace appraisal-based indices such as the Russell-NCREIF index in many real estate studies. For example, the hedged REIT indices can be used in asset-allocation studies because they capture the correlation of real estate with other assets more accurately than the Russell-NCREIF index. Journal: Journal of Real Estate Literature Pages: 175-184 Issue: 2 Volume: 4 Year: 1996 Month: 1 X-DOI: 10.1080/10835547.1996.12090054 File-URL: http://hdl.handle.net/10.1080/10835547.1996.12090054 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:4:y:1996:i:2:p:175-184 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090055_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: AUSTIN JAFFE Author-X-Name-First: AUSTIN Author-X-Name-Last: JAFFE Author-Name: DEMETRIOS LOUZIOTIS Author-X-Name-First: DEMETRIOS Author-X-Name-Last: LOUZIOTIS Title: Property Rights and Economic Efficiency: A Survey of Institutional Factors Abstract: The primary focus of this paper is to provide a survey of the diverse research that examines the relationship between property rights and their effect on economic efficiency. The implications of this type of research are enormous for international real estate investors duc to the wide range of institutional structures affecting land and buildings throughout the world, Generally, it is found that stronger property rights structures are related to higher levels of economic efficiency because private property rights institutions create incentives to become increasingly efficient in terms of resource usage. Journal: Journal of Real Estate Literature Pages: 136-159 Issue: 2 Volume: 4 Year: 1996 Month: 1 X-DOI: 10.1080/10835547.1996.12090055 File-URL: http://hdl.handle.net/10.1080/10835547.1996.12090055 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:4:y:1996:i:2:p:136-159 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090056_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 237-246 Issue: 2 Volume: 4 Year: 1996 Month: 1 X-DOI: 10.1080/10835547.1996.12090056 File-URL: http://hdl.handle.net/10.1080/10835547.1996.12090056 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:4:y:1996:i:2:p:237-246 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090057_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: DANIEL GAT Author-X-Name-First: DANIEL Author-X-Name-Last: GAT Title: A Compact Hedonic Model of the Greater Tel Aviv Housing Market Abstract: Hedonic models have been used extensively in the economic analysis of multiattribute products in general, with housing as an especially favored focus. Hedonic housing models have two major ends: (1) to explore the relative importance and explanatory power of various housing attributes and (2) to assess the value of specific housing units in the absence of actual market transactions. This paper is of the first type. While complete data are never available, researchers have tended to look for more, rather than fewer, explanatory variables. Taking advantage of a previously computed socioeconomic index (SEI) of neighborhoods, this research proposes a minimal data set of just two predictor variables. Greater Tel Aviv recent housing prices are regressed onto two locational variables: the first, SEI, is used as a proxy for neighborhood quality, and the second represents employment accessibility. Taken together, the two attributes explain nearly three-quarters of the spatial price variation. Journal: Journal of Real Estate Literature Pages: 162-172 Issue: 2 Volume: 4 Year: 1996 Month: 1 X-DOI: 10.1080/10835547.1996.12090057 File-URL: http://hdl.handle.net/10.1080/10835547.1996.12090057 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:4:y:1996:i:2:p:162-172 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090058_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: BERTRAND RENAUD Author-X-Name-First: BERTRAND Author-X-Name-Last: RENAUD Title: The 1985 to 1994 Global Real Estate Cycle: An Overview Abstract: The globalization of financial markets is affecting real estate markets. During the period 1985 to 1994, a large number of countries experienced strong real estate booms that peaked around 1989 followed by severe asset price deflation and an output contraction that usually lasted until 1994. Global finance appears irreversible. Should we also expect the recurrence of real estate cycles of strong amplitude? Or does this first global cycle represent a one-time adjustment to global integration happening in many countries simultaneously? To facilitate further comparative analyses, this article inventories the international and domestic factors, in their macroeconomic and intrinsic real estate cycle dimensions, that contributed to this strong global cycle. This overview has three threads: What triggered this first global cycle? What has been its impact? Are there lessons for countries that are not yet fully integrated into global capital markets such as semireformed socialist economies, newly industrialized economies, and other developing countries?II y a quelque chose de commun entre l'art du puzzle et l'art du go; seules les pièces rassemblées prendront un caractère lisible, prendront un sens: considèrée isolément une piece d'un puzzle ne veut rien dire, elle est seulement question impossible, défi opaque.—George Perec, La vie, mode d'emploi1 Journal: Journal of Real Estate Literature Pages: 13-44 Issue: 1 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090058 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090058 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:1:p:13-44 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090059_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: WILLIAM WHEATON Author-X-Name-First: WILLIAM Author-X-Name-Last: WHEATON Author-Name: RAYMOND TORTO Author-X-Name-First: RAYMOND Author-X-Name-Last: TORTO Author-Name: JON SOUTHARD Author-X-Name-First: JON Author-X-Name-Last: SOUTHARD Title: The CB Commercial/Torto Wheaton Database Abstract: This article describes the CB Commercial/Torto Wheaton (CBC/TWR) database from the collection of data through the creation of the aggregate database. In addition, information on accessing the data for research purposes is included. Journal: Journal of Real Estate Literature Pages: 58-66 Issue: 1 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090059 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090059 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:1:p:58-66 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090060_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: JAIME ALVAYAY Author-X-Name-First: JAIME Author-X-Name-Last: ALVAYAY Author-Name: ARTHUR SCHWARTZ Author-X-Name-First: ARTHUR Author-X-Name-Last: SCHWARTZ Title: Housing and Mortgage Market Policies in Chile Abstract: This study provides a survey of the housing and mortgage market policies applied between 1976 and 1994 in Chile. These policies are implemented within the framework of a free-market economy in which the state plays a subsidiary role in the economic affairs of the nation. Of particular importance to the housing sector have heen the elimination of interest rate and rent controls, the elimination of a specialized housing finance system, and the consistent application of an indexation scheme that preserves the real value of monetary contracts and that allows investors the recovery of their funds with a competitive real return. Journal: Journal of Real Estate Literature Pages: 46-55 Issue: 1 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090060 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090060 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:1:p:46-55 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090061_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 87-96 Issue: 1 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090061 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090061 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:1:p:87-96 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090062_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: LING LI Author-X-Name-First: LING Author-X-Name-Last: LI Title: Privatization of the Urban Land Market in Shanghai Abstract: After the initiation of the privatization program of land use rights in China, land markets began to rapidly develop. This is undoubtedly due to a market mechanism finally being established to allocate land according to economic principles. However, the socialist practice of planned allocation for land leaves behind a land use pattern that affects the privatization of land market to a certain degree. In this study, a major land market in Asia-Shanghai, China-is examined in order to ascertain how the merging of the old land use pattern and the new market system for land use rights produces both opportunities and constraints in the process of privatization. Journal: Journal of Real Estate Literature Pages: 161-168 Issue: 2 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090062 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090062 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:2:p:161-168 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090063_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: LARRY WOFFORD Author-X-Name-First: LARRY Author-X-Name-Last: WOFFORD Author-Name: GRANT THRALL Author-X-Name-First: GRANT Author-X-Name-Last: THRALL Title: Real Estate Problem Solving and Geographic Information Systems: A Stage Model of Reasoning Abstract: The development of computerized geographic information systems (GIS) and the accompanying extensive databases, many of them utilizing desktop computers, has created a technological revolution extending directly into real estate problem solving. Real estate problems are often characterized as uncertain, complex, and dynamic. Solving them, if solutions are possible, is a multistep process with a strong emphasis on deductive reasoning and decision making, both emphases adopted from the finance and economics disciplines. This article develops a stage model that considers the fundamental reasoning activities of description, explanation, prediction, judgment, and implementation common to all problem-solving steps in order to assess how GIS may affect real estate problem solving. The model is used to demonstrate the potential of GIS to more fully incorporate problem-solving steps other than decision making into the problem-solving process and to make inductive thinking more rigorous and accessible. The article also considers the issues of rigor and relevance and potential side effects and unintended consequences associated with the use of GIS or other information technology. Journal: Journal of Real Estate Literature Pages: 177-201 Issue: 2 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090063 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090063 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:2:p:177-201 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090064_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: JOHN HYSOM Author-X-Name-First: JOHN Author-X-Name-Last: HYSOM Author-Name: PEGGY CRAWFORD Author-X-Name-First: PEGGY Author-X-Name-Last: CRAWFORD Title: The Evolution of Office Building Research Abstract: Office building development has had a relatively short history. However, since the 1880s, we have seen tremendous growth in the number and size of office buildings and a significant change in the location of these buildings. Early research in this area centered on technological changes and innovation in construction. As the market matured, researchers began to explore other areas of interest. This article provides a brief history of office building development in the United States. It then identifies, categorizes, and appraises the major studies in this area. It concludes with discussion of topics for future research. Journal: Journal of Real Estate Literature Pages: 145-157 Issue: 2 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090064 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090064 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:2:p:145-157 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090065_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 220-223 Issue: 2 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090065 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090065 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:2:p:220-223 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090066_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: NORMAN MILLER Author-X-Name-First: NORMAN Author-X-Name-Last: MILLER Title: Real Jobs: Assisting Students and Industry with a Resume and Job Posting Service Abstract: Real Jobs is a World Wide Web site designed to serve the students and alumni who are affiliated with university real estate programs or who have a career interests in real estate, as well as potential employers. Unlike most resume and job posting systems, Real Jobs allows geographical, experience, education, or other criteria to be used in the search process. Its URL is http://www.real-jobs.com. Journal: Journal of Real Estate Literature Pages: 203-209 Issue: 2 Volume: 5 Year: 1997 Month: 1 X-DOI: 10.1080/10835547.1997.12090066 File-URL: http://hdl.handle.net/10.1080/10835547.1997.12090066 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:5:y:1997:i:2:p:203-209 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090067_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: PATRIC HENDERSHOTT Author-X-Name-First: PATRIC Author-X-Name-Last: HENDERSHOTT Title: Equilibrium Models in Real Estate Research: A Survey* Abstract: Equilibrium analysis is a valuable tool in real estate investment research. In this survey, I show how equilibrium models have been used to estimate the required risk premium for different classes of real estate, to explain real house prices, and to determine investment rental market adjustment and valuation (as well as to predict future rent, price, and value developments). Equilibrium analysis has also increased our understanding of differences in coupon or rental rates on loans or leases with and without various optionlike features. Because the work on leases has lagged that on loans or mortgages, application of the mortgage research methodology to leases is an especially fertile area for research. Journal: Journal of Real Estate Literature Pages: 13-25 Issue: 1 Volume: 6 Year: 1998 Month: 1 X-DOI: 10.1080/10835547.1998.12090067 File-URL: http://hdl.handle.net/10.1080/10835547.1998.12090067 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:6:y:1998:i:1:p:13-25 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090068_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: M SHARKAWY Author-X-Name-First: M Author-X-Name-Last: SHARKAWY Author-Name: SARICH CHOTIPANICH Author-X-Name-First: SARICH Author-X-Name-Last: CHOTIPANICH Title: Housing Segmentation in Developing Countries in Transition: A Recent Case Study of Residential Development in Bangkok Abstract: This article utilizes case study research of the residential market in Bangkok to investigate residential development and market segmentation in developing countries with emerging market economies. The article first considers the process of economic reform and transformation before examining the entrepreneurial, legal, and institutional environments in Thailand and evaluating the pattern of urban growth in Bangkok. Segmentation studies are then presented by product type, price level, and spatial distribution before conclusions from the case study are generalized to developing countries in transition. Journal: Journal of Real Estate Literature Pages: 29-42 Issue: 1 Volume: 6 Year: 1998 Month: 1 X-DOI: 10.1080/10835547.1998.12090068 File-URL: http://hdl.handle.net/10.1080/10835547.1998.12090068 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:6:y:1998:i:1:p:29-42 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090069_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 61-65 Issue: 1 Volume: 6 Year: 1998 Month: 1 X-DOI: 10.1080/10835547.1998.12090069 File-URL: http://hdl.handle.net/10.1080/10835547.1998.12090069 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:6:y:1998:i:1:p:61-65 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090070_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: GRAEME NEWELL Author-X-Name-First: GRAEME Author-X-Name-Last: NEWELL Author-Name: JAMES WEBB Author-X-Name-First: JAMES Author-X-Name-Last: WEBB Title: Real Estate Performance Benchmarks in New Zealand and South Africa Abstract: This article discusses the Building Owners and Managers Association (BOMA) of New Zealand property index and the Richard Ellis property index for South Africa. The background, volatility, method of estimation, composition, and subindices are detailed. The availability and source of the indices are also provided. Journal: Journal of Real Estate Literature Pages: 137-143 Issue: 2 Volume: 6 Year: 1998 Month: 1 X-DOI: 10.1080/10835547.1998.12090070 File-URL: http://hdl.handle.net/10.1080/10835547.1998.12090070 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:6:y:1998:i:2:p:137-143 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090071_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: SUN HAN Author-X-Name-First: SUN Author-X-Name-Last: HAN Title: Real Estate Development in China: A Regional Perspective Abstract: This article seeks to examine the regional dimension of property investment and development in China and to evaluate the factors that shape the regional patterns. Data are gathered from Chinese policy documents and census publications. Descriptive statistics, nonparametric analyses, and linear stepwise regression models are employed to analyze the data. The results show a sharp difference between the coastal and the noncoastal regions in total volume of property transactions, but no significant variations between the same two regions in property development in the state-dominated sector. International capital—particularly investment from Hong Kong, Macau, and Taiwan—was the major factor that boosted an active property market along the coast. State-owned and collectively owned enterprises were the major players that contributed to maintaining a regional balance in China's property development. Journal: Journal of Real Estate Literature Pages: 121-133 Issue: 2 Volume: 6 Year: 1998 Month: 1 X-DOI: 10.1080/10835547.1998.12090071 File-URL: http://hdl.handle.net/10.1080/10835547.1998.12090071 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:6:y:1998:i:2:p:121-133 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090072_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: GRANT THRALL Author-X-Name-First: GRANT Author-X-Name-Last: THRALL Author-Name: STEPHEN GOLANT Author-X-Name-First: STEPHEN Author-X-Name-Last: GOLANT Title: HUD's Community 2020 Abstract: HUD Community Planning Software (HUDCPS), also referred to as HUD 2020 (coproduced by U.S. Department of Housing and Urban Development (HUD, Washington, DC) and Caliper Corporation (Newton, MA), telephone 800-998-9999 (request product sales), website (http://www.caliper.com/gishud.htm or http://www.hud.gov/cpd/2020soft.html) is a full-featured desktop GIS software program based on Caliper's Maptitude version 3.0 GIS software with a customized user interface and automated thematic mapping using data from HUD. HUDCPS runs under Windows 3.11, Windows 95, and Windows NT 3.5 and 4.0. HUDCPS requires an 80486 or Pentium-based computer equipped with a minimum of 12MB of RAM and a CD-ROM drive. Price is $249 with choice of HUD data from one of four (eastern, southern, central, and western) regions of the United States or $299 for HUD data from all four U.S. Census regions. It includes U.S. national TIGER/Line data sets (census tracts and block groups, streets, highways, landmarks, water areas) and attribute data (housing and population data from the 1990 U.S. Census). Journal: Journal of Real Estate Literature Pages: 147-150 Issue: 2 Volume: 6 Year: 1998 Month: 1 X-DOI: 10.1080/10835547.1998.12090072 File-URL: http://hdl.handle.net/10.1080/10835547.1998.12090072 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:6:y:1998:i:2:p:147-150 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090073_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 159-162 Issue: 2 Volume: 6 Year: 1998 Month: 1 X-DOI: 10.1080/10835547.1998.12090073 File-URL: http://hdl.handle.net/10.1080/10835547.1998.12090073 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:6:y:1998:i:2:p:159-162 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090074_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: SHERI FAIRCLOTH Author-X-Name-First: SHERI Author-X-Name-Last: FAIRCLOTH Author-Name: STEVE SWIDLER Author-X-Name-First: STEVE Author-X-Name-Last: SWIDLER Title: The Publishing of Real Estate Articles Within a Finance Department Abstract: A unique data set of 311 professors is employed to examine the relative research productivity between real estate and finance faculty. The results suggest that, on average, real estate faculty within a finance department publish more real estate and finance publications than do their finance colleagues. The results also indicate that publications in top real estate journals increase annual salary by approximately $800. Collected over a twenty-year period, this increment in salary would increase the professor's wealth by more than $10,600. Finally, there is some evidence that real estate faculty are paid less than finance faculty, ceteris paribus, although the results are not statistically significant. Journal: Journal of Real Estate Literature Pages: 111-117 Issue: 2 Volume: 6 Year: 1998 Month: 1 X-DOI: 10.1080/10835547.1998.12090074 File-URL: http://hdl.handle.net/10.1080/10835547.1998.12090074 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:6:y:1998:i:2:p:111-117 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090075_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: NELSON CHAN Author-X-Name-First: NELSON Author-X-Name-Last: CHAN Title: Land-Use Rights in Mainland China: Problems and Recommendations for Improvement Abstract: The Chinese property market is founded on a land use rights (LUR) system that is based on the Hong Kong leasehold system. It was first tested in the Shenzhen Special Economic Zone. The positive result led to the formal revival of the property market in mainland China in 1990. Coupled with the open-door policy, this new tenure system has brought about marked changes to the real estate environment in mainland China. There has been a number of papers about the LUR system. Among the writers, Walker and Li (1994) have written on “Land Use Rights Reform and Real Estate Market in China.” This article is intended to be an extension to Walker and Li's work and focuses on the problems associated with the LUR system. It concludes with recommendations for improvement. Journal: Journal of Real Estate Literature Pages: 53-63 Issue: 1 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090075 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090075 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:1:p:53-63 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090076_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 105-112 Issue: 1 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090076 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090076 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:1:p:105-112 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090077_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: OLGA KAGANOVA Author-X-Name-First: OLGA Author-X-Name-Last: KAGANOVA Title: Russian Home-Building in Transition Abstract: Since 1991, the reform governments of the Russian Federation and its constituent republics have allowed and, in varying degrees, encouraged the privatization of state-owned housing and new residential construction by private firms for private ownership. This study describes the emergence of private home-building enterprises engaged in two types of projects: (1) The completion and sale of multifamily dwellings started during the socialist regime and (2) development and marketing of single-family luxury housing on land at the urban fringe. It is based on surveys of private housing developers and secondary housing markets in seven cities of the Russian Federation, including Moscow and St. Petersburg. The surveys were conducted by Russian consultants in 1993 under the sponsorship of the U.S. Agency for International Development and the World Bank. At the time of the surveys, not all aspects of real estate development were yet conducted under private institutions. The developers' most important functions were arranging project financing from private sources (own funds, homebuyers' prepayments, bank loans) and marketing the dwellings, usually prior to completion. Municipal governments still controlled land allocations for new housing. Municipal enterprises were also responsible for providing access roads and utility connections, using their strategic position to exact fees, which account for a fourth to two-thirds of the total development costs. In Moscow and St. Petersburg, a substantial fraction of the completed dwellings were contractually assigned to the municipality for disposition and, in all places studied, additional units were sold to the developers' employees, suppliers, and city officials at a discount. Conditions that are necessary for further development of market-based home-building include (1) development of more market-oriented land policies by municipalities, (2) development of more rational and feasible fees charged to developers by cities, (3) modernization of utilities in cities, and (4) increasing developers' understanding of importance of market studies. Journal: Journal of Real Estate Literature Pages: 65-76 Issue: 1 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090077 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090077 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:1:p:65-76 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090078_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: MICHAEL LaCOUR-LITTLE Author-X-Name-First: MICHAEL Author-X-Name-Last: LaCOUR-LITTLE Title: Discrimination in Mortgage Lending: A Critical Review of the Literature Abstract: This article surveys the diverse research that examines racial disparities in mortgage lending markets in the context of the fair housing legislation of recent decades. A review of the theoretical models, data, and empirical methods reveals deficiencies in all three areas. A new research agenda focusing on development of more complete models of mortgage lending together with panel data tracking mortgage loan performance over time is needed. Journal: Journal of Real Estate Literature Pages: 15-49 Issue: 1 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090078 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090078 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:1:p:15-49 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090079_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: ROBIN DUBIN Author-X-Name-First: ROBIN Author-X-Name-Last: DUBIN Author-Name: KELLEY PACE Author-X-Name-First: KELLEY Author-X-Name-Last: PACE Author-Name: THOMAS THIBODEAU Author-X-Name-First: THOMAS Author-X-Name-Last: THIBODEAU Title: Spatial Autoregression Techniques for Real Estate Data Abstract: This paper describes how spatial techniques can be used to improve the accuracy of market value estimates obtained using multiple regression analysis. Rather than eliminating the problem of spatial residual dependencies through the inclusion of many independent variables, spatial statistical methods typically keep fewer independent variables and augment these with a simple model of the spatial error dependence. We discuss alternative spatial autoregression model specifications, estimation methods, and prediction procedures. An empirical example is provided in the appendix. Journal: Journal of Real Estate Literature Pages: 79-95 Issue: 1 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090079 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090079 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:1:p:79-95 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090080_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: RICHARD TAY Author-X-Name-First: RICHARD Author-X-Name-Last: TAY Author-Name: CLEMENT LAU Author-X-Name-First: CLEMENT Author-X-Name-Last: LAU Author-Name: MARIE LEUNG Author-X-Name-First: MARIE Author-X-Name-Last: LEUNG Title: The Determination of Rent in Shopping Centers: Some Evidence from Hong Kong Abstract: The purpose of this article is to assess the generality of previous empirical findings on the determinants of retail rent in shopping centers and validate their substantive robustness using data from Hong Kong. Consistent with previous findings, the rental rate of a retail unit is positively related to its customer-generating power and the size of the shopping center but negatively related to its own size. In contrast to previous findings, it is positively associated with chain stores and the age of the shopping center but not significantly related to several provisions in the lease. Journal: Journal of Real Estate Literature Pages: 183-196 Issue: 2 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090080 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090080 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:2:p:183-196 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090081_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: AMY BOGDON Author-X-Name-First: AMY Author-X-Name-Last: BOGDON Author-Name: JAMES FOLLAIN Author-X-Name-First: JAMES Author-X-Name-Last: FOLLAIN Author-Name: JACK GOODMAN Author-X-Name-First: JACK Author-X-Name-Last: GOODMAN Author-Name: DON MANSON Author-X-Name-First: DON Author-X-Name-Last: MANSON Author-Name: SHAUN BRADY Author-X-Name-First: SHAUN Author-X-Name-Last: BRADY Title: Research Applications of the Multifamily Housing Institute's Apartment Database Abstract: Data on the financial performance of multifamily rental housing has not been available nearly as long as such information for single-family housing. It is believed that this lack of information has increased the cost of debt and equity capital to apartment housing and thus has increased the rents paid by apartment residents. Data on apartments, which is now becoming available through an industry-sponsored initiative, has the potential of narrowing this information gap. This article has several objectives: to describe this new database. AptDataTM, to housing researchers to assess the strengths and weaknesses of AptDataTMfor housing market and policy research, to compare estimates from AptDataTMwith those from other sources, and to offer several potential research applications of this new data resource. Journal: Journal of Real Estate Literature Pages: 221-234 Issue: 2 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090081 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090081 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:2:p:221-234 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090082_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: GRANT THRALL Author-X-Name-First: GRANT Author-X-Name-Last: THRALL Title: Demographic Ring Study Reports with GIS Technology Abstract: Market analysis that is performed in support of commercial real estate decisions has long included demographic ring study reports. Recent advancements in Geographic Information Systems (GIS) technology has spilled over to ring-study reporting. Contemporary ring studies have detailed breakdowns of populations by subgroup, include expenditure projections by product category, and are available for purchase for use on desktop computers at under $300. Two ring-study products are contrasted here: Site Reporter from CACI and CensusCD + Maps from GeoLytics. Journal: Journal of Real Estate Literature Pages: 211-217 Issue: 2 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090082 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090082 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:2:p:211-217 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090083_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: RAYMOND TSE Author-X-Name-First: RAYMOND Author-X-Name-Last: TSE Author-Name: Y. CHIANG Author-X-Name-First: Y. Author-X-Name-Last: CHIANG Author-Name: JOHN RAFTERY Author-X-Name-First: JOHN Author-X-Name-Last: RAFTERY Title: Office Property Returns in Shanghai, Guangzhou, and Shenzhen Abstract: Commercial property development in China has been a growth industry in recent years. This article examines the returns on office property in the three major cities of Shanghai, Guangzhou, and Shenzhen in the period 1991 to 1997. Analyses based on the Security Market Line (SML) show that property investments in the office sector in Shanghai and Guangzhou have excess returns and that Shanghai office property tends to dominate the optimal portfolios due to its superior risk-adjusted returns. While equal returns in Shanghai, Guangzhou, and Shenzhen cannot be rejected, the Shanghai office property is subject to the least systematic risk, compared with all other cities. Hong Kong office property is included only in the less risky optimal portfolios. In addition, our results indicate that there is little correlation between the office property returns in Hong Kong and the office property in Guangzhou and Shenzhen. Guangzhou and Shenzhen office markets, which are geographically relatively close to Hong Kong, tend to be more volatile than the Shanghai office market. However, owing to Shenzhen's proximity to Hong Kong, there is significant correlation between the returns of the office property in Shenzhen and the office property in Hong Kong. Journal: Journal of Real Estate Literature Pages: 197-208 Issue: 2 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090083 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090083 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:2:p:197-208 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090084_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: MICHAEL SEILER Author-X-Name-First: MICHAEL Author-X-Name-Last: SEILER Author-Name: JAMES WEBB Author-X-Name-First: JAMES Author-X-Name-Last: WEBB Author-Name: NEIL MYER Author-X-Name-First: NEIL Author-X-Name-Last: MYER Title: Diversification Issues in Real Estate Investment Abstract: Real estate asset management has been and will continue to be a topic of great interest. Specifically, does real estate warrant inclusion in an efficient portfolio? And if so, how much should be invested in real estate? This article reviews the extant literature in the area of real estate diversification and helps identify the reasons that there exists so much divergence in the answer to the question, “How much in real estate?” Moreover, diversification as it relates to real estate is discussed in reference to both mixed-asset portfolios and for diversification within the real estate asset class. Directions for future research are also discussed. Journal: Journal of Real Estate Literature Pages: 163-179 Issue: 2 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090084 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090084 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:2:p:163-179 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090085_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 243-249 Issue: 2 Volume: 7 Year: 1999 Month: 1 X-DOI: 10.1080/10835547.1999.12090085 File-URL: http://hdl.handle.net/10.1080/10835547.1999.12090085 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:7:y:1999:i:2:p:243-249 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090086_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Patrick Wilson Author-X-Name-First: Patrick Author-X-Name-Last: Wilson Author-Name: Piet Du Plessis Author-X-Name-First: Piet Author-X-Name-Last: Du Plessis Author-Name: Juanita Pienaar Author-X-Name-First: Juanita Author-X-Name-Last: Pienaar Title: Land Claims of Indigenous Peoples—The Impact on Property Values: A Comparative Study on South Africa and Australia Abstract: Land and land ownership has been a controversial subject ever since the creation of man. In both South Africa and Australia recent developments regarding land ownership rights have generated added uncertainty in the business community, both domestic and international. This uncertainty is having direct and indirect impacts on property values. This article explores some of the underlying reasons for this uncertainty as well as proffering suggestions as to likely future impacts on property. In doing so, the authors provide background information that may be valuable for international investors assessing the risks associated with property investment in either of these countries. The events in South Africa appear to have had a significant impact on property values whereas the events in Australia appear to have had relatively little, if any, impact on the overall property market. Journal: Journal of Real Estate Literature Pages: 35-56 Issue: 1 Volume: 8 Year: 2000 Month: 1 X-DOI: 10.1080/10835547.2000.12090086 File-URL: http://hdl.handle.net/10.1080/10835547.2000.12090086 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:8:y:2000:i:1:p:35-56 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090087_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Randy Anderson Author-X-Name-First: Randy Author-X-Name-Last: Anderson Author-Name: Danielle Lewis Author-X-Name-First: Danielle Author-X-Name-Last: Lewis Author-Name: Thomas Springer Author-X-Name-First: Thomas Author-X-Name-Last: Springer Title: Operating Efficiencies in Real Estate: A Critical Review of the Literature Abstract: Both the real estate brokerage and the real estate investment trusts (REIT) industries have experienced dramatic structural and institutional changes in the last few years. These changes have brought the issue of operating efficiencies to the forefront. In this article, we summarize and critically review the operating efficiency literature for the real estate industry. In particular, we focus on X-efficiency, economies of scale and economies of scope for the real estate brokerage services market and for REITs. In addition, we attempt to identify future research paths that may extend and improve the current literature on real estate managerial efficiencies. Journal: Journal of Real Estate Literature Pages: 1-18 Issue: 1 Volume: 8 Year: 2000 Month: 1 X-DOI: 10.1080/10835547.2000.12090087 File-URL: http://hdl.handle.net/10.1080/10835547.2000.12090087 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:8:y:2000:i:1:p:1-18 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090088_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stanislaw Belniak Author-X-Name-First: Stanislaw Author-X-Name-Last: Belniak Author-Name: Arthur Schwartz Author-X-Name-First: Arthur Author-X-Name-Last: Schwartz Title: The Nascent Polish Real Estate Market Abstract: During the past ten years, Poland's economy and real estate market have been undergoing the transformation from a centralized, state-controlled system to a free market economy with some vestiges remaining of state ownership. Information about the Polish real estate market is very limited because its infrastructure is not well developed. This article presents an overview of the emerging Polish real estate market drawing on available, albeit limited information. In general, the volume of transactions has increased since 1991 and real estate prices remain below Western European levels. Journal: Journal of Real Estate Literature Pages: 19-33 Issue: 1 Volume: 8 Year: 2000 Month: 1 X-DOI: 10.1080/10835547.2000.12090088 File-URL: http://hdl.handle.net/10.1080/10835547.2000.12090088 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:8:y:2000:i:1:p:19-33 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090089_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Mark Calabria Author-X-Name-First: Mark Author-X-Name-Last: Calabria Title: The Census of Construction Industries Database Abstract: The Census of Construction Industries (CCI) is conducted every five years as part of the quinquennial Economic Census. The CCI covers all establishments with payroll that are engaged primarily in contract construction or construction on their own account for sale as defined in the Standard Industrial Classification Manual. The CCI is a partial census including all multi-establishments and all establishments with payroll above $480,000, one out of every five establishments with payroll between $480,000 and $120,000 and one out of eight remaining establishments. The resulting database contains for each year approximately 200,000 establishments in the building construction, heavy construction and special trade construction industrial classifications. This article compares the content, survey procedures and sample response of the 1982, 1987 and 1992 Censuses of Construction. In addition, it describes the Census Bureau's Economic Census Program, which includes the Census of Construction Industries. Journal: Journal of Real Estate Literature Pages: 161-173 Issue: 2 Volume: 8 Year: 2000 Month: 1 X-DOI: 10.1080/10835547.2000.12090089 File-URL: http://hdl.handle.net/10.1080/10835547.2000.12090089 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:8:y:2000:i:2:p:161-173 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090090_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 181-188 Issue: 2 Volume: 8 Year: 2000 Month: 1 X-DOI: 10.1080/10835547.2000.12090090 File-URL: http://hdl.handle.net/10.1080/10835547.2000.12090090 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:8:y:2000:i:2:p:181-188 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090091_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Daniel Gat Author-X-Name-First: Daniel Author-X-Name-Last: Gat Title: Israel's Housing Market Dynamics: A Tale of Two Sectors Abstract: This article describes the specification, estimation and simulation of a DiPasquale and Wheaton (1996) type stock-flow model of Israeli housing. The model consists of three sets of equations: (1) price determination; (2) private and public housing starts; and (3) housing completions. Calibration, based on a thirty-eight year data set (1960-1997), supports the model's structural hypotheses as well as the specific explanatory variables. The statistical fit and significance are high and the signs are correct. The article has two simulations of the estimated model. The first is an ex ante projection through the year 2010, contingent on continued near zero per-capita income growth. The second simulation re-enacts an especially volatile period in the life of the market, indeed of the country—the unforeseen influx of half a million immigrants, mostly from the erstwhile Soviet Union during 1990-1991. The government responded with direct and heavy involvement. An ex post simulation addresses what may have happened if the public intervention was weak or non-existent. The article also discusses the macroeconomic cost consequences of the public housing initiative. Journal: Journal of Real Estate Literature Pages: 129-152 Issue: 2 Volume: 8 Year: 2000 Month: 1 X-DOI: 10.1080/10835547.2000.12090091 File-URL: http://hdl.handle.net/10.1080/10835547.2000.12090091 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:8:y:2000:i:2:p:129-152 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090092_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jeffrey Guilfoyle Author-X-Name-First: Jeffrey Author-X-Name-Last: Guilfoyle Title: The Effect of Property Taxes on Home Values Abstract: This article examines the theoretical and empirical economic literature of the effects of property taxes on the price of residential housing. The results in the theoretical literature are largely driven by the various modeling assumptions. Therefore, the effect must be measured empirically. Unfortunately, the empirical work has yielded contradictory results. It is unclear if the empirical differences in recent studies are the result of methodological differences or if other factors are at work. The empirical work needs to incorporate additional variables that may be influencing the capitalization effect in an attempt to identify the other factors that may be at work. Journal: Journal of Real Estate Literature Pages: 109-127 Issue: 2 Volume: 8 Year: 2000 Month: 1 X-DOI: 10.1080/10835547.2000.12090092 File-URL: http://hdl.handle.net/10.1080/10835547.2000.12090092 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:8:y:2000:i:2:p:109-127 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090093_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Thrall Author-X-Name-First: Grant Author-X-Name-Last: Thrall Title: Data for Commercial Real Estate Stock and Pipeline Analysis: F. W. Dodge and COMPS.COM Journal: Journal of Real Estate Literature Pages: 153-160 Issue: 2 Volume: 8 Year: 2000 Month: 1 X-DOI: 10.1080/10835547.2000.12090093 File-URL: http://hdl.handle.net/10.1080/10835547.2000.12090093 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:8:y:2000:i:2:p:153-160 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090094_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 47-54 Issue: 1 Volume: 9 Year: 2001 Month: 1 X-DOI: 10.1080/10835547.2001.12090094 File-URL: http://hdl.handle.net/10.1080/10835547.2001.12090094 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:9:y:2001:i:1:p:47-54 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090095_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: K. Chau Author-X-Name-First: K. Author-X-Name-Last: Chau Author-Name: Vincent Ma Author-X-Name-First: Vincent Author-X-Name-Last: Ma Author-Name: Daniel Ho Author-X-Name-First: Daniel Author-X-Name-Last: Ho Title: The Pricing of ‘Luckiness’ in the Apartment Market Abstract: People are willing to pay a premium for a ‘lucky’ property. In a Cantonese prevailing society such as Hong Kong, many people regard the number ‘8’ as lucky since 8 has similar pronunciation as prosperity in Cantonese. Therefore, a lucky floor number is a valuable attribute. Although not all Cantonese are superstitious about the luckiness of the number 8, it is an added benefit that no Cantonese will reject. A hedonic price model is estimated using transaction data during the booms and slumps of the property market. The results show that flats with lucky floor numbers are sold at a significantly higher price during property booms than during property slumps. Journal: Journal of Real Estate Literature Pages: 29-40 Issue: 1 Volume: 9 Year: 2001 Month: 1 X-DOI: 10.1080/10835547.2001.12090095 File-URL: http://hdl.handle.net/10.1080/10835547.2001.12090095 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:9:y:2001:i:1:p:29-40 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090096_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: K. Tyler Miller Author-X-Name-First: K. Author-X-Name-Last: Tyler Miller Title: Subsidized Housing for the Low-Income Functionally Disabled Elderly Abstract: Functionally disabled elderly people are seniors who need the help of another person to perform at least one activity of daily living or instrumental activity of daily living. Recent cutbacks in HUD's budget authority do not bode well for the future of traditional federally subsidized housing programs. If these seniors are to receive affordable housing and services, the time to act politically is now. The typology of current subsidized rental housing options for these seniors is presented as a model to aid current and future planners and policymakers in developing housing options that are affordable to this population. Journal: Journal of Real Estate Literature Pages: 1-28 Issue: 1 Volume: 9 Year: 2001 Month: 1 X-DOI: 10.1080/10835547.2001.12090096 File-URL: http://hdl.handle.net/10.1080/10835547.2001.12090096 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:9:y:2001:i:1:p:1-28 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090097_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Xing Zhang Author-X-Name-First: Xing Author-X-Name-Last: Zhang Title: Risk and Uncertainty in the Chinese Housing Market Abstract: The transition from plan to market has become a dominant theme in Chinese housing policy in the last two decades. A growing body of literature on the process of this transition has been produced. However, the issue of uncertainty in the Chinese housing market has been neglected. The uncertainty and risks are emerging at a number of levels and areas. This article looks at the uncertainty of the Chinese housing market and identifies its consequences for housing consumption, housing production and homeownership. Journal: Journal of Real Estate Literature Pages: 161-172 Issue: 2 Volume: 9 Year: 2001 Month: 1 X-DOI: 10.1080/10835547.2001.12090097 File-URL: http://hdl.handle.net/10.1080/10835547.2001.12090097 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:9:y:2001:i:2:p:161-172 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090098_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Melissa Boyle Author-X-Name-First: Melissa Author-X-Name-Last: Boyle Author-Name: Katherine Kiel Author-X-Name-First: Katherine Author-X-Name-Last: Kiel Title: A Survey of House Price Hedonic Studies of the Impact of Environmental Externalities Abstract: This article reviews existing studies that have used the house price hedonic technique to estimate the prices that consumers are willing to pay for environmental goods such as air quality, water quality, and distance from toxic or potentially toxic sites. We examine whether the results obtained are consistent over the studies, if the estimated prices change over time and what role changes in information play in consumers' behavior. We also discuss what housing and neighborhood variables are included. Finally, we focus on those studies that have included more than one environmental good to see whether multiple measures yield different results. Journal: Journal of Real Estate Literature Pages: 117-144 Issue: 2 Volume: 9 Year: 2001 Month: 1 X-DOI: 10.1080/10835547.2001.12090098 File-URL: http://hdl.handle.net/10.1080/10835547.2001.12090098 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:9:y:2001:i:2:p:117-144 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090099_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stanley McGreal Author-X-Name-First: Stanley Author-X-Name-Last: McGreal Author-Name: Ali Parsa Author-X-Name-First: Ali Author-X-Name-Last: Parsa Author-Name: Ramin Keivani Author-X-Name-First: Ramin Author-X-Name-Last: Keivani Title: Perceptions of Real Estate Markets in Central Europe: A Survey of European Investors Abstract: Globalization of markets has created new opportunities for the development of real estate investment on a cross-border basis. Paralleling wider world processes, the collapse of communism in central and eastern Europe has led to a transformation from command to market-based economies. Poland, the Czech Republic and Hungary have been prominent in this process. This article using the results of a survey of institutions and property companies in the United Kingdom and other European Union countries assesses the extent to which these central European countries are offering investment opportunities in real estate, ten years after the transformation. Journal: Journal of Real Estate Literature Pages: 145-160 Issue: 2 Volume: 9 Year: 2001 Month: 1 X-DOI: 10.1080/10835547.2001.12090099 File-URL: http://hdl.handle.net/10.1080/10835547.2001.12090099 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:9:y:2001:i:2:p:145-160 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090100_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Jackson Author-X-Name-First: Thomas Author-X-Name-Last: Jackson Title: The Effects of Environmental Contamination on Real Estate: A Literature Review Abstract: The literature reviewed in this article reflects the degree to which practitioners and academics are having difficulty in arriving at consistent findings as to the effect of environmental contamination on real estate. The valuation literature in this category deals with appraisal methods, but does not develop a consensus view. The empirical sales price literature is also inconsistent, with disagreement over the existence and magnitude of price impacts, persistence of these impacts and other issues. The article concludes by summarizing the results of these studies with respect to contamination source, effect on sales price, persistence and intervening factors such as strong or weak market conditions. Journal: Journal of Real Estate Literature Pages: 91-116 Issue: 2 Volume: 9 Year: 2001 Month: 1 X-DOI: 10.1080/10835547.2001.12090100 File-URL: http://hdl.handle.net/10.1080/10835547.2001.12090100 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:9:y:2001:i:2:p:91-116 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090101_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen Roulac Author-X-Name-First: Stephen Author-X-Name-Last: Roulac Author-Name: Alastair Adair Author-X-Name-First: Alastair Author-X-Name-Last: Adair Author-Name: Stanley McGreal Author-X-Name-First: Stanley Author-X-Name-Last: McGreal Author-Name: J. Berry Author-X-Name-First: J. Author-X-Name-Last: Berry Author-Name: L. Brown Author-X-Name-First: L. Author-X-Name-Last: Brown Author-Name: G. Heaney Author-X-Name-First: G. Author-X-Name-Last: Heaney Title: Corporate Real Estate: A Profile of the Leading Companies in Ireland Abstract: Real estate as an asset in corporate strategy is relatively under-developed in a European context compared to the experience in the United States. In particular, there is an underestimation of real estate interests and effects on property costs and shareholder value. This article reports on work in progress regarding a survey of the top 100 companies operating within Ireland in terms of their characteristics and corporate real estate strategy. Inward investment from the U.S. to Ireland is highlighted. Initial findings show that real estate performs a largely traditional role within organizations but distinctive differences are apparent between indigenous and externally parented companies notably those from the U.S. Journal: Journal of Real Estate Literature Pages: 93-108 Issue: 1 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090101 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090101 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:1:p:93-108 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090102_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: James Frew Author-X-Name-First: James Author-X-Name-Last: Frew Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 145-152 Issue: 1 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090102 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090102 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:1:p:145-152 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090103_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jonathan Dombrow Author-X-Name-First: Jonathan Author-X-Name-Last: Dombrow Author-Name: Geoffrey Turnbull Author-X-Name-First: Geoffrey Author-X-Name-Last: Turnbull Title: Individuals and Institutions Publishing Research in Real Estate—1989-1998 Abstract: This article ranks individuals and institutions according to their publications in eight academic journals from 1989 through 1998. The results imply that the most prolific individuals tend to extensively coauthor papers. The rankings vary significantly over each five-year subperiod, yet the results identify a fairly small group of individuals who consistently dominate the top ranks during the decade examined. The results also identify a small group of authors who continue to exhibit relatively high publishing performance in the individual journals over more than two decades. This article also ranks institutions using authors' contemporaneous and current affiliations. Surprisingly, most of the top fifty institutions are so ranked regardless of the affiliation method used, suggesting that they either enjoy long term stability in their research personnel or tend to replace departing faculty with equally productive individuals. Journal: Journal of Real Estate Literature Pages: 45-92 Issue: 1 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090103 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090103 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:1:p:45-92 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090104_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Graeme Newell Author-X-Name-First: Graeme Author-X-Name-Last: Newell Author-Name: Ting Hwa Author-X-Name-First: Ting Author-X-Name-Last: Hwa Author-Name: Peter Acheampong Author-X-Name-First: Peter Author-X-Name-Last: Acheampong Title: Listed Property Trusts in Malaysia Abstract: Malaysia was the first Asian country to develop listed property trusts as an effective indirect real estate investment vehicle in 1989. This article presents an overview of the development of the listed property trust sector in Malaysia, with performance analysis over 1991-2000. Local structural and regulatory factors are identified that have contributed to the slow development and poor performance of property trusts in Malaysia. Strategies are articulated that would contribute to the ongoing development of the property trust sector as an effective indirect real estate investment vehicle in Malaysia, as well as in other Asian countries, such as Japan, Singapore and Korea. Journal: Journal of Real Estate Literature Pages: 109-118 Issue: 1 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090104 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090104 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:1:p:109-118 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090105_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 137-144 Issue: 1 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090105 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090105 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:1:p:137-144 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090106_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Aalberts Author-X-Name-First: Robert Author-X-Name-Last: Aalberts Author-Name: Anthony Townsend Author-X-Name-First: Anthony Author-X-Name-Last: Townsend Title: Real Estate Transactions, the Internet and Personal Jurisdiction Abstract: The World Wide Web and the Internet are beginning to exert enormous influence on how real estate transactions are conducted. Real estate professionals are now subject to new challenges and opportunities since they may now market their services to potentially millions of prospective clients in multiple jurisdictions. However, the ability to transcend state boundaries may expose them to a potentially complex and important procedural legal issue: personal jurisdiction. Personal jurisdiction regulates where a plaintiff can sue a defendant in a civil case. This article discusses the concept and policies underlying personal jurisdiction, how the law is evolving in cyberbusiness, and how this may apply to real estate professionals engaged in multi-state activities. Journal: Journal of Real Estate Literature Pages: 27-44 Issue: 1 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090106 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090106 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:1:p:27-44 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090107_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Luis Mejia Author-X-Name-First: Luis Author-X-Name-Last: Mejia Author-Name: John Benjamin Author-X-Name-First: John Author-X-Name-Last: Benjamin Title: What Do We Know About the Determinants of Shopping Center Sales? Spatial vs. Non-Spatial Factors Abstract: This literature review shows that recent studies are interested in the argument that non-spatial factors are as important to shopping center patronage as spatial factors. Understanding the effect of non-spatial factors on shopping center sales is important for at least three reasons: (1) non-spatial factors increase retailer differentiation in competitive retail markets; (2) they promote brand identity as retailers develop alternative non-store retail formats; and (3) they represent a source of shopping center intangible value. This review confirms that new empirical and theoretical efforts to model the non-spatial inter-store externalities, assess the trade-off between spatial and non-spatial factors, and measure the interactive retail image/mix effect would be particularly valuable. Journal: Journal of Real Estate Literature Pages: 1-26 Issue: 1 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090107 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090107 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:1:p:1-26 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090108_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Y. Raymond Author-X-Name-First: Y. Author-X-Name-Last: Raymond Author-Name: James Webb Author-X-Name-First: James Author-X-Name-Last: Webb Title: The Effectiveness of a Web Strategy for Real Estate Brokerage Abstract: This study examines empirically the impact of information technology on real estate brokerage in Hong Kong using regression models to investigate how page “views” on the Internet affect real estate transactions and commissions. The results are also examined using an error-correction model. Journal: Journal of Real Estate Literature Pages: 119-130 Issue: 1 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090108 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090108 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:1:p:119-130 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090109_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Thrall Author-X-Name-First: Grant Author-X-Name-Last: Thrall Title: Update to Data Resources for Real Estate and Business Geography Analysis (JREL, 9:2) Journal: Journal of Real Estate Literature Pages: 295-304 Issue: 2 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090109 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090109 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:2:p:295-304 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090110_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Graeme Newell Author-X-Name-First: Graeme Author-X-Name-Last: Newell Author-Name: Peter Acheampong Author-X-Name-First: Peter Author-X-Name-Last: Acheampong Author-Name: Piet Plessis Author-X-Name-First: Piet Author-X-Name-Last: Plessis Title: The Real Estate Markets in South Africa Abstract: South Africa has undergone significant political, social, and economic change in the last ten years, as it has emerged from the apartheid era. This article presents an overview and analysis of the South African real estate market over the 1980-99 period, including overall performance analysis, an assessment of the portfolio diversification benefits of real estate, and performance analysis in the post-apartheid period of 1994-99. The future outlook for the South African economy and real estate market is also critically assessed. Journal: Journal of Real Estate Literature Pages: 279-294 Issue: 2 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090110 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090110 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:2:p:279-294 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090111_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Lay Lim Author-X-Name-First: Lay Author-X-Name-Last: Lim Author-Name: Alastair Adair Author-X-Name-First: Alastair Author-X-Name-Last: Adair Author-Name: Stanley McGreal Author-X-Name-First: Stanley Author-X-Name-Last: McGreal Title: Capital Flows into the Singapore Real Estate Market: An Analysis of the Land Sales Program Abstract: The free flow of trade and investment is an important feature of Singapore's economy. The inflow of foreign investment has contributed significantly to the rate of development, with the real estate sector playing a distinct role in enhancing Singapore's status and in attracting multi-national companies to establish their regional headquarters. Singapore's Land Sales Program has played a significant role in this process, the analysis of which provides a basis for tracking sources and volumes of investment flows into the Singapore property market. Using capital contributions from shareholders of property companies active in the Land Sales Program, this study examines the origin and magnitude of Foreign Direct Investment (FDI) flows into the Singapore real estate market. The analysis indicates that there is a low level of capital flows from Europe and North America to the Southeast Asia region whereas Asian investors play an important role in terms of foreign investment flows into the Singapore real estate market. Journal: Journal of Real Estate Literature Pages: 263-277 Issue: 2 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090111 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090111 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:2:p:263-277 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090112_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John McDonald Author-X-Name-First: John Author-X-Name-Last: McDonald Title: A Survey of Econometric Models of Office Markets Abstract: The construction of a disastrous oversupply of office space in the late 1980s created a strong need for better methods for analyzing and forecasting office markets. This article examines the econometric forecasting models that have been developed. Substantial progress has been made in measuring and understanding office markets and in modeling office development decisions. The studies indicate that development of office space had been based on myopic expectations of market value, and this was a chief source of overbuilding. Practitioners are now aware of the cyclical nature of office markets, and have better information at their disposal than in the 1980s. Journal: Journal of Real Estate Literature Pages: 223-242 Issue: 2 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090112 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090112 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:2:p:223-242 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090113_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 311-318 Issue: 2 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090113 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090113 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:2:p:311-318 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090114_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Campbell Author-X-Name-First: Robert Author-X-Name-Last: Campbell Title: Shareholder Wealth Effects in Equity REIT Restructuring Transactions: Sell-offs, Mergers and Joint Ventures Abstract: The restrictions of the institutional environment for Equity Real Estate Investment Trusts (EREITS) causes major restructuring to be a more important aspect of strategic planning for EREITs than it is for other firms. This study examines the literature regarding four major categories of EREIT restructuring activity: (1) sell-offs of property; (2) mergers with other REITs; (3) mergers with privately-held entities; and (4) joint ventures. The wealth effects of these forms of restructuring in REITs are different from those observed in conventional corporations. The EREIT's use of the Umbrella Partnership REIT (UPREIT) form of organization is also examined, because it is closely related to the firm's restructuring strategy. Journal: Journal of Real Estate Literature Pages: 205-222 Issue: 2 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090114 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090114 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:2:p:205-222 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090115_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Leonard Zumpano Author-X-Name-First: Leonard Author-X-Name-Last: Zumpano Title: The Possible Consequences of Bank Entry into the Real Estate Brokerage Market: What the Research Tells Us Abstract: This article examines the extant literature on real estate brokerage to identify and assess the possible consequences of allowing financial holding companies and financial subsidiaries of national banks entry into the real estate brokerage market. Specifically, this study addresses three areas of concern: the effects of bank entry on competition within this market, the impact on market efficiency, and how entry may affect the type and quality of services provided to consumers. Given what is known about the nature of this market, the findings indicate that bank-provided real estate brokerage services should only be permitted if advocates can offer compelling evidence that the potential benefits outweigh the risks to the consumer. Journal: Journal of Real Estate Literature Pages: 243-262 Issue: 2 Volume: 10 Year: 2002 Month: 1 X-DOI: 10.1080/10835547.2002.12090115 File-URL: http://hdl.handle.net/10.1080/10835547.2002.12090115 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:10:y:2002:i:2:p:243-262 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090116_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Frederick Pretorius Author-X-Name-First: Frederick Author-X-Name-Last: Pretorius Author-Name: Anthony Walker Author-X-Name-First: Anthony Author-X-Name-Last: Walker Author-Name: K Chau Author-X-Name-First: K Author-X-Name-Last: Chau Title: Exploitation, Expropriation and Capital Assets: The Economics of Commercial Real Estate Leases Abstract: This study reviews commercial real estate leases as one transaction form to finance corporate capital assets. Credit risk is common to leases and debt as substitute transactions; but the two credit forms generate different transaction costs and agency conflicts, and thus differential pricing. Causal relationships resulting in explicit options in leases reflect complex agency considerations, which complicate the application of current option pricing principles to value the options. In general, it seems as if lease pricing phenomena are poorly researched. This article aims to identify where more narrowly demarcated research could assist in unraveling lease pricing behavior. Journal: Journal of Real Estate Literature Pages: 1-34 Issue: 1 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090116 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090116 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:1:p:1-34 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090117_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Thrall Author-X-Name-First: Grant Author-X-Name-Last: Thrall Title: Update to Data Resources for Real Estate and Business Geography Analysis Journal: Journal of Real Estate Literature Pages: 47-56 Issue: 1 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090117 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090117 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:1:p:47-56 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090118_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: James Larsen Author-X-Name-First: James Author-X-Name-Last: Larsen Title: Current Journals Journal: Journal of Real Estate Literature Pages: 81-132 Issue: 1 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090118 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090118 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:1:p:81-132 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090119_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Y Raymond Author-X-Name-First: Y Author-X-Name-Last: Raymond Author-Name: Dominique Fischer Author-X-Name-First: Dominique Author-X-Name-Last: Fischer Title: Estimating Natural Vacancy Rates in Office Markets Using a Time-Varying Model Abstract: This study presents estimates of a time-varying, dynamic adjustment model of the office market using time series data from Hong Kong, Sydney, Perth and London. It aims to demonstrate that the natural vacancy rate of office property can be fitted into a time-varying framework. The model innovates in considering the stochastic nature of natural vacancy rates. The data shows that the stationary component of natural vacancy rates tends to differ across cities. Journal: Journal of Real Estate Literature Pages: 35-46 Issue: 1 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090119 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090119 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:1:p:35-46 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090120_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 63-72 Issue: 1 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090120 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090120 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:1:p:63-72 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090121_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 211-218 Issue: 2 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090121 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090121 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:2:p:211-218 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090122_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John McDonald Author-X-Name-First: John Author-X-Name-Last: McDonald Author-Name: Daniel McMillen Author-X-Name-First: Daniel Author-X-Name-Last: McMillen Title: Costs and Benefits of Land Use Regulations: A Theoretical Survey Abstract: This article presents a survey of standard microeconomic models that are designed to be used in the cost-benefit analysis of local land use decisions at the individual parcel or block level. The models connect these policy decisions to outcomes in the urban land and labor markets so that costs and benefits can be measured. Journal: Journal of Real Estate Literature Pages: 157-176 Issue: 2 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090122 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090122 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:2:p:157-176 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090123_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Thrall Author-X-Name-First: Grant Author-X-Name-Last: Thrall Title: Update to Data Resources for Real Estate and Business Geography Analysis Journal: Journal of Real Estate Literature Pages: 195-204 Issue: 2 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090123 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090123 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:2:p:195-204 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090124_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Danny Ben-Shahar Author-X-Name-First: Danny Author-X-Name-Last: Ben-Shahar Title: A Performance Comparison between Dwellings and Financial Assets in Israel Abstract: Focusing on Israeli data from January 1990 to December 2000, this study finds that the annual average return on a diversified investment in stocks is approximately two and four times greater than that on diversified dwelling and bond portfolios, respectively. When considering the embedded risk, however, the dwelling portfolio is found to generally outperform the stock and bond investments. The dwelling portfolio is also found to substantially reduce the risk embedded in the optimal investment portfolio. Moreover, additional diversification with the S&P 500 Index generates further considerable expansion of the efficient frontier. Finally, in contrast to the other asset portfolios, the dwelling portfolio provides a highly positive hedge against actual, expected and unexpected inflation. Journal: Journal of Real Estate Literature Pages: 177-194 Issue: 2 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090124 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090124 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:2:p:177-194 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090125_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stacy Sirmans Author-X-Name-First: Stacy Author-X-Name-Last: Sirmans Author-Name: David Macpherson Author-X-Name-First: David Author-X-Name-Last: Macpherson Title: The State of Affordable Housing Abstract: Affordable housing encompasses a substantial body of literature on a number of issues such as housing policy, affordable housing supply, barriers to homeownership, measuring affordability and housing goals. Some major conclusions from the literature are: (1) housing programs should be tailored to local housing conditions; (2) minorities and immigrants are less likely to be homeowners even after controlling for income; (3) the number one housing problem is the lack of affordable housing for extremely low-income households; (4) a major impediment to homeownership is a lack of home buying and credit knowledge; (5) a major affordability indicator is housing cost burden (proportion of income paying for housing); (6) pension investors reject affordable housing due to the low rate of return and too few projects; and (7) survey respondents are willing to live in housing built on cleaned-up brownfields. Journal: Journal of Real Estate Literature Pages: 131-156 Issue: 2 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090125 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090125 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:2:p:131-156 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090126_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nico Rottke Author-X-Name-First: Nico Author-X-Name-Last: Rottke Author-Name: Martin Wernecke Author-X-Name-First: Martin Author-X-Name-Last: Wernecke Author-Name: Arthur, Jr Schwartz Author-X-Name-First: Arthur, Jr Author-X-Name-Last: Schwartz Title: Real Estate Cycles in Germany—Causes, Empirical Analysis and Recommendations for the Management Decision Process Abstract: Unlike in the United States or the United Kingdom, research on real estate cycles in Germany exists only to a limited extent. Therefore, this article has three objectives: (1) to briefly introduce the unfamiliar reader to the theory of real estate cycles; (2) to empirically analyze the observable and quantifiable variables of the German office market and to make an attempt to validate the cyclical behavior of the German real estate market; and (3) to present recommendations for the management decision process based on theoretical causes and empirical analysis. Journal: Journal of Real Estate Literature Pages: 325-346 Issue: 3 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090126 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090126 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:3:p:325-346 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090127_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 361-366 Issue: 3 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090127 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090127 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:3:p:361-366 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090128_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Thrall Author-X-Name-First: Grant Author-X-Name-Last: Thrall Title: Update to Data Resources for Real Estate and Business Geography Analysis Journal: Journal of Real Estate Literature Pages: 347-354 Issue: 3 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090128 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090128 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:3:p:347-354 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090129_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Patrick Wilson Author-X-Name-First: Patrick Author-X-Name-Last: Wilson Author-Name: Ralf Zurbruegg Author-X-Name-First: Ralf Author-X-Name-Last: Zurbruegg Title: International Diversification of Real Estate Assets: Is It Worth It? Evidence from the Literature Abstract: This study examines the literature on the benefits of diversifying property assets internationally. There is no consensus on how much benefit can be derived from the global diversification of property. In the literature there are two contrasting opinions as to the level of integration global property markets have and the advantages there are from holding international property assets. The findings show that there are mixed outcomes irrespective of whether direct or indirect property assets are being examined. This study also provides some insights into more recent developments in the literature that might explain some of the diverse opinions that have been formed. Journal: Journal of Real Estate Literature Pages: 257-278 Issue: 3 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090129 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090129 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:3:p:257-278 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090130_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John Benjamin Author-X-Name-First: John Author-X-Name-Last: Benjamin Author-Name: Emily Zietz Author-X-Name-First: Emily Author-X-Name-Last: Zietz Author-Name: Stacy Sirmans Author-X-Name-First: Stacy Author-X-Name-Last: Sirmans Title: The Environment and Performance of Industrial Real Estate Abstract: This study examined over seventy industrial real estate research papers and categorized them according to: 1) property characteristics, 2) demand determinants, 3) rent and income determinants, 4) return and valuation issues, 5) environmental concerns, 6) international issues, and 7) management and financing concerns. The findings indicate that industrial properties tend to be segmented and clustered by use with greater demand for flexibility and smaller size, yet with reduced demand for warehouse space. Employment, age, and percentage of office space affect industrial rents while industrial land values indicate future rental rates. In addition, local market factors, physical characteristics and location affect industrial property values, but environmental contamination has an adverse effect. Journal: Journal of Real Estate Literature Pages: 279-324 Issue: 3 Volume: 11 Year: 2003 Month: 1 X-DOI: 10.1080/10835547.2003.12090130 File-URL: http://hdl.handle.net/10.1080/10835547.2003.12090130 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:11:y:2003:i:3:p:279-324 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090131_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Lawrence Chin Author-X-Name-First: Lawrence Author-X-Name-Last: Chin Author-Name: Jiafeng Liu Author-X-Name-First: Jiafeng Author-X-Name-Last: Liu Title: Risk Management in Real Estate Electronic Transactions Abstract: In the recent past, both consumers and real estate service providers have increasingly used the Internet to improve trading effectiveness and efficiency in the real estate market. Although Internet usage has reached phenomenal levels, the pure real estate electronic transaction, where the process is totally completed through the Internet, is still very much in its infancy. This indicates that significant barriers and risks remain in applying this kind of technology. This paper develops a model to optimize the risk management of real estate electronic transactions and suggests methods to control the risks inherent in these transactions. Journal: Journal of Real Estate Literature Pages: 51-66 Issue: 1 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090131 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090131 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:1:p:51-66 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090132_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Y Raymond Author-X-Name-First: Y Author-X-Name-Last: Raymond Author-Name: James Webb Author-X-Name-First: James Author-X-Name-Last: Webb Title: Hong Kong Housing and the Asian Financial Crisis Abstract: This study investigates the effect of the Asian Financial Crisis, capital flows, speculative demand and retail sales activity on housing transactions in Hong Kong. An error correction model and Granger causality tests were used to examine the interaction between house prices, retail sales and housing transactions. The asymmetric effects of capital flows on housing transactions were also examined. Journal: Journal of Real Estate Literature Pages: 19-32 Issue: 1 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090132 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090132 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:1:p:19-32 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090133_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tung-Leong Chin Author-X-Name-First: Tung-Leong Author-X-Name-Last: Chin Author-Name: K Chau Author-X-Name-First: K Author-X-Name-Last: Chau Author-Name: F Ng Author-X-Name-First: F Author-X-Name-Last: Ng Title: The Impact of the Asian Financial Crisis on the Pricing of Condominiums in Malaysia Abstract: This study found that the pricing of condominium units in Malaysia became more rational after the Asian Financial Crisis (AFC). Analysis of condominium transactions in Penang suggests that the same set of housing attributes explained more variation in prices after the AFC. This suggests that there were more noise trading activities in the market before the AFC. One of the few positive effects of the AFC is the reduction in the number of noise traders in the property market. In addition, the results also suggest that larger units suffered a greater decline in price then smaller units after the AFC. Journal: Journal of Real Estate Literature Pages: 33-50 Issue: 1 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090133 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090133 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:1:p:33-50 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090134_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 73-76 Issue: 1 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090134 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090134 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:1:p:73-76 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090135_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Edwin Mills Author-X-Name-First: Edwin Author-X-Name-Last: Mills Title: Progress in Urban Spatial Analysis: Existence, Sizes and Spatial Organization of Urban Areas Abstract: This article is a survey of the current state of urban spatial analysis; what has been learned in the past forty years and what interesting problems remain. Three topics are covered—reasons for the existence of urban areas, spatial organization of urban areas and their sizes. Journal: Journal of Real Estate Literature Pages: 1-18 Issue: 1 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090135 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090135 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:1:p:1-18 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090136_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Zeynep Önder Author-X-Name-First: Zeynep Author-X-Name-Last: Önder Author-Name: Vedia Dökmeci Author-X-Name-First: Vedia Author-X-Name-Last: Dökmeci Author-Name: Berna Keskin Author-X-Name-First: Berna Author-X-Name-Last: Keskin Title: The Impact of Public Perception of Earthquake Risk on Istanbul's Housing Market Abstract: This paper examines the impact of public perception of earthquake risk on Istanbul's housing market by investigating the spatial distribution of the average house values and the changes in average house prices in Istanbul between 1995 and 2000. Soil type and distance to the fault lines in the Sea of Marmara are used as proxies for public perception of earthquake risk. The results of regression analysis show that distance from fault lines is an important factor in explaining house values and its impact on house values increased after the 1999 Kocaeli earthquake. Furthermore, there is a quadratic relationship between soil type and house values. However, none of the measures of earthquake risk significantly affect the change in house values. These findings suggest that public perception of earthquake risk enhanced and the public information about earthquake hazard had significant impact on house values. Journal: Journal of Real Estate Literature Pages: 181-194 Issue: 2 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090136 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090136 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:2:p:181-194 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090137_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 223-228 Issue: 2 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090137 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090137 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:2:p:223-228 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090138_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen Roulac Author-X-Name-First: Stephen Author-X-Name-Last: Roulac Author-Name: Alastair Adair Author-X-Name-First: Alastair Author-X-Name-Last: Adair Author-Name: Neil Crosby Author-X-Name-First: Neil Author-X-Name-Last: Crosby Author-Name: Lay Lim Author-X-Name-First: Lay Author-X-Name-Last: Lim Author-Name: Craig Watkins Author-X-Name-First: Craig Author-X-Name-Last: Watkins Author-Name: Peadar Davis Author-X-Name-First: Peadar Author-X-Name-Last: Davis Title: The Emerging Global Real Estate Appraisal Research Agenda: Evidence from the ARES, ERES, PPRES and RICS Conferences Abstract: This paper addresses the emerging global real estate appraisal research agenda by examining and comparing the contents of research papers presented at the 1993-2001 American Real Estate Society, European Real Estate Society, Pacific Rim Real Estate Society and RICS Cutting Edge conferences. The study indicates that interest in appraisal is significant, as measured by the number of papers delivered and the wide diversity of topics represented. Clearly appraisal themes such as finance and computer-based modeling predominate and generate greater interest than more regional or local areas of research activity. The challenge facing real estate professionals and organizations is to harness the increasingly rigorous and internationally evolving appraisal research agenda to the benefit of the discipline. Journal: Journal of Real Estate Literature Pages: 133-156 Issue: 2 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090138 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090138 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:2:p:133-156 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090139_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tien Sing Author-X-Name-First: Tien Author-X-Name-Last: Sing Author-Name: Seow Ong Author-X-Name-First: Seow Author-X-Name-Last: Ong Title: Residential Mortgage-Backed Securitization in Asia: The Singapore Experience Abstract: Securitizing residential mortgages has been used effectively to manage mortgage related risks like interest rate risks, credit risks, funding risks and sector concentration risks by financial institutions in many Asian countries. However, in Singapore, development of the residential mortgage-backed securitization (RMBS) market has been slow, despite strong support from the government of Singapore via revising securitization guidelines and making changes to policies that are favorable for RMBS development. Currently, an excess supply of liquidity and a perceived loss in the long-term relationship with the existing mortgagors/clients are the two main barriers to banks in securitizing their residential mortgages. Journal: Journal of Real Estate Literature Pages: 157-180 Issue: 2 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090139 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090139 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:2:p:157-180 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090140_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 229-234 Issue: 2 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090140 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090140 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:2:p:229-234 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090141_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Title: The Influence of Socioeconomic Conditions on the U.S. Internet Office Market Abstract: This paper focuses on the Internet as a resource in the fulfillment of companies' needs to lease or buy office space in the United States. A measure of this Internet use is introduced by two indexes that consider the companies' preferences and the office stock in states and cities. The results indicate that the Internet is utilized more for leasing than for selling office properties. Moreover, relationships are defined between the introduced indexes and local socioeconomic characteristics. Economic variables such as employment, Finance Insurance and Real Estate and high tech employment, firm size and income have significant effect on the Internet office leases and sales. Journal: Journal of Real Estate Literature Pages: 195-222 Issue: 2 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090141 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090141 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:2:p:195-222 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090142_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Andrew Allen Author-X-Name-First: Andrew Author-X-Name-Last: Allen Author-Name: Tatyana Ovsyannikova Author-X-Name-First: Tatyana Author-X-Name-Last: Ovsyannikova Author-Name: Denis Prazukin Author-X-Name-First: Denis Author-X-Name-Last: Prazukin Author-Name: Elaine Worzala Author-X-Name-First: Elaine Author-X-Name-Last: Worzala Title: The Development of a Residential Real Estate Market in Russia Abstract: The housing market in Russia has shifted from one in which the government produced most housing units to one in which the private market produces most units. This research examines the state of the housing market in the Tomsk region, located in the center of Russia. Because of the lack of functional mortgage markets, families must save enough money to finance the full purchase price of the housing unit. This research determines how much savings is available for a typical Tomsk family and how long it will take them to save enough money to buy a housing unit. Journal: Journal of Real Estate Literature Pages: 361-362 Issue: 3 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090142 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090142 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:3:p:361-362 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090143_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 395-400 Issue: 3 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090143 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090143 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:3:p:395-400 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090144_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: James Frew Author-X-Name-First: James Author-X-Name-Last: Frew Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 405-412 Issue: 3 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090144 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090144 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:3:p:405-412 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090145_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 401-404 Issue: 3 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090145 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090145 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:3:p:401-404 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090146_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: C Yiu Author-X-Name-First: C Author-X-Name-Last: Yiu Author-Name: C Tam Author-X-Name-First: C Author-X-Name-Last: Tam Title: A Review of Recent Empirical Studies on Property Price Gradients Abstract: This paper reviews the empirical studies that have been conducted on property price gradients. There are basically two different methodologies of estimation and three different assumptions on the spatial structure of an urban area. The two methods are: (1) the hedonic pricing model and (2) the repeat-sales model; and the three assumptions are: (1) the monocentric assumption; (2) the non-monocentric/polycentric assumption; and (3) no a priori assumption about the urban spatial structure. The methodologies and the findings of these previous studies are compared and analyzed to clarify the path for further studies. Journal: Journal of Real Estate Literature Pages: 305-322 Issue: 3 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090146 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090146 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:3:p:305-322 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090147_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Emily Zietz Author-X-Name-First: Emily Author-X-Name-Last: Zietz Author-Name: Stacy Sirmans Author-X-Name-First: Stacy Author-X-Name-Last: Sirmans Title: An Exploration of Inner-City Property Markets Abstract: A growing interest in the revitalization and development of inner-city property is evidenced by the number of articles that are appearing in the real estate and finance literature. This article examines over eighty academic and industry publications and groups the studies into five areas: (1) the development and demand for public and inner-city housing; (2) urban growth, sprawl and housing mobility; (3) financing and subsidization of inner-city housing; (4) price, rent gap and affordability concerns; and (5) gentrification and displacement in inner-city areas. Results indicate that interest in these unique properties will likely continue for many years; however, positive returns from the revitalization efforts will likely require government intervention. Journal: Journal of Real Estate Literature Pages: 323-360 Issue: 3 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090147 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090147 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:3:p:323-360 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090148_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Thrall Author-X-Name-First: Grant Author-X-Name-Last: Thrall Author-Name: Brandon Smith Author-X-Name-First: Brandon Author-X-Name-Last: Smith Title: International Real Estate and Business Geographic Data Journal: Journal of Real Estate Literature Pages: 375-394 Issue: 3 Volume: 12 Year: 2004 Month: 1 X-DOI: 10.1080/10835547.2004.12090148 File-URL: http://hdl.handle.net/10.1080/10835547.2004.12090148 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:12:y:2004:i:3:p:375-394 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090149_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Clare Eriksson Author-X-Name-First: Clare Author-X-Name-Last: Eriksson Author-Name: Alastair Adair Author-X-Name-First: Alastair Author-X-Name-Last: Adair Author-Name: Stanley McGreal Author-X-Name-First: Stanley Author-X-Name-Last: McGreal Author-Name: James Webb Author-X-Name-First: James Author-X-Name-Last: Webb Title: Harmonization of Investment Valuation Standards in Europe Abstract: The harmonization of valuation standards in Europe is attracting increasing interest from several sources, but little empirical research has been undertaken on the subject. This study reports the findings of an investigation across four European countries. The focus is placed upon arguments relating to the possible implementation of harmonized standards, a comparison of national standards and an evaluation of The European Group of Valuation Associations (TEGOVA) standards. The findings show that the harmonization of valuation standards has been limited by lack of awareness and the reluctance of valuers to use standards other than their own national standards. The importance of the harmonization process is discussed along with the need for TEGOVA to take a more proactive role of promoting the use of common standards. Journal: Journal of Real Estate Literature Pages: 45-64 Issue: 1 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090149 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090149 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:1:p:45-64 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090150_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Rickard Enström Author-X-Name-First: Rickard Author-X-Name-Last: Enström Author-Name: Christina Gustafsson Author-X-Name-First: Christina Author-X-Name-Last: Gustafsson Author-Name: Bo Söderberg Author-X-Name-First: Bo Author-X-Name-Last: Söderberg Title: The Swedish Property Index and its Usefulness for Research Abstract: This study presents the extensive dataset that has been created by the Swedish Property Index, SFI/IPD. The paper focuses on the general usefulness and availability of the SFI/IPD dataset for research purposes within property performance, management, operation and appraisal. Important dataset variables are discussed, possible research topics are outlined and some illustrative empirical analyses are presented. Furthermore, a brief review of property indices and related literature is presented. Journal: Journal of Real Estate Literature Pages: 65-80 Issue: 1 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090150 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090150 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:1:p:65-80 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090151_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 89-94 Issue: 1 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090151 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090151 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:1:p:89-94 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090152_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 83-88 Issue: 1 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090152 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090152 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:1:p:83-88 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090153_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Thrall Author-X-Name-First: Grant Author-X-Name-Last: Thrall Title: Real Estate and Business Geographic Data Now On The Net Journal: Journal of Real Estate Literature Pages: 81-82 Issue: 1 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090153 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090153 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:1:p:81-82 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090154_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stacy Sirmans Author-X-Name-First: Stacy Author-X-Name-Last: Sirmans Author-Name: David Macpherson Author-X-Name-First: David Author-X-Name-Last: Macpherson Author-Name: Emily Zietz Author-X-Name-First: Emily Author-X-Name-Last: Zietz Title: The Composition of Hedonic Pricing Models Abstract: A house is made up of many characteristics, all of which may affect its value. Hedonic regression analysis is typically used to estimate the marginal contribution of these individual characteristics. This study provides a review of recent studies that have used hedonic modeling to estimate house prices. The findings indicate that slanted versus flat roof, sprinkler system, garden bath, separate shower stall, double oven and gated community positively affect selling price while not having attic space, living in an earthquake zone, proximity to a hog farm, proximity to a landfill, proximity to high voltage lines, corporate-owned properties, percentage of Blacks or Hispanics in an area and properties that require flood insurance negatively affect selling price. Journal: Journal of Real Estate Literature Pages: 1-44 Issue: 1 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090154 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090154 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:1:p:1-44 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090155_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: James Frew Author-X-Name-First: James Author-X-Name-Last: Frew Title: Book Review Journal: Journal of Real Estate Literature Pages: 95-98 Issue: 1 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090155 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090155 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:1:p:95-98 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090156_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen Malpezzi Author-X-Name-First: Stephen Author-X-Name-Last: Malpezzi Author-Name: Susan Wachter Author-X-Name-First: Susan Author-X-Name-Last: Wachter Title: The Role of Speculation in Real Estate Cycles Abstract: This paper develops and simulates a model to examine whether land speculation is primarily a cause of, or a symptom of, property cycles. The model suggests that the volatility of prices—the biggest purported downside of “speculation”—is strongly related to supply conditions. Moreover, while demand conditions in general, and speculation in particular, contribute to boom and bust cycles in housing and real estate markets, the impact of speculation is dominated by the effect of the price elasticity of supply. In fact, the large impacts of speculation are only observed when supply is inelastic. Journal: Journal of Real Estate Literature Pages: 141-164 Issue: 2 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090156 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090156 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:2:p:141-164 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090157_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Rich Fortin Author-X-Name-First: Rich Author-X-Name-Last: Fortin Author-Name: Stuart Michelson Author-X-Name-First: Stuart Author-X-Name-Last: Michelson Title: The Tax Impacts of Home Mortgage Refinancing: An Analysis and a Model Abstract: This paper provides pertinent information for investors about refinancing their mortgages. It discusses the input variables and how to compute the breakeven number of months when deciding to refinance a mortgage. Interest rate tax effects that are normally ignored by investors when making their refinancing decision are incorporated. A number of scenarios are provided that vary the mortgage amount, term and interest rate. Depending on the term and interest rate, the breakeven varies from two to six years for a $200,000 mortgage and from two and a half years to ten years for a $100,000 mortgage. When considering the value of the lost interest deduction, the number of months required to breakeven increases by about 50%. An Excel model was developed to perform this analysis. Journal: Journal of Real Estate Literature Pages: 189-202 Issue: 2 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090157 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090157 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:2:p:189-202 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090158_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: James Frew Author-X-Name-First: James Author-X-Name-Last: Frew Title: Book Review Journal: Journal of Real Estate Literature Pages: 215-220 Issue: 2 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090158 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090158 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:2:p:215-220 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090159_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 209-214 Issue: 2 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090159 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090159 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:2:p:209-214 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090160_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Steven Bourassa Author-X-Name-First: Steven Author-X-Name-Last: Bourassa Author-Name: Martin Hoesli Author-X-Name-First: Martin Author-X-Name-Last: Hoesli Author-Name: Jian Sun Author-X-Name-First: Jian Author-X-Name-Last: Sun Title: The Price of Aesthetic Externalities Abstract: This paper explores the prices of three aesthetic externalities (a water view, the appearance of nearby improvements, and the quality of landscaping in the neighborhood). The focus is on how the implicit prices of such characteristics change with the residential real estate cycle. Residential sales for 1986 to 1996 from Auckland, Christchurch and Wellington are examined. The findings suggest that implicit prices of the aesthetic externalities move with the real estate cycle. The findings also indicate that the percentage premiums for water views are greatest in Christchurch, which has the smallest percentage of properties with water views, and lowest in Wellington, which has the highest percentage of properties with views. An understanding of the impacts of aesthetic externalities is important for the valuation of residential properties.This article is the winner of the Real Estate Valuation manuscript prize (sponsored by The Appraisal Institute) presented at the 2004 American Real Estate Society Annual Meeting. Journal: Journal of Real Estate Literature Pages: 165-188 Issue: 2 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090160 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090160 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:2:p:165-188 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090161_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 203-208 Issue: 2 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090161 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090161 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:2:p:203-208 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090162_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John McDonald Author-X-Name-First: John Author-X-Name-Last: McDonald Title: The Q Theory of Investment, the Capital Asset Pricing Model and Real Estate Valuation: A Synthesis Abstract: This paper combines Tobin's Q theory of real investment with the capital asset pricing model to produce a new and relatively simple procedure for the valuation of real estate assets using the income approach. Applications of the method are provided. Journal: Journal of Real Estate Literature Pages: 269-286 Issue: 3 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090162 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090162 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:3:p:269-286 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090163_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michel Baroni Author-X-Name-First: Michel Author-X-Name-Last: Baroni Author-Name: Fabrice Barthélémy Author-X-Name-First: Fabrice Author-X-Name-Last: Barthélémy Author-Name: Mahdi Mokrane Author-X-Name-First: Mahdi Author-X-Name-Last: Mokrane Title: Real Estate Prices: A Paris Repeat Sales Residential Index Abstract: This paper offers an alternative methodology to estimate an index for Paris residential housing prices: the now standard repeat sales method (Case and Shiller, 1987). The same dataset as the official Notaires/INSEE Index is employed, and after discussing the main assumptions and their implications for estimation robustness, the estimated index for the 1982-2002 period is compared with the Notaires/INSEE Index. The findings indicate that the estimation is quite robust whatever the estimation period, and that this index is significantly different from the official residential index for Paris. Journal: Journal of Real Estate Literature Pages: 303-322 Issue: 3 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090163 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090163 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:3:p:303-322 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090164_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 363-366 Issue: 3 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090164 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090164 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:3:p:363-366 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090165_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Olga Kaganova Author-X-Name-First: Olga Author-X-Name-Last: Kaganova Author-Name: Fawzi Al-Sultan Author-X-Name-First: Fawzi Author-X-Name-Last: Al-Sultan Author-Name: John Speakman Author-X-Name-First: John Author-X-Name-Last: Speakman Title: Overview of Real Estate Markets in Kuwait Abstract: This paper provides insights on the real estate market in Kuwait. A number of market distortions and imbalances are identified and their likely implications for the economy are discussed. The dynamics of prices on land and various types of completed buildings are also discussed. It argues that the high prices typical for single-family houses and some non-residential properties are driven up by: (1) high effective demand from families for investment outlets; (2) high social value attached to living in detached houses, which is supported by the current governmental housing policy; and (3) limited access to non-residential land by the private sector. The conditions for private investment in non-residential development, including existing constraints for non-Kuwaitis and international developer/investors, are also reviewed. Journal: Journal of Real Estate Literature Pages: 287-302 Issue: 3 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090165 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090165 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:3:p:287-302 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090166_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: K. Chau Author-X-Name-First: K. Author-X-Name-Last: Chau Author-Name: S. Wong Author-X-Name-First: S. Author-X-Name-Last: Wong Author-Name: C. Yiu Author-X-Name-First: C. Author-X-Name-Last: Yiu Author-Name: H. Leung Author-X-Name-First: H. Author-X-Name-Last: Leung Title: Real Estate Price Indices in Hong Kong Abstract: This paper reviews and compares various existing price index sources in Hong Kong, which is known to be one of the most active real estate markets in the world. It also introduces a new source of transaction-based price index constructed using the repeat sales method. This new index series is not only useful for local real estate practitioners and investors, but it also provides a platform for researchers to study general issues related to the measurement of direct real estate returns. With the availability of such a rich set of data, more rigorous empirical studies can be conducted to enhance our understanding of the behavior of the direct real estate market, as well as the properties of price indices computed by different methods. Journal: Journal of Real Estate Literature Pages: 337-356 Issue: 3 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090166 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090166 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:3:p:337-356 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090167_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Randy Anderson Author-X-Name-First: Randy Author-X-Name-Last: Anderson Author-Name: Bradley Hobbs Author-X-Name-First: Bradley Author-X-Name-Last: Hobbs Author-Name: Shelton Weeks Author-X-Name-First: Shelton Author-X-Name-Last: Weeks Author-Name: James Webb Author-X-Name-First: James Author-X-Name-Last: Webb Title: Quality of Care and Nursing Home Cost-Efficiency Research Abstract: A significant problem with examining efficiency and performance in the nursing home industry is an implicit assumption of quality homogeneity. Cost data are typically regressed against output, measured in bed days, without explicit recognition of the effects of quality on cost structures. Regulatory agencies at both the federal and state levels collect, process and provide proxy quality measures that can be incorporated into nursing home cost-efficiency analyses. Available sources for quality information are presented along with a discussion of the potential problems in measuring quality in a nursing home setting. Specific suggestions are made for dealing with inherent weaknesses in quality data. Journal: Journal of Real Estate Literature Pages: 323-336 Issue: 3 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090167 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090167 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:3:p:323-336 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090168_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 357-362 Issue: 3 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090168 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090168 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:3:p:357-362 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090169_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: James Frew Author-X-Name-First: James Author-X-Name-Last: Frew Title: Book Review Journal: Journal of Real Estate Literature Pages: 367-372 Issue: 3 Volume: 13 Year: 2005 Month: 1 X-DOI: 10.1080/10835547.2005.12090169 File-URL: http://hdl.handle.net/10.1080/10835547.2005.12090169 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:13:y:2005:i:3:p:367-372 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090170_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen Roulac Author-X-Name-First: Stephen Author-X-Name-Last: Roulac Title: Extra! Extra!! Read All About It: Real Estate Ethics Performance Trumps Corporate America!!! Abstract: This article reports the results of a survey of American Real Estate Society members that was designed to investigate both the importance attached to ethical considerations and the performance on various components of ethics of the corporate world and the real estate sector. The results of the survey show that the respondents think that the real estate sector has performed better than the corporate sector at improving ethical performance along five dimensions: trust, fiduciary duty, competence, disclosure and integrity. Journal: Journal of Real Estate Literature Pages: 1-26 Issue: 1 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090170 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090170 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:1:p:1-26 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090171_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: James Frew Author-X-Name-First: James Author-X-Name-Last: Frew Title: Book Review Journal: Journal of Real Estate Literature Pages: 101-106 Issue: 1 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090171 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090171 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:1:p:101-106 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090172_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Christian Focke Author-X-Name-First: Christian Author-X-Name-Last: Focke Title: The Development of German Open-Ended Real Estate Funds Abstract: In Germany, open-ended real estate funds have faced the highest cash inflows in their history turning them into a major player on the German market. At the same time, on the regulatory side, the “Fourth Financial Markets Promotion Act” significantly increased the possibilities for German funds to invest internationally. This paper examines the history, construction and characteristics of German open-ended real estate funds. They are compared to other forms of indirect real estate investment and the most important improvements brought about by the Fourth Financial Markets Promotion Act are described. Fund managers in the future will increase the percentage of their portfolios invested abroad, increasing the importance of German open-ended real estate funds. Journal: Journal of Real Estate Literature Pages: 39-56 Issue: 1 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090172 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090172 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:1:p:39-56 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090173_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 87-92 Issue: 1 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090173 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090173 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:1:p:87-92 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090174_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Marcus Cieleback Author-X-Name-First: Marcus Author-X-Name-Last: Cieleback Title: The Rental Dynamics of the West German Market for Newly Built Apartments Abstract: Internationally, Germany has a low owner-occupation rate of approximately 43%. Therefore, the rented apartment sector is traditionally of great importance. Nevertheless, only a limited number of empirical studies for the German apartment sector exist. This study provides insight into the rental dynamics of the market for newly built apartments by examining the factors that influence rental change. The empirical results show that the real rental growth of newly built apartments is influenced by income growth, migration patterns and past growth in real construction costs. The results also support the assumption of a backward looking expectation formation process from the developers when applying for a building permit and the structurally higher rental growth rate in southern Germany. Journal: Journal of Real Estate Literature Pages: 27-38 Issue: 1 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090174 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090174 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:1:p:27-38 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090175_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 93-100 Issue: 1 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090175 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090175 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:1:p:93-100 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090176_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Title: Terrorism Protection and Prevention Measures for Office Buildings Abstract: The events of September 11, 2001 in the United States have changed the perspective of owners and management companies towards the security of office buildings. The initial reaction, which included general security measures with an unclear prevention role, is continuously being replaced by improved and more thorough decision-making process of prevention measures targeting specific types of threats. This paper proposes a layered approach for the protection and prevention against terrorism attacks on office buildings and the development of a city-wide Property Anti-Terrorism Taskforce, which will increase the cross-collaboration between real estate and law enforcement and emergency management agencies, while strategically preparing owners and property managers. Journal: Journal of Real Estate Literature Pages: 57-86 Issue: 1 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090176 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090176 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:1:p:57-86 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090177_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John McDonald Author-X-Name-First: John Author-X-Name-Last: McDonald Title: Market Value Websites: How Good Are They? Journal: Journal of Real Estate Literature Pages: 223-230 Issue: 2 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090177 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090177 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:2:p:223-230 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090178_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 231-236 Issue: 2 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090178 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090178 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:2:p:231-236 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090179_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Gjin Biba Author-X-Name-First: Gjin Author-X-Name-Last: Biba Author-Name: François Des Rosiers Author-X-Name-First: François Author-X-Name-Last: Des Rosiers Author-Name: Marius Theriault Author-X-Name-First: Marius Author-X-Name-Last: Theriault Author-Name: Paul Villeneuve Author-X-Name-First: Paul Author-X-Name-Last: Villeneuve Title: Big Boxes versus Traditional Shopping Centers: Looking At Households' Shopping Trip Patterns Abstract: In this paper, the competition between, on the one hand, regional and super-regional shopping centers and, on the other hand, “category killers” and “big boxes” is analyzed using discrete choice modeling (logistic regression). An extensive Origin-Destination phone survey in the Quebec Metropolitan Area in 2001 provides detailed information on both households' socioeconomic and demographic profiles and daily trip patterns, making it is possible to identify and model customers' shopping destination choices. The findings suggest that several trip and household attributes impact customers' choice for either big boxes or traditional shopping centers: trip purpose, transportation mode and car ownership, day of the week, departure time and place as well as trip length and, finally, respondent's gender, age and type of household. Journal: Journal of Real Estate Literature Pages: 173-202 Issue: 2 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090179 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090179 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:2:p:173-202 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090180_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 237-242 Issue: 2 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090180 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090180 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:2:p:237-242 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090181_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Musil Author-X-Name-First: Thomas Author-X-Name-Last: Musil Title: Book Review Journal: Journal of Real Estate Literature Pages: 243-248 Issue: 2 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090181 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090181 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:2:p:243-248 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090182_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joseph Ooi Author-X-Name-First: Joseph Author-X-Name-Last: Ooi Author-Name: Graeme Newell Author-X-Name-First: Graeme Author-X-Name-Last: Newell Author-Name: Tien-Foo Sing Author-X-Name-First: Tien-Foo Author-X-Name-Last: Sing Title: The Growth of REIT Markets in Asia Abstract: Real Estate Investment Trusts (REITs) emerged in Asia in 2001, with Japan and Singapore as the market leaders. South Korea, Taiwan, Hong Kong and Malaysia have also launched REITs. This paper examines these REIT markets. The paper first examines the background of macroeconomic, financial market and real estate market development. The driving forces for REIT development on the supply and demand sides, government initiatives and market obstacles are also discussed. The initial performance of Asia REITs will be reviewed and contrasted with the common stocks in the respective markets. Finally, the future prospects of Asia REITs are assessed. Journal: Journal of Real Estate Literature Pages: 203-222 Issue: 2 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090182 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090182 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:2:p:203-222 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090183_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Patric Hendershott Author-X-Name-First: Patric Author-X-Name-Last: Hendershott Author-Name: Robert Hendershott Author-X-Name-First: Robert Author-X-Name-Last: Hendershott Author-Name: Bryan MacGregor Author-X-Name-First: Bryan Author-X-Name-Last: MacGregor Title: Evidence on Rationality in Commercial Property Markets: An Interpretation and Critique Abstract: Periodic sharp sustained increases and then reversals in asset prices lead many to posit irrational price bubbles. The general case for irrationality is that real asset prices simply have moved too much given the future real cash flows the assets are reasonably likely to produce. A specific argument for property is that observed mean reversion in real cash flows has not been reflected in investor valuations, resulting in asset values being too high when real cash flows were high and vice versa. This study interprets, critiques and extends existing analyses of movements in real commercial property prices during the late 1980s and early 1990s. Journal: Journal of Real Estate Literature Pages: 147-172 Issue: 2 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090183 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090183 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:2:p:147-172 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090184_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: G. Stacy Sirmans Author-X-Name-First: G. Stacy Author-X-Name-Last: Sirmans Author-Name: Randy Dumm Author-X-Name-First: Randy Author-X-Name-Last: Dumm Title: Title Insurance: An Historical Perspective Abstract: This study presents the historical background of title insurance, along with the industry's current problems, and discusses the literature on title insurance. In general, the literature on title insurance has been in five broad categories: (1) the importance and function of title insurance in real estate transactions; (2) the characteristics of title insurance and the title industry; (3) the historical evolution of title insurance; (4) the performance of the title industry (including loss ratios); and (5) the problems associated with the title industry. Journal: Journal of Real Estate Literature Pages: 291-320 Issue: 3 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090184 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090184 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:3:p:291-320 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090185_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: William McCluskey Author-X-Name-First: William Author-X-Name-Last: McCluskey Author-Name: Arthur Grimes Author-X-Name-First: Arthur Author-X-Name-Last: Grimes Author-Name: Andrew Aitken Author-X-Name-First: Andrew Author-X-Name-Last: Aitken Author-Name: Suzi Kerr Author-X-Name-First: Suzi Author-X-Name-Last: Kerr Author-Name: Jason Timmins Author-X-Name-First: Jason Author-X-Name-Last: Timmins Title: Rating Systems in New Zealand: An Empirical Investigation into Local Choice Abstract: Local governments in New Zealand raise approximately 60% of revenue from property taxes to fund the delivery of local services. With local government given the legislative power to choose the basis of their property tax, this research provides empirical insight into variations between local governments and the property tax system employed. As several local authorities have opted over the last twenty years to change their rating system, the paper investigates if there are factors common to those authorities that could help explain these shifts. The research uncovers a pattern that relates the choice of rating system to the level of mean income within local authorities. Some tentative conclusions and implications are suggested both for New Zealand local public finance and for the use of property, and particularly land taxes more broadly. Journal: Journal of Real Estate Literature Pages: 381-398 Issue: 3 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090185 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090185 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:3:p:381-398 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090186_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Boris Portnov Author-X-Name-First: Boris Author-X-Name-Last: Portnov Author-Name: Larissa Fleishman Author-X-Name-First: Larissa Author-X-Name-Last: Fleishman Author-Name: Yakov Odish Author-X-Name-First: Yakov Author-X-Name-Last: Odish Title: Changes and Modifications in Residential Neighborhoods as a Factor of Housing Pricing: Jerusalem and Haifa as Case Studies Abstract: Households may undertake housing changes and modifications (HCMs) for two basic reasons: increasing property value and gaining personal utility. In environmentally unfavorable or physically deteriorated neighborhoods, in which no substantial price gain can be expected, HCMs may be motivated mainly by improving personal utility, rather than by maximizing return on HCMs. As a result, in such neighborhoods relatively little accumulation of HCMs may occur. To verify this hypothesis, eight residential neighborhoods in two large cities in Israel, Jerusalem and Haifa, were analyzed. The incidence of HCMs was found to be related to neighborhood and building characteristics, while the amount of accumulated post-occupancy HCMs helped to explain the variation of selling prices of apartments and houses. Journal: Journal of Real Estate Literature Pages: 345-380 Issue: 3 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090186 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090186 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:3:p:345-380 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090187_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 427-432 Issue: 3 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090187 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090187 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:3:p:427-432 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090188_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: C. Y. Yiu Author-X-Name-First: C. Y. Author-X-Name-Last: Yiu Author-Name: B. S. Tang Author-X-Name-First: B. S. Author-X-Name-Last: Tang Author-Name: Y. H. Chiang Author-X-Name-First: Y. H. Author-X-Name-Last: Chiang Author-Name: L. H. T. Choy Author-X-Name-First: L. H. T. Author-X-Name-Last: Choy Title: Alternative Theories of Appraisal Bias Abstract: This paper reviews the literature on appraisal bias and summarizes three hypotheses for systematic bias: behavior contention, options-value, and different-base-of-valuation. A case study based in Hong Kong is presented that portrays empirical evidence of appraisal bias in land premiums. Land premium appraisals are analyzed because they can help keep the depreciation factor constant and provide good pairs of transaction price and estimate. These appraisals are collected from published estimates, which eliminate the client-agent heuristic. Among the 343 appraisals of land premiums for 109 auctions of land in Hong Kong from 1991 to 1999, evidence of an 8% systematic appraisal downward bias is found in appraisers' estimates against the final bid prices. Although it can be explained plausibly by appraiser-behavior contention, there is also empirical evidence supporting the other two hypotheses. Journal: Journal of Real Estate Literature Pages: 321-344 Issue: 3 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090188 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090188 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:3:p:321-344 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090189_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Musil Author-X-Name-First: Thomas Author-X-Name-Last: Musil Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 433-440 Issue: 3 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090189 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090189 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:3:p:433-440 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090190_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Title: Recovering From an External Economic Shock: The Effect of Terrorism Threat on Chicago “Trophy” Buildings and Their Immediate Area Abstract: This paper studies the extent of the office market recovery of the shadow (immediate) areas of three Chicago trophy buildings (Sears Tower, Aon Center, and John Hancock Center) comparing before and after September 11, 2001 (9/11) office market trends from 1997 until 2005. The results indicate that these three areas have not yet fully recovered almost five years after 9/11 based on their direct and sublease vacancy rates. Controlling for all three shadow area fixed effects, sublease vacancies after 9/11 increased on average by 84% and direct vacancies increased by 69%. In contrast, there is no statistical difference between the before and after 9/11 rent levels for all three shadow areas. Journal: Journal of Real Estate Literature Pages: 399-422 Issue: 3 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090190 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090190 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:3:p:399-422 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090191_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 423-426 Issue: 3 Volume: 14 Year: 2006 Month: 1 X-DOI: 10.1080/10835547.2006.12090191 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090191 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:14:y:2006:i:3:p:423-426 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090192_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Chris Manning Author-X-Name-First: Chris Author-X-Name-Last: Manning Author-Name: James Webb Author-X-Name-First: James Author-X-Name-Last: Webb Author-Name: Mauricio Rodriguez Author-X-Name-First: Mauricio Author-X-Name-Last: Rodriguez Author-Name: Donald Epley Author-X-Name-First: Donald Author-X-Name-Last: Epley Author-Name: Graeme Newell Author-X-Name-First: Graeme Author-X-Name-Last: Newell Author-Name: Stephen Roulac Author-X-Name-First: Stephen Author-X-Name-Last: Roulac Author-Name: John McDonald Author-X-Name-First: John Author-X-Name-Last: McDonald Title: Writing For Publication to Ensure Tenure and Promotion for Real Estate Faculty Abstract: Planning and accomplishing a publishable research agenda is part of a successful academic real estate researcher's career. This manuscript reports the insights and advice offered by seven people in the real estate field on how to make important contributions to the real estate literature. These people are all highly respected real estate researchers with many papers in prestigious academic journals to their credit. All have been recognized for their important leadership and contributions to the real estate field. These people were asked to offer advice and insights to those pursuing academic tenure and promotion wanting to make important contributions to the real estate literature, while taking advantage of the opportunities available to them by networking with academic scholars and practicing professionals worldwide. Journal: Journal of Real Estate Literature Pages: 1-36 Issue: 1 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2006.12090192 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090192 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:1:p:1-36 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090193_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Martin Hoesli Author-X-Name-First: Martin Author-X-Name-Last: Hoesli Author-Name: Camilo Moreno Author-X-Name-First: Camilo Author-X-Name-Last: Moreno Title: Securitized Real Estate and its Link with Financial Assets and Real Estate: An International Analysis Abstract: This paper provides cross-country evidence of the link between securitized real estate and stocks, bonds, and direct real estate. First, the behavior of betas in sixteen countries is examined and then the causes of their variation are identified. Second, securitized real estate returns are regressed on “pure” stock, bond, and real estate factors. The betas are generally found to decrease over the 1990-2004 period, but the causes for such decline differ across countries. Securitized real estate returns are found to be positively associated with stock and direct real estate returns, but negatively related to bond returns. Financial assets contribute greatly to the variance of securitized real estate, while the impact of direct real estate is limited. However, a large fraction of the variance is not accounted for by these factors, especially in the United States, which suggests that other factors are at play. Journal: Journal of Real Estate Literature Pages: 57-84 Issue: 1 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2006.12090193 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090193 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:1:p:57-84 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090194_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tom Norwegian Author-X-Name-First: Tom Author-X-Name-Last: Norwegian Title: A Heterodox Economic Analysis of the Housing Market Structure in Budapest Using Neural Network Classification Abstract: The development of the housing markets in different European metropolitan areas is of high interest for the urban development and the real estate markets, which are about to globalize. The Budapest housing market is well-suited for scrutiny from an institutional and evolutionary perspective due to its fragmented nature: different house types, age categories, price levels, and micro-locations, are found side by side. Applying two neural network techniques, namely the self-organizing map (the SOM) and the learning vector quantification (the LVQ), sheds some light about how physical and socio-demographic characteristics, price, and regulation are inter-related in this market. Journal: Journal of Real Estate Literature Pages: 85-124 Issue: 1 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2006.12090194 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090194 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:1:p:85-124 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090195_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 145-150 Issue: 1 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2006.12090195 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090195 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:1:p:145-150 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090196_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 139-144 Issue: 1 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2006.12090196 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090196 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:1:p:139-144 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090197_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Musil Author-X-Name-First: Thomas Author-X-Name-Last: Musil Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 151-158 Issue: 1 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2006.12090197 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090197 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:1:p:151-158 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090198_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joseph Rabianski Author-X-Name-First: Joseph Author-X-Name-Last: Rabianski Author-Name: Karen Gibler Author-X-Name-First: Karen Author-X-Name-Last: Gibler Title: Office Market Demand Analysis and Estimation Techniques: A Literature Review, Synthesis and Commentary Abstract: Judgmental or applied office demand analyses have appeared in the literature for the past forty years. First, using office demand to population ratios, researchers moved to more comprehensive forecasting models that estimate segmented office demand from a growing set of variables. Although estimating equations now better reflect the underlying factors that create demand, improvements are needed in estimating office demand using employment; vacancy rates; demand for specialized office space; submarket overlap and competition; changes in supply resulting from obsolescence, conversion, and demolition; and improvement in primary data collection. Additional empirical work is also needed to verify which refinements to the model significantly improve the accuracy of the estimating equations. Journal: Journal of Real Estate Literature Pages: 37-56 Issue: 1 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2006.12090198 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090198 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:1:p:37-56 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090199_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John Cirincione Author-X-Name-First: John Author-X-Name-Last: Cirincione Author-Name: Sam Bacharach Author-X-Name-First: Sam Author-X-Name-Last: Bacharach Title: Data Standards and Service Standards: Helping Businessesin Real Estate, Mortgage, Appraisal, and Related Industries Function More Efficiently Abstract: Much work is being accomplished globally in many industries to standardize data and online services. Benefits of standards include decreased operational costs, increased employee and workplace productivity, improved accuracy, more open exchange of information, increased flexibility, reduced risk, and more real-time transactions. This article discusses the standardization efforts of four standards bodies working on information technology standards to benefit the real estate market and related markets such as mortgage, property valuation, architecture, engineering and construction markets. These standards bodies are the Appraisal Institute, Mortgage Industry Standards Maintenance Organization, Open Standards Consortium for Real Estate, and the Open Geospatial Consortium. The article also addresses each organization's interoperability focus, some of key areas of collaboration, and where they see convergence occurring. Journal: Journal of Real Estate Literature Pages: 125-138 Issue: 1 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2006.12090199 File-URL: http://hdl.handle.net/10.1080/10835547.2006.12090199 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:1:p:125-138 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090200_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Musil Author-X-Name-First: Thomas Author-X-Name-Last: Musil Title: Book Review Journal: Journal of Real Estate Literature Pages: 319-322 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090200 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090200 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:319-322 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090201_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John McDonald Author-X-Name-First: John Author-X-Name-Last: McDonald Title: Rebuilding New Orleans: Editor's Introduction Abstract: The Review Articles section of this issue is devoted to real estate issues involved in rebuilding New Orleans in the wake of Hurricane Katrina. This introductory essay describes the recent economic history of the New Orleans metropolitan area and its central city. Compared to Chicago in 1871 and San Francisco in 1906 at the time of their disasters, the economy of New Orleans was stagnant when the hurricane struck. Rebuilding has proceeded very slowly. The essay also sets out some fundamental economic issues in rebuilding the city. The flood control system must be repaired and upgraded because its failure to perform as expected was found to be responsible for most of the flooding. A simple economic model is introduced to show that, if the optimal flood control system is put into place and other critical public services are restored, the private sector will rebuild New Orleans at the economically optimal scale. Additional research is needed to make the simple model more realistic. Journal: Journal of Real Estate Literature Pages: 197-212 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090201 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090201 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:197-212 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090202_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tsoyu Lin Author-X-Name-First: Tsoyu Author-X-Name-Last: Lin Title: The Development of REIT Markets and Real Estate Appraisal in Taiwan Abstract: This study introduces the development of real estate appraisal and investment securitization in Taiwan, and then explores the appropriate appraisal approaches and relative significant characteristics during the process of real estate securitization. Questionnaires were distributed to real estate appraisal experts, including certified appraisers and researchers in Taiwan. Results show that the income approach is the first priority for appraisal during the process of real estate securitization, followed by the sales comparison approach and then the cost approach. As for impact factors, location, tenants, growth prospects, and property markets are the four main criteria influencing capitalization rates on which most appraisal professionals will focus in Australia, U.S., Canada, U.K., and Taiwan. The findings may enable practitioners and researchers in the international appraisal field to establish uniform valuation standards, especially for real estate securitization. Journal: Journal of Real Estate Literature Pages: 281-300 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090202 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090202 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:281-300 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090203_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John Baen Author-X-Name-First: John Author-X-Name-Last: Baen Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Title: The New Orleans-Katrina Case for New Federal Policies and Programs for High-Risk Areas Abstract: This paper reviews the federal government's programs and policies and how these policies encourage urban growth in areas having relatively high risk potential for recurring natural disasters. While Federal Emergency Management Agency (FEMA) and local authorities respond to emergency situations during crisis events, this paper explores the concept that such disasters, and additional emerging loss of life and property, could be avoided through changes in current federal government programs and policies. A cycle of federal programs which perpetuates urbanization of high-risk areas (hurricane, flood, and earthquake areas) is offered as well as insight on residential value trends of previously flooded areas highlighting that building or rebuilding in areas which place the public or public tax payer funds at greater financial risks does not exceed the long-term benefits. Journal: Journal of Real Estate Literature Pages: 229-252 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090203 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090203 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:229-252 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090204_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 315-318 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090204 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090204 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:315-318 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090205_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John Kilpatrick Author-X-Name-First: John Author-X-Name-Last: Kilpatrick Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Title: The Aftermath of Katrina: Recommendations for Real Estate Research Abstract: This paper provides an overview of government and independent research conducted in the wake of Hurricane Katrina in an effort to highlight additional areas in need of study. In addition to the overview of natural disasters and their impact on the United States, the aftermath of the San Francisco earthquake and the actions taken by the government, the local and private sector is also highlighted as providing some lessons learned but maybe forgotten in the wake of Hurricane Katrina. Journal: Journal of Real Estate Literature Pages: 213-228 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090205 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090205 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:213-228 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090206_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Eddie Hui Author-X-Name-First: Eddie Author-X-Name-Last: Hui Author-Name: Joe Wong Author-X-Name-First: Joe Author-X-Name-Last: Wong Title: The Impact of Supply of Subsidized Sale Flats on Private Housing Prices in Hong Kong Abstract: This paper investigates the impact of supply of subsidized sale flats on private housing prices in Hong Kong, and their cause-and-effect relationships. Using quarterly data for 1978-2003, the results show that private property prices move independently of the supply of subsidized sale flats and that such supply does not “Granger cause” private housing prices. The study also found evidence that the cessation has not restored the market or resulted in any increase in housing prices. The demand or prices in the private sector is not influenced by the implementation of the moratorium nor does the production and sale of subsidized sale flats pose a direct threat to the private sector in Hong Kong. Finally, the regression analysis shows that the stock of private domestic accommodation, transaction volume of private residential flats, household income, and unemployment rate are important in explaining property market behavior. Journal: Journal of Real Estate Literature Pages: 253-280 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090206 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090206 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:253-280 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090207_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John Cirincione Author-X-Name-First: John Author-X-Name-Last: Cirincione Title: Integrating Real Estate Property Information Data Standards into Financial Business Processes Abstract: This paper explores the requirements and solutions for integration of real estate property information data standards into financial industry business processes, and the necessity of adoption. Most business processes do not benefit from open data standards because they are locked within proprietary systems. A commitment to adopt open data standards has the potential to leverage current Information Technology (IT) investments with dramatic improvement in unforeseen ways. However, with data standards, other factors related to technical interoperability, understanding of a given business process, and education are crucial for optimum success. This paper addresses how the Mortgage Industry Standards Maintenance Organization (MISMO) operates with the mission to develop, promote, and maintain open specifications for real estate information as a data standards body to facilitate business processes more efficiently. Journal: Journal of Real Estate Literature Pages: 301-308 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090207 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090207 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:301-308 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090208_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 309-314 Issue: 2 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090208 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090208 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:2:p:309-314 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090209_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Lawrence Estaville Author-X-Name-First: Lawrence Author-X-Name-Last: Estaville Title: GIS and Colleges of Business: A Curricular Exploration Abstract: Geographic information systems (GIS) have become a powerful research and operations tool in the world of business, especially in real estate. However, few geography departments in the United States combine the fundamentals of business curricula with their most important geospatial technique—GIS. This study explores whether colleges of business in institutions of higher education in the U.S. incorporate GIS courses into their curricula to ensure that graduates have a better comprehension of spatial analysis in business endeavors. From a sample of 140 public and private institutions across the country, this study identified only five colleges of business that include GIS courses in their curricula. Journal: Journal of Real Estate Literature Pages: 441-448 Issue: 3 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090209 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090209 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:3:p:441-448 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090210_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sean Salter Author-X-Name-First: Sean Author-X-Name-Last: Salter Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 449-454 Issue: 3 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090210 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090210 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:3:p:449-454 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090211_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael Anikeeff Author-X-Name-First: Michael Author-X-Name-Last: Anikeeff Author-Name: John Benjamin Author-X-Name-First: John Author-X-Name-Last: Benjamin Author-Name: Peter Chinloy Author-X-Name-First: Peter Author-X-Name-Last: Chinloy Author-Name: Isaac Megbolugbe Author-X-Name-First: Isaac Author-X-Name-Last: Megbolugbe Title: Healthcare Real Estate: Excess Capacity and Growing Costs Abstract: An apparent paradox is the coexistence of excess demand by patients for medical services and excess supply by hospital and nursing home providers. The vacancy rate of licensed hospital and nursing home beds has been rising even as the total number of beds and hospitals has been declining as rates are regulated. This paper examines alternative explanations for this paradox. One explanation is that since providers receive similar rates from public and private insurers and other third-party payers regardless of quality, the healthcare sector effectively operates as a price-regulated industry. There is an incentive to carry excess capacity. A second is that the separation of capital and operating budgets leads to added construction even if unnecessary or redundant. A third explanation is that excess capacity is a convenience with an option value that allows patients and providers to have staff and hospital beds available at any time and location. Journal: Journal of Real Estate Literature Pages: 353-382 Issue: 3 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090211 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090211 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:3:p:353-382 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090212_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Laura IUAV—Venice Author-X-Name-First: Laura Author-X-Name-Last: IUAV—Venice Title: Italian Property Funds: Opportunities for Investors Abstract: The Italian property investment market is in its infancy. The IPD Italian index only has five years of data and the transparency of the market, although improving rapidly, has historically been poor. In the last ten years, the Italian market has seen an explosion in property funds. The Italian property investment market was initially limited due to prescriptive and inflexible laws, but there was a substantial change in 2003/2004, when the Italian Government introduced new laws to facilitate property investment. As a result, property fund returns have been strong and positive, particularly in comparison to stocks and shares. This paper reviews the current situation in Italy and comments upon the opportunities, and problems, for real estate investors in Italy. Journal: Journal of Real Estate Literature Pages: 397-428 Issue: 3 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090212 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090212 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:3:p:397-428 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090213_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Raymond Tse Author-X-Name-First: Raymond Author-X-Name-Last: Tse Author-Name: K Man Author-X-Name-First: K Author-X-Name-Last: Man Author-Name: L Choy Author-X-Name-First: L Author-X-Name-Last: Choy Title: The Impact of Housing and Financial Wealth on Household Consumption: Evidence from Hong Kong Abstract: Housing is the most important single investment for most individual investors. Thus, the equity of housing capital would have a major psychological impact on the homeowners through a consumption effect. This study explores the wealth effect of housing and stock markets in Hong Kong. Taking into account the factors of money supply and interest rate, the results show that there is a long-term equilibrium relationship between household consumption and the changes in housing wealth. This effect appears to be more significant than that associated with changes in financial wealth. Journal: Journal of Real Estate Literature Pages: 429-440 Issue: 3 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090213 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090213 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:3:p:429-440 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090214_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 455-460 Issue: 3 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090214 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090214 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:3:p:455-460 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090215_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: William Hardin Author-X-Name-First: William Author-X-Name-Last: Hardin Author-Name: Kartono Liano Author-X-Name-First: Kartono Author-X-Name-Last: Liano Author-Name: Kam Chan Author-X-Name-First: Kam Author-X-Name-Last: Chan Title: A Citation Proportions Evaluation of Real Estate Research Abstract: The citation proportions methodology is used to evaluate real estate as a separate academic discipline and to rank the influence of real estate journals. The research confirms the influence of the top business-oriented real estate journals, shows that influential academic real estate research is concentrated in a core group of real estate journals, indicates a declining influence of non-real estate journals in generating citations, and shows that the Journal of Real Estate Finance and Economics has increased its influence on real estate research. The citation proportions for the Journal of Real Estate Finance and Economics for shorter time lags are noticeably above those of other journals. The results imply that real estate has a separate literature stream focused on topics, theories, and methodologies relevant to business-oriented real estate researchers. Journal: Journal of Real Estate Literature Pages: 383-396 Issue: 3 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090215 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090215 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:3:p:383-396 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090216_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Musil Author-X-Name-First: Thomas Author-X-Name-Last: Musil Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 461-468 Issue: 3 Volume: 15 Year: 2007 Month: 1 X-DOI: 10.1080/10835547.2007.12090216 File-URL: http://hdl.handle.net/10.1080/10835547.2007.12090216 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:15:y:2007:i:3:p:461-468 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090217_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Charles Beauchamp Author-X-Name-First: Charles Author-X-Name-Last: Beauchamp Author-Name: William Hardin Author-X-Name-First: William Author-X-Name-Last: Hardin Author-Name: Matthew Hill Author-X-Name-First: Matthew Author-X-Name-Last: Hill Author-Name: Kartono Liano Author-X-Name-First: Kartono Author-X-Name-Last: Liano Title: The Finance and Real Estate Publications of Real Estate Editorial Board Members Abstract: The publication records in finance and real estate journals of editorial board members of the top three business-oriented real estate journals—Real Estate Economics, Journal of Real Estate Research, and Journal of Real Estate Finance and Economics—are evaluated to discern the relative importance of both types of publication outlets in determining research excellence for real estate researchers. The temporal distribution of these publications is also assessed. Findings show that the overwhelming majority of board member publications are in real estate journals with a trend toward publishing primarily in real estate journals and that publication in finance journals is not a prerequisite for being designated a board member of a top real estate journal. The finance publications of real estate editorial board members are in premier finance journals, however, which implies a concurrent high level of quality on all real estate research. These findings support the argument that real estate should be viewed as a separate business discipline and that real estate specific research is highly rewarded within part of the academic community. Journal: Journal of Real Estate Literature Pages: 23-32 Issue: 1 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090217 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090217 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:1:p:23-32 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090218_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sean Salter Author-X-Name-First: Sean Author-X-Name-Last: Salter Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 83-86 Issue: 1 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090218 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090218 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:1:p:83-86 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090219_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Zaiton Ali Author-X-Name-First: Zaiton Author-X-Name-Last: Ali Author-Name: Stanley McGreal Author-X-Name-First: Stanley Author-X-Name-Last: McGreal Author-Name: Alastair Adair Author-X-Name-First: Alastair Author-X-Name-Last: Adair Author-Name: James Webb Author-X-Name-First: James Author-X-Name-Last: Webb Title: Corporate Real Estate Strategy: The Malaysian Perspective Abstract: This study analyses the relationships between corporate real estate (CRE) strategy and financial performance of companies in Malaysia during 1998 and 2003. The identification of CRE strategies is based on the work of Nourse and Roulac (1993) and maps these strategies to the financial performance of companies through multivariate models. The results indicate that 80% of the companies had a dominant CRE strategy that matched the Nourse and Roulac framework in both periods. For the 1998 analysis, there was no apparent link between CRE strategy and share performance. Indeed those companies not having a strategy had better share performance. In contrast, there was evidence of a CRE strategy making a contribution to share price in 2003. In particular, the strategy to facilitate managerial process and knowledge framework is shown to enhance financial performance, compared to other CRE strategies or the no strategy alternative. This study concludes that CRE strategy can make a positive contribution to financial performance, but needs more attention from management in order to maximize its potential. Journal: Journal of Real Estate Literature Pages: 33-54 Issue: 1 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090219 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090219 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:1:p:33-54 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090220_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Zaiton Ali Author-X-Name-First: Zaiton Author-X-Name-Last: Ali Author-Name: Stanley McGreal Author-X-Name-First: Stanley Author-X-Name-Last: McGreal Author-Name: Alastair Adair Author-X-Name-First: Alastair Author-X-Name-Last: Adair Author-Name: James Webb Author-X-Name-First: James Author-X-Name-Last: Webb Title: Corporate Real Estate Strategy: A Conceptual Overview Abstract: This paper is a review of key issues that have emerged in the development of corporate real estate (CRE) over the past two decades and in particular considers how real estate asset holdings and activities support business objectives. The themes explored include definitions of CRE; the roles, contributions and functions of CRE; the paradigm shift in real estate from being a space provider to a strategic resource; and the strategic management context and strategy formulation. Journal: Journal of Real Estate Literature Pages: 1-22 Issue: 1 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090220 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090220 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:1:p:1-22 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090221_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Mark Linné Author-X-Name-First: Mark Author-X-Name-Last: Linné Author-Name: John Cirincione Author-X-Name-First: John Author-X-Name-Last: Cirincione Title: Creating Open Data Standards for Real Estate, Appraisal, and Mortgage Banking Abstract: The academic community can play a vital role in the development of open data standards within the real estate, appraisal, and mortgage banking professions as a key stakeholder group. What becomes clear from an examination of the future of data standards is the need for a strong academic/practitioner connection. It is also clear that the primary source for education and analytic cal tool sets must be the academic community, yet at present there is only minimal involvement by academics in the data standards effort. Journal: Journal of Real Estate Literature Pages: 73-82 Issue: 1 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090221 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090221 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:1:p:73-82 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090222_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 87-92 Issue: 1 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090222 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090222 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:1:p:87-92 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090223_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Hong Yunnan Author-X-Name-First: Hong Author-X-Name-Last: Yunnan Title: Effects of Urban Land Supply Policy on Real Estate in China: An Econometric Analysis Abstract: Since 2005, the Chinese government has frequently strengthened controls on the real estate market. Land supply policy was included in the system of state macro-control on the real estate market and state economic development. This paper examines the following issues after analyzing the panel data of Yunnan Province and other provinces of China. (1) Does land supply have significant effects on the real estate market after more than ten years of urban land reforms? (2) Which land supply policy affected the real estate market in China? (3) Does it affect the real estate market and macro-economic control of China's existing land supply policy? The main conclusions of the paper are: (1) Land supply policy has a significant impact on the real estate market with the deepening of China's urban land system reform and the development of the land market. (2) China's land supply policy, as a powerful macro-control tool, has an impact on the real estate market under the government's monopoly. (3) The effects of the land tenure and use reform can mainly be seen in the land supply quota and the extent to which the market-driven supply effects the real estate market. Journal: Journal of Real Estate Literature Pages: 55-72 Issue: 1 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090223 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090223 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:1:p:55-72 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090224_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Musil Author-X-Name-First: Thomas Author-X-Name-Last: Musil Title: Book Review Journal: Journal of Real Estate Literature Pages: 93-100 Issue: 1 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090224 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090224 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:1:p:93-100 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090225_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stacy Sirmans Author-X-Name-First: Stacy Author-X-Name-Last: Sirmans Author-Name: Dean Gatzlaff Author-X-Name-First: Dean Author-X-Name-Last: Gatzlaff Author-Name: David Macpherson Author-X-Name-First: David Author-X-Name-Last: Macpherson Title: Horizontal and Vertical Inequity in Real Property Taxation Abstract: This paper examines the extant literature on horizontal and vertical inequity in the taxation of real property. Some major conclusions from the literature are: (a) horizontal inequity may occur from unequal knowledge of market participants, unequal negotiating skills of buyers and sellers, and actions by officials to limit property tax increases; (b) examples of horizontal inequity include older homes being underassessed relative to newer homes, homes with views being overassessed, and houses with larger lots being underassessed; (c) the degree of horizontal inequity is positively related to the complexity of the jurisdiction's taxing structure; (d) initiatives to limit property taxes such as Proposition 13 create horizontal inequity; (e) models measuring vertical inequity generally examine the relationship between assessed value and market value; (f) studies have attempted to improve the accuracy of vertical inequity models by using simultaneous equations and spline regression; and (g) studies measuring vertical inequity have found both regressive and progressive inequity with slightly more studies finding regressive inequity. Journal: Journal of Real Estate Literature Pages: 167-180 Issue: 2 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090225 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090225 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:2:p:167-180 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090226_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Qiulin Ke Author-X-Name-First: Qiulin Author-X-Name-Last: Ke Title: Are State-Owned Companies Underperforming? A Case Study of Chinese Listed Property Companies Abstract: China's privatization program was initiated in April 1984 through the State Commission; however, the State continues to hold dominant shares in privatized companies. The fast growing economy has created a favorable environment for the private economy to develop, especially in property markets that have been booming since 2000. This study uses data of all the listed property companies in China's stock markets from 2000 to 2005 to investigate two issues: (1) who owns China's listed property companies; and (2) the performance differences between these two types of property companies. The goals of the research are to examine whether state-owned companies are less efficient and underperform privately-owned companies in the property sector and what type of property companies are good investments. Journal: Journal of Real Estate Literature Pages: 181-200 Issue: 2 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090226 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090226 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:2:p:181-200 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090227_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Mak Kaboudan Author-X-Name-First: Mak Author-X-Name-Last: Kaboudan Title: Genetic Programming Forecasting of Real Estate Prices of Residential Single-Family Homes in Southern California Abstract: Use of an artificial intelligence technique, genetic programming (GP), is introduced here to predict real estate residential single-family home prices. GP is a computerized random search technique that can deliver regression-like models. Spatiotemporal model specifications of periodic average neighborhood prices are implemented to predict individual property prices. Average price variations are explained in terms of changes in home attributes, spatial attributes, and temporal economic variables. Quarterly data (2000-2005) from two cities in Southern California are utilized to obtain GP and standard statistical models. The results suggest that forecasts from city neighborhood average price GP equations may have an advantage over forecasts from GLS equations and over forecasts from models estimated using city aggregated data. Journal: Journal of Real Estate Literature Pages: 217-240 Issue: 2 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090227 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090227 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:2:p:217-240 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090228_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 245-250 Issue: 2 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090228 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090228 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:2:p:245-250 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090229_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Chris Manning Author-X-Name-First: Chris Author-X-Name-Last: Manning Author-Name: David Harrison Author-X-Name-First: David Author-X-Name-Last: Harrison Author-Name: Stephen Roulac Author-X-Name-First: Stephen Author-X-Name-Last: Roulac Author-Name: Colin Lizieri Author-X-Name-First: Colin Author-X-Name-Last: Lizieri Author-Name: Ronald Kaiser Author-X-Name-First: Ronald Author-X-Name-Last: Kaiser Author-Name: Brad Case Author-X-Name-First: Brad Author-X-Name-Last: Case Title: Industry Decision-Maker Use and Involvement in Academic Real Estate Research Abstract: The usefulness of academic journal publications to real estate industry decision-makers (e.g., institutional investors, managers, appraisers, brokers, developers, economists, etc.) is discussed for the benefit of university researchers seeking promotion and tenure. Different perspectives, experience, and advice is offered by four highly respected real estate industry decision-makers on how to successfully undertake and publish useful applied research in academic journals such as the Journal of Real Estate Research. These people regularly use academic journal articles to do their industry jobs better, as well as to publish their own applied research in respected academic journals. They also cite examples of applied research published in highly respected academic journals that they have found useful in their work. In addition, specific opportunities are discussed and suggestions made for university researchers wishing to participate in applied research publishable in quality academic journals respected by university tenure and promotion committees. Journal: Journal of Real Estate Literature Pages: 133-166 Issue: 2 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090229 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090229 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:2:p:133-166 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090230_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Lay Lim Author-X-Name-First: Lay Author-X-Name-Last: Lim Author-Name: William McCluskey Author-X-Name-First: William Author-X-Name-Last: McCluskey Author-Name: Peadar Davis Author-X-Name-First: Peadar Author-X-Name-Last: Davis Title: Area-Based Banding for Property Tax Assessment in Transitional Countries: An Empirical Investigation Abstract: This paper examines the potential applicability of an area banding approach in those situations where real estate data and other resources are scare. The purpose is to investigate the efficacy of property tax banding with respect to transitional countries, and to test this, a number of municipalities in Kosovo are used. The banding exercise is based on the actual floor area of the property. This will illustrate the potential application of banding properties within ‘area bands' as opposed to providing single point estimates of value. The paper also addresses important research questions that may have significant implications in the design of property tax systems within both transitional and developing countries. Journal: Journal of Real Estate Literature Pages: 201-216 Issue: 2 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090230 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090230 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:2:p:201-216 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090231_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sean Salter Author-X-Name-First: Sean Author-X-Name-Last: Salter Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 241-244 Issue: 2 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090231 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090231 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:2:p:241-244 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090232_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Musil Author-X-Name-First: Thomas Author-X-Name-Last: Musil Title: Book Review Journal: Journal of Real Estate Literature Pages: 251-256 Issue: 2 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090232 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090232 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:2:p:251-256 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090233_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stacy Sirmans Author-X-Name-First: Stacy Author-X-Name-Last: Sirmans Author-Name: Dean Gatzlaff Author-X-Name-First: Dean Author-X-Name-Last: Gatzlaff Author-Name: David Macpherson Author-X-Name-First: David Author-X-Name-Last: Macpherson Title: The History of Property Tax Capitalizationin Real Estate Abstract: This study examines the capitalization of property taxes in real property. Capitalization theory would suggest that property values depend on the level of public services and taxes within a community. Differences in taxes relative to public services should be reflected in property values. Studies on property tax capitalization have essentially tested the Tiebout hypothesis that allocative efficiency in the delivery of public services is achieved through a system of local governments. Some conclusions from the literature are: (a) the degree of capitalization depends on the elasticity of supply of housing. An increase in demand with inelastic supply will raise the price of housing whereas, with a perfectly elastic supply, a change in demand will not change price, (b) tax capitalization can “lock-in” homeowners and make it more difficult to move, (c) most studies measuring property tax capitalization have used two-stage least squares, and (d) the most typical empirical result has been partial capitalization. Journal: Journal of Real Estate Literature Pages: 327-344 Issue: 3 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090233 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090233 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:3:p:327-344 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090234_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dominique Fischer Author-X-Name-First: Dominique Author-X-Name-Last: Fischer Title: Evolution with Teleology: The Genetic Programming Heuristic Approach to Modeling Abstract: This paper illustrates the power of Genetic Programming (GP) with two simple examples: a housing price prediction based on only one variable (house size) and a mortgage default model based on the usual underwriting criteria. The general GP approach is described and the results are compared to the results obtained from regressions analysis. The superiority of GP results appears to be convincing. Less convincing is the Darwinian evolutionary metaphor that underpins the whole concept. Journal: Journal of Real Estate Literature Pages: 345-362 Issue: 3 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090234 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090234 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:3:p:345-362 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090235_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 419-424 Issue: 3 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090235 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090235 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:3:p:419-424 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090236_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael LaCour-Little Author-X-Name-First: Michael Author-X-Name-Last: LaCour-Little Title: Mortgage Termination Risk: A Review of the Recent Literature Abstract: This paper presents a review and synthesis of the past fifteen years of research on mortgage termination risk. Understanding termination risk is fundamental to explaining the workings of the now $13 trillion mortgage market. The review covers theoretical, empirical, and methodological work, including both residential and commercial market segments. In addition to synthesizing existing findings, open questions for further research are identified. The overall objective is to introduce this important topic to journal readers who may not be actively involved in the mortgage field and to stimulate thinking about open issues that deserve additional research. Journal: Journal of Real Estate Literature Pages: 295-326 Issue: 3 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090236 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090236 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:3:p:295-326 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090237_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Margot Weinstein Author-X-Name-First: Margot Author-X-Name-Last: Weinstein Author-Name: Elaine Worzala Author-X-Name-First: Elaine Author-X-Name-Last: Worzala Title: Graduate Real Estate Programs: An Analysis of the Past and Present and Trends for the Future Abstract: Graduate programs with concentrations in real estate have increased in recent years to fill the demand for well-educated practitioners in the industry. However, there has been a great deal of debate on what elements should be an essential part of a graduate program in order to help students succeed in the industry. This paper summarizes the results of over fifty interviews with educators, administrators, and practitioners from 14 top real estate programs in the United States, as well as data from recent focus groups on newer graduate real estate programs in the U.S. Several major themes emerged that provide insight on how to improve future graduate programs for practitioners. Journal: Journal of Real Estate Literature Pages: 385-414 Issue: 3 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090237 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090237 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:3:p:385-414 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090238_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Albert Cao Author-X-Name-First: Albert Author-X-Name-Last: Cao Author-Name: Ramin Keivani Author-X-Name-First: Ramin Author-X-Name-Last: Keivani Title: Risks in the Commercial Real Estate Markets in China Abstract: This paper contributes to filling the knowledge gap on risks in the commercial real estate market in four Chinese cities: Beijing, Shanghai, Guangzhou, and Chongqing. It examines the impact of urban governance, government real estate administration, and market practice in general and the current status of the property investment market in particular, on real estate market risks. The paper concludes that an institutional study needs to be built into a conventional economic analysis model to examine risks in commercial property investment in China. Journal: Journal of Real Estate Literature Pages: 363-384 Issue: 3 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090238 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090238 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:3:p:363-384 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090239_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sean Salter Author-X-Name-First: Sean Author-X-Name-Last: Salter Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 315-418 Issue: 3 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090239 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090239 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:3:p:315-418 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090240_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Musil Author-X-Name-First: Thomas Author-X-Name-Last: Musil Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 425-432 Issue: 3 Volume: 16 Year: 2008 Month: 1 X-DOI: 10.1080/10835547.2008.12090240 File-URL: http://hdl.handle.net/10.1080/10835547.2008.12090240 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:16:y:2008:i:3:p:425-432 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090241_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 123-128 Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090241 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090241 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:123-128 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090242_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Title: Real Estate Information Technology: International Terrorism Cyclicality: Predictions and Concerns Regarding Private Commercial Buildings Abstract: The paper explores overall worldwide terrorism attacks and those targeting separately commercial and government facilities, through statistical analysis and cycling with a 40-year dataset. The results indicate a surge of lethal attacks after the Gulf War and the existence of cycles. The cyclicality of terrorist incidences in commercial buildings is estimated at 18.4 years (injury and fatality cycles are 7.8 and 8.4 years, respectively). Projections are offered until 2020, with the next period of increased casualties predicted from the end of 2008 through 2010. Concerns are raised on improvised explosive devices (IEDs), "Trojan-horses," and building-system tampering. Vigilance, information-sharing, and use of technology by building personnel may reduce the predicted casualty trends. Journal: Journal of Real Estate Literature Pages: 85-110 Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090242 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090242 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:85-110 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090243_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Wilfred Anim-Odame Author-X-Name-First: Wilfred Author-X-Name-Last: Anim-Odame Author-Name: Tony Key Author-X-Name-First: Tony Author-X-Name-Last: Key Author-Name: Simon Stevenson Author-X-Name-First: Simon Author-X-Name-Last: Stevenson Title: Measures of Real Estate Values from Land Registration and Valuation Systems in Emerging Economies: The Case of Ghana Abstract: This paper investigates the applicability of the hedonic approach for creating indices of residential real estate values from state land registration and valuation systems in Ghana, Africa. Using data on 2,950 transactions from five classified locations in Accra and Tema for 1992–2005, sale prices are modeled, first, for the aggregate sample, before segmenting the market on the basis of two sub-periods (1992–1998 and 1999–2005) and three price bands. A series of continuous and categorical dummy variables are included in the model to construct a residential real estate index. The main conclusion is that heterogeneous real estate characteristics such as the number of bedrooms, number of stories, real estate size and type, quality of landscaping, plot size, security of tenure, and location are all significant variables that influence real estate prices in Ghana. Journal: Journal of Real Estate Literature Pages: 63-84 Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090243 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090243 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:63-84 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090244_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 111-114 Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090244 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090244 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:111-114 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090245_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: JOURNAL OF REAL ESTATE LITERATURE Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090245 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090245 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090246_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Current Journals: Journal Index: Contents of Current Journals Journal: Journal of Real Estate Literature Pages: 129-162 Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090246 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090246 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:129-162 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090247_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Author-Name: John McDonald Author-X-Name-First: John Author-X-Name-Last: McDonald Title: Review Articles: Eminent Domain: A Review of the Issues Abstract: This paper surveys the literature on eminent domain, particularly as it pertains to economic development projects. This survey is timely because of the recent Supreme Court decision in the case of Kelo v. City of New London. The majority of the Court now equates public use to public purpose and approves of the Connecticut local economic development statute. However, the Kelo decision generated much controversy at local, state, and federal levels. Use of the power of eminent domain for economic development projects remains controversial because of the perception that the definition of public use has become too broad in that transfer of property from one private owner to another is involved—even though "just compensation" is provided and a public purpose motivates the property acquisition. The debate seems to pit one idea of conservatism (judicial restraint) against another (inviolability of property rights). Journal: Journal of Real Estate Literature Pages: 1-43 Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090247 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090247 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:1-43 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090248_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Roselina Shakir Author-X-Name-First: Roselina Author-X-Name-Last: Shakir Title: International Articles: Examining the Effect of Leadership Structure and CEO Tenure on Malaysian Property Firm Performance Abstract: The leadership structure of a firm can be categorized in two different forms: (1) a combined leadership structure where the Chief Executive Officer (CEO) also holds the chairmanship of the firm and (2) a dual leadership structure where the CEO and chairman are two different individuals. This issue has received considerable attention in the field of corporate governance based on the assumption that the top personnel have the greatest influence on the running of the boards and thus could affect firm performance. This research addresses the issue of leadership structure and CEO tenure and their effect on firm performance, focusing on public listed property companies in Malaysia. Journal: Journal of Real Estate Literature Pages: 45-62 Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090248 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090248 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:45-62 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090249_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 115-121 Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090249 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090249 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:115-121 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090250_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2008 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Real Estate Literature Pages: bmi-bmxix Issue: 1 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090250 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090250 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:1:p:bmi-bmxix Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090251_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joseph Rabianski Author-X-Name-First: Joseph Author-X-Name-Last: Rabianski Author-Name: Karen Gibler Author-X-Name-First: Karen Author-X-Name-Last: Gibler Author-Name: O. Alan Tidwell Author-X-Name-First: O. Alan Author-X-Name-Last: Tidwell Author-Name: J. Sherwood Clements III Author-X-Name-First: J. Sherwood Author-X-Name-Last: Clements III Title: Mixed-Use Development: A Call for Research Abstract: Planned mixed-use developments have been growing in popularity in recent decades, first as urban redevelopment schemes and now as suburban development hubs. Despite being touted as more environmentally friendly and financially successful than single-use properties, published theoretically-based empirical research on the topic is extremely limited. This review examines what is known and claimed about mixed-use development while providing a call for more research on this increasingly popular real estate product. Journal: Journal of Real Estate Literature Pages: 205-230 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090251 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090251 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:205-230 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090252_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2009 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Real Estate Literature Pages: bmi-bmxix Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090252 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090252 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:bmi-bmxix Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090253_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Current Journals: Journal Index: Contents of Current Journals Journal: Journal of Real Estate Literature Pages: 331-368 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090253 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090253 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:331-368 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090254_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: JOURNAL OF REAL ESTATE LITERATURE Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090254 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090254 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090255_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Muhammad Faishal Ibrahim Author-X-Name-First: Muhammad Faishal Author-X-Name-Last: Ibrahim Author-Name: Ong Seow Eng Author-X-Name-First: Ong Seow Author-X-Name-Last: Eng Author-Name: Ali Parsa Author-X-Name-First: Ali Author-X-Name-Last: Parsa Title: International Articles: Shariah Property Investment in Asia Abstract: Islamic banking and finance is growing at a rapid pace because of its value-oriented ethos. Through interviews with Shariah-compliant property investment players in Singapore, Bahrain, and Dubai, this research is a sequel to Parsa and McIntosh (2005), which looks at the trends and the development of an international strategy for Shariah-compliant property investment. The findings reveal that more than 95% of the respondents felt that "compliance with Shariah law is a fundamental requirement in terms of "halal" type of investment and investment structure." More than 75% of the respondents preferred to use the ijara/ijara-wa-iqtina and sukuk method of financing Shariah-compliant property investment. Seventy-eight percent of the respondents felt that Southeast Asia has the highest potential in Asia in attracting Shariah-compliant property investment. Together with the findings of Parsa and McIntosh (2005), this study extends the insights to the world of Shariah property investment. Journal: Journal of Real Estate Literature Pages: 231-248 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090255 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090255 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:231-248 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090256_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Chung Yim Yiu Author-X-Name-First: Chung Yim Author-X-Name-Last: Yiu Title: Disentanglement of Age, Time, and Vintage Effects on Housing Price by Forward Contracts Abstract: Age, time, and vintage effects are exact collinear, so their effects cannot be disentangled in regression analyses. Suggestions have been put forward to deal with this problem, but in vain. Since the problem of exact collinearity requires external information to solve, any manipulation of the existing data is doomed to fail. This paper circumvents the problem fundamentally by exploiting housing forward contracts, which can estimate vintage effects in housing by using a priori information in pre-occupation sales (i.e., forward contracts). An empirical illustration of a housing estate in Hong Kong is provided. Journal: Journal of Real Estate Literature Pages: 273-291 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090256 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090256 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:273-291 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090257_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: G. Donald Jud Author-X-Name-First: G. Donald Author-X-Name-Last: Jud Author-Name: Daniel Winkler Author-X-Name-First: Daniel Author-X-Name-Last: Winkler Title: The Housing Futures Market Abstract: The Chicago Mercantile Exchange (CME) in May 2006 began trading housing futures contracts and options, in response to the growing concern with housing risk. This paper reviews the development and operation of the CME housing futures market. The findings indicate that speculators earn significant risk premiums for assuming the risk of future fluctuations in housing prices. These returns and risks, however, appear to be substantially different than the risks and returns earned by those who invest in housing directly. The CME housing futures market offers a way for individuals, businesses, and others to transfer housing risk, which would seem to be important given the importance of housing to household wealth and the overall economy, but low trading volumes indicate that few have been willing to utilize this mechanism. Journal: Journal of Real Estate Literature Pages: 181-203 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090257 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090257 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:181-203 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090258_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Amr Hassanein Author-X-Name-First: Amr Author-X-Name-Last: Hassanein Author-Name: Mohamed El-Barkouky Author-X-Name-First: Mohamed Author-X-Name-Last: El-Barkouky Title: A Suggested Mortgage System Model for Egypt Abstract: This research aimed at outlining a proper mortgage practice system in Egypt. The institutional and regulatory structures of two mortgage systems, the U.S. and the Malaysian, were examined through an extensive literature survey. Data on the current Egyptian mortgage practice was compared to both practices. The results identified several limitations in Egyptian mortgage practice: inefficient procedures of property registration; absence of an efficient mortgage secondary market; relatively high mortgage lending rate; non existence of various types of mortgage instruments; and lack of credit enhancement tools. Several recommendations are offered for improving the existing Egyptian mortgage practice: realizing a proper secondary market, establishing efficient credit enhancement tools, and lowering the mortgage lending rate. Journal: Journal of Real Estate Literature Pages: 249-272 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090258 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090258 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:249-272 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090259_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 323-330 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090259 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090259 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:323-330 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090260_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 311-314 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090260 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090260 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:311-314 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090261_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Charles Carter Author-X-Name-First: Charles Author-X-Name-Last: Carter Title: Review Articles: What We Know About Shopping Centers Abstract: Suburban shopping centers were the most successful retail establishments of the twentieth century. They almost completely supplanted the central downtown department store retail businesses, which had been the primary retail establishments of the nineteenth century. Urban economics has explained to a great extent the reasons for shopping centers' success over the ways retailing had formerly been done. It all has to do with what is called the internalization of inter-store externalities. All aspects of shopping center retailing are affected. This article takes the reader through the research on shopping centers, explaining issues that were especially important and how initial research led to further findings and the general resolution of the problem. Journal: Journal of Real Estate Literature Pages: 163-180 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090261 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090261 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:163-180 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090262_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Yannis Panagopoulos Author-X-Name-First: Yannis Author-X-Name-Last: Panagopoulos Author-Name: Prodromos Vlamis Author-X-Name-First: Prodromos Author-X-Name-Last: Vlamis Title: Real Estate Information Technology: Bank Lending, Real Estate Bubbles, and Basel II Abstract: This paper reviews the literature and empirical work on how bank over-lending, property price bubbles, real estate company failures, and banking crises are intertwined. We refer to the old capital adequacy regulatory framework (Basel I) for banks and we illustrate the new one (Basel II). We critically discuss banking supervisors' views with specific reference to real estate lending. We argue that various quantitative regulations should be put forward by the supervisory authorities to ensure prudent lending practices regarding real estate sector. More specifically, rules can be imposed regarding the size of the loan-to-value ratios and the use of periodic and frequent property valuation. To the best of our knowledge, this is the first attempt to discuss and bring together the most recent developments in the bank regulation and the real estate cycles/bubbles literature. Journal: Journal of Real Estate Literature Pages: 293-310 Issue: 2 Volume: 17 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12090262 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12090262 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:17:y:2009:i:2:p:293-310 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090263_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Hsin-Mei Su Author-X-Name-First: Hsin-Mei Author-X-Name-Last: Su Author-Name: Chien-Ming Huang Author-X-Name-First: Chien-Ming Author-X-Name-Last: Huang Author-Name: Tung-Yueh Pai Author-X-Name-First: Tung-Yueh Author-X-Name-Last: Pai Title: The Hybrid Characteristic of REIT Returns: Evidence from Japanese and U.S. States Markets Abstract: This study investigates whether the behavior of real estate investment trusts (REITs) is more like that of common stocks or bonds by inspecting the conditional variance of the stock market. The analysis indicates that the REITs returns in Japan and the United States exhibit the same hybrid form. This must depend on the state of the market risk as a result of dividing the stock market volatility into a low-level and a high-level regime. When the volatility of market returns lies in a low-level regime, the REIT returns tend toward traditional stock forms, but do not lie in a high-level regime. Our findings help to reconcile the controversy of previous studies with regard to the REITs characteristics. In addition, the interest rate sensitivity of REIT returns in the two countries is significantly different and can be attributed to the different expectations of market investors. Journal: Journal of Real Estate Literature Pages: 77-98 Issue: 1 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090263 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090263 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:1:p:77-98 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090264_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2009 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Real Estate Literature Pages: bmi-bmxix Issue: 1 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090264 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090264 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:1:p:bmi-bmxix Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090265_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Abraham Park Author-X-Name-First: Abraham Author-X-Name-Last: Park Author-Name: John Glascock Author-X-Name-First: John Author-X-Name-Last: Glascock Title: Review Articles: Corporate Real Estate and Sustainable Competitive Advantage Abstract: This paper extends the growing literature on the role of corporate real estate (CRE) within the corporate strategy context and addresses the need to identify the degree to which CRE can be classified, and ultimately more efficiently exploited, as a strategic enterprise resource. The themes covered include identifying the underlying goal of corporate strategy as producing and sustaining competitive advantages; defining resources as strategic when they create firm-level entry barriers through isolating mechanisms; and identifying the criteria for determining CRE as a strategic, rather than purely operational, enterprise resource. Journal: Journal of Real Estate Literature Pages: 1-19 Issue: 1 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090265 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090265 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:1:p:1-19 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090266_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Bella Berezansky Author-X-Name-First: Bella Author-X-Name-Last: Berezansky Author-Name: Boris Portnov Author-X-Name-First: Boris Author-X-Name-Last: Portnov Author-Name: Boaz Barzilai Author-X-Name-First: Boaz Author-X-Name-Last: Barzilai Title: Objective vs. Perceived Air Pollution as a Factor of Housing Pricing: A Case Study of the Greater Haifa Metropolitan Area Abstract: Sale prices of residential properties are not necessarily affected by objectively measured property attributes, but rather by attributes that sellers and buyers perceive as factual. To verify this assumption, we examined the effect of air pollution on market prices of 926 housing units sold between 1998 and 2007 in the Greater Haifa Metropolitan Area, Israel. First, we compared the ambient levels of SO2 and PM10 pollution, measured by air quality monitoring stations, with subjective evaluations of air pollution levels in the city neighborhoods, obtained via interviews of local residents. These two types of air pollution estimates were then used in the multivariate analysis as property price predictors. Subjective evaluations of local air quality performed significantly better in explaining the variation of local apartment prices than objectively measured air pollution levels. Journal: Journal of Real Estate Literature Pages: 99-122 Issue: 1 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090266 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090266 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:1:p:99-122 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090267_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: JOURNAL OF REAL ESTATE LITERATURE Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 1 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090267 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090267 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090268_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Review Journal: Journal of Real Estate Literature Pages: 153-158 Issue: 1 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090268 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090268 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:1:p:153-158 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090269_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kim Hiang Liow Author-X-Name-First: Kim Hiang Author-X-Name-Last: Liow Title: International Direct Real Estate Market Linkages: Evidence from Time-Varying Correlation and Cointegration Tests Abstract: This study examines the linkage between direct real estate markets in the United States, United Kingdom, Australia, Hong Kong, and Singapore from both the long-term and short-run perspectives over the period 1988–2008. The evidence indicates no co-integrating relationship exists in over 80% of the direct real estate market systems. The absence of a long-run stable relationship implies the presence of potential gains from international diversification in direct property investing, as many markets /sectors move separately with no shared common stochastic trend. Moreover, the conditional return relationships between the five major real estate markets are time-varying especially when the return series are inflation-adjusted. Finally, although the short-term co-movements between many real estate markets are still very low, stronger return relationships among the five major real estate markets are present, implying that portfolio managers should expect some reduced diversification benefits in the long run. Journal: Journal of Real Estate Literature Pages: 283-312 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090269 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090269 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:283-312 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090270_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ram Acharya Author-X-Name-First: Ram Author-X-Name-Last: Acharya Author-Name: Albert Kagan Author-X-Name-First: Albert Author-X-Name-Last: Kagan Author-Name: Travis Zimmerman Author-X-Name-First: Travis Author-X-Name-Last: Zimmerman Title: Real Estate Information Technology: Influence of Email Marketing on Real Estate Agent Performance Abstract: An agent behavior model, based on the theory of reasoned action, is tested against empirical data collected from Realtors in Phoenix, Arizona. Since the empirical model includes theoretical constructs, a structural equation modeling (SEM) approach capable of handling variable latency and measurement errors is used to estimate the parameters. Model results are consistent with the a priori expectation that agent's perception and attitude towards new information technology affects their decision to use email as marketing tool. Moreover, the empirical results also support the observation that information technology plays an important role in determining the Realtor's economic performance. Journal: Journal of Real Estate Literature Pages: 329-343 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090270 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090270 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:329-343 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090271_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 353-356 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090271 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090271 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:353-356 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090272_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Current Journals: Journal Index Journal: Journal of Real Estate Literature Pages: 361-402 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090272 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090272 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:361-402 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090273_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Heidi Falkenbach Author-X-Name-First: Heidi Author-X-Name-Last: Falkenbach Author-Name: Anna-Liisa Lindholm Author-X-Name-First: Anna-Liisa Author-X-Name-Last: Lindholm Author-Name: Helmut Schleich Author-X-Name-First: Helmut Author-X-Name-Last: Schleich Title: Review Articles: Environmental Sustainability: Drivers for the Real Estate Investor Abstract: The role of environmental sustainability has increased in the real estate sector. The adoption of sustainable principles, however, has been slowed by a lack of evidence relating to the financial benefits and uneven distribution of costs and benefits between owners (investors) and occupiers. This study identifies the drivers and benefits of environmentally sustainable buildings from the real estate investor's perspective. The research is based on a comprehensive literature review focusing on the previous research showing scientific evidence on the benefits of investing in environmentally sustainable buildings. Journal: Journal of Real Estate Literature Pages: 201-223 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090273 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090273 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:201-223 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090274_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Vicky Seiler Author-X-Name-First: Vicky Author-X-Name-Last: Seiler Author-Name: Timothy Reisenwitz Author-X-Name-First: Timothy Author-X-Name-Last: Reisenwitz Title: A Review of Service Quality Research in Real Estate Abstract: This paper reviews service quality research in the residential real estate brokerage industry. This article emphasizes the important role that leveraging service quality plays in differentiating a real estate firm from its competitors. The study focuses on the initial measurement model that was developed and refined in the marketing literature, the Nelson and Nelson (1995) adaptation to real estate (RESERV), and the most recent works to reconcile the current understanding of the role that service quality plays in the brokerage industry. This review concludes with suggested directions for future research. Journal: Journal of Real Estate Literature Pages: 225-238 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090274 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090274 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:225-238 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090275_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Jackson Author-X-Name-First: Thomas Author-X-Name-Last: Jackson Author-Name: Jennifer Pitts Author-X-Name-First: Jennifer Author-X-Name-Last: Pitts Title: The Effects of Electric Transmission Lines on Property Values: A Literature Review Abstract: This paper presents a review of empirical studies on the effects of electric transmission lines on property values. The primary purpose of these studies is to address the effects of the presence of transmission lines on the value of surrounding properties. The studies range from survey-based research that provides important context to regression analyses of sales data to less formal appraisal-based sales analyses. The surveys of market participants and real estate professionals found evidence of concern and at least in one survey, an assumption that such concern would impact property values. Others noted the unattractiveness of the transmission lines and structures. However, most of the regression-based sales price analyses found little or no effects on price. What effects that were found tended to dissipate with time and distance. Lastly, price analyses based on less formal paired sales and other techniques failed to find any effects. Journal: Journal of Real Estate Literature Pages: 239-259 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090275 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090275 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:239-259 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090276_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2010 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Real Estate Literature Pages: bmi-bmxv Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090276 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090276 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:bmi-bmxv Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090277_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Heidi Falkenbach Author-X-Name-First: Heidi Author-X-Name-Last: Falkenbach Author-Name: Saija Toivonen Author-X-Name-First: Saija Author-X-Name-Last: Toivonen Title: Effects of International Investments on the Finnish Commercial Real Estate Market Abstract: The Finnish commercial property market has internationalized rapidly, with nearly 80 foreign property investors participating in the market today. This paper explores through interviews of domestic investors how the entry of international property investors has affected the Finnish commercial property market. The results indicate that the internationalization has had a profound effect on the dynamics of the Finnish market in terms of investor strategies and ways of action, market liquidity, and size, as well as market transparency and the availability of real estate-related services. These changes have together contributed to the maturity and attractiveness of the Finnish commercial property market. Journal: Journal of Real Estate Literature Pages: 313-328 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090277 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090277 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:313-328 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090278_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 345-352 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090278 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090278 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:345-352 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090279_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Review Journal: Journal of Real Estate Literature Pages: 357-360 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090279 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090279 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:357-360 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090280_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: JOURNAL OF REAL ESTATE LITERATURE Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090280 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090280 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090281_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Steven Bourassa Author-X-Name-First: Steven Author-X-Name-Last: Bourassa Author-Name: Martin Hoesli Author-X-Name-First: Martin Author-X-Name-Last: Hoesli Author-Name: Donato Scognamiglio Author-X-Name-First: Donato Author-X-Name-Last: Scognamiglio Title: International Articles: Housing Finance, Prices, and Tenure in Switzerland Abstract: In contrast to many other countries, Switzerland generally has not seen soaring house prices in the 2000s and house prices have only recently started to diminish slightly. Also, Swiss authorities do not engage in trying to increase the homeownership rate much above its current level. This paper presents the main aspects of housing policy and finance in Switzerland, which can help to explain these idiosyncrasies. House prices and rents are also analyzed. The policies that are discussed in this paper may be useful to housing policy makers in other countries. Journal: Journal of Real Estate Literature Pages: 261-282 Issue: 2 Volume: 18 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12090281 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12090281 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:18:y:2010:i:2:p:261-282 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090282_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sonali Das Author-X-Name-First: Sonali Author-X-Name-Last: Das Author-Name: Rangan Gupta Author-X-Name-First: Rangan Author-X-Name-Last: Gupta Author-Name: Patrick Kanda Author-X-Name-First: Patrick Author-X-Name-Last: Kanda Title: INTERNATIONAL ARTICLES: BUBBLES IN SOUTH AFRICAN HOUSE PRICES AND THEIR IMPACT ON CONSUMPTION Abstract: This study tests for house price bubbles in the South African housing market using quarterly data from 1969:Q2 to 2009:Q3, based on the unit root test developed by Phillips, Wu, and Yu (2010). The findings indicate house price bubbles in the aggregate, large, medium, and small-middle segments, but not in the luxury and affordable segments. Next, symmetric and asymmetric versions of an Error Correction Model (ECM) are used to investigate the spillover effects from the housing sector onto consumption. Results indicate significant and asymmetric spillovers, with consumption responding significantly to house price deceleration, although there is no evidence of the effect being higher during the bubble period. Journal: Journal of Real Estate Literature Pages: 69-91 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090282 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090282 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:69-91 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090283_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Chris Manning Author-X-Name-First: Chris Author-X-Name-Last: Manning Author-Name: David Harrison Author-X-Name-First: David Author-X-Name-Last: Harrison Title: SHOULD WE CARE ABOUT FINANCE FACULTY OPINION OF REAL ESTATE JOURNAL QUALITY? Abstract: Real estate has evolved into a unique discipline, separate and distinct from its finance and economics-based origins. Our 2008 survey of U.S. academic members of the Financial Management Association reveals that only 8% of respondents claim a real estate expertise, 6.9% report six or more academic real estate publications in the prior ten years, and only a third have real estate faculty in their departments. These numbers are significantly lower than similar survey results of 15 years ago. Of the 204 AACSB tenure-track finance faculty respondents that likely influence the rank and tenure decisions of real estate faculty within their departments, only half claim to be familiar with the 1st tier real estate academic journals. As the real estate discipline continues to evolve, university administrators should be cognizant of the decreasing familiarity, reliability, and relevance of finance faculty perceptions of academic real estate journal quality. Journal: Journal of Real Estate Literature Pages: 41-67 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090283 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090283 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:41-67 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090284_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Emily Norman Zietz Author-X-Name-First: Emily Norman Author-X-Name-Last: Zietz Author-Name: G. Stacy Sirmans Author-X-Name-First: G. Author-X-Name-Last: Stacy Sirmans Title: REVIEW ARTICLES: REAL ESTATE BROKERAGE RESEARCH IN THE NEW MILLENNIUM Abstract: This paper examines the direction of real estate brokerage since 1999. This paper updates the brokerage literature since that time and examines the direction of brokerage research. The paper highlights the major points of the research and summarizes important findings. Papers are divided into categories and discussions provided for each section. Areas that are examined include (1) efficiencies in brokerage operations, (2) technology, (3) performance, and (4) agency relationships. Efficiency issues include brokerage operational efficiencies, franchising, and product diversification. Technology issues include effects on income and brokerage practices. Performance issues include productivity, professionalization, gender/minority broker effects, and contract type. Agency issues include disclosure, competition, and agency relationships in general. Journal: Journal of Real Estate Literature Pages: 3-40 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090284 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090284 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:3-40 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090285_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2010 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Real Estate Literature Pages: bmi-bmxv Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090285 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090285 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:bmi-bmxv Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090286_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: CURRENT JOURNALS Journal: Journal of Real Estate Literature Pages: 189-234 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090286 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090286 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:189-234 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090287_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: C. Michael Impson Author-X-Name-First: C. Michael Author-X-Name-Last: Impson Author-Name: James Conover Author-X-Name-First: James Author-X-Name-Last: Conover Title: DATA, METHODS, AND TECHNOLOGY: DRIBS AND DRABS AND NEW INFORMATION IN THE REIT LEGISLATIVE PROCESS Abstract: This study examines specific "new information" releases on legislative landmark dates and tests the "dribs and drabs" information production hypothesis between legislative landmark dates, extending Howe and Jain's (2004) tests of the "new information" hypothesis for the 1999 REIT Modernization Act (RMA). The findings reveal significant pricing changes between legislative landmark dates despite the low power of this regulatory event study methodology for long event windows. The findings are robust. Overall, both the "dribs and drabs" information production hypothesis and the "new information" hypothesis are supported during intervals that REIT legislative bills are under consideration for the 1999 RMA. Journal: Journal of Real Estate Literature Pages: 151-166 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090287 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090287 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:151-166 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090288_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 175-182 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090288 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090288 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:175-182 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090289_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: BOOK REVIEWS Journal: Journal of Real Estate Literature Pages: 183-188 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090289 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090289 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:183-188 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090290_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: DOCTORAL DISSERTATIONS Journal: Journal of Real Estate Literature Pages: 167-174 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090290 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090290 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:167-174 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090291_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: INTRODUCTION Journal: Journal of Real Estate Literature Pages: 1-1 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090291 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090291 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:1-1 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090292_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Journal of Real Estate Literature Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090292 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090292 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090293_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Felix Schindler Author-X-Name-First: Felix Author-X-Name-Last: Schindler Title: MARKET EFFICIENCY AND RETURN PREDICTABILITY IN THE EMERGING SECURITIZED REAL ESTATE MARKETS Abstract: This paper tests market efficiency and return predictability for twelve emerging and four developed securitized real estate markets from 1992 through 2009. The analysis is based on autocorrelation tests, as well as both single variance and multiple variance ratio tests. Furthermore, non-parametric runs tests are conducted. Empirical evidence shows that the efficient market hypothesis in its weak form is not rejected by any statistical test for seven of the twelve markets. This result is surprising, since all four developed securitized real estate stock markets analyzed do not follow a random walk. The results are confirmed by the analysis of excess returns following from technical trading rules. Journal: Journal of Real Estate Literature Pages: 111-150 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090293 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090293 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:111-150 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090294_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ming-Long Lee Author-X-Name-First: Ming-Long Author-X-Name-Last: Lee Author-Name: Shew-Huei Kuo Author-X-Name-First: Shew-Huei Author-X-Name-Last: Kuo Author-Name: Ming-Te Lee Author-X-Name-First: Ming-Te Author-X-Name-Last: Lee Author-Name: Chia-Wei Lin Author-X-Name-First: Chia-Wei Author-X-Name-Last: Lin Title: MARKET SIGNALS ASSOCIATED WITH TAIWAN REIT IPOS: REACTIONS OF NON-REIT REAL ESTATE STOCKS Abstract: This study examines the influence of real estate investment trust (REIT) initial public offering (IPO) announcements on the returns of non-REIT real estate stocks in Taiwan. In contrast to the Malaysian study of Sing, Ho, and Mak (2002), we find that Taiwan REIT IPOs have favorable effects on these stocks. Moreover, investors can obtain higher abnormal returns from investing in underpriced non-REIT real estate stocks following Taiwan REIT IPO announcements. Journal: Journal of Real Estate Literature Pages: 93-110 Issue: 1 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090294 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090294 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:1:p:93-110 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090295_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: WORKING PAPERS Journal: Journal of Real Estate Literature Pages: 479-486 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090295 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090295 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:479-486 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090296_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ming-Te Lee Author-X-Name-First: Ming-Te Author-X-Name-Last: Lee Author-Name: Ming-Long Lee Author-X-Name-First: Ming-Long Author-X-Name-Last: Lee Author-Name: Fav-Tsoin Lai Author-X-Name-First: Fav-Tsoin Author-X-Name-Last: Lai Author-Name: Tung-Hsiao Yang Author-X-Name-First: Tung-Hsiao Author-X-Name-Last: Yang Title: INTERNATIONAL ARTICLES: DO REAL ESTATE STOCKS HEDGE INFLATION IN THE LONG RUN? EVIDENCE FROM THREE EAST ASIAN EMERGING MARKETS Abstract: Unsecuritized real estate is often hailed for its inflation-hedging quality. Do real estate stocks exhibit this desirable inflation-hedging characteristic in the long run? Existing studies mainly focus on American real estate investment trusts (U.S. REITs) and British real estate stocks. Extending these studies, this paper explores the long-run, inflation-hedging properties of real estate stocks in Malaysia, the Philippines, and Taiwan. Contrary to results based on data from developed markets, the empirical evidence in this study clearly shows that real estate stocks do not provide a hedge against inflation in the long run in the three East Asian emerging markets in this study. Journal: Journal of Real Estate Literature Pages: 345-372 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090296 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090296 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:345-372 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090297_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: BOOK REVIEWS Journal: Journal of Real Estate Literature Pages: 487-494 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090297 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090297 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:487-494 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090298_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Journal of Real Estate Literature Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090298 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090298 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090299_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Ian Thrall Author-X-Name-First: Grant Ian Author-X-Name-Last: Thrall Author-Name: Susan Thrall Author-X-Name-First: Susan Author-X-Name-Last: Thrall Title: DATA, METHODS, AND TECHNOLOGY: DATA RESOURCES FOR REAL ESTATE AND BUSINESS GEOGRAPHY MARKET ANALYSIS: A COMPREHENSIVE STRUCTURED ANNOTATED BIBLIOGRAPHY, VERSION 2.0 Abstract: This is an annotated bibliography of data relevant to real estate analysis. Without supporting data, our research, business advice, and policy recommendations are limited to being conjectural. Consider this "rule of 80s" and how it applies to real estate analysis: Eighty percent of what we do is data, and 80% of data is geospatial. To go beyond conjectural, we need data. Preferably reliable data, at the right geographic resolution, and data that is cost effective. Journal: Journal of Real Estate Literature Pages: 413-468 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090299 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090299 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:413-468 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090300_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Anh Khoi Pham Author-X-Name-First: Anh Khoi Author-X-Name-Last: Pham Title: THE SIGNIFICANCE AND PERFORMANCE OF SOUTH KOREAN REITS IN A MIXED-ASSET PORTFOLIO Abstract: This paper examines the risk and return characteristics of K-REITs and the correlation of Korean real estate investment trusts (K-REITs) to other asset classes and their diversification potential in a mixed-asset portfolio. The data were monthly total returns from January 2002 to December 2010 for South Korean REITs, bonds, shares, and property companies. The results reveal that K-REITs performed poorly over the entire period as compared to shares, bonds, and property companies. Consequently, K-REITs did not represent a substantial weight in a mixed-asset portfolio. However, K-REITs have a low correlation with shares and property companies, suggesting some level of diversification potential for share and property investors. Journal: Journal of Real Estate Literature Pages: 373-390 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090300 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090300 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:373-390 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090301_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen Pyhrr Author-X-Name-First: Stephen Author-X-Name-Last: Pyhrr Author-Name: Michael Seiler Author-X-Name-First: Michael Author-X-Name-Last: Seiler Author-Name: Larry Wofford Author-X-Name-First: Larry Author-X-Name-Last: Wofford Title: REVIEW ARTICLES: A SUPPLEMENTAL ACCOUNT OF THE HISTORY OF THE AMERICAN REAL ESTATE SOCIETY Abstract: This article supplements the history of the American Real Estate Society (ARES) that was discussed in the Journal of Real Estate Research special article by Pyhrr, Seiler, and Wofford (2011). We compile historical information from several sources with the goal of preserving a permanent record of ARES' rich tradition and history and establish the starting point on which future periodic updates should be based. In the final exhibit, 15 seasoned ARES leaders discuss the future missions, strategies, and goals of ARES on specific topics of interest. The ARES culture, based on purely volunteer leadership throughout the organization, and open and friendly collaboration among its members, has survived the test of time. However, ARES needs to progress to train leaders and to take advantage of modern technology and information transfer platforms to continue its success in the future marketing of its products and services. Journal: Journal of Real Estate Literature Pages: 235-281 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090301 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090301 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:235-281 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090302_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: DOCTORAL DISSERTATIONS Journal: Journal of Real Estate Literature Pages: 469-477 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090302 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090302 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:469-477 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090303_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Clifford Lipscomb Author-X-Name-First: Clifford Author-X-Name-Last: Lipscomb Author-Name: Max Kummerow Author-X-Name-First: Max Author-X-Name-Last: Kummerow Author-Name: Will Spiess Author-X-Name-First: Will Author-X-Name-Last: Spiess Author-Name: Sarah Kilpatrick Author-X-Name-First: Sarah Author-X-Name-Last: Kilpatrick Author-Name: John Kilpatrick Author-X-Name-First: John Author-X-Name-Last: Kilpatrick Title: CONTINGENT VALUATION AND REAL ESTATE DAMAGE ESTIMATION Abstract: Real estate appraisal practice stresses three traditional approaches (cost, sales comparison, and income) to value contaminated properties. This paper discusses a fourth approach: the contingent valuation method (CVM). This method is useful in the estimation of losses for contaminated properties when market data are not available or market failure is suspected. Transactions of impaired properties often represent a small sample of all properties under consideration; efficient market assumptions, such as an adequate level of information, are usually not met. In such circumstances, stated values derived from surveys may offer complementary and valid evidence of market value. Where transactional evidence and survey results differ, further analysis of market conditions may be helpful to determine which represents the most credible value conclusion. Journal: Journal of Real Estate Literature Pages: 283-305 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090303 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090303 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:283-305 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090304_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Zhilan Feng Author-X-Name-First: Zhilan Author-X-Name-Last: Feng Author-Name: S. McKay Price Author-X-Name-First: S. McKay Author-X-Name-Last: Price Author-Name: C. Sirmans Author-X-Name-First: C. Author-X-Name-Last: Sirmans Title: AN OVERVIEW OF EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS): 1993–2009 Abstract: This study documents the publicly traded equity real estate investment trust (REIT) universe during the modern REIT era (early 1990s through the present). The growth and consolidation of the industry, changes in property type focus, increases in institutional ownership, and the growth of operating partnership usage are documented. Additionally, trends in cash flow, variation in dividend payouts, increases in leverage, differences in accounting performance measures (ROA, ROE, Tobin's Q), a rise in expense ratios, and dissimilarities in profit margins are given by property type. A list of all firms who meet publicly traded REIT qualifications is also provided. Journal: Journal of Real Estate Literature Pages: 307-343 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090304 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090304 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:307-343 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090305_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Bwembya Chikolwa Author-X-Name-First: Bwembya Author-X-Name-Last: Chikolwa Title: INVESTIGATING THE CAPITAL STRUCTURE OF A-REITS Abstract: This paper examines the determinants of capital structure in 34 Australia real estate investment trusts (A-REITs) for the period 2003 to 2008. The results show that tangibility and size positively influence leverage, with risk having a negative impact. No evidence is found to support A-REITs issuance of debt when interest rates are low; however, they are less likely to default on their debt obligations in a strong real estate market. Real estate sector effects are mixed and stapled management structure and international operations have significant negative signs, showing that A-REITs with these features should have lower gearing levels. There is also some evidence that A-REITs follow the market timing theory of capital structure. Journal: Journal of Real Estate Literature Pages: 391-411 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090305 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090305 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:391-411 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090306_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2011 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Real Estate Literature Pages: bmi-bmxvii Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090306 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090306 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090307_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: CURRENT JOURNALS Journal: Journal of Real Estate Literature Pages: 495-540 Issue: 2 Volume: 19 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12090307 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12090307 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:19:y:2011:i:2:p:495-540 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090308_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: J. Andrew Hansz Author-X-Name-First: J. Andrew Author-X-Name-Last: Hansz Title: Current Journals Journal: Journal of Real Estate Literature Pages: 163-194 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090308 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090308 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:163-194 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090309_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 155-161 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090309 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090309 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:155-161 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090310_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dustin Read Author-X-Name-First: Dustin Author-X-Name-Last: Read Author-Name: Alexandra Tsvetkova Author-X-Name-First: Alexandra Author-X-Name-Last: Tsvetkova Title: Housing and Social Issues: A Cross Disciplinary Review of the Existing Literature Abstract: Research conducted in North America over the last three decades is summarized in this article to explore the multidimensional nature of housing affordability and the negative social consequences that can result from failing to ensure appropriate housing options are available for low and moderate income families. Social implications of neighborhood quality, homeownership, public housing, housing quality, and homelessness are all considered within the context of public education, community health, and criminal activity. The literature review is intended to inform policymakers involved in affordable housing programs, as well as to encourage real estate developers to consider innovative ways to increase the supply of affordable rental and owner-occupied housing in ways that are both profitable and socially responsible. Journal: Journal of Real Estate Literature Pages: 3-35 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090310 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090310 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:3-35 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090311_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Beatrice Simo-Kengne Author-X-Name-First: Beatrice Author-X-Name-Last: Simo-Kengne Author-Name: Manoel Bittencourt Author-X-Name-First: Manoel Author-X-Name-Last: Bittencourt Author-Name: Rangan Gupta Author-X-Name-First: Rangan Author-X-Name-Last: Gupta Title: House Prices and Economic Growth in South Africa: Evidence From Provincial-Level Data Abstract: This paper empirically examines the effect of house price changes on economic growth across provinces in South Africa. The economic impact of house prices is estimated using a panel data set that covers all nine provinces in South Africa from 1996 to 2010. The findings show that when heterogeneity, endogeneity, and spatial dependence are controlled for, house price changes exhibit a significant effect on regional economic growth in South Africa. The paper introduces a seemingly unrelated regression (SUR) specification and shows that spatial effects are highly important in South African housing markets. Moreover, the estimation results suggest that the wealth effect is important at the aggregated level, which contrasts the relevance of the collateral effect found at the regional level. Journal: Journal of Real Estate Literature Pages: 97-117 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090311 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090311 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:97-117 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090312_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sean Salter Author-X-Name-First: Sean Author-X-Name-Last: Salter Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 139-146 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090312 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090312 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:139-146 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090313_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Bertrand Renaud Author-X-Name-First: Bertrand Author-X-Name-Last: Renaud Title: Real Estate Bubble and Financial Crisis in Dubai: Dynamics and Policy Responses Abstract: Dubai experienced one of the world's most massive real estate bubbles in 2003-2008. This paper examines the dynamics of this bubble. There are several key questions. What were the multiple drivers of Dubai's bubble? What was the impact of the global financial and economic crisis of 2007-2009 on Dubai's economy during the bust? Why has the restructuring of Dubai World's debt and of its real estate companies been a core strategic component of Dubai long-term recovery? Drawing on past international experiences, what are the public and private actions needed to restructure Dubai's real estate sector? How effective have these measures been so far? What are the prospects for rebalancing Dubai's economy away from real estate? Journal: Journal of Real Estate Literature Pages: 51-77 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090313 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090313 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:51-77 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090314_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 147-153 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090314 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090314 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:147-153 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090315_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Backmatter Journal: Journal of Real Estate Literature Pages: bmi-mbxvii Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090315 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090315 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:bmi-mbxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090316_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Frontmatter Journal: Journal of Real Estate Literature Pages: i-x Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090316 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090316 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:i-x Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090317_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Randy Anderson Author-X-Name-First: Randy Author-X-Name-Last: Anderson Author-Name: Henrik Medla Author-X-Name-First: Henrik Author-X-Name-Last: Medla Author-Name: Nico Rottke Author-X-Name-First: Nico Author-X-Name-Last: Rottke Author-Name: Dirk Schiereck Author-X-Name-First: Dirk Author-X-Name-Last: Schiereck Title: Real Estate Merger Motives: An Analytical Review of the Literature Abstract: This paper examines the dominant theories, motives, methodologies, and results of the existing literature on the rationale for real estate related mergers. The literature review draws on the mainstream corporate governance literature in finance as its base and highlights the differences in motives between real estate and non-real estate related merger activity. The studies highlight that the homogeneity of real estate firms, especially as they pertain to the highly regulated real estate investment trust (REIT) industry, is expected to reduce the availability of revenue and overall corporate synergies, but might allow for the ability of some firms to more readily be able to take advantage of scale efficiencies. In addition to summarizing past studies, the review concludes with a discussion of the need for continued research in this evolving literature. Journal: Journal of Real Estate Literature Pages: 37-47 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090317 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090317 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:37-47 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090318_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Anh Khoi Pham Author-X-Name-First: Anh Khoi Author-X-Name-Last: Pham Title: The Dynamics of Returns and Volatility in the Emerging and Developed Asian Reit Markets Abstract: This paper examines the dynamics of return and volatility spillovers across the REIT markets of Japan, Singapore, Hong Kong, Malaysia, Taiwan, Thailand, and South Korea from June 2006 to May 2011. The emerging markets offer lower returns than the developed markets but lower risk as well. The emerging REIT index outperformed the developed REIT index on a risk-adjusted basis. The analysis suggests that correlations among Asian REIT markets are relatively low, ranging from 0.14 to 0.42 over the full-sample period. The results further indicate that correlations among emerging REIT markets are lower than that among developed markets. However, correlations are non-constant over time and increased during the recent Global Financial Crisis. The results from the EGARCH models show that there is a strong tendency for REIT returns to transmit from developed markets (e.g., Japan and Singapore) to emerging REIT markets. In regard to volatility transmission, the mechanism appears to be multidirectional. Journal: Journal of Real Estate Literature Pages: 79-96 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090318 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090318 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:79-96 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090319_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Donald Epley Author-X-Name-First: Donald Author-X-Name-Last: Epley Title: The Gulf Oil Spill and Its Impact on Coastal Property Value Using the Before-and-After Procedure Abstract: The before-and-after procedure is applied to Coastal Alabama property to estimate the economic loss in property value caused by the 2010 Gulf of Mexico Oil Spill. The project is unique in that it relies on market trends shown in the total population of deed recordings allowing the total impact to be estimated with the dynamic nature of a potential stigma. The results indicate that the oil spill has minimal influence on property value for waterfront condos and single-family residential, and approximately −16% in value on waterfront vacant residential land. Journal: Journal of Real Estate Literature Pages: 121-137 Issue: 1 Volume: 20 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12090319 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12090319 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:1:p:121-137 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090320_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Wilfred Anim-Odame Author-X-Name-First: Wilfred Author-X-Name-Last: Anim-Odame Title: The Nascent Residential Investment Market in Ghana Abstract: Globalization of all forms of real estate investment has increasingly demanded that performance benchmarks of high quality and international standards be made accessible to investors and fund managers. For the first time in Ghana, residential price and rent series are developed from hedonic models. These time series are used to generate other performance indicators—measures of investment yields and total returns (nominal and real)—in a rapidly growing residential real estate market, using transaction-based data from Accra and Tema. Overall, residential total returns have run at annualized rate made up of a relatively stable income return and highly volatile capital growth between 1992 and 2007. Across investment markets, the differences in long-run returns have been in large part driven by variation in rates of rental value growth. Journal: Journal of Real Estate Literature Pages: 289-303 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090320 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090320 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:289-303 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090321_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 337-343 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090321 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090321 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:337-343 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090324_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dirk Brounen Author-X-Name-First: Dirk Author-X-Name-Last: Brounen Author-Name: Sjoerd de Koning Author-X-Name-First: Sjoerd Author-X-Name-Last: de Koning Title: 50 Years of Real Estate Investment Trusts: An International Examination of the Rise and Performance of REITs Abstract: In 1960, the U.S. Congress passed the Real Estate Investment Trust (REIT) Act to expand the investment universe beyond securities such as stocks and bonds. The REIT standard has been adopted in 34 countries. In this paper, we examine the evolution and performance of this international REIT market. As REIT markets mature, we find that standard asset pricing models become better suited to explain the stock price movements of REITs. Our results show that over the past decade REIT stock outperformance was highest in Europe, and related positively to firm size, the level of property type specialization, and geographic portfolio focus. Systematic REIT risk is highest among Asian REITs and is mainly a reflection of firm leverage, especially in recent years. Journal: Journal of Real Estate Literature Pages: 197-223 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090324 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090324 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:197-223 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090325_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 331-336 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090325 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090325 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:331-336 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090326_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back matter Journal: Journal of Real Estate Literature Pages: bmi-bmxvii Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090326 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090326 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090329_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Akinwunmi Adeboye Author-X-Name-First: Akinwunmi Author-X-Name-Last: Adeboye Author-Name: Gameson Rod Author-X-Name-First: Gameson Author-X-Name-Last: Rod Author-Name: Hammond Felix Author-X-Name-First: Hammond Author-X-Name-Last: Felix Author-Name: Paul Olomolaiye Author-X-Name-First: Paul Author-X-Name-Last: Olomolaiye Title: An Overview of Residential Real Estate Financing in Nigeria Abstract: The housing sector, changes in the housing markets, and the systems of housing finance have significant implications on the financial markets, macroeconomic stability, and monetary policy. Therefore, most economies in the developed world adopt policies that make investment in their housing sectors attractive, resulting in their ratio of outstanding mortgage to GDP being above 50%. However, in most of the emerging/developing economies like Nigeria, even with resources at their disposal, the ratio is below 2%. This paper examines aspects of financing for housing acquisition over a period of time in Nigeria. The conclusion highlights pitfalls that need to be overcome; one of which is the need to adopt other means of mobilizing long-term liabilities to fund housing finance rather than depending on short-term deposit liabilities. Journal: Journal of Real Estate Literature Pages: 263-288 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090329 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090329 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:263-288 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090330_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Yilan Xu Author-X-Name-First: Yilan Author-X-Name-Last: Xu Author-Name: Jipeng Zhang Author-X-Name-First: Jipeng Author-X-Name-Last: Zhang Title: Nonlocal Mortgage Lending and the Secondary Market Involvement Abstract: This paper documents that out-of-state nonlocal mortgages, originated by state-chartered banks, are more likely to be subprime (high-priced) loans and are sold more to the secondary market than other types of mortgages, based on the data collected under the Home Mortgage Disclosure Act from 2005 to 2008. We find that the demand for nonlocal mortgages is larger in the neighborhood where the denial rate of mortgage applications to local banks is higher, suggesting that the borrowers of nonlocal mortgages are less creditworthy. Furthermore, a bank makes more nonlocal mortgages to out-of-state borrowers if it is involved more in the secondary market. Journal: Journal of Real Estate Literature Pages: 307-322 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090330 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090330 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:307-322 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090334_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Index Journal: Journal of Real Estate Literature Pages: 345-380 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090334 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090334 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:345-380 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090335_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 323-330 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090335 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090335 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:323-330 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090336_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front matter Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090336 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090336 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090338_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Wallner Author-X-Name-First: Robert Author-X-Name-Last: Wallner Title: GIS Measures of Residential Property Views Abstract: This paper develops four novel measures of a residential property's view using purely topographical data, evaluates each measure's contribution to property prices, and compares the efficacy of these new variables with manually-generated measures of view used in the literature. Using a set of semi-logarithmic and spatial autoregressive hedonic regression models for Sydney, Australia, this paper finds that water views contribute 2.30%-216.2% to property prices and land views contribute -5.94%-69.7%. These new measures confer an improvement in out-of-sample prediction accuracy of up to 6.2%. Journal: Journal of Real Estate Literature Pages: 224-225 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090338 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090338 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:224-225 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090339_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Louis Wilde Author-X-Name-First: Louis Author-X-Name-Last: Wilde Author-Name: Christopher Loos Author-X-Name-First: Christopher Author-X-Name-Last: Loos Author-Name: Jack Williamson Author-X-Name-First: Jack Author-X-Name-Last: Williamson Title: Pipelines and Property Values: An Eclectic Review of the Literature Abstract: Incidents involving natural gas pipelines in 2010-2011 in California and Pennsylvania have brought attention to the risks of natural gas pipelines. This paper concerns whether proximity to pipelines affects residential property values. A broad literature exists on the effects of proximity to disamenities on property values, particularly of potentially hazardous sites. This paper is unique in focusing on pipeline studies using actual sales data. We find that there is no credible evidence based on actual sales data that proximity to pipelines reduces property values. Journal: Journal of Real Estate Literature Pages: 245-259 Issue: 2 Volume: 20 Year: 2012 Month: 3 X-DOI: 10.1080/10835547.2014.12090339 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090339 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:245-259 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090347_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kimberly Winson-Geideman Author-X-Name-First: Kimberly Author-X-Name-Last: Winson-Geideman Author-Name: Nicholas Evangelopoulos Author-X-Name-First: Nicholas Author-X-Name-Last: Evangelopoulos Title: Topics in Real Estate Research, 1973-2010: A Latent Semantic Analysis Abstract: With the development and evolution of real estate literature a number of studies, primarily qualitative, have attempted to build structure into the body of published research. This research uses Latent Semantic Analysis to evaluate the content of abstracts published in Real Estate Economics, the Journal of Real Estate Finance and Economics, and the Journal of Real Estate Research from 1973 through 2010. Two main themes are identified and results are disaggregated, creating a pool of 25 topics within the main themes. Findings show a relatively stable pattern of research for some topics and the influence of market conditions on others. The extracted research topics comprise the intellectual core of real estate research. Journal: Journal of Real Estate Literature Pages: 59-76 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090347 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090347 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:59-76 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090348_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Donald Epley Author-X-Name-First: Donald Author-X-Name-Last: Epley Title: A Local Property Yield Rate Using An Economic Indicator for Future Growth Abstract: This paper develops the relationship between local economic growth and the overall property discount rate. A measure of local growth is calculated based on the value the local workforce contributes to the local economy through wages and salaries. Future levels of growth are projected using exponential smoothing in a best-fitting regression equation that is updated quarterly. The growth projection is used with an estimate of the overall capitalization rate for office buildings to derive the overall yield rate that can be updated quarterly. The result provides a procedure to derive projected yield rates that is conceptually correct, relies on available data, and can be updated quarterly. Journal: Journal of Real Estate Literature Pages: 107-123 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090348 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090348 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:107-123 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090349_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 131-137 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090349 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090349 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:131-137 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090350_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sean Salter Author-X-Name-First: Sean Author-X-Name-Last: Salter Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 125-129 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090350 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090350 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:125-129 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090351_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Review Journal: Journal of Real Estate Literature Pages: 139-143 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090351 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090351 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:139-143 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090352_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: James DeLisle Author-X-Name-First: James Author-X-Name-Last: DeLisle Author-Name: Terry Grissom Author-X-Name-First: Terry Author-X-Name-Last: Grissom Title: An Empirical Study of the Efficacy of Mixed-Use Development: The Seattle Experience Abstract: Over the past decade mixed-use real estate has received significant attention amongst real estate practitioners including both developers and city/ regional planners. This attention is understandable especially in light of renewed interest in urban revitalization and sustainable real estate development. Unfortunately, little empirical research has been conducted to identify the critical success factors for mixed-use development. This paper addresses this void and explores some fundamental questions surrounding when, why, and where mixed-use development is viable. It begins with an extensive literature review to help identify issues surrounding mixed-use development. It then explores some ‘‘lessons learned’’ in mixed-use development in Seattle where such projects have been encouraged by policy makers and other constituencies. Journal: Journal of Real Estate Literature Pages: 25-57 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090352 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090352 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:25-57 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090353_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Eda Ustaoglu Author-X-Name-First: Eda Author-X-Name-Last: Ustaoglu Author-Name: Ali Türel Author-X-Name-First: Ali Author-X-Name-Last: Türel Author-Name: Alper Güzel Author-X-Name-First: Alper Author-X-Name-Last: Güzel Title: Evaluating the Functional Utility Characteristics of Office Buildings: A Case Study of the Office Market in Ankara, Turkey Abstract: We apply the hedonic approach to the office property in Ankara and examine office rent determinants and their effects on rental variations. A hedonic regression model is utilized for the estimation of rent indices by using cross-sectional data including 251 office units in Ankara. Two different models were constructed in order to identify and evaluate the impact of location on the rental variations. The results identify the attributes (i.e., existence of a CPI escalation in the lease and vertical location of the office unit in the building) as proxies for the locational characteristics. Findings also suggest that locational characteristics have the greatest effect on the rental prices of the office units. The results of non-nested tests support the model incorporating locational attributes. Overall, the locational characteristics explain the spatial rent variations of the office property in Ankara to a large extent. Journal: Journal of Real Estate Literature Pages: 79-103 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090353 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090353 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:79-103 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090354_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090354 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090354 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090355_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joshua Fairbanks Author-X-Name-First: Joshua Author-X-Name-Last: Fairbanks Author-Name: Paul Goebel Author-X-Name-First: Paul Author-X-Name-Last: Goebel Author-Name: Michael Morris Author-X-Name-First: Michael Author-X-Name-Last: Morris Author-Name: William Dare Author-X-Name-First: William Author-X-Name-Last: Dare Title: A Monte Carlo Exploration of the Vertical Property Tax Inequity Models: Searching for a ‘Best’ Model Abstract: We apply vertical inequity models to real estate data from Lubbock, Texas. We use Monte Carlo simulations to explore the performance of each inequity model. We generate eight different contrived inequity patterns from three different data-generating processes, which create 24 stylized data sets. The first data-generating process treats assessed values as a noisy function of sale prices, which reflect home values. The second process considers the sale price as a noisy function of assessed values. The final process considers both sale prices and assessed values to be a noisy measure of home values. Although our findings do not yield a “best” model, the results allow us to draw some conclusions and provide practitioners and academics with a road map to test for vertical tax inequity in future real estate data. Journal: Journal of Real Estate Literature Pages: 3-24 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090355 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090355 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:3-24 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090356_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: bmi-bmxix Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090356 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090356 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:bmi-bmxix Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090357_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: J. Andrew Hansz Author-X-Name-First: J. Andrew Author-X-Name-Last: Hansz Title: Current Journals Journal: Journal of Real Estate Literature Pages: 145-178 Issue: 1 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090357 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090357 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:145-178 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090358_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: 348-367 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090358 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090358 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:348-367 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090359_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Real Estate Literature Pages: 1-10 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090359 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090359 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:1-10 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090360_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Steven Bourassa Author-X-Name-First: Steven Author-X-Name-Last: Bourassa Author-Name: Donald Haurin Author-X-Name-First: Donald Author-X-Name-Last: Haurin Author-Name: Patric Hendershott Author-X-Name-First: Patric Author-X-Name-Last: Hendershott Author-Name: Martin Hoesli Author-X-Name-First: Martin Author-X-Name-Last: Hoesli Title: Mortgage Interest Deductions and Homeownership: An International Survey Abstract: The aim of this paper is to review the international evidence on the impacts of mortgage interest deductions (MID) on homeownership rates. To understand the relationship between the deductions and ownership rates, we develop a model of housing tenure choice. In that model, the probability of becoming a homeowner is a function of the relative cost of owning and renting, borrowing constraints, household income, and a set of taste variables. The relative cost of owning and renting is a function of house prices and the annual user cost of owner-occupied housing. Tax policies affect the user cost of owner-occupied housing and, in turn, the probability of becoming a homeowner. They also affect the price of housing due to capitalization effects. The empirical evidence suggests that, contrary to popular wisdom, the deduction generally does not increase the ownership rate. This result is likely due to the fact that the MID is capitalized into house prices, especially where housing supply is inelastic. Journal: Journal of Real Estate Literature Pages: 181-203 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090360 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090360 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:181-203 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090361_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Clifford Lipscomb Author-X-Name-First: Clifford Author-X-Name-Last: Lipscomb Author-Name: Abigail Mooney Author-X-Name-First: Abigail Author-X-Name-Last: Mooney Author-Name: John Kilpatrick Author-X-Name-First: John Author-X-Name-Last: Kilpatrick Title: Do Survey Results Systematically Differ from Hedonic Regression Results? Evidence from a Residential Property Meta-Analysis Abstract: In this paper, we evaluate the effect of environmental contamination situations on residential property values. Using the meta-analysis technique, conclusions are drawn about the effect of location, type of study conducted, empirical technique used, and economic conditions on various outcomes. Using observations extracted from 40 peer-reviewed articles, meta-regression analysis is used to identify the factors that explain variation in marginal willingness to pay for environmental amenities and disamenities as a percentage of the average unimpaired value of local residential properties. Our findings suggest that relatively similar property value diminution conclusions are obtained regardless of the methodological approach employed. Additionally, we find no evidence of ‘‘publication bias’’ in our results. Journal: Journal of Real Estate Literature Pages: 233-253 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090361 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090361 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:233-253 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090362_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Prashant Das Author-X-Name-First: Prashant Author-X-Name-Last: Das Author-Name: Vivek Sah Author-X-Name-First: Vivek Author-X-Name-Last: Sah Author-Name: Divyanshu Sharma Author-X-Name-First: Divyanshu Author-X-Name-Last: Sharma Author-Name: Vinod Singh Author-X-Name-First: Vinod Author-X-Name-Last: Singh Author-Name: Louis Galuppo Author-X-Name-First: Louis Author-X-Name-Last: Galuppo Title: Real Estate Development Process in India Abstract: Real estate development in emerging markets lacks transparency and is rather a ‘black box’ to foreign direct investors. We apply an empirical method to compare the real estate development process in an emerging market with a U.S. benchmark model. In particular, through a detailed survey of real estate development managers in India, we find evidence that firms that are larger, older, operate in smaller cities or are not seeking foreign investment significantly differ in the development process from the benchmark model. Based on the responses, we apply the method to propose a five stage real estate development process model for India. We offer a simple method to quantify the cross-national differences and scientifically generalize the processes in the opaque emerging markets. Journal: Journal of Real Estate Literature Pages: 271-292 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090362 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090362 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:271-292 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090363_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Fred Lazar Author-X-Name-First: Fred Author-X-Name-Last: Lazar Author-Name: Eliezer Prisman Author-X-Name-First: Eliezer Author-X-Name-Last: Prisman Title: Valuing Historical Land Claims and Its Loss of Use Abstract: Historical land claims commonly arise in disputes between government and the former inhabitants of the land. These claims typically relate to a past damage caused either by inadequate compensation or by inappropriate taking of the land. There are opinions voiced in the literature that these claims should be valued differently by the prospective and retrospective approach, respectively. This paper shows the deficiencies and perverse motivation for claims including the optimal timing of the claim induced by the retrospective approach. A new way of valuing the damage that is in the spirit of the prospective approach rooted in modern financial theory and option pricing is suggested and justified. This approach alleviates some deficiencies and spares the need for a long sequence of historical asset prices that are not readily available. Hence, it makes settling such disputes easier and increases the likelihood of arbitration instead of costly court cases. Journal: Journal of Real Estate Literature Pages: 317-325 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090363 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090363 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:317-325 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090364_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 335-341 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090364 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090364 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:335-341 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090365_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ron Throupe Author-X-Name-First: Ron Author-X-Name-Last: Throupe Author-Name: Robert Simons Author-X-Name-First: Robert Author-X-Name-Last: Simons Author-Name: Xue Mao Author-X-Name-First: Xue Author-X-Name-Last: Mao Title: A Review of Hydro “Fracking” and Its Potential Effects on Real Estate Abstract: In this paper we review the phenomena of hydro ‘‘fracking’’ operations for oil and gas in the United States. We provide background information on fracking, a summary of federal and state fracking disclosure and management regulations, and an evaluation of the potential surface and subsurface effects. We then examine case studies of claims of contamination from several shale-heavy states. Lastly, we report the results of survey research related to proximity to fracking operations in Texas and Florida. Our contingent valuation surveys show a 5%–15% reduction in bid value for homes located proximate to fracking scenarios, depending on the petroleum-friendliness of the venue and proximity to the drilling site. Journal: Journal of Real Estate Literature Pages: 205-232 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090365 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090365 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:205-232 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090366_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kimberly Winson-Geideman Author-X-Name-First: Kimberly Author-X-Name-Last: Winson-Geideman Author-Name: Nicholas Evangelopoulos Author-X-Name-First: Nicholas Author-X-Name-Last: Evangelopoulos Title: Research in Real Estate, 1973-2010: A Three-Journal Comparison Abstract: This research compares Real Estate Economics, the Journal of Real Estate Finance and Economics, and the Journal of Real Estate Research in terms of their intellectual contribution to the real estate discipline. The 25 topics of real estate research identified by Winson-Geideman and Evangelopoulos (2013) are used as a basis for a comparison of topic emphases within the three journals. Findings show a shared group of topics, comprising the intellectual core of real estate research, as well as the specific thematic focus of each journal. Analysis of the dynamics in topic emphasis indicates a slow convergence of the three journals, suggesting that the discipline's maturation is accompanied by a process of scope clarification. Journal: Journal of Real Estate Literature Pages: 255-267 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090366 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090366 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:255-267 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090367_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Luis Gil-Alana Author-X-Name-First: Luis Author-X-Name-Last: Gil-Alana Author-Name: Goodness Ave Author-X-Name-First: Goodness Author-X-Name-Last: Ave Author-Name: Rangan Gupta Author-X-Name-First: Rangan Author-X-Name-Last: Gupta Title: Testing for Persistence in South African House Prices Abstract: This study examines the time series behavior of South African house prices within a fractional integration modeling framework while identifying potential breaks and outliers. We used quarterly data on the six house price indexes, namely affordable, luxury, middle-segment (all sizes, large, medium, and small sizes), covering 1966: Q1-2012:Q1 for the different middle-segments, 1966:Q3-2012:Q1 for the luxury segment, and 1969:Q4-2012:Q1 for the affordable segment. In general, there is persistence in South African house prices with breaks identified. Our results show that in the cases of affordable and luxury, shocks will be transitory, disappearing in the long run, while for the remaining four series of the middle-segment, shocks will be permanent. Hence, for the middle-segment series, strong policy measures must be adopted in the event of negative shocks, in order to recover the original trends. Journal: Journal of Real Estate Literature Pages: 293-314 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090367 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090367 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:293-314 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090368_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sean Salter Author-X-Name-First: Sean Author-X-Name-Last: Salter Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 327-334 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090368 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090368 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:327-334 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090369_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Review Journal: Journal of Real Estate Literature Pages: 343-347 Issue: 2 Volume: 21 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2013.12090369 File-URL: http://hdl.handle.net/10.1080/10835547.2013.12090369 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:21:y:2013:i:2:p:343-347 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090370_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Louis Wilde Author-X-Name-First: Louis Author-X-Name-Last: Wilde Author-Name: Jack Williamson Author-X-Name-First: Jack Author-X-Name-Last: Williamson Author-Name: Christopher Loos Author-X-Name-First: Christopher Author-X-Name-Last: Loos Title: A Long-Term Study of the Effect of a Natural Gas Pipeline on Residential Property Values Abstract: We use hedonic regression models to study the effects of proximity to a natural gas pipeline on residential property values in a master-planned community in Clark County, Nevada. The study covers over two decades, from the initial build-out of the area through the real estate boom and bust of the 2000s. We do not find any effects associated with proximity to the natural gas pipeline, either at or after the time of the initial takings, after a later change in the allowable pressure on the pipeline, or after the 2010 incident in San Bruno, California. Journal: Journal of Real Estate Literature Pages: 47-65 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090370 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090370 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:47-65 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090371_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nicholas Apergis Author-X-Name-First: Nicholas Author-X-Name-Last: Apergis Author-Name: Beatrice Simo-Kengne Author-X-Name-First: Beatrice Author-X-Name-Last: Simo-Kengne Author-Name: Rangan Gupta Author-X-Name-First: Rangan Author-X-Name-Last: Gupta Title: The Long-Run Relationship Between Consumption, House Prices, and Stock Prices in South Africa: Evidence from Provincial-level Data Abstract: We examine whether strong increases in housing and stock prices have helped sustain consumption across provinces in South Africa from 1995 to 2011. We implement panel cointegration techniques that allow us to circumvent the data restrictions, providing that observations are pooled across provinces. The empirical results provide strong evidence that household consumption adjusts to both house price and stock price fluctuations. More interestingly, the increase in consumption due to house price appreciation (housing wealth effect) is smaller than that generated by the rise in stock prices (stock market wealth effect), possibly suggesting a high stock market capitalization in South Africa. Additionally, we find a bidirectional causality between consumption and both forms of wealth in the long-run, implying that changes in consumption can be used to predict housing and stock price movements and vice versa. Further, the long-run elasticity of income with respect to consumption is found to be not significantly different from unity, therefore corroborating the permanent income hypothesis. Journal: Journal of Real Estate Literature Pages: 83-99 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090371 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090371 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:83-99 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090372_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sean Salter Author-X-Name-First: Sean Author-X-Name-Last: Salter Title: Doctoral Dissertations Journal: Journal of Real Estate Literature Pages: 127-134 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090372 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090372 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:127-134 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090373_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front matter Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090373 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090373 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090374_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 141-146 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090374 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090374 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:141-146 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090375_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Chaitra Nagaraja Author-X-Name-First: Chaitra Author-X-Name-Last: Nagaraja Author-Name: Lawrence Brown Author-X-Name-First: Lawrence Author-X-Name-Last: Brown Author-Name: Susan Wachter Author-X-Name-First: Susan Author-X-Name-Last: Wachter Title: Repeat Sales House Price Index Methodology Abstract: We compare four traditional repeat sales indices to a recently developed autoregressive index that makes use of the repeat sales methodology but incorporates single sales and a location effect. Qualitative comparisons on statistical issues including the effect of gap time on sales, use of hedonic information, and treatment of single and repeat sales are addressed. Furthermore, predictive ability is used as a quantitative metric in the analysis using data from home sales in 20 metropolitan areas in the United States. The indices tend to track each other over time; however, the differences are substantial enough to be of interest, and we find that the autoregressive index performs best overall. Journal: Journal of Real Estate Literature Pages: 23-46 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090375 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090375 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:23-46 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090376_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: George Cashman Author-X-Name-First: George Author-X-Name-Last: Cashman Author-Name: Joshua Fairbanks Author-X-Name-First: Joshua Author-X-Name-Last: Fairbanks Title: Acknowledging Contributions to the Real Estate Literature Abstract: In this paper, we study contributions to real estate research by individuals and institutions from 2000 to 2012. Specifically, we rank individuals by the total number of papers published in five well-known journals: Real Estate Economics, Journal of Real Estate Research, Journal of Real Estate Finance and Economics, Journal of Real Estate Portfolio Management, and Journal of Housing Research. Our findings indicate that a select number of scholars attain a notably high rank in each journal. We also identify authors that publish at least one paper in each of the five journals. We name these scholars “Grand Slam Authors.” We rank institutions by the contributions of their faculty and graduates. The majority of institutions rank in the top 25 along multiple dimensions. Journal: Journal of Real Estate Literature Pages: 3-22 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090376 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090376 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:3-22 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090377_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Arvydas Jadevicius Author-X-Name-First: Arvydas Author-X-Name-Last: Jadevicius Author-Name: Ali Parsa Author-X-Name-First: Ali Author-X-Name-Last: Parsa Title: An Empirical Analysis of Real Estate Cycles in the Lithuanian Housing Market Abstract: In this paper, we analyze real estate cycles in the Lithuanian housing market. The literature has shown that in the context of the Lithuanian real estate examination, researchers employed mostly a formal turning point analysis or descriptive statistics to examine the cyclical nature of the Lithuanian housing market. An econometric assessment of the national real estate market is therefore called-in. We employed the Hodrick-Prescott filter to de-trend selected series. The findings indicate that Lithuanian house prices follow a three-year cycle. These results are however time-dependent, whereas fluctuations in the Lithuanian housing market vary. Our insights into the cyclical activity in the national housing market can be usefully employed by real estate market participants. Journal: Journal of Real Estate Literature Pages: 69-81 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090377 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090377 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:69-81 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090378_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jean Dubé Author-X-Name-First: Jean Author-X-Name-Last: Dubé Author-Name: Dìego Legros Author-X-Name-First: Dìego Author-X-Name-Last: Legros Title: Spatial Econometrics and Spatial Data Pooled over Time: Towards an Adapted Modeling Approach Abstract: In this paper, we address the possible problem related to using strictly spatial modeling techniques for spatial data pooled over time. For these data, such as real estate, the spatial dimension is present, but subject to constraints related to temporal dimension. Three empirical examples are presented to investigate the impact of neglecting the temporal dimension in spatial analysis and to show how such an approach overestimates the pattern of spatial dependence, along with the estimated spatial autoregressive coefficient. If generalized to all other empirical applications, this conclusion may have important considerations if one tries to measure the effect of extrinsic amenities on house prices. Journal: Journal of Real Estate Literature Pages: 103-125 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090378 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090378 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:103-125 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090379_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 135-140 Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090379 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090379 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:135-140 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090380_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back matter Journal: Journal of Real Estate Literature Pages: bmi-bmxvii Issue: 1 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090380 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090380 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:1:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090381_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: 313-330 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090381 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090381 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:313-330 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090382_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael Seiler Author-X-Name-First: Michael Author-X-Name-Last: Seiler Title: Understanding the Far-Reaching Societal Impact of Strategic Mortgage Default Abstract: In this article, the often overlooked ramifications of strategic mortgage default and the widespread implications it has on our sense of community, economic, and financial stability, as well as mental and physical well-being are discussed. Too often studies examine only the one-off economic effects of strategic default, or more broadly, the foreclosure contagion effect. But, recent work in the mainstream finance literature indicates that larger picture issues such as national healthcare costs are also substantially impacted by major market movements like the recent housing bubble in the United States. Journal: Journal of Real Estate Literature Pages: 205-214 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090382 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090382 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:205-214 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090383_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Solomon Akinbogun Author-X-Name-First: Solomon Author-X-Name-Last: Akinbogun Author-Name: Colin Jones Author-X-Name-First: Colin Author-X-Name-Last: Jones Author-Name: Neil Dunse Author-X-Name-First: Neil Author-X-Name-Last: Dunse Title: The Property Market Maturity Framework and its Application to a Developing Country: The Case of Nigeria Abstract: In this paper, we explore the concept of property market maturity as it relates to the residential property market in Nigeria. It builds on the market maturity framework, which was primarily developed to compare office property markets in European countries. We adapt the market maturity criteria to incorporate a checklist of characteristics applicable to a developing country. It recognizes the priority of place occupied by information in the determination of property market maturity in European office markets but argues that this stems from a sophisticated land registration system. The level of compliance with planning is an important criterion affecting the state of market maturity missing from the original elaboration. Journal: Journal of Real Estate Literature Pages: 217-232 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090383 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090383 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:217-232 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090384_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Boris Portnov Author-X-Name-First: Boris Author-X-Name-Last: Portnov Author-Name: Sagi Akron Author-X-Name-First: Sagi Author-X-Name-Last: Akron Title: Identification of Housing Market Trends and Factors Affecting Them: The Greater Haifa Metropolitan Area in Israel as a Case Study Abstract: We analyzed monthly averages of sale prices of 6,198 residential properties in the Greater Haifa Metropolitan Area, recorded between January 1998 and October 2011. We found the statistical significance of different price influencing factors appeared to change during different phases of housing price formation, with the association between housing prices, on the one hand, and credit and housing supply factors, on the other, being especially strong during the price acceleration phase. We also introduced in the analysis 1st and 2nd derivatives of housing price trend lines, estimated using polynomial smoothing. Although “public sentiments” about housing price trends may influence both supply and demand, they cannot always be modeled directly. Our modeling approach, based on price derivative analysis, may help to capture such sentiments, thus improving the robustness of empirical models used as explanatory tools and for forecasting. Journal: Journal of Real Estate Literature Pages: 177-203 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090384 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090384 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:177-203 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090385_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Woei Chyuan Wong Author-X-Name-First: Woei Chyuan Author-X-Name-Last: Wong Author-Name: Janice Lee Author-X-Name-First: Janice Author-X-Name-Last: Lee Author-Name: Md Nasir Daud Author-X-Name-First: Md Nasir Author-X-Name-Last: Daud Author-Name: Pooi Leng Ng Author-X-Name-First: Pooi Leng Author-X-Name-Last: Ng Author-Name: Wai Seen Chan Author-X-Name-First: Wai Seen Author-X-Name-Last: Chan Title: Strategic Development of Property Auctions Market in Malaysia Abstract: Despite its existence in the property market scene for over a century, little is known about the property auction market in Malaysia. We analyze the types, size, occurrence, and performance of property auctions in Malaysia. In comparison to mature markets such as Australia and New Zealand, the auction market in Malaysia is relatively small (0.03% of total property sales) and dominated by distress or foreclosure sales. Outdated laws coupled with an unregulated auction environment have generated myriad challenges among which are the presence of syndicates (dummy bidders) and negative stigma associated with auctions. We highlight initiatives that could be taken by policymakers to revitalize the property auction market in Malaysia. Journal: Journal of Real Estate Literature Pages: 261-278 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090385 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090385 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:261-278 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090386_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jack Harris Author-X-Name-First: Jack Author-X-Name-Last: Harris Title: Working Papers Journal: Journal of Real Estate Literature Pages: 303-308 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090386 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090386 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:303-308 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090387_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Justin Benefield Author-X-Name-First: Justin Author-X-Name-Last: Benefield Author-Name: Christopher Cain Author-X-Name-First: Christopher Author-X-Name-Last: Cain Author-Name: Ken Johnson Author-X-Name-First: Ken Author-X-Name-Last: Johnson Title: A Review of Literature Utilizing Simultaneous Modeling Techniques for Property Price and Time-On-Market Abstract: The property price-marketing duration relationship is an important component of many real estate studies. However, contrary to theories, and widely-held notions of many researchers, the relationship is not as straightforward as generally assumed. In this paper, we summarize the literature and model price and marketing time to highlight the nature of the property price-marketing time tradeoff. As defined in this work, “simultaneous modeling” includes studies in which marketing time appears as a control in pricing models, as well as studies in which property price is used as a control in time-on-market models. Journal: Journal of Real Estate Literature Pages: 149-175 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090387 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090387 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:149-175 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090388_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Marco Simonotti Author-X-Name-First: Marco Author-X-Name-Last: Simonotti Author-Name: Francesca Salvo Author-X-Name-First: Francesca Author-X-Name-Last: Salvo Author-Name: Marina Ciuna Author-X-Name-First: Marina Author-X-Name-Last: Ciuna Title: Multilevel Methodology Approach for the Construction of Real Estate Monthly Index Numbers Abstract: In this paper, we evaluate price indices and hedonic price indices for Italian real estate data using multilevel models. The methodology is based on a random coefficient panel data model. We propose a Laspeyres-type price index and hedonic prices indexes based on some characteristics of the sold properties. The multilevel hierarchical analysis has the advantage of allowing the appraisal analysis for groups, and identified in the same sample data the hierarchical structures of market segmentation according to the parameters of the real estate segment. It allows getting a lot of regression functions as the number of groups identified. Obviously, this depends on the sample size and the variability between groups. Specifically, if the data are also grouped by date, the model allows an analysis of the time series which makes possible the calculation of index numbers and the overall monthly index numbers of real estate properties, consistent with collected data. Journal: Journal of Real Estate Literature Pages: 281-302 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090388 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090388 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:281-302 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090389_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Real Estate Literature Pages: 1-10 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090389 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090389 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:1-10 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090390_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dimitra Kavarnou Author-X-Name-First: Dimitra Author-X-Name-Last: Kavarnou Author-Name: Anupam Nanda Author-X-Name-First: Anupam Author-X-Name-Last: Nanda Title: Which Attributes Influence the Housing Markets Across the Greek Islands? Abstract: We analyze the drivers of the housing markets across the Greek Islands. Very little is known and documented about these markets in the literature. By reviewing the extant literature on housing market drivers in general, we delineate how various attributes characterize these housing markets. Heterogeneity in terms of properties, neighborhoods, settlements, islands, and groups of islands contributes to a diverse housing market. At the same time, the political environment, the recent economic recession, complex and unstable institutional frameworks, as well as being an increasingly popular tourist destination have created an environment with considerable housing research interest. By using a unique dataset of properties, we apply the hedonic modelling framework to ascertain the impacts of certain amenities and drivers that may affect housing values and market functioning across the Greek Islands. Our results, while confirming the standard results from the broad literature, also reveal some distinctive effects in the Greek Islands. Journal: Journal of Real Estate Literature Pages: 233-260 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090390 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090390 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:233-260 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090391_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Review Journal: Journal of Real Estate Literature Pages: 309-312 Issue: 2 Volume: 22 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12090391 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12090391 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:22:y:2014:i:2:p:309-312 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090392_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Chris Manning Author-X-Name-First: Chris Author-X-Name-Last: Manning Author-Name: John W. O'Neill Author-X-Name-First: John W. Author-X-Name-Last: O'Neill Author-Name: A.J. Singh Author-X-Name-First: A.J. Author-X-Name-Last: Singh Author-Name: Steve Hood Author-X-Name-First: Steve Author-X-Name-Last: Hood Author-Name: Crocker Liu Author-X-Name-First: Crocker Author-X-Name-Last: Liu Author-Name: Barry A.N. Bloom Author-X-Name-First: Barry A.N. Author-X-Name-Last: Bloom Title: The Emergence of Hotel/Lodging Real Estate Research Abstract: Research related to the real estate aspects of hotels and other lodging forms is an understudied but emerging area of academic study. Real estate education and research in most collegiate real estate programs historically have focused on the traditional forms of real estate (i.e., office buildings, retail centers, industrial buildings, apartment complexes, and other housing forms); rarely is the study of hotels and other lodging forms addressed. Nevertheless, hotels and other lodging properties (e.g., motels) constitute a major, albeit specialized, real estate property type that is under researched in most university real estate programs. In this paper, we provide a more comprehensive perspective from which real estate faculty may think about hotel/lodging real estate. Journal: Journal of Real Estate Literature Pages: 1-25 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090392 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090392 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:1-25 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090393_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Guojie Ma Author-X-Name-First: Guojie Author-X-Name-Last: Ma Author-Name: David Michayluk Author-X-Name-First: David Author-X-Name-Last: Michayluk Title: Takeovers and the Market for Corporate Control in Japanese REITs Abstract: Japanese real estate investment trusts (J-REITs) were established in 2001. They have rapidly grown in number and size and there have been many J-REIT mergers following the Global Financial Crisis (GFC). J-REITs typically have a common ownership that renders most takeovers friendly, therefore the motivation for mergers is likely related to financial hardship. We examine the market response and the post- merger performance of these J-REIT mergers. We find significant abnormal trading volume for both surviving and absorbed J-REITs in the immediate days before the merger. Absorbed J-REITs suffer a significantly negative return in the two days before the merger announcement and there is no observed improvement in the post-merger operating performance. Unlike other mergers in Japan, the merger premium for J-REITs is inversely predictive of post-merger performance. Journal: Journal of Real Estate Literature Pages: 115-137 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090393 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090393 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:115-137 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090394_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Donald R. Epley Author-X-Name-First: Donald R. Author-X-Name-Last: Epley Title: Using Deductive Reasoning to Build a Local Property Capitalization Rate from the Capital Market and the Internet Abstract: This paper illustrates a new unique method to estimate a local capitalization rate using Internet data available in every office. It relies on the initial belief that all capitalization rates must begin with a national rate, which is adjusted by local market conditions for a specific land use. A major contribution is the illustration and recommendation of a new approach that relies on deductive reasoning from the national to the local markets rather than the traditional inferential approach that relies totally on local transactions. The conclusion is a new method to estimate a local capitalization rate should be added to every appraiser's toolkit to analyze market rates and values. Journal: Journal of Real Estate Literature Pages: 139-156 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090394 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090394 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:139-156 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090395_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 157-162 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090395 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090395 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:157-162 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090396_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas A. Musil Author-X-Name-First: Thomas A. Author-X-Name-Last: Musil Title: Facilities Change Management Journal: Journal of Real Estate Literature Pages: 163-166 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090396 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090396 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:163-166 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090397_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Andrew R. Sanderford Author-X-Name-First: Andrew R. Author-X-Name-Last: Sanderford Author-Name: C. Theodore Koebel Author-X-Name-First: C. Theodore Author-X-Name-Last: Koebel Author-Name: Andrew P. McCoy Author-X-Name-First: Andrew P. Author-X-Name-Last: McCoy Title: Establishing the Framework for the Green Housing Information Chasm: A Critical Review of the Literature Abstract: Green and energy-efficient technology and certification diffusion into the housing market could be significantly attenuated by limited or missing information. In this paper, we analyze this problem and respond to the question “what diffusion patterns would we expect based on the problem of valuation of green homes in the absence of comparable attribute data supporting their value proposition?” Further, we identify the problem in the context of the diffusion theory and the condition of inadequate information about the performance of these innovations. High-performance homes reflect green building innovations that involve non-trivial costs. Diffusion theory is a hypothesis used to outline the challenges faced by early-stage innovations, including those faced as they move from early-stage markets across Moore's chasm into more mainstream markets. Journal: Journal of Real Estate Literature Pages: 27-52 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090397 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090397 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:27-52 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090398_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kiplan S. Womack Author-X-Name-First: Kiplan S. Author-X-Name-Last: Womack Title: Real Options and Urban Land Values: A Review of the Literature Abstract: The central and unifying theme of this review is the value of urban land and its effect on investments in durable capital. More specifically, because structures are expensive to build, have an extensive construction time, and are long lasting, investments in durable capital entail a significant degree of uncertainty and irreversibility. I examine the estimation of the redevelopment option and explore the relationship between real options and land values. I also examine the determinants of the decision to redevelop physical capital either in whole (teardowns) or in part (renovations). Overall, this critical analysis contributes to a better understanding of urban land values by unifying the real option and redevelopment decision literatures within a broader context of real estate valuation. Both academics and practitioners should find the analysis relevant to their own real estate studies or investment decisions. Journal: Journal of Real Estate Literature Pages: 53-63 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090398 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090398 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:53-63 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090399_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Hong Zhang Author-X-Name-First: Hong Author-X-Name-Last: Zhang Author-Name: Shuai Gao Author-X-Name-First: Shuai Author-X-Name-Last: Gao Author-Name: Michael J. Seiler Author-X-Name-First: Michael J. Author-X-Name-Last: Seiler Author-Name: Yang Zhang Author-X-Name-First: Yang Author-X-Name-Last: Zhang Title: Identification of Real Estate Cycles in China Based on Artificial Neural Networks Abstract: In this paper, we use artificial neural networks to determine the real estate cycle in China. We identify its development phases based on 1993–2008 historical training samples. The results indicate that China's real estate market has oscillational characteristics and the artificial neural networks have predictive accuracy. In the context of continuously deepening governmental interventions, the volatility in real estate cycles has become more evident since 2008, when the market reached its peak in 2009, but quickly plunged into recession in 2010, and approached its trough in 2011. A series of governmental macro-control policies since 2008 have had tremendous impact on the duration and frequency of China's real estate cycles via actions aimed at controlling the expansion of the real estate industry. Journal: Journal of Real Estate Literature Pages: 65-83 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090399 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090399 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:65-83 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090400_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Giuseppe Galloppo Author-X-Name-First: Giuseppe Author-X-Name-Last: Galloppo Author-Name: Luigi Mundula Author-X-Name-First: Luigi Author-X-Name-Last: Mundula Title: Analysis of Closed Real Estate Funds in Italy Abstract: In this paper, we examine closed real estate funds, comparing the Italian case with the international closed real estate fund market. We study whether the “public hand” has acted in an efficient market way to achieve return results in line with private competitors. In the last 10 years, international closed real estate funds have had an annual average of 0.5%. This result represents a very poor performance when compared with the returns offered by international bonds (5.6%) or international l equity markets (6.9%). This positive trend, however, is not followed by the closed real estate investment fund sponsored by the Italian government. On average, during the recent financial crisis, the returns of the international closed real estate funds in the euro area increased by more than 14 percentage points, while those of the Swiss franc area were about 1.5%. Journal: Journal of Real Estate Literature Pages: 85-113 Issue: 1 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090400 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090400 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:1:p:85-113 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090401_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: 397-415 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090401 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090401 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:397-415 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090402_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Real Estate Literature Pages: 1-10 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090402 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090402 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:1-10 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090403_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Timothy Jones Author-X-Name-First: Timothy Author-X-Name-Last: Jones Author-Name: G. Stacy Sirmans Author-X-Name-First: G. Stacy Author-X-Name-Last: Sirmans Title: The Underlying Determinants of Residential Mortgage Default Abstract: Mortgage default rates rose dramatically during the recent housing market downturn, increasing from less than 1% to historically high levels. Understanding the rise in mortgage default is critical for many market participants including borrowers, lenders, investors, regulators, and policymakers. We provide a comprehensive analysis of this topic by surveying nearly 100 empirical and theoretical studies related to mortgage default. Topics in the mortgage default literature are reviewed, including (1) the determinants of mortgage termination, (2) the relative termination experience of FRMs and ARMs, (3) screening and signaling equilibriums, and (4) loan loss severity and severity rates. The implications of each topic are discussed for each group of market participants. Journal: Journal of Real Estate Literature Pages: 167-205 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090403 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090403 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:167-205 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090404_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Bartley R. Danielsen Author-X-Name-First: Bartley R. Author-X-Name-Last: Danielsen Author-Name: Joshua C. Fairbanks Author-X-Name-First: Joshua C. Author-X-Name-Last: Fairbanks Author-Name: Jing Zhao Author-X-Name-First: Jing Author-X-Name-Last: Zhao Title: School Choice Programs: The Impacts on Housing Values Abstract: We review both the theoretical and empirical literature relating to the impact of school choice programs, particularly voucher programs, on residential property values. Beginning with the seminal works of Charles Tiebout (1956) and Thomas Nechyba (1999, 2000, 2003), we describe the sorting equilibrium theories that arise in the context of public school assignments based strictly on geographic catchment areas. We then consider the implications of allowing students to attend schools other than those to which they are assigned, particularly in a school voucher context. Finally, we review the empirical tests of these theories to date. The important concepts addressed in this paper are: (1) assigned schools lead to a separating equilibrium that results in segregation on the basis of income, school quality, and property values; and (2) school choice programs undermine this separating equilibrium by severing the link between place of residence and school assignment. Journal: Journal of Real Estate Literature Pages: 207-232 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090404 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090404 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:207-232 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090405_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Benjamin M. Blau Author-X-Name-First: Benjamin M. Author-X-Name-Last: Blau Author-Name: Nga Nguyen Author-X-Name-First: Nga Author-X-Name-Last: Nguyen Author-Name: Ryan J. Whitby Author-X-Name-First: Ryan J. Author-X-Name-Last: Whitby Title: The Distribution of REIT Liquidity Abstract: In this study, we examine the distribution of market liquidity for a broad sample of real estate investment trusts (REITs). While prior research has focused on the average liquidity of REITs, we extend our analysis to include both the variability and skewness of liquidity, both of which have important implications. Excess variability in liquidity could present future uncertainty about the level of liquidity for REIT investors, which could impact returns as well as the efficacy of investment management. Increased skewness of liquidity is indicative of increased competition among market makers, which can result in better functioning financial markets. Our multivariate tests show that, consistent with the literature, average bid-ask spreads are higher for REITs than for non-REITs. We also find that the variability of bid-ask spreads is larger for REITs than for non-REITs and that the skewness of REIT bid-ask spreads has not only increased across time, but has also increased at a greater rate than the skewness of non-REIT spreads. Journal: Journal of Real Estate Literature Pages: 233-252 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090405 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090405 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:233-252 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090406_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (REAL) Rankings for 2011–2015 Abstract: The intellectual contributions of real estate to the larger body of knowledge makes real estate interdisciplinary, often creating difficulty related to where real estate publications stand compared to the traditional disciplines of economics, finance, marketing, urban studies, public administration, and sociology. The purpose of the Real Estate Academic Leadership (REAL) rankings is to highlight the authors and institutions demonstrating achievement in intellectual contributions to the field of real estate. The rankings provide an opportunity to measure the authors and institutions engaged in real estate research against one another. Moreover, for those being evaluated for promotion and tenure, REAL offers a source for evaluation relative to one's peers. Ultimately, the REAL rankings index allows outside institutions and individuals to understand where the greatest occurrence of high-level research is currently being conducted.It is widely documented and accepted in the peer-reviewed literature that the top three real estate journals are the Journal of Real Estate Finance and Economics, the Journal of Real Estate Research, and Real Estate Economics. These three journals serve as the basis for the REAL author and institutional rankings. Over time, should existing real estate journals rise in prominence, or should one of these journals be deemed less worthy, the core journals for these rankings may also change. Journal: Journal of Real Estate Literature Pages: 253-257 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090406 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090406 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:253-257 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090407_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Omokolade Akinsomi Author-X-Name-First: Omokolade Author-X-Name-Last: Akinsomi Author-Name: Radiyya Pahad Author-X-Name-First: Radiyya Author-X-Name-Last: Pahad Author-Name: Lebogang Nape Author-X-Name-First: Lebogang Author-X-Name-Last: Nape Author-Name: Joshua Margolis Author-X-Name-First: Joshua Author-X-Name-Last: Margolis Title: Geographic Diversification Issues in Real Estate Markets in Africa Abstract: The purpose of this paper is to establish the barriers to entry in African real estate markets from a South African investor's perspective. Questionnaires were administered to 36 listed property companies on the Johannesburg Stock Exchange and data on diversification strategies was gathered from annual reports. We find that property rights are the most substantial market selection criteria that South African listed real estate companies consider and the main barrier to entry into the African markets is legal and title risk. We also find that geographic diversification within South Africa is a strategy mostly adopted by listed South African real estate companies. Central Africa is ranked as the region with the highest criteria for barriers to entry while Nigeria ranked highest in terms of country. Ghana is an investment destination for South African real estate investors. For African countries to attract real estate investment from South Africa, they need to improve their legal and property rights regulations. Journal: Journal of Real Estate Literature Pages: 259-295 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090407 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090407 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:259-295 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090408_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Gert Abraham Lowies Author-X-Name-First: Gert Abraham Author-X-Name-Last: Lowies Author-Name: John Henry Hall Author-X-Name-First: John Henry Author-X-Name-Last: Hall Author-Name: Christiaan Ernst Cloete Author-X-Name-First: Christiaan Ernst Author-X-Name-Last: Cloete Title: The Role of Market Fundamentals versus Market Sentiment in Property Investment Decision-making in South Africa Abstract: In property markets, unlike capital markets, the quantity and quality of data available is limited. To compensate for deficiencies in data on market fundamentals available for property investment decision-making, fund managers may rely on market sentiment. Such deficiencies, together with possible mispricing in property assets, may lead to inefficiencies in property markets. We investigate the use of market sentiment and personal judgement, as opposed to market fundamentals, in property investment decision-making in South Africa. The results indicate that in the South African property investment context, market sentiment plays a smaller role than market fundamentals, unlike in some developed economies. Journal: Journal of Real Estate Literature Pages: 297-314 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090408 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090408 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:297-314 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090409_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dimitra Kavarnou Author-X-Name-First: Dimitra Author-X-Name-Last: Kavarnou Author-Name: Anupam Nanda Author-X-Name-First: Anupam Author-X-Name-Last: Nanda Title: House Price Dynamics in Panama City Abstract: In this paper, we analyze the drivers of the housing markets in Panama City. To the best of our knowledge, no formal academic analysis has been documented on the Panamanian housing market. In this paper, we outline key unique characteristics of the market and provide a brief review of broader economic indicators and housing market literature. Using a unique dataset comprising property-level information over 2007–2014, we employ a hedonic modeling framework to analyze the impacts of certain amenities and drivers that may affect housing values. The results indicate several unique features of the Panamanian housing market. Journal: Journal of Real Estate Literature Pages: 315-334 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090409 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090409 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:315-334 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090410_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Yang Zhang Author-X-Name-First: Yang Author-X-Name-Last: Zhang Author-Name: Hong Zhang Author-X-Name-First: Hong Author-X-Name-Last: Zhang Author-Name: Michael J. Seiler Author-X-Name-First: Michael J. Author-X-Name-Last: Seiler Title: A Theoretical and Simulation-based Examination of Single versus Dual Agent Models in China's Housing Market Abstract: We present and contrast a one-agent versus a two-agent theoretical model for residential real estate brokerage consideration in China's housing market. We also present a series of simulations that employ values present in the Chinese marketplace to identify which system should prevail in terms of degree of commission incentive, agent's search effort, and buyer's utility. We find that in the one-agent model, the search effort of the agent is greater, the buyer's commission incentive is lesser, and the buyer's utility is greater. Therefore, a rational buyer will choose to entrust a buying and selling agent instead of only using a buyer's agent. Journal: Journal of Real Estate Literature Pages: 335-351 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090410 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090410 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:335-351 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090411_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nicholas Evangelopoulos Author-X-Name-First: Nicholas Author-X-Name-Last: Evangelopoulos Author-Name: Triss Ashton Author-X-Name-First: Triss Author-X-Name-Last: Ashton Author-Name: Kimberly Winson-Geideman Author-X-Name-First: Kimberly Author-X-Name-Last: Winson-Geideman Author-Name: Stephen Roulac Author-X-Name-First: Stephen Author-X-Name-Last: Roulac Title: Latent Semantic Analysis and Real Estate Research: Methods and Applications Abstract: In this paper, we discuss the potential applications and methodological challenges of using latent semantic analysis (LSA) to analyze unstructured data in real estate research. LSA is a statistical tool that allows for the analysis of large bodies of textual data by identifying specific topics or themes within the data. The purpose of this paper is to review the use of LSA as a way to understand real estate issues and to provide insight on the practical utility of the method. A typology for data complexity in the real estate context is presented. An in-depth discussion of the analytic process as a series of specific steps is provided, followed by three applications that illustrate the methodological decisions made by the analyst when LSA is performed. Journal: Journal of Real Estate Literature Pages: 353-380 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090411 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090411 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:353-380 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090412_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 381-385 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090412 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090412 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:381-385 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090413_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Charles Schilke Author-X-Name-First: Charles Author-X-Name-Last: Schilke Title: The Advisor's Guide to Commercial Real Estate Investment. Journal: Journal of Real Estate Literature Pages: 387-394 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090413 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090413 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:387-394 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090414_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Charles C. Carter Author-X-Name-First: Charles C. Author-X-Name-Last: Carter Title: Inequality: What Can Be Done? Journal: Journal of Real Estate Literature Pages: 394-396 Issue: 2 Volume: 23 Year: 2015 Month: 1 X-DOI: 10.1080/10835547.2015.12090414 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12090414 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:23:y:2015:i:2:p:394-396 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090415_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Frank Ametefe Author-X-Name-First: Frank Author-X-Name-Last: Ametefe Author-Name: Steven Devaney Author-X-Name-First: Steven Author-X-Name-Last: Devaney Author-Name: Gianluca Marcato Author-X-Name-First: Gianluca Author-X-Name-Last: Marcato Title: Liquidity: A Review of Dimensions, Causes, Measures, and Empirical Applications in Real Estate Markets Abstract: In this article, we consider how different dimensions of liquidity have been measured in financial markets and for various forms of real estate investment. The purpose of this exercise is to establish the range of liquidity measures that could be used for real estate investments before considering which measures and questions have been investigated so far. Most measures reviewed here are applicable to public real estate, but not all can be applied to private real estate assets or funds. Use of a broader range of liquidity measures could help real estate researchers tackle issues such as quantification of illiquidity premia for the real estate asset class or different types of real estate, and how liquidity differences might be incorporated into portfolio allocation models. Journal: Journal of Real Estate Literature Pages: 1-29 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090415 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090415 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:1-29 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090416_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Prashant Das Author-X-Name-First: Prashant Author-X-Name-Last: Das Author-Name: Charles R. Jr. Thomas Author-X-Name-First: Charles R. Jr. Author-X-Name-Last: Thomas Title: Strategic Development of REITs in India Abstract: In this paper, we discuss managerial challenges and opportunities related to the newly introduced real estate investment trust (REIT) in India. Features of the proposed REIT structure are critiqued in light of the existing body of knowledge about REITs. We revisit the debate surrounding the issue of external versus internal management of REITs. Analysis of salient aspects of Indian real estate companies such as financing, investment, cash flows, and ownership pattern suggest that potential sponsors must go through some fundamental attitudinal changes to successfully adopt the REIT model. Journal: Journal of Real Estate Literature Pages: 103-131 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090416 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090416 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:103-131 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090417_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Mario du Preez Author-X-Name-First: Mario du Author-X-Name-Last: Preez Author-Name: Mehmet Balcilar Author-X-Name-First: Mehmet Author-X-Name-Last: Balcilar Author-Name: Aarifah Razak Author-X-Name-First: Aarifah Author-X-Name-Last: Razak Author-Name: Steven F. Koch Author-X-Name-First: Steven F. Author-X-Name-Last: Koch Author-Name: Rangan Gupta Author-X-Name-First: Rangan Author-X-Name-Last: Gupta Title: House Values and Proximity to a Landfill in South Africa Abstract: In this paper, we explore the relation between proximity to a landfill and housing values in the Nelson Mandela Bay Metropole (NMBM), South Africa, extending the research by Du Preez and Lottering (2009), who found a negative relation. The results corroborate the findings of Du Preez and Lottering and indicate that the negative relation is most pronounced at the lowest and highest housing values. Specifically, house values increase by an average of ZAR19.0 or US$1.81 (0.2%) for every 100 meters away from the landfill. For the lowest 5% of house values, this increase is only 0.11% while at the top 5%, house values increase by 0.21%. This clearly demonstrates that “wealthier” owners stand to gain more by being situated further from landfills than “poorer” owners. Journal: Journal of Real Estate Literature Pages: 133-149 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090417 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090417 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:133-149 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090418_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Hong Zhang Author-X-Name-First: Hong Author-X-Name-Last: Zhang Author-Name: Xu Sun Author-X-Name-First: Xu Author-X-Name-Last: Sun Author-Name: Yang Zhang Author-X-Name-First: Yang Author-X-Name-Last: Zhang Author-Name: Michael J. Seiler Author-X-Name-First: Michael J. Author-X-Name-Last: Seiler Title: Ascertaining the Comprehensive Carrying Capacity of Island Land Abstract: The land use particularities in island areas make it necessary to reestablish a method to ascertain the carrying capacity of island land. Based on both the natural and economic attributes of land, in this paper we propose one such method. We examine Chusan, a prefecture-level coastal city in southeast China, using this method. We find that the carrying capacities of land in Chusan in 2015, 2020, and 2030 are 2.34 million, 3.12 million, and 4.65 million, respectively. In the long-term, the land economic carrying capacities are the main restricting factors. Correspondingly, the predicted population of Chusan is 1.15 million, 1.21 million, and 1.33 million, respectively. The results show that the population carrying capacity of Chusan can fully satisfy the needs associated with a population increase, economic development, and improvement in living quality. Journal: Journal of Real Estate Literature Pages: 151-166 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090418 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090418 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:151-166 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090419_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Peter Ukpevbo Author-X-Name-First: Peter Author-X-Name-Last: Ukpevbo Author-Name: Idu Robert Egbenta Author-X-Name-First: Idu Robert Author-X-Name-Last: Egbenta Title: Buyers' Perceptions of the Proximity of High-Voltage Overhead Electricity Transmission Lines on Residential Land Values in Auchi, Nigeria Abstract: In this study, we examined buyers' perceptions of the proximity of high-voltage overhead electricity transmission lines (HVOETLs) on residential land values in Auchi, Nigeria. In the Nigerian property market, little or nothing is known about the impact of transmission lines on the values of nearby residential land. A total of 115 respondents were purposively selected from a population of prospective buyers of residential land in Auchi and environs. Conjoint orthogonal plan was used to elicit respondents' preference ranks of residential land attributes. Results showed that HVOETLs proximity has negative effects on buyers' stated preferences for residential land by showing reduction in the selling prices of residential land proximate to transmission lines. Journal: Journal of Real Estate Literature Pages: 167-182 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090419 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090419 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:167-182 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090420_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael J. Seiler Author-X-Name-First: Michael J. Author-X-Name-Last: Seiler Title: Determinants of the Strategic Mortgage Default Cumulative Distribution Function Abstract: In this paper, I discuss the many factors and considerations that enter into the strategic mortgage default (SMD) decision-making process. While it is not possible to construct a single cumulative distribution function (CDF) associated with this decision, it is important for policymakers to better understand what composes its shape, as well as the range over which values occur. I use both transactions-based and experiment- based data to suggest a theoretical shape of the SMD CDF. Journal: Journal of Real Estate Literature Pages: 183-199 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090420 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090420 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:183-199 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090421_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 201-206 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090421 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090421 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:201-206 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090422_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Charles C. Carter Author-X-Name-First: Charles C. Author-X-Name-Last: Carter Title: Capital in the Twenty-First Century Journal: Journal of Real Estate Literature Pages: 207-212 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090422 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090422 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:207-212 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090423_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nicolas Devaux Author-X-Name-First: Nicolas Author-X-Name-Last: Devaux Author-Name: Jean Dubé Author-X-Name-First: Jean Author-X-Name-Last: Dubé Title: About the Influence of Time on Spatial Dependence: A Meta-analysis using Real Estate Hedonic Pricing Models Abstract: Real estate transactions data usually consist of a collection, over time, of spatial layers of individual transactions. Despite the presence of a temporal dimension, it is not uncommon for these data to be analyzed using a strictly spatial approach. In this paper, we assess the impact of the temporal omission on spatial statistics (Moran's I and autoregressive parameters) when unrepeatable collected data are used. Using a meta-analysis approach, a sample of empirical studies is collected. The results show that spatial dependence measurement and correction is not an obvious task and that time affects these statistics in different ways. Journal: Journal of Real Estate Literature Pages: 31-66 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090423 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090423 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:31-66 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090424_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Erin A. Hopkins Author-X-Name-First: Erin A. Author-X-Name-Last: Hopkins Title: An Exploration of Green Building Costs and Benefits: Searching for the Higher Ed Context Abstract: Green building certification on college campuses is relatively new. When determining the financial feasibility of a certified green building at an institution of higher education, the full building lifecycle perspective is important to consider. In this paper, I first provide a background on campus sustainable development and green building rating systems. I then review the studies that have addressed the upfront green premium and down-the-line green building operating costs. Lastly, deficiencies in the studies are highlighted as well as future research recommendations in order to cure these deficiencies. Journal: Journal of Real Estate Literature Pages: 67-84 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090424 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090424 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:67-84 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090425_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Qinna Zhao Author-X-Name-First: Qinna Author-X-Name-Last: Zhao Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Author-Name: Fan Li-jun Author-X-Name-First: Fan Author-X-Name-Last: Li-jun Author-Name: Zhong Fen Author-X-Name-First: Zhong Author-X-Name-Last: Fen Title: The Effect of the Nengda Incineration Plant on Residential Property Values in Hangzhou, China Abstract: Incineration plants and derelict industrial sites can have a number of adverse effects on the local environment and social welfare, including diminution of property values. Although many incineration plants exist in China, there has been relatively little research done to estimate the negative externality affects there. In this paper, we examine the effects of the Nengda municipal incineration plant in Hangzhou city on residential property values. We employ a hedonic pricing model to examine the sales of over 500 residential condominium units in over 20 multifamily buildings within ten kilometers of the incineration plants over a one-year-period including 2014. The results show that proximate properties show decreases in initial listing price of up to 25.9%, declining monotonically until the effect is gone at three kilometers from the incinerator. These results are comparable to similar situations in the United States and Canada. Journal: Journal of Real Estate Literature Pages: 85-102 Issue: 1 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090425 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090425 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:1:p:85-102 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090426_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tim Jones Author-X-Name-First: Tim Author-X-Name-Last: Jones Author-Name: G. Stacy Sirmans Author-X-Name-First: G. Stacy Author-X-Name-Last: Sirmans Title: Commercial Mortgage Termination and Pricing: Theory and Evidence from 1970 to 2015 Abstract: Commercial mortgage delinquency and default rates increased to unprecedented levels during the 2007–2009 financial crisis. Traditional credit risk models and underwriting models failed to adequately predict the increase in nonperforming loans resulting from precipitous price declines in an increasing number of commercial properties. These effects, in turn, spilled over into the commercial mortgage-backed securities (CMBSs) market. In this paper, we provide a comprehensive analysis of many topics relating to commercial mortgages, including (1) the determinants of mortgage termination and loss severity, (2) the pricing of commercial mortgages and CMBSs, and (3) the role of special servicers. Our synthesis of the extant commercial real estate literature can be useful to borrowers, originators, underwriters, investors, regulators, and policymakers, especially in relation to developing improved credit risk models and better lending standards. Journal: Journal of Real Estate Literature Pages: 213-249 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090426 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090426 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:213-249 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090427_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Douw G.B. Boshoff Author-X-Name-First: Douw G.B. Author-X-Name-Last: Boshoff Title: The Use of Options Pricing to Value the Bare Dominium of Property with Long Leases Abstract: Option pricing theory is familiar in the property market with studies that consider the methodology for the pricing of mortgages, development land, idle time, property stocks, lease options and other optionality with regard to design or use. It has not, to date, been generally considered as an alternative pricing method for income producing property as a financial investment. In this study, I investigate the use of options pricing theory to value long-term leases and provide a basis to deal with the uncertainty of future market changes that normally makes such valuation problematic. This has specific application to valuing the interests of the property owner in a property with a long-term land lease, whereby the income rights from the property are in the hands of the lease holder, also referred to as the bare dominium. Journal: Journal of Real Estate Literature Pages: 251-274 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090427 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090427 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:251-274 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090428_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Donald Epley Author-X-Name-First: Donald Author-X-Name-Last: Epley Title: Assumptions and Restrictions on the Use of Repeat Sales to Estimate Residential Price Appreciation Abstract: The most popular methods to estimate residential price appreciation have been the use of repeat sales with a type of regression without much attention devoted to the assumptions and restrictions on the selection of the data or the eventual use of the results. In this paper, I discuss the critical issues that must be addressed in the use of repeat sales only and the median-to-median approach, which relies on the use of all sales. Users need to remember that each uses different data to measure inflation that is inferred to be the correct measure for the whole housing inventory. The eventual use of the results is either to concentrate on the improvement of the statistical procedure, or to produce a rate that can be used in a finance model. None incorporate the steps in the valuation process used by appraisers. Journal: Journal of Real Estate Literature Pages: 275-286 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090428 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090428 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:275-286 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090429_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Samuel Azasu Author-X-Name-First: Samuel Author-X-Name-Last: Azasu Author-Name: Karen M. Gibler Author-X-Name-First: Karen M. Author-X-Name-Last: Gibler Title: The CDIO Model for Real Estate Curriculum Development Abstract: Curriculum design and revision are integral to every university's operation, yet course content and sequencing is often decided by faculty experts on an ad hoc basis. The research establishing real estate core concepts and identifying necessary graduate skills is reviewed. The conceive-design-implement-operate (CDIO) model is presented as a structured approach for incorporating faculty, employer, and student stakeholder demands into an integrated curriculum. The use of the CDIO model is illustrated by the revision of the undergraduate real estate degree curriculum at the University of the Witwatersrand. Journal: Journal of Real Estate Literature Pages: 287-308 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090429 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090429 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:287-308 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090430_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (REAL) Rankings For 2012–2016 Abstract: Last year marked the first release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. Real estate research continues to be a dynamic, evolving field with far-ranging implications from construction and development to finance and investment to local and national social and policy implications on real estate. Despite contributing to multiple fields and disciplines, the contributors to innovative real estate research, by author and/or institution, are often difficult to measure or highlight. The inaugural rankings in 2011–2015 attempted to highlight the authors and institutions making the greatest contributions to the field of real estate research based on publications in the top three peer-reviewed real estate journals. The 2012–2016 REAL rankings demonstrate that real estate rankings, much like the research and the field, are dynamic. Journal: Journal of Real Estate Literature Pages: 309-315 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090430 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090430 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:309-315 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090431_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Wei Lan Chong Author-X-Name-First: Wei Lan Author-X-Name-Last: Chong Author-Name: Kien Hwa Ting Author-X-Name-First: Kien Hwa Author-X-Name-Last: Ting Author-Name: Fan Fah Cheng Author-X-Name-First: Fan Fah Author-X-Name-Last: Cheng Title: The Impacts of Corporate Governance on the Performance of REITs in Singapore Abstract: In this paper, we examine the impact of corporate governance on the performance of externally managed real estate investment trusts (REITs) in Singapore (S-REITs) from 2008 to 2012 using the Corporate Governance Index (CGI) developed by the Asia Pacific Real Estate Association (APREA). We employ the generalized method of moments (GMM) method, which is more robust compared to previous studies that used pooled ordinary least squares (OLS) and panel data. The results indicate that corporate governance has a significant impact on return on assets (ROA) and excess returns of S-REITs even though S-REITs are in a highly regulated industry. The results further indicate that individual corporate governance influences and affects the value of S-REITs. In addition, the findings also indicate that the S-REIT board of directors could mitigate and curtail related party transactions, which would have significant impact on the excess returns of S-REITs. Journal: Journal of Real Estate Literature Pages: 317-344 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090431 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090431 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:317-344 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090432_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Lumengo Bonga-Bonga Author-X-Name-First: Lumengo Author-X-Name-Last: Bonga-Bonga Author-Name: Jean Luc Erero Author-X-Name-First: Jean Luc Author-X-Name-Last: Erero Author-Name: Rangan Gupta Author-X-Name-First: Rangan Author-X-Name-Last: Gupta Title: Impact of Activity Tax in the Property-Owning and Subletting of Fixed Property Sectors on the South African Economy: A CGE Analysis Abstract: In this paper, we analyze the economy-wide impact of an increase in property tax in South Africa by disaggregating the real property sector into three subcomponents: property-owning, subletting of fixed property, and other activities of estate agencies. Use is made of the computable general equilibrium model for this end. The results of the simulation show that increasing taxation in the property sector reduces demand for all types of labor in South Africa. Moreover, the results of the simulations show that a tax increase in the property sector reduces economic activity in the country and offsets a possible increase in government revenue. We suggest that the South African government should be cautious about resorting to an increase in tax in the property sector to raise revenue. Journal: Journal of Real Estate Literature Pages: 345-357 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090432 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090432 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:345-357 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090433_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Braam Lowies Author-X-Name-First: Braam Author-X-Name-Last: Lowies Author-Name: John Henry Hall Author-X-Name-First: John Henry Author-X-Name-Last: Hall Title: Government Influences, Emotions, and the Investment Decisions of South African Property Fund Managers Abstract: Efficient investment decision-making is a function of a free and efficient market. Government interference may distort such efficient markets and subsequent investment decision-making. We investigate the role of emotions in property fund managers' decisions and the extent of the influence of government actions on these decisions. The results show that property fund managers perceive the influence of national and local government actions on their investment decisions as negative with a feeling of regret towards these investment decisions made. It also shows the volatility of the South African property fund decision-making environment and its associated difficulties. Journal: Journal of Real Estate Literature Pages: 359-376 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090433 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090433 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:359-376 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090434_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Rubina Canesi Author-X-Name-First: Rubina Author-X-Name-Last: Canesi Author-Name: Chiara D'Alpaos Author-X-Name-First: Chiara Author-X-Name-Last: D'Alpaos Author-Name: Giuliano Marella Author-X-Name-First: Giuliano Author-X-Name-Last: Marella Title: Forced Sale Values vs. Market Values in Italy Abstract: In this paper, we analyze the concept of forced sale value (FV) and investigate the Italian real estate forced sale market. The aim of this study is to fill the gap in the literature on the proper quantitative determination of FV. A robust FV evaluation is a key issue for financial institutions in order to determine the value of mortgages' underlying guarantees. By an empirical investigation, we identify the relation between FV and market value (MV), analyzing the components of the Italian real estate forced sale auction market. We sampled and analyzed 119 cases of forced property sales that took place between 2006 and 2014 in the North of Italy, in order to determine the discount between MV and FV. Journal: Journal of Real Estate Literature Pages: 377-401 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090434 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090434 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:377-401 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090435_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Marco Simonotti Author-X-Name-First: Marco Author-X-Name-Last: Simonotti Author-Name: Francesca Salvo Author-X-Name-First: Francesca Author-X-Name-Last: Salvo Author-Name: Marina Ciuna Author-X-Name-First: Marina Author-X-Name-Last: Ciuna Author-Name: Manuela De Ruggiero Author-X-Name-First: Manuela Author-X-Name-Last: De Ruggiero Title: Measurements of Rationality for a Scientific Approach to the Market-Oriented Methods Abstract: Appraisals are based on regression models. Its major application limits are all in situations in which the real estate market doesn't offer a sufficient number of comparables to implement statistical tools. In low-transaction real estate markets, the most effective appraisal method is the market comparison approach (MCA). The application limits of MCA depend on the degree of similarity between the properties' characteristics and the reliability of the prices of comparables. In this paper, we introduce some rational measurements in order to guarantee a scientific approach to MCA is associated with the correct prices. Our method is able to restore appraisals of the market value of any type of property, even in situations in which the comparables are limited or when the reliability of the buying and selling prices could be better. Journal: Journal of Real Estate Literature Pages: 403-427 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090435 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090435 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:403-427 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090436_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Pernille H. Christensen Author-X-Name-First: Pernille H. Author-X-Name-Last: Christensen Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Title: The Application of Mixed Methods: Using a Crossover Analysis Strategy for Product Development in Real Estate Abstract: Increasingly, researchers are recognizing the benefits of expanding research designs to include both quantitative and qualitative methods to gain deeper insight into the reasons behind various research phenomena. Entrepreneurial development of market-oriented products can benefit from the use of both methods to gain an understanding of complex issues influencing the development of new products. In this paper, we offer a philosophical argument for utilizing a mixed methods approach in the development of quantitative instruments and demonstrate how the use of a crossover analysis strategy expands the traditionally applied, linear decision process to improve both the fidelity and validity of market-driven products. We also demonstrate how a mixed methods crossover analysis strategy enables both quantitative and qualitative data to iteratively inform the revisions, adaptation, and development of a (quantitative) market-oriented product. Journal: Journal of Real Estate Literature Pages: 429-451 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090436 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090436 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:429-451 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090437_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Pernille H. Christensen Author-X-Name-First: Pernille H. Author-X-Name-Last: Christensen Author-Name: David McIlhatton Author-X-Name-First: David Author-X-Name-Last: McIlhatton Author-Name: Neale Blair Author-X-Name-First: Neale Author-X-Name-Last: Blair Title: Multi-Purpose 3-D Real Estate: Understanding the Role of 3-D Technology for Enhancing Resilience Abstract: The role that real estate can have for enhancing the effectiveness and efficiency of an area to respond to natural and man-made crises has received little attention. This research demonstrates how the real estate profession plays a fundamental role in the preparedness, response, reconstruction, and recovery stages of a crisis. The geospatial technology developed and used in this research illustrates how geographic information, geographic information systems, gaming technology, and the creation of a user interface can improve the decision-making process for those tasked with ensuring resilience in urban areas. In particular, the ability of decision makers to create real-time simulations with this model, including temporal and visual information about the impact of various interventions, enables decision makers to better understand intervention options and make better decisions. Three scenarios are presented in which this technology was applied: flooding, riots/protests, and terrorist events. Journal: Journal of Real Estate Literature Pages: 453-472 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090437 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090437 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:453-472 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090438_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joseph A. Yacim Author-X-Name-First: Joseph A. Author-X-Name-Last: Yacim Author-Name: Douw G.B. Boshoff Author-X-Name-First: Douw G.B. Author-X-Name-Last: Boshoff Author-Name: Abdullah Khan Author-X-Name-First: Abdullah Author-X-Name-Last: Khan Title: Hybridizing Cuckoo Search with Levenberg-Marquardt Algorithms in Optimization and Training Of ANNs for Mass Appraisal of Properties Abstract: Various algorithms, including particle swarm optimization (PSO), genetic algorithm (GA), ant colony algorithm (AC), cuckoo search (CS) algorithm, and firefly algorithm (FA) have been introduced to help optimize artificial neural networks (ANNs), speed up convergence and iteration rates, and escape from trapping into local optimum. However, despite the capabilities of these algorithms, it is only GA that has been utilized in the mass appraisal of properties. Therefore, in order to deal with problems of inconsistencies in appraisal/valuation estimates that sometimes occur during predictions, CS, a meta-heuristic algorithm is introduced into the mass appraisal industry. The proposed algorithm is combined with Levenberg-Marquardt (LM) and back propagation (BP) algorithms to test their effectiveness in the prediction of property values. We analyzed a dataset of 3,494 property transactions from the city of Cape Town, South Africa. The results indicate that CSLM and CSBP outperformed standalone the conventional BP algorithm in optimizing and training of ANN for mass appraisal of properties. This is reflected in the minimal error matrices predicted by both CSLM and CSBP algorithms. Journal: Journal of Real Estate Literature Pages: 473-492 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090438 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090438 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:473-492 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090439_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 493-496 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090439 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090439 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:493-496 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090440_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: From Book to Bubble: How Finance Built the New Chicago Journal: Journal of Real Estate Literature Pages: 497-502 Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090440 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090440 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:497-502 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090441_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: bmi-bmxvii Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090441 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090441 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090442_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 2 Volume: 24 Year: 2016 Month: 1 X-DOI: 10.1080/10835547.2016.12090442 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12090442 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:24:y:2016:i:2:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090443_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kay Zhang Author-X-Name-First: Kay Author-X-Name-Last: Zhang Author-Name: Steven Saules Author-X-Name-First: Steven Author-X-Name-Last: Saules Author-Name: Leif Wagner Author-X-Name-First: Leif Author-X-Name-Last: Wagner Author-Name: Ron Throupe Author-X-Name-First: Ron Author-X-Name-Last: Throupe Title: A Review of the Impact of Marijuana's Legalization on Colorado's Industrial Warehouse Lease Rates: How High is High? Abstract: We review the evolution of the marijuana industry in Colorado and its implications for real estate. We investigate industrial space pricing and the history of price effects caused by the legalization of marijuana in Colorado. We are the first to investigate how the legalization of marijuana has created an excess demand for real estate space. We show that the lease pricing of industrial grow facilities is well above that of non-marijuana related industrial spaces by referring to examples and reasoning for the lease rate spread. We comment on what the next phase of the marijuana real estate market will be as the industry matures. Journal: Journal of Real Estate Literature Pages: 1-29 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090443 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090443 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:1-29 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090444_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nor Nazihah Chuweni Author-X-Name-First: Nor Nazihah Author-X-Name-Last: Chuweni Author-Name: Chris Eves Author-X-Name-First: Chris Author-X-Name-Last: Eves Author-Name: Viet-Ngu Hoang Author-X-Name-First: Viet-Ngu Author-X-Name-Last: Hoang Author-Name: Ihsan Isik Author-X-Name-First: Ihsan Author-X-Name-Last: Isik Author-Name: M. Kabir Hassan Author-X-Name-First: M. Kabir Author-X-Name-Last: Hassan Title: How Efficient are Alternative Financial Institutions? An Empirical Investigation of Islamic REITs in Malaysia Abstract: The literature shows that despite Sharia-compliant restrictions, Islamic real estate investment trusts (REITs) exhibit higher financial returns than conventional trusts. However, efficiency analysis that directly assesses the effect of Sharia-compliant is lacking. This paper provides the first such analysis of Malaysian REITs from 2007 to 2015. The findings show that Malaysian REITs can reduce their inputs consumption by 35.8% without reducing outputs, implying a significant potential for improvement. Nevertheless Islamic REITs achieve higher efficiency levels than conventional REITs, indicating that the Sharia-compliant effect is positive. The findings suggest that REITs can increase efficiency through good governance, capitalization, and diversification. Journal: Journal of Real Estate Literature Pages: 107-139 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090444 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090444 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:107-139 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090445_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ashish Gupta Author-X-Name-First: Ashish Author-X-Name-Last: Gupta Author-Name: Anil Sawhney Author-X-Name-First: Anil Author-X-Name-Last: Sawhney Author-Name: Deepak Bajaj Author-X-Name-First: Deepak Author-X-Name-Last: Bajaj Author-Name: Sunil Agarwal Author-X-Name-First: Sunil Author-X-Name-Last: Agarwal Title: Significance of Real Estate Fund Management in India Abstract: Private equity real estate (PERE) in developing markets has limited reliable publically available data. In this paper, we analyze the transaction data of PERE in India for the 2005–2015 period. Investments during this period are classified into three phases depending on major policy, economic, and political events that shaped these investment phases. These three phases are 2005–2008, 2009–2013, and 2014–2015. During the first phase, opportunistic equity investments in development assets were favored by investors. In the second phase, equity investments got transformed to structured debt. During the third phase, long-term investment by institutional investors and fund managers in the form of platform transactions took place. REITs, Housing for All by 2022, Smart City Mission, tax reforms, and other government initiatives are likely to improve transparency and corporate governance in real estate. These initiatives will help to grow investments and organize the real estate industry in India. Journal: Journal of Real Estate Literature Pages: 141-168 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090445 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090445 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:141-168 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090446_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Steven Devaney Author-X-Name-First: Steven Author-X-Name-Last: Devaney Author-Name: Nicola Livingstone Author-X-Name-First: Nicola Author-X-Name-Last: Livingstone Author-Name: Pat McAllister Author-X-Name-First: Pat Author-X-Name-Last: McAllister Author-Name: Anupam Nanda Author-X-Name-First: Anupam Author-X-Name-Last: Nanda Title: Institutional Convergence in Real Estate Markets: A Comparative Study of Brokerage Models and Transaction Costs Abstract: We analyze international variations in transaction processes and costs in commercial real estate markets. They are interpreted through a framework emerging from new institutional economics and socio-technical theory. Specifically, brokerage arrangements and transaction times and costs are investigated across a sample of 26 developed, emerging, and frontier real estate markets. The research reveals a nuanced and intricate pattern of market conventions. In some markets, a variety of transaction models can comfortably coexist, but more commonly, a single model is embedded and dominant. However, there is near universality in practice for other aspects of transactions, such as broker service offers and brokerage commission structures. Overall, local market outcomes seem to reflect local adaptations and modifications of a small number of common models. Journal: Journal of Real Estate Literature Pages: 169-188 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090446 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090446 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:169-188 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090447_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Don Epley Author-X-Name-First: Don Author-X-Name-Last: Epley Title: Residential Property Insurance Risk by Location Abstract: This project used a unique insurance data set recently released by a state insurance agency to examine the average overall residential risk rate by location. The intent was to determine the more risky locations that would be expected to show a higher capitalization rate, which would cause a higher insurance premium. Higher insurance premiums provide a fertile environment for a lower sales price on residential properties. In 2012, locations not touching the ocean illustrated the highest risk levels. In 2009, locations on the water were the highest. Rates of change between the two locations for 2009 and 2012 were approximately the same. This project illustrated data and data sources that a practicing appraiser could evaluate and use, and provides a benchmark that does not currently exist. It also provides the local appraiser guidance on risky locations where insurance premiums can impact residential sales prices. Journal: Journal of Real Estate Literature Pages: 189-205 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090447 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090447 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:189-205 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090448_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Steven C. Bourassa Author-X-Name-First: Steven C. Author-X-Name-Last: Bourassa Author-Name: Martin Hoesli Author-X-Name-First: Martin Author-X-Name-Last: Hoesli Title: High-Frequency House Price Indexes with Scarce Data Abstract: We show how a method that has been applied to commercial real estate markets can be used to produce high-frequency house price indexes for a city and for submarkets within a city. Our application of this method involves estimating a set of annual robust repeat sales regressions staggered by start date and then undertaking an annual-to-monthly (ATM) transformation with a generalized inverse estimator. Using transactions data for Louisville, Kentucky, we show that the method substantially reduces the volatility of high-frequency indexes at the city and submarket levels. We define submarkets in terms of both ZIP Codes and groups of contiguous ZIP Codes that approximate areas defined by the local multiple listing service. Focusing on ZIP Codes, we demonstrate that both volatility and the benefits from using the ATM method are related to sample size. Our method is clearly useful for constructing house price indexes for small areas with relatively scarce data. Journal: Journal of Real Estate Literature Pages: 207-220 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090448 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090448 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:207-220 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090449_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael S. Young Author-X-Name-First: Michael S. Author-X-Name-Last: Young Author-Name: Jeffrey D. Fisher Author-X-Name-First: Jeffrey D. Author-X-Name-Last: Fisher Author-Name: Joseph D'Alessandro Author-X-Name-First: Joseph Author-X-Name-Last: D'Alessandro Title: New NCREIF Value Index and Operations Measures Abstract: Since its inception, the NCREIF Property Index (NPI) has achieved preeminence as an indicator of the investment performance of institutionally-held commercial property in the United States. We introduce three new and refined series derived from NCREIF property data: the Market Value Index (MVI), Free Cash Flow Yield (FCFY), and the Capital Expense Ratio (CXR). While the NPI was designed to measure the risk and returns of the real estate asset class, these series optimize the property-level data in the NCREIF database to provide better indications of real estate value changes and operating performance. Journal: Journal of Real Estate Literature Pages: 221-235 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090449 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090449 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:221-235 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090450_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Donald Epley Author-X-Name-First: Donald Author-X-Name-Last: Epley Title: The Need to Reference Automatic Valuation Models to The Valuation Process Abstract: Computer-assisted estimates of market value should be in compliance with the Uniform Standards and be controlled by the well-known valuation process that all certified appraisers follow. This action would resolve a major discrepancy that exists in the market in the interpretation of the model estimate. One group calls the result “market value,” in contrast to a large other group that views it as only a “price.” The government regulations and academic literature contain both discussions, which lead to a difference in concept as to the content of each computer-assisted model. Evaluations of each automatic valuation model for potential use should be based on accuracy, qualifications of the model builder and user, number of properties, amount of supervision, and interpretation of results, and perhaps, profit potential to the underwriter. Comparisons among models will remain minimal as long as they continue to show commercial potential. The practicing appraiser using computer methods to analyze market trends and produce a market price should be aware of current AVM developments. Journal: Journal of Real Estate Literature Pages: 237-251 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090450 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090450 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:237-251 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090451_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 253-257 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090451 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090451 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:253-257 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090452_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 259-264 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090452 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090452 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:259-264 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090453_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dustin Read Author-X-Name-First: Dustin Author-X-Name-Last: Read Author-Name: Drew Sanderford Author-X-Name-First: Drew Author-X-Name-Last: Sanderford Title: Examining Five Common Criticisms of Mixed-Income Housing Development Found in the Real Estate, Public Policy, and Urban Planning Literatures Abstract: Where the federal government has increasingly relinquished control of affordable housing creation, local governments have frequently turned to public-private partnerships to fund mixed-income housing projects. We describe the primary rationales for implementing mixed-income housing development strategies. We also identify distinct types of criticism from the real estate, public policy, and urban planning literatures. In addition, we describe the best practices that have emerged to help these projects promote neighborhood revitalization and serve the interests of low-to-moderate income families. We provide new insights about the factors to consider when evaluating the merits of proposed mixed-income housing policies and developments. Journal: Journal of Real Estate Literature Pages: 31-48 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090453 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090453 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:31-48 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090454_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Helen X.H. Bao Author-X-Name-First: Helen X.H. Author-X-Name-Last: Bao Author-Name: Charlotte Chunming Meng Author-X-Name-First: Charlotte Chunming Author-X-Name-Last: Meng Title: Loss Aversion and Housing Studies Abstract: Loss aversion, similar to behavioral sciences in general, has found applications in a wide range of research areas; however, evidence in housing studies remains scarce. We provide a review of the loss aversion literature to aid future research in this direction by conducting a survey of both business and economics papers and real estate publications. We discuss practical issues pertaining to research methodology and its empirical applications in housing markets. We recommend that further studies adopt robust measurement of both reference points and loss aversion, and collect empirical evidence on a broad range of topics. We provide a helpful guideline for empirical investigations on the role of loss aversion in housing studies. Journal: Journal of Real Estate Literature Pages: 49-75 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090454 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090454 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:49-75 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090455_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Diego Salzman Author-X-Name-First: Diego Author-X-Name-Last: Salzman Author-Name: Remco C.J. Zwinkels Author-X-Name-First: Remco C.J. Author-X-Name-Last: Zwinkels Title: Behavioral Real Estate Abstract: The decision of buying residential property may be one of the most important transactions people will ever make, and the emotional attachment when houses become homes is inevitable. Nevertheless, this stylized fact appears to be underrepresented in the literature. While its importance is undeniable, the consumption function, as well as the social and emotional perspective of real estate are often neglected. We provide an overview of the current state of affairs of the main themes in which the behavioral approach intersects with real estate to gain a deeper understanding of the built environment. It seems to be a general consensus that behavioral studies can help to provide insight into property markets, but that a large component of behavioral decision making is left undefined. Journal: Journal of Real Estate Literature Pages: 77-106 Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090455 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090455 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:77-106 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090456_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: bmi-bmxvii Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090456 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090456 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090457_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David M. Harrison Author-X-Name-First: David M. Author-X-Name-Last: Harrison Author-Name: Mauricio Rodriguez Author-X-Name-First: Mauricio Author-X-Name-Last: Rodriguez Title: Front Matter Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 1 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090457 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090457 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090458_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Monica Chuangdumrongsomsuk Author-X-Name-First: Monica Author-X-Name-Last: Chuangdumrongsomsuk Author-Name: Franz Fuerst Author-X-Name-First: Franz Author-X-Name-Last: Fuerst Title: Determinants of Cap Rates in U.S. Office markets Abstract: This study examines the determinants of office capitalization rates across three major U.S. cities: New York City, Chicago, and Los Angeles. Analyzing a sample of 1,804 office properties for the 2000 to 2013 time period, the findings suggest that the drivers of capitalization rates vary considerably across the three cities, even for comparable properties. These differences can hypothetically be beneficial for diversifying real estate portfolio investments. The results further demonstrate that capitalization rates are largely driven by local, as well as property-specific variables. Journal: Journal of Real Estate Literature Pages: 265-282 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090458 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090458 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:265-282 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090459_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Daniel S. Scheller Author-X-Name-First: Daniel S. Author-X-Name-Last: Scheller Title: Neighborhood Racial Composition, Public Goods Provision, and Homeowners Associations: Bridging the Literatures and Future Directions for Research Abstract: This study bridges literature related to neighborhood racial composition, public goods provision, and the growth of homeowners associations (HOAs) across several disciplines including real estate, political science, public administration, economics, urban studies, and sociology. These literatures have cross-disciplinary findings relevant to additional study within each field. I gather the findings to provide real estate professionals and academics with an opportunity to learn about research developments. Additionally, this review should serve as a starting point for relevant citations and research findings for professionals and academics interested in how public goods and racial composition relate to housing and HOAs. I also offer directions for future research regarding the intersections of these literatures. Journal: Journal of Real Estate Literature Pages: 283-309 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090459 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090459 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:283-309 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090460_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Spenser J. Robinson Author-X-Name-First: Spenser J. Author-X-Name-Last: Robinson Author-Name: Andrew R. Sanderford Author-X-Name-First: Andrew R. Author-X-Name-Last: Sanderford Title: Hedonic Models and the Inclusion of Conditions of Sale in Commercial Real Estate Transactions: A Review of the Literature Abstract: In the hedonic analysis literature, there has been much discussion on the conditions of sale or the context, motivating factors, and contract specifics associated with real estate transactions. As conditions of sale are often present in commercial real estate transactions, the limited insight into their marginal price effects attenuates the effectiveness of both research and practice. The objective of this paper is to analyze the literature surrounding conditions of sale. We examine the hedonic literature to gain perspective on the extent to which conditions of sale could be an appropriate variable cluster added to hedonic analysis models. We summarize and thematically organize the empirical findings on specific conditions of sale in the real estate literature to help guide future ex ante empirical expectations. Journal: Journal of Real Estate Literature Pages: 311-326 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090460 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090460 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:311-326 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090461_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (Real) Rankings for 2013–2017 Abstract: The Real Estate Academic Leadership (REAL) rankings for authors and institutions began in 2015 with a straightforward approach to measure author and institutional contributions to real estate research. While real estate research may traditionally be allied with business schools, authorship varies across university programs, as well as public and private organizations. That level of diversity makes it difficult to easily rank programs or departments, resulting in the university or organization as being the primary unit of analysis. The initial rankings in 2011–2015 attempted to highlight the authors and institutions making the greatest contributions to the field of real estate research based on publications in the top three peer-reviewed real estate journals. To some extent, the 2012–2016 rankings served as a check on the rankings from 2011– 2015 to see if there were any major issues with the simple methodology used in the initial rankings. The 2013–2017 REAL rankings continue to highlight that part of the movement in the rankings can be attributed to individual movement to institutions. Journal: Journal of Real Estate Literature Pages: 327-333 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090461 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090461 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:327-333 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090462_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Yuval Arbel Author-X-Name-First: Yuval Author-X-Name-Last: Arbel Author-Name: Chaim Fialkoff Author-X-Name-First: Chaim Author-X-Name-Last: Fialkoff Author-Name: Amichai Kerner Author-X-Name-First: Amichai Author-X-Name-Last: Kerner Title: Negative Externalities and Implicit Non-Linear Prices: Capitalization of Highway Noise into Housing Values Abstract: We exploit unique micro data and special acoustic equipment to estimate the impact of highway noise on housing prices. We observe the housing values and characteristics of single-family newly constructed housing units in an isolated neighborhood in the town of Atlit, a bedroom community near Haifa, Israel. The neighborhood is located near the only highway to Haifa, one of the three major metropolitan centers in Israel. The highway noise is the only observable or sound-related externality in the neighborhood. Unlike previous studies, we use polynomial curve fitting, which permits non-linearity in the implicit price of 1 dB. The findings suggest a significant increase in the incremental price discount per 1 dB with the level of noise from 0% at 47–50 dB to 4.83% at 55 dB, and thus provide further support to the conventional hedonic theory of implicit non-linear prices. Journal: Journal of Real Estate Literature Pages: 335-364 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090462 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090462 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:335-364 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090463_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Mpilo Ntuli Author-X-Name-First: Mpilo Author-X-Name-Last: Ntuli Author-Name: Omokolade Akinsomi Author-X-Name-First: Omokolade Author-X-Name-Last: Akinsomi Title: An Overview of the Initial Performance of the South African REIT Market Abstract: South Africa implemented the real estate investment trust (REIT) structure in 2013 with the intention of encouraging local and international investment. A year after implementation, South African listed property was reported to have performed better than United Kingdom, European, and Asian REITs. In this study, we assess the initial performance of South African REITs and their portfolio diversification benefits when paired with stocks, bonds, T-bills, and other listed property in a mixed-asset portfolio, over the May 2013 to December 2015 period. The findings show that stocks are the best performing asset, risk-adjusted. REITs are a return-enhancer when included in a mixed-asset portfolio, and tend to contribute at the higher end of the risk spectrum. Journal: Journal of Real Estate Literature Pages: 365-388 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090463 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090463 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:365-388 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090464_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Hyunbum Cho Author-X-Name-First: Hyunbum Author-X-Name-Last: Cho Title: The Role of Sub-Sector REITS in Mixed-Asset Portfolios in Japan Abstract: In this paper, I assess the significance, risk-adjusted performance, and portfolio diversification benefits of sub-sector REITs in Japan and their strategic role in a mixed-asset portfolio over 2010–2015. I track the performance of seven sub-sector REITs and compare them with shares, bonds, unlisted property funds, and listed property companies in Japan. The results show that non-traditional REIT sectors, such as hotel and industrial REITs, provide the best risk-adjusted returns among the sub- sector REITs over 2010–2015 and have relatively low correlations with other assets, including shares, bonds, unlisted property funds, and property companies. The findings of this study facilitate additional property investment strategies for many fund managers, institutional investors, and pension funds that have invested or plan to invest in REITs market in Japan. Journal: Journal of Real Estate Literature Pages: 389-408 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090464 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090464 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:389-408 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090465_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Christophe André Author-X-Name-First: Christophe Author-X-Name-Last: André Author-Name: Nikolaos Antonakakis Author-X-Name-First: Nikolaos Author-X-Name-Last: Antonakakis Author-Name: Rangan Gupta Author-X-Name-First: Rangan Author-X-Name-Last: Gupta Author-Name: Mulatu F. Zerihun Author-X-Name-First: Mulatu F. Author-X-Name-Last: Zerihun Title: Asymmetric Behavior in Nominal and Real Housing Prices: Evidence from Emerging and Advanced Economies Abstract: In this article, we investigate asymmetry in nominal and real housing price series from eleven emerging and twenty advanced economies using the nonparametric Triples test (Randles et al., 1980), which allows identification of different types of asymmetries in economic cycles. We find asymmetry in fewer emerging than advanced economies. In more than half of the latter, nominal prices reach peaks faster than troughs (positive steepness asymmetry), suggesting the presence of downward nominal rigidities. Nominal price asymmetry is found only in slightly over a quarter of the emerging economies. Hence, nominal housing price increases are more likely to be followed by symmetric price falls in emerging than in advanced countries. Regarding real housing prices, peaks are higher than troughs (positive deepness asymmetry) in half of the advanced economies, suggesting the presence of price overshooting during booms, but less undershooting during busts. Weaker evidence of similar asymmetry is found in emerging economies, where high cyclical peaks are more often matched by equally deep troughs than in advanced economies. Journal: Journal of Real Estate Literature Pages: 409-425 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090465 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090465 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:409-425 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090466_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ramya Rajajagadeesan Aroul Author-X-Name-First: Ramya Rajajagadeesan Author-X-Name-Last: Aroul Author-Name: Mauricio Rodriguez Author-X-Name-First: Mauricio Author-X-Name-Last: Rodriguez Title: Obtaining Better Sustainability Data for Hedonic Analysis Abstract: Home buyers and policymakers are becoming more conscious about the benefits that green building features can provide society. This has led to the adoption of green building and sustainable design and construction programs in a growing number of cities in the United States. In this paper, we describe the types of data typically available for capturing green features in residential research, which can be used in hedonic pricing models. We describe how GIS technology and a jurisdiction’s mandatory policies can be used to obtain reliable green data. We demonstrate how to combine data on sustainability-related amenities to capture the association between green features and house prices. Following our suggestions should help researchers avoid making erroneous inferences and lead to more reliable estimates of how green amenities are associated with residential home transaction prices. Journal: Journal of Real Estate Literature Pages: 427-443 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090466 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090466 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:427-443 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090467_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 445-449 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090467 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090467 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:445-449 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090468_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 451-457 Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090468 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090468 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:451-457 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090469_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: bmi-bmxvii Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090469 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090469 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090470_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David M. Harrison Author-X-Name-First: David M. Author-X-Name-Last: Harrison Author-Name: Mauricio Rodriguez Author-X-Name-First: Mauricio Author-X-Name-Last: Rodriguez Title: Front Matter Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 2 Volume: 25 Year: 2017 Month: 1 X-DOI: 10.1080/10835547.2017.12090470 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12090470 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090471_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kimberly Winson-Geideman Author-X-Name-First: Kimberly Author-X-Name-Last: Winson-Geideman Title: Sentiments and Semantics: A Review of the Content Analysis Literature in the Era of Big Data Abstract: Drilling into data to understand property as a financial investment is one of the primary considerations of real estate research. This paper is designed to shed light on some of the newer and more innovative studies by highlighting the use qualitative data and content analysis throughout the literature to enhance our understanding of property. Particular attention is placed on linguistics research including readability metrics, semantic analysis, and sentiment analysis. Ocular tracking is also addressed as a way to evaluate unstructured forms of data. These methods are rigorous enough to be used on their own or as supplements to conventional pricing models, subject to the requirements of the research. Journal: Journal of Real Estate Literature Pages: 1-12 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090471 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090471 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:1-12 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090472_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Riëtte Carstens Author-X-Name-First: Riëtte Author-X-Name-Last: Carstens Author-Name: Julia Freybote Author-X-Name-First: Julia Author-X-Name-Last: Freybote Title: The Impact of Introducing REITs on Foreign Investments and Liquidity in South Africa Abstract: More than 30 countries have introduced real estate investment trusts (REITs). One main objective is to attract foreign investors and improve the liquidity of the respective listed property sector. We investigate whether the introduction of REITs meets this objective by using the South African listed property sector as a laboratory. In particular, we employ panel data to investigate whether converting to REITs improved the liquidity of listed South African property firms through foreign investments. We find that foreign investor trading after the introduction of REITs has a significantly positive impact on activity measures such as turnover and trading volume. On the other hand, the significantly negative impact of foreign investor trading on friction measures such as bid-ask spread and Amihud's (2002) illiquidity measure, which was prevalent in the pre-REIT period, disappears once REITs were introduced. Thus, the introduction of REITs eliminated the impact of foreign investments on the depth and tightness of the listed property market in South Africa. Journal: Journal of Real Estate Literature Pages: 103-128 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090472 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090472 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:103-128 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090473_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Hyunbum Cho Author-X-Name-First: Hyunbum Author-X-Name-Last: Cho Title: The Role of Non-Listed Real Estate Funds in Mixed-Asset Portfolios in China Abstract: In this paper, I assess the significance, risk-adjusted performance, and portfolio diversification benefits of non-listed real estate funds in China and the strategic role of non-listed real estate funds in mixed-asset portfolios in China over the 2010:Q1– 2015:Q4 period. The results show that non-listed real estate funds in China provide the best risk-adjusted return among the assets classes and have very low correlation with all asset classes including China REITs, property companies, stocks, and bonds, providing significant diversification benefits to mixed-asset portfolios. Journal: Journal of Real Estate Literature Pages: 129-149 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090473 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090473 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:129-149 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090474_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Chris Manning Author-X-Name-First: Chris Author-X-Name-Last: Manning Author-Name: Jan deRoos Author-X-Name-First: Jan Author-X-Name-Last: deRoos Author-Name: John W. O'Neill Author-X-Name-First: John W. Author-X-Name-Last: O'Neill Author-Name: Barry A.N. Bloom Author-X-Name-First: Barry A.N. Author-X-Name-Last: Bloom Author-Name: Anjali Agarwal Author-X-Name-First: Anjali Author-X-Name-Last: Agarwal Author-Name: Stephen Roulac Author-X-Name-First: Stephen Author-X-Name-Last: Roulac Title: Hotel/Lodging Real Estate Industry Trends and Innovations Abstract: We review the “Hotel/Lodging Real Estate Industry Trends and Innovations” discussed by panelists at the Thirty-Second Annual Meeting of the American Real Estate Society in Denver, Colorado, in Spring, 2016. More specifically, based on that event's presentations, questions, and subsequent feedback, we discuss four hotel / lodging real estate trends to suggest additional future research collaboration opportunities for academic researchers and industry practitioners. The shared lodging economy in the super-connected high-tech economy is discussed first, followed by non-traditional sources of hotel financing, new forms of boutique/lifestyle hotels/lodging, and hotel services and resort fees. Journal: Journal of Real Estate Literature Pages: 13-41 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090474 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090474 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:13-41 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090475_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Wei Lan Chong Author-X-Name-First: Wei Lan Author-X-Name-Last: Chong Author-Name: Kien Hwa Ting Author-X-Name-First: Kien Hwa Author-X-Name-Last: Ting Author-Name: Fan Fah Cheng Author-X-Name-First: Fan Fah Author-X-Name-Last: Cheng Title: The Impact of Corporate Governance Moderating Effects on the Performance of REITs in Asia Abstract: Corporate governance can have an effect on the organizational behavior of real estate investment trusts (REITs). We examine the moderating effects of corporate governance on Asia REITs' performance. We find significant corporate governance moderating effects on the performance of Asian REITs. Corporate governance could either act as a positive or a negative moderator that could enhance and accelerate performance, return on assets (ROA), return on equity (ROE), and REIT return, and reduce agency costs in Asian REITs. The findings imply that there is a need for transformation and reform in REIT corporate governance. The findings contribute towards Asian REITs' public policy development as REIT corporate governance is found to complement the institutional legal setting and externally managed REITs in Asia. Regulatory bodies of Asian REITs should enforce mandatory and absolute stringent corporate governance regulations on REITs. Journal: Journal of Real Estate Literature Pages: 151-174 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090475 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090475 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:151-174 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090476_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Rangan Gupta Author-X-Name-First: Rangan Author-X-Name-Last: Gupta Author-Name: Hardik A. Marfatia Author-X-Name-First: Hardik A. Author-X-Name-Last: Marfatia Title: The Impact of Unconventional Monetary Policy Shocks in the U.S. on Emerging Market REITs Abstract: In this paper, we estimate a qualitative vector autoregression (Qual VAR) model, in which we combine the binary information of quantitative easing (QE) announcements with an otherwise standard VAR model that includes U.S. and emerging market real estate investment trust (REIT) returns. The Qual VAR uncovers the Federal Reserve's latent, unobservable propensity for QE and generates impulse responses for the emerging market REIT returns. The results show that QE has (strong) positively significant, but short-lived, effects on the returns of emerging market REITs. Journal: Journal of Real Estate Literature Pages: 175-188 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090476 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090476 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:175-188 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090477_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Yuval Arbel Author-X-Name-First: Yuval Author-X-Name-Last: Arbel Author-Name: Chaim Fialkoff Author-X-Name-First: Chaim Author-X-Name-Last: Fialkoff Author-Name: Amichai Kerner Author-X-Name-First: Amichai Author-X-Name-Last: Kerner Title: Climate Change and Housing Choice: the Impact of Climate Differences on Capital-Land Elasticity of Substitution Abstract: We examine the hypothesis that developers and consumers are more responsive to variations in the relative price of land in areas with a warmer climate. We proxy the climatic factor by the temperature in January, April, July, October, and the average of four months in 21 U.S. states. Using a HUD dataset of single-family newly- constructed housing units from 1996 to 1997, we employ the CES equilibrium equation to analyze the data. Regression analysis results support the research hypothesis. Land-to-structure elasticity of substitution (ES) rises significantly by 0.0149–0.0203 when the weather becomes one degree Fahrenheit warmer. The findings may be of assistance to real estate developers, agents, and appraisers in identifying the requirements of potential consumers and applying different lot subdivisions in warmer and colder climatic regions. Journal: Journal of Real Estate Literature Pages: 189-209 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090477 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090477 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:189-209 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090478_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Working Papers Journal: Journal of Real Estate Literature Pages: 211-215 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090478 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090478 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:211-215 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090479_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Author-Name: Gary DeWine Author-X-Name-First: Gary Author-X-Name-Last: DeWine Author-Name: Larry Ledebur Author-X-Name-First: Larry Author-X-Name-Last: Ledebur Author-Name: David M. Harrison Author-X-Name-First: David M. Author-X-Name-Last: Harrison Title: Retired, Rehabbed, Reborn: The Adaptive Reuse of America's Derelict Religious Buildings and Schools Journal: Journal of Real Estate Literature Pages: 217-221 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090479 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090479 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:217-221 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090480_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kämpf-Dern Annette Author-X-Name-First: Kämpf-Dern Author-X-Name-Last: Annette Author-Name: Stephen E. Roulac Author-X-Name-First: Stephen E. Author-X-Name-Last: Roulac Author-Name: Stephen A. Pyhrr Author-X-Name-First: Stephen A. Author-X-Name-Last: Pyhrr Title: Are There Cycles in Real Estate Cycles Research? Evidence from 30 Years of Papers Presented at Real Estate Society Meetings Abstract: Since the 1990s, real estate cycles research (RECR) has become an important part of real estate research societies' annual meetings. Pyhrr, Born, Manning, and Roulac (2003) developed a framework for structuring and classifying the body of knowledge on RECR. Since 2003, extensive and growing diversity in RECR has suggested several inadequacies in the original framework. In this paper, we explain the expanded framework, and report the results of research that tracks and analyzes the relative emphasis of RECR. We analyze all papers presented at the meetings of the eight real estate research societies, covering three decades (1983–2012), including 15,178 papers presented on all topics, and 729 papers on specific cycles topics. We find that while there are identifiable cycles in RECR, they are not yet as pronounced or predictable as we expected. Journal: Journal of Real Estate Literature Pages: 43-81 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090480 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090480 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:43-81 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090481_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: George D. Cashman Author-X-Name-First: George D. Author-X-Name-Last: Cashman Author-Name: David M. Harrison Author-X-Name-First: David M. Author-X-Name-Last: Harrison Author-Name: Ryan J. Whitby Author-X-Name-First: Ryan J. Author-X-Name-Last: Whitby Title: Network Connections in REIT Markets Abstract: Relationships play a central role across the spectrum of real estate transactions. To better understand the role of relationships in real estate markets, we examine how the connectedness of REIT directors is associated with deal making, growth, and profitability. We find strong evidence that REIT connections are positively associated with both deal making and accounting-based measures of profitability; however, those relationships do not translate into better market returns or higher valuations. One explanation of these somewhat contradictory results is that connections also increase firm risk. Preliminary support for this conjecture is found through our examination of each firm's implied cost of equity capital. Specifically, we find increasing connectedness is associated with a higher cost of equity capital. Thus, connections appear to offer both advantages and disadvantages to REIT managers and shareholders. Journal: Journal of Real Estate Literature Pages: 83-102 Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090481 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090481 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:83-102 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090482_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2016 American Real Estate Society Journal Manuscript Prize Winners Journal: Journal of Real Estate Literature Pages: bmi-bmxvii Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090482 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090482 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090483_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David M. Harrison Author-X-Name-First: David M. Author-X-Name-Last: Harrison Author-Name: Mauricio Rodriguez Author-X-Name-First: Mauricio Author-X-Name-Last: Rodriguez Title: Journal of Real Estate Literature, Volume 26, Number 1, 2018 Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 1 Volume: 26 Year: 2018 Month: 7 X-DOI: 10.1080/10835547.2018.12090483 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090483 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090484_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John L. Glascock Author-X-Name-First: John L. Author-X-Name-Last: Glascock Author-Name: Ying Zhang Author-X-Name-First: Ying Author-X-Name-Last: Zhang Author-Name: Tingyu Zhou Author-X-Name-First: Tingyu Author-X-Name-Last: Zhou Title: A Review and Extension of Merger and Acquisition Research Between REITs and General Corporations Abstract: We review the key differences between the finance and real estate literature on mergers and acquisitions (M&As) from 1980 to 2016. We summarize the differences in M&As between REITs and general corporations. First, REIT mergers are larger than general mergers. In particular, the bid levels of REITs are consistently higher than those of standard business mergers. Second, REIT acquisitions involve fewer all-stock bids and fewer all-cash deals. Third, the deal sizes with mixed payments are much higher than with other payment methods. Fourth, there are very few hostile takeovers in the REIT market but the proportion of hostile takeovers in REITs does not differ from conventional firms. Fifth, the average deal value of REIT private-to-public takeovers is higher than public-to-public takeovers and the average deal value of REIT public-to-private takeovers is higher than private-to-private or other-private M&As. Finally, researchers have not examined the use of REITs that could help move real estate assets into better managed and use form; thus this will provide fruitful research ideas in the future. Journal: Journal of Real Estate Literature Pages: 223-253 Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090484 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090484 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:223-253 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090485_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (Real) Rankings For 2014–2018 Abstract: This is the fourth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. Since its inception in 2015, the intent of the rankings is to highlight the most prolific real estate authors and institutions throughout the world based on publications in the three most respected real estate journals: the Journal of Real Estate Finance and Economics, the Journal of Real Estate Research, and Real Estate Economics. The most recent rankings, compared to previous rankings, reflect impacts based on faculty relocating to different universities, resulting in changes in the institutional rankings. Smaller impacts can also occur due to Ph.D. students graduating from one program and transitioning into employment in academia, government, or the private sector. Journal: Journal of Real Estate Literature Pages: 255-261 Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090485 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090485 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:255-261 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090486_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Samuel Azasu Author-X-Name-First: Samuel Author-X-Name-Last: Azasu Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Title: What Constitutes a Research Contribution in Real Estate Related Fields? A Survey of Journal Editors Abstract: The real estate academy has always prioritized with the quality of research and research contribution. We conducted an online survey of journal editors and associate editors in real estate, housing, planning, and related fields in summer 2015. The responding editors from 23 journals represent 74% of the population. Among the dozen potential contributions, developing new theories that can be applied to existing, new or even old problems top the list, followed by identification of a new phenomenon and innovative application of methods. Lowest priority is given to potential for citations, case studies, and straight replication, which have the weakest impact. In practice, actual published articles generally followed the priorities set forth by editors. However, the most impactful articles published recently did not meet this lofty standard, instead representing application of a new method to an existing problem. The survey revealed interesting facts about journal editors, best practice, impact factors, use of reviewer software, and advice for emerging scholars. Journal: Journal of Real Estate Literature Pages: 263-290 Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090486 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090486 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:263-290 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090487_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jufri Marzuki Author-X-Name-First: Jufri Author-X-Name-Last: Marzuki Title: Analysis of the Performance and Diversification Benefits of the South Africa Commercial Real Estate Market Abstract: The South Africa real estate market is an important African real estate market, having attracted considerable investor interest in recent years; particularly from domestic real estate investors. This paper highlights the risk-adjusted performance and portfolio diversification benefits of commercial real estate in South Africa in a mixed-asset portfolio over the 1996–2016 period, as well as in a post-GFC context. The risk- adjusted returns analysis demonstrates a clear distinction of the performance of commercial real estate in South Africa, with both direct and listed real estate providing competitive risk-adjusted performance compared to stocks and bonds. Importantly, both direct and listed real estate contributed significantly in mixed-asset portfolios due to improved portfolio diversification benefits since the GFC. The strategic real estate investment implications are also highlighted. Journal: Journal of Real Estate Literature Pages: 291-311 Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090487 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090487 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:291-311 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090488_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Daniyar Altayevich Kaldiyarov Author-X-Name-First: Daniyar Altayevich Author-X-Name-Last: Kaldiyarov Author-Name: Mihail Nikolaevich Dudin Author-X-Name-First: Mihail Nikolaevich Author-X-Name-Last: Dudin Author-Name: Konstantin Yurievich Reshetov Author-X-Name-First: Konstantin Yurievich Author-X-Name-Last: Reshetov Author-Name: Boris Igorevich Bashilov Author-X-Name-First: Boris Igorevich Author-X-Name-Last: Bashilov Author-Name: Igor Yurievich Noskov Author-X-Name-First: Igor Yurievich Author-X-Name-Last: Noskov Title: Developing Vehicles for Collective Investment in Real Estate in the Russian Federation Abstract: The goal of this study is to analyze trends in the development of real estate investment trusts (REITS) in Russia and to identify promising vehicles for collective investment in real estate based on the study of foreign practice of countries with a developed REIT industry. Comparative analysis of primary and secondary information on the entities of the collective investment market, the financial and stock markets of Russia, and foreign REITs were used as research methods. The findings reveal that the Russian REIT market lags far behind the world and European levels. Evaluation of REIT regulations in countries with a developed financial market shows that regulators' attention should be focused on protecting investors' rights and creating conditions for expanding collective investment vehicles. Journal: Journal of Real Estate Literature Pages: 313-329 Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090488 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090488 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:313-329 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090489_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Artem Meshcheryakov Author-X-Name-First: Artem Author-X-Name-Last: Meshcheryakov Title: Using Online Search Queries in Real Estate Research with an Empirical Example of Arson Forecast Abstract: In this paper, I introduce a user's guide to Google Trends, a service created by Google to make statistics about online searches available to everyone at no cost. I review the service's advantages over conventional sources of data from a researcher's point of view. I also cover the most important stages of a real estate study that employs online search statistics from Google in a step-by-step user's guide. In the guide, I discuss how to compose and refine a list of search terms and how to access, download, process, and apply online search data in real estate research. I illustrate each step of an empirical real estate study. In the study, I test whether the intensity of online searches for specific keywords in metropolitan statistical areas (MSAs) can help to forecast future arson incidents in those areas. The findings reveal that lagged searches for “foreclosure” are significantly positively associated with the number of arson incidents in the same MSA where online searches have been conducted. The findings also show that lagged searches for “arson,” “restructuring,” and “strategic default” are negatively related to the number of intentional property fires. Journal: Journal of Real Estate Literature Pages: 331-361 Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090489 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090489 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:331-361 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090490_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joshua A. Harris Author-X-Name-First: Joshua A. Author-X-Name-Last: Harris Title: Real Estate Development Matrix Journal: Journal of Real Estate Literature Pages: 363-367 Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090490 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090490 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:363-367 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090491_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2017 American Real Estate Society Journal Manuscript Prize Winners Journal: Journal of Real Estate Literature Pages: bmi-bmxv Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090491 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090491 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:bmi-bmxv Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090492_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Co-Editors Author-X-Name-First: Author-X-Name-Last: Co-Editors Author-Name: Eli Beracha Author-X-Name-First: Eli Author-X-Name-Last: Beracha Author-Name: David M. Harrison Author-X-Name-First: David M. Author-X-Name-Last: Harrison Author-Name: Mauricio Rodriguez Author-X-Name-First: Mauricio Author-X-Name-Last: Rodriguez Title: Journal of Real Estate Literature, Volume 26, Number 2, 2018 Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 2 Volume: 26 Year: 2018 Month: 10 X-DOI: 10.1080/10835547.2018.12090492 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12090492 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:26:y:2018:i:2:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090493_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Mariya Letdin Author-X-Name-First: Mariya Author-X-Name-Last: Letdin Author-Name: Corbitt Stace Sirmans Author-X-Name-First: Corbitt Stace Author-X-Name-Last: Sirmans Author-Name: G. Stacy Sirmans Author-X-Name-First: G. Stacy Author-X-Name-Last: Sirmans Author-Name: Emily N. Zietz Author-X-Name-First: Emily N. Author-X-Name-Last: Zietz Title: Explaining REIT Returns Abstract: The popularity of real estate investment trusts (REITs) as an investment vehicle and the current record-breaking performance of the stock market in the United States have triggered an increased interest in understanding how REITs perform relative to other investments. Numerous research studies examine whether REITs behave like stocks and bonds and have worked to identify factors that impact REIT returns. Others examine the asset pricing structure of various assets, including REITs, to identify predictive information useful for investors. In this study, we organize this literature into five categories and provide summary information on each area. The categories are: (1) valuation models and REIT returns, (2) REIT return volatility, (3) REIT returns and asset growth, (4) the impact of financial leverage on REIT returns, and (5) REIT returns and investor sentiment. Results are aggregated into a framework highlighting findings that are useful in explaining the REIT return behavior. Journal: Journal of Real Estate Literature Pages: 1-25 Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090493 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090493 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:1-25 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090494_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David McIlhatton Author-X-Name-First: David Author-X-Name-Last: McIlhatton Author-Name: Rachel Monaghan Author-X-Name-First: Rachel Author-X-Name-Last: Monaghan Author-Name: Jim Berry Author-X-Name-First: Jim Author-X-Name-Last: Berry Author-Name: John Cuddihy Author-X-Name-First: John Author-X-Name-Last: Cuddihy Author-Name: David Chapman Author-X-Name-First: David Author-X-Name-Last: Chapman Author-Name: Pernille Christensen Author-X-Name-First: Pernille Author-X-Name-Last: Christensen Title: Protecting Commercial Real Estate and Crowded Places from Terrorism Abstract: Increasingly, commercial real estate and crowded places have become common targets for terrorist actions. Despite this, little empirical research exists explaining how such locations could be made more resilient, particularly in the context of new developments. The research presented in this article contributes to the literature by identifying what may potentially incentivize real estate developments to include counterterrorism protective security measures in future commercial real estate and crowded places schemes. The research is based on 142 interviews conducted in the United Kingdom, United States, and Australia, with the findings highlighting that incentivization is both complex and varied. Journal: Journal of Real Estate Literature Pages: 103-116 Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090494 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090494 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:103-116 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090495_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Azamat Auyezkhanuly Author-X-Name-First: Azamat Author-X-Name-Last: Auyezkhanuly Author-Name: Manap Almagul Author-X-Name-First: Manap Author-X-Name-Last: Almagul Author-Name: Aidos Akpanov Author-X-Name-First: Aidos Author-X-Name-Last: Akpanov Author-Name: Alma Karshalova Author-X-Name-First: Alma Author-X-Name-Last: Karshalova Title: The Study of the Residential Real Estate Market in the Republic of Kazakhstan Abstract: In this study, we assess the residential real estate market in the Republic of Kazakhstan and develop measures to improve its affordability. We use comparative and retrospective analysis of statistical indicators to assess the trends in the development of the residential real estate market in Kazakhstan, as well as the state of the housing credit system. The results show that despite the growth in housing construction, affordability remains low in comparison with developed countries. Experts believe that government support measures that include the formation of a rental non-commercial housing market, the creation and development of unitary rental property funds, as well as the shift from shared financing to project financing of residential construction will lead to affordable housing. Journal: Journal of Real Estate Literature Pages: 117-133 Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090495 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090495 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:117-133 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090496_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joshua A. Harris Author-X-Name-First: Joshua A. Author-X-Name-Last: Harris Title: Book Reviews Journal: Journal of Real Estate Literature Pages: 135-142 Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090496 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090496 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:135-142 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090497_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tim Jones Author-X-Name-First: Tim Author-X-Name-Last: Jones Author-Name: G. Stacy Sirmans Author-X-Name-First: G. Stacy Author-X-Name-Last: Sirmans Title: Understanding Subprime Mortgage Default Abstract: The explosive growth of subprime mortgage originations in the early 2000s coincided with the initial formation, and subsequent collapse, of the residential housing bubble. Given their relatively poor credit histories and lack of loan documentation, borrowers in the subprime market were at a greater risk of default than borrowers in the prime market. Yet, despite all the warning signs, these borrowers were able to obtain subprime mortgages. Why did mortgage originators provide subprime loans to borrowers who could not afford them? Why did these borrowers ultimately default on their loans? How can we best prevent another housing market collapse? Academics, industry practitioners, and policymakers alike must address these questions, and several others, so that we can better understand why subprime default rates hit unprecedented levels not observed since the Great Depression. In this paper, we review the extant literature on the underlying determinants of the subprime mortgage crisis with an emphasis on (1) predatory lending and anti-predatory lending laws, (2) declines in house price appreciation rates, (3) securitization, (4) deteriorating underwriting standards and inaccurate credit risk models, and (5) alternative mortgage products. Journal: Journal of Real Estate Literature Pages: 27-52 Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090497 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090497 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:27-52 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090498_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dustin C. Read Author-X-Name-First: Dustin C. Author-X-Name-Last: Read Author-Name: Thomas Skuzinski Author-X-Name-First: Thomas Author-X-Name-Last: Skuzinski Author-Name: Andrew R. Sanderford Author-X-Name-First: Andrew R. Author-X-Name-Last: Sanderford Title: Increasing the Understanding of Fiscal Impact Analysis to Help Real Estate Developers More Effectively Manage Process Risk Abstract: Municipal governments have conducted fiscal impact analysis for decades to plan for and evaluate anticipated real estate development. Nonetheless, the literature offers relatively little guidance as to when it is used or how it is used to inform land use policy decisions. This is surprising given the significant impact this type of analysis has on real estate developers interested in obtaining regulatory entitlements for their projects. By examining both the benefits and limitations of fiscal impact analysis, as well as highlighting issues in need of future research, we seek to help real estate developers more effectively manage their process risk exposure in an effort to achieve market acceptable rates of return. Journal: Journal of Real Estate Literature Pages: 53-66 Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090498 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090498 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:53-66 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090499_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Regina M. Beard Author-X-Name-First: Regina M. Author-X-Name-Last: Beard Author-Name: Marcus T. Allen Author-X-Name-First: Marcus T. Author-X-Name-Last: Allen Title: Where Else Do the Top 47 Real Estate Researchers Publish? Abstract: In a recent article in this journal, Saginor (2015) identified and ranked the top 47 real estate researchers based on the number of their appearances as authors of articles in the three most prominent real estate journals over the 2011–2015 period. In this study, we ask two questions as extensions of the Saginor study: (1) Where else do the top 47 real estate researchers publish? and (2) Do their rank positions change when publications in other journals are taken into consideration? The results suggest that the top 47 real estate researchers published in 78 journals other than the three most prominent real estate journals and that most researchers' rankings are sensitive, some positively and some negatively, to inclusion of appearances in these other journals in the ranking scheme. Journal: Journal of Real Estate Literature Pages: 67-76 Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090499 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090499 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:67-76 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090500_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Riëtte Carstens Author-X-Name-First: Riëtte Author-X-Name-Last: Carstens Author-Name: Julia Freybote Author-X-Name-First: Julia Author-X-Name-Last: Freybote Author-Name: Johan De Villiers Author-X-Name-First: Johan Author-X-Name-Last: De Villiers Title: The Impact of South African REIT Portfolio Composition on Diversification Benefits for Foreign REIT Investors Abstract: We investigate the impact of the geographical investment focus of real estate investment trusts (REITs) in South Africa on their potential diversification benefits for foreign REIT investors. We focus on S.A. REITs as a laboratory as they vary in their geographical investment focus. In particular, some S.A. REITs predominantly invest in commercial real estate in South Africa while others predominantly invest in developed markets in Europe. Using the perspective of a foreign investor holding U.S. REITs, we find that S.A. REITs with foreign holdings have superior diversification benefits for foreign investors, in terms of portfolio variance and Sharpe ratio, than S.A. REITs with predominantly domestic holdings. Thus, while emerging market REITs provide diversification benefits to foreign investors, the exposure of these REITs to commercial real estate markets in developed countries further increases these benefits. Explanations include emerging country-specific risks. Journal: Journal of Real Estate Literature Pages: 77-101 Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090500 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090500 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:77-101 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090501_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: bmi-bmxiii Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090501 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090501 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:bmi-bmxiii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090502_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Eli Beracha Author-X-Name-First: Eli Author-X-Name-Last: Beracha Author-Name: David M. Harrison Author-X-Name-First: David M. Author-X-Name-Last: Harrison Author-Name: Mauricio Rodriguez Author-X-Name-First: Mauricio Author-X-Name-Last: Rodriguez Title: Front Matter Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 1 Volume: 27 Year: 2019 Month: 8 X-DOI: 10.1080/10835547.2019.12090502 File-URL: http://hdl.handle.net/10.1080/10835547.2019.12090502 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090503_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Justin D. Benefield Author-X-Name-First: Justin D. Author-X-Name-Last: Benefield Author-Name: Frank Hefner Author-X-Name-First: Frank Author-X-Name-Last: Hefner Author-Name: Harris Hollans Author-X-Name-First: Harris Author-X-Name-Last: Hollans Title: Green Certifications in Residential Real Estate: Discounted Cost Savings or Name Recognition? Abstract: A variety of green certifications is now available for residential housing in the United States. However, they have not been thoroughly investigated yet. The few existing studies have found positive valuation impacts for green-certified homes, mainly using the ENERGY STAR certification, relative to homes with no green certification. In this study, we utilize a sample comprised only of green-certified homes to test for differences in transaction outcomes across different types of green certifications. The results indicate that ENERGY STAR certified homes experience a significant price increase relative to other types of green certification, while EarthCraft certified homes do not. Given that the expected energy savings for EarthCraft certification and ENERGY STAR certification are almost identical, but EarthCraft requires additional green building standards to be met, these results are interpreted as evidence that home buyers are assigning value simply to the more recognizable program name rather than the potential cost savings (or other benefits) from program participation. Journal: Journal of Real Estate Literature Pages: 143-158 Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/0927-7544.27.2.143 File-URL: http://hdl.handle.net/10.22300/0927-7544.27.2.143 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:143-158 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090504_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John W. O'Neill Author-X-Name-First: John W. Author-X-Name-Last: O'Neill Title: Recreational Marijuana Legalization: Its Effects on Hotel Performance Abstract: As states and local areas consider legalizing the use of recreational marijuana, research is needed for hotel real estate owners/investors and government officials to understand its effects in a wide context. In this study, we examine the effects of recreational marijuana legalization (RML) on hotel performance in one of the areas where RML was first approved, namely the Denver area. Specifically, we analyze the effects of RML on hotel performance in the Denver area in general, whether any effects were more pronounced on certain types of hotels, and whether they were more prominent based on distance of hotels relative to recreational marijuana dispensaries. We found more support for RML positively affecting hotel revenues in certain types of hotels, particularly economy/tourist-class hotels, than for RML positively affecting hotels proximate to RML dispensaries. Journal: Journal of Real Estate Literature Pages: 159-180 Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/0927-7544.27.2.159 File-URL: http://hdl.handle.net/10.22300/0927-7544.27.2.159 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:159-180 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090505_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (Real) Rankings for 2015–2019 Abstract: This is the fifth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings only account for articles published in the top three real estate journals: the Journal of Real Estate Finance and Economics, the Journal of Real Estate Research, and Real Estate Economics. As mentioned in previous versions of these rankings, the changes in rankings highlight movements of three different types. The first movement is a faculty member with a track record of publication in these top journals accepting a position at a new company or university. The second and third movements reflect bookends of careers. Newly-minted doctoral students with productive research beginning their real estate careers serve as one bookend. The other bookend reflects the retirement of well-established real estate researchers in academia or institutions. Journal: Journal of Real Estate Literature Pages: 181-187 Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/0927-7544.27.2.181 File-URL: http://hdl.handle.net/10.22300/0927-7544.27.2.181 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:181-187 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090506_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Yuval Arbel Author-X-Name-First: Yuval Author-X-Name-Last: Arbel Author-Name: Chaim Fialkoff Author-X-Name-First: Chaim Author-X-Name-Last: Fialkoff Author-Name: Amichai Kerner Author-X-Name-First: Amichai Author-X-Name-Last: Kerner Title: Determinants of Ownership Rates among New Immigrants to Israel: Ethnic Origin and Tenure Mode in the Host Country Abstract: The immigration motivation hypothesis stresses the different inclinations of new immigrants to settle permanently in the host country. The group of reactive immigrants, who lack the real option to emigrate back to their country of origin, assign high priority to buying a home. In contrast, the proactive group of immigrants tends to postpone the purchase decision. We test this hypothesis based on the 2010 Israeli Central Bureau of Statistics absorption survey of new immigrants. The findings indicate a better assimilation effect among the proactive Former-Soviet Union (FSU) immigration compared with reactive Ethiopian immigration, and may be of assistance to demographers and policy planners. Journal: Journal of Real Estate Literature Pages: 189-226 Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/0927-7544.27.2.189 File-URL: http://hdl.handle.net/10.22300/0927-7544.27.2.189 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:189-226 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090507_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thabelo Ramantswana Author-X-Name-First: Thabelo Author-X-Name-Last: Ramantswana Author-Name: Koech Cheruiyot Author-X-Name-First: Koech Author-X-Name-Last: Cheruiyot Author-Name: Samuel Azasu Author-X-Name-First: Samuel Author-X-Name-Last: Azasu Title: Corporate Headquarters Location Preferences in the South African Metropolitan Areas: A Conjoint Analysis Approach Abstract: The preferences of location for corporate headquarters (CHQs) vary across different contexts. We reviewed the location preference levels among the South African CHQs located in different metropolitan municipalities (metros). The study was conducted using an online survey across the Johannesburg Stock Exchange (JSE)-listed companies in South Africa. The self-explicated conjoint model was used to analyze the trade-offs that CHQs make amongst the competing attributes of location. The findings reveal that access, developed infrastructure, proximity to supporting industries and service providers, access to a skilled labor force, frequent and efficient flights, favorable property taxes, tax incentives, and a favorable legal and regulatory framework are the most preferred attributes of location. The location preference levels explain the concentration of CHQs in particular metros, thereby challenging policy makers, property developers, and investors to facilitate improvements in other metros so as to attract CHQs. Journal: Journal of Real Estate Literature Pages: 227-244 Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/0927-7544.27.2.227 File-URL: http://hdl.handle.net/10.22300/0927-7544.27.2.227 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:227-244 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090508_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Douw Gert Brand Boshoff Author-X-Name-First: Douw Gert Brand Author-X-Name-Last: Boshoff Author-Name: Joseph Awoamim Yacim Author-X-Name-First: Joseph Awoamim Author-X-Name-Last: Yacim Author-Name: Abdullahi Alhassan Ahmed Author-X-Name-First: Abdullahi Alhassan Author-X-Name-Last: Ahmed Title: The Hedonic Modeling of Property Prices: Case Study on Cape Town, South Africa Abstract: The real estate and valuation discipline has embraced the recent developments in spatial data analysis as a way of remediating obvious limitations of the ordinary least squares (OLS) approach in handling spatial effects. However, despite the development, the South African property market has yet to embrace spatial analysis when estimating property prices. The objective of this study is to understand the rationale behind the use of spatial hedonic modeling on the Cape Town property market by first testing the data against the existence of spatial effects and using the appropriate techniques to correct the glitches. A spatial error autocorrelation model and geographically weighted regression (GWR) were employed to correct spatial dependence (autocorrelation) and spatial heterogeneity on 3,232 observations. The relative performance of the two spatial modeling techniques as revealed by their goodness-of-fit are quite impressive but the spatial error model marginally outperforms the GWR. Thus, it is recommended that any of these techniques can be used in modeling property prices in the Cape Town market. Journal: Journal of Real Estate Literature Pages: 245-267 Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/0927-7544.27.2.245 File-URL: http://hdl.handle.net/10.22300/0927-7544.27.2.245 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:245-267 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090509_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David Koch Author-X-Name-First: David Author-X-Name-Last: Koch Author-Name: Miroslav Despotovic Author-X-Name-First: Miroslav Author-X-Name-Last: Despotovic Author-Name: Sascha Leiber Author-X-Name-First: Sascha Author-X-Name-Last: Leiber Author-Name: Muntaha Sakeena Author-X-Name-First: Muntaha Author-X-Name-Last: Sakeena Author-Name: Mario Döller Author-X-Name-First: Mario Author-X-Name-Last: Döller Author-Name: Matthias Zeppelzauer Author-X-Name-First: Matthias Author-X-Name-Last: Zeppelzauer Title: Real Estate Image Analysis: A Literature Review Abstract: Image analysis and computer vision are powerful techniques that are successfully used in different domains, but have hardly found their way into the real estate sector. However, real estate offers great potential, as there is a large amount of image content related to buildings and their surrounding implicitly providing rich building-related and contextual information. In the field of computer vision, there has recently been an increasing attention to real estate images. In this paper, we review current trends in real estate image analysis (REIA) and investigate the potential of image analysis for the real estate sector. We lay the groundwork for more comprehensive analyses of real estate image data, which should help to inspire novel approaches, methods, and services in the field. Journal: Journal of Real Estate Literature Pages: 269-300 Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/0927-7544.27.2.269 File-URL: http://hdl.handle.net/10.22300/0927-7544.27.2.269 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:269-300 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090510_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nasr Kheir Author-X-Name-First: Nasr Author-X-Name-Last: Kheir Author-Name: Boris A. Portnov Author-X-Name-First: Boris A. Author-X-Name-Last: Portnov Author-Name: Rassem Khamaisi Author-X-Name-First: Rassem Author-X-Name-Last: Khamaisi Title: Ethnic Differences Behind Home Price Disparities in a Midsize City: The City of Akko, Israel as a Case Study Abstract: The study focuses on intra-urban disparities in home prices in the city of Akko in Israel, historically divided into the section with a Jewish majority, the section with an Arab majority, and the ethnically mixed enclave. The sale prices of comparable properties in different parts of the city are found to fluctuate more than four- to fivefold. We attribute these trends to ethnic and socioeconomic status differences, creating forces of attraction and aversion among different population groups. The knowledge about the effect of ethnic differences on housing prices is considered to be important due to the increasing ethnic diversity of cities worldwide. Journal: Journal of Real Estate Literature Pages: 301-320 Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/0927-7544.27.2.301 File-URL: http://hdl.handle.net/10.22300/0927-7544.27.2.301 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:301-320 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090511_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Real Estate Literature Pages: bmi-bmxvii Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/i0927-7544-27-2-bmi File-URL: http://hdl.handle.net/10.22300/i0927-7544-27-2-bmi File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_12090512_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Real Estate Literature Pages: fmi-fmx Issue: 2 Volume: 27 Year: 2019 Month: 12 X-DOI: 10.22300/i0927-7544-27-2-fmi File-URL: http://hdl.handle.net/10.22300/i0927-7544-27-2-fmi File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:27:y:2019:i:2:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1793578_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David Barker Author-X-Name-First: David Author-X-Name-Last: Barker Author-Name: David C. Ling Author-X-Name-First: David C. Author-X-Name-Last: Ling Author-Name: Milena Petrova Author-X-Name-First: Milena Author-X-Name-Last: Petrova Title: The Benefits and Costs of Tax Deferral: An Analysis of Section 1031 Exchanges Abstract: We examine the effects of Section 1031 of the Internal Revenue Code on commercial real estate (CRE) investors and markets, as well as on U.S. Treasury revenue. We first develop a partial equilibrium model that quantifies for the property owner the present value of tax savings in an exchange versus a fully-taxable sale and the cost in foregone tax revenues to the U.S. Treasury. We estimate that the incremental present value of a CRE exchange, as a percentage of the price of the relinquished property, ranges from less than 1% to approximately 8%. We then discuss the extent to which these incremental net present values (NPVs) can be used as estimates of the likely effects that elimination of CRE exchanges may have on local market values. Finally, we discuss the effects of elimination on U.S. Treasury revenue. Journal: Journal of Real Estate Literature Pages: 1-29 Issue: 1 Volume: 28 Year: 2020 Month: 8 X-DOI: 10.1080/09277544.2020.1793578 File-URL: http://hdl.handle.net/10.1080/09277544.2020.1793578 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2020:i:1:p:1-29 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1790275_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David C. Ling Author-X-Name-First: David C. Author-X-Name-Last: Ling Author-Name: Milena Petrova Author-X-Name-First: Milena Author-X-Name-Last: Petrova Title: The Impact of Like-Kind Exchanges on Investment, Leverage, and Liquidity Abstract: The empirical evidence on the effects of tax incentives on investment is mixed. Recent finance and accounting empirical studies have relied on cross-sectional studies using financial statement data; however, such research suffers from measurement issues (Hanlon & Heitzman, 2010). Using a unique transaction dataset, we examine the impact of tax deferral through like-kind exchanges on investment in the real estate market. Furthermore, we investigate the link between the deferral of capital gain taxation and the increase in the supply of assets available for acquisition due to reduced investment holding periods. Our empirical analyses demonstrate that like-kind exchanges are associated with increased investment and shorter holding periods. In addition, tax-deferral also results in reduced leverage, which represents an increased equity investment. Our results demonstrate the importance of tax-deferral through like-kind exchanges as a tool to promote investment activity, expand business, and improve liquidity. These results are especially relevant in the light of recent legislation that limits the use of like-kind exchanges to real assets. Journal: Journal of Real Estate Literature Pages: 30-49 Issue: 1 Volume: 28 Year: 2020 Month: 8 X-DOI: 10.1080/09277544.2020.1790275 File-URL: http://hdl.handle.net/10.1080/09277544.2020.1790275 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2020:i:1:p:30-49 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1790977_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Andrew Mueller Author-X-Name-First: Andrew Author-X-Name-Last: Mueller Author-Name: Drew Sanderford Author-X-Name-First: Drew Author-X-Name-Last: Sanderford Title: A Summary of Recent Urban Form Literature and Discussion of the Implications for Real Estate Developers and Investors Abstract: Recent literature using the city and its shape as a lens through which to examine various socio-technical phenomena adds new and important perspective to conversations about real estate, efficient market outcomes, and market failures, as well as the role of public policy in ameliorating the latter. Accompanying and underpinning the newer literature are detailed micro-economic and spatial data that help to facilitate the revision of our collective understanding of the dualistic ontology of urban form as both a cause and consequence of public policy and economic conditions, given the monopolistic control of the land-use development process by local governments. In this context, the objectives of this paper are to summarize recent research on urban form and its attendant data, and to discuss the implications of these studies for real estate developers and investors. Journal: Journal of Real Estate Literature Pages: 50-68 Issue: 1 Volume: 28 Year: 2020 Month: 8 X-DOI: 10.1080/09277544.2020.1790977 File-URL: http://hdl.handle.net/10.1080/09277544.2020.1790977 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2020:i:1:p:50-68 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1791559_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jinyhup Kim Author-X-Name-First: Jinyhup Author-X-Name-Last: Kim Title: Why is Black-White Residential Segregation Persistent? A Review of Recent Empirical Evidence Abstract: This study explores residential segregation in most U.S. metropolitan areas with an emphasis on separation between Black and White households. Based on six hypotheses for the underlying causes of Black-White residential segregation, (racial differences in income, racial differences in preferences for residential and neighborhood attributes, housing market discrimination, racial composition preference, racial differences in housing market information, and contribution of governmental institutions), this article updates current knowledge of residential patterns by synthesizing and critiquing the recent evidence from empirical studies conducted since 2000 on determinants of Black-White residential segregation. Journal: Journal of Real Estate Literature Pages: 69-98 Issue: 1 Volume: 28 Year: 2020 Month: 8 X-DOI: 10.1080/09277544.2020.1791559 File-URL: http://hdl.handle.net/10.1080/09277544.2020.1791559 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2020:i:1:p:69-98 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1791577_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jufri Marzuki Author-X-Name-First: Jufri Author-X-Name-Last: Marzuki Author-Name: Zaharah Manaf Author-X-Name-First: Zaharah Author-X-Name-Last: Manaf Title: Characteristics and Role of the Malaysia Commercial Real Estate Market Abstract: The commercial real estate market in Malaysia is a high-performing and important emerging real estate market in the Asia-Pacific region and globally. It has the features and qualities usually found in a developed real estate market, as it is one of the few emerging real estate markets with an open and transparent status. This study highlights the investment performance characteristics and added-value role of Malaysian commercial real estate in a mixed-asset portfolio over the 10-year period of 2010-2019. The results indicate a distinction in the risk-adjusted performance of commercial real estate investment in Malaysia. In particular, direct real estate’s risk-adjusted performance significantly exceeded that of the commonly held asset classes such as bonds and stocks. However, the risk-adjusted performance of listed real estate was hampered by its high level of volatility. Further, direct real estate and, to a slightly lesser extent, listed real estate were able to potentially enhance a portfolio’s performance when deployed in a diversified investment portfolio. Overall, this study provides an empirical validation of the unique performance characteristics of commercial real estate in Malaysia, as investors seek to reconfigure their portfolios using assets with potential for greater investment returns in this current highly volatile investment environment. Journal: Journal of Real Estate Literature Pages: 99-111 Issue: 1 Volume: 28 Year: 2020 Month: 8 X-DOI: 10.1080/09277544.2020.1791577 File-URL: http://hdl.handle.net/10.1080/09277544.2020.1791577 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2020:i:1:p:99-111 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1790215_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: George D. Cashman Author-X-Name-First: George D. Author-X-Name-Last: Cashman Author-Name: David M. Harrison Author-X-Name-First: David M. Author-X-Name-Last: Harrison Author-Name: Hainan Sheng Author-X-Name-First: Hainan Author-X-Name-Last: Sheng Title: Underpriced REITs: The Long & The Short of It Abstract: Effective and efficient decision making relies upon asset pricing models. Over the past 25 years, these models have increased markedly in their sophistication from the classic single-factor (CAPM) market model to an ever-expanding array of new tools and techniques incorporating multiple risk factors. Among these, Stambaugh et al. (2012) propose a composite metric that incorporates many previously identified anomalies into a single measure. This increasingly common control in the broad investment literature is beginning to find its way into the real estate field. In this paper, we provide a detailed description of the data and methodology necessary to use the composite metric (CM) in REIT research. Additionally, we present evidence that while CM exhibits predictive power over REIT returns, the principles underlying its predictive power are different than those observed in traditional non-REIT equity markets. More specifically, unlike in the broad investment literature where CM is found to identify only over-price securities, in the REIT market CM identifies REITs which are both overpriced and underpriced. Journal: Journal of Real Estate Literature Pages: 112-129 Issue: 1 Volume: 28 Year: 2020 Month: 8 X-DOI: 10.1080/09277544.2020.1790215 File-URL: http://hdl.handle.net/10.1080/09277544.2020.1790215 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2020:i:1:p:112-129 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1791578_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joshua A. Harris Author-X-Name-First: Joshua A. Author-X-Name-Last: Harris Title: What It Takes: Lessons in the Pursuit of Excellence Journal: Journal of Real Estate Literature Pages: 130-131 Issue: 1 Volume: 28 Year: 2020 Month: 8 X-DOI: 10.1080/09277544.2020.1791578 File-URL: http://hdl.handle.net/10.1080/09277544.2020.1791578 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2020:i:1:p:130-131 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1876433_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Wei Yu Author-X-Name-First: Wei Author-X-Name-Last: Yu Author-Name: Zhongming Ma Author-X-Name-First: Zhongming Author-X-Name-Last: Ma Author-Name: Gautam Pant Author-X-Name-First: Gautam Author-X-Name-Last: Pant Author-Name: Jing Hu Author-X-Name-First: Jing Author-X-Name-Last: Hu Title: The Effect of Virtual Tours on House Price and Time on Market Abstract: The integration of augmented reality in virtual tours was recently identified as a top emerging trend in real estate. However, little research has been conducted to examine the impact of existing virtual tours on house search process and transaction price. Our article aims to fill this gap by studying the impact of virtual tours on transaction price and marketing duration (time on market). Matching the 2016 Orange County multiple listing service (MLS) single-family transaction records with Home Mortgage Disclosure Act (HMDA) data and U.S. Census data, we apply both propensity score matching methods and two-stage least squares (2SLSs) models with instrumental variables derived by machine learning and text analytics methods. The findings of this study not only shed light on the importance of the current and future use of technology, but also provide practical implications for real estate stakeholders with respect to effective strategies to improve house value and increase property sales. Journal: Journal of Real Estate Literature Pages: 133-149 Issue: 2 Volume: 28 Year: 2021 Month: 1 X-DOI: 10.1080/09277544.2021.1876433 File-URL: http://hdl.handle.net/10.1080/09277544.2021.1876433 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2021:i:2:p:133-149 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1876436_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (REAL) Rankings for 2016–2020 Abstract: This is the sixth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings only account for articles published in the top three real estate journals (Journal of Real Estate Finance and Economics, Journal of Real Estate Research, and Real Estate Economics). Unlike previous versions of these rankings, this year’s results include a discussion of ranking real estate journals based on a survey of the peer-reviewed literature. This discussion is intended to enhance recognition of the importance and role of these rankings outside the context of traditional impact factors. Where fluctuations in these rankings exist, movement continues to be due to highly productive faculty members moving to other universities. To a lesser degree, fluctuations in the rankings are attributed to hiring recent doctoral graduates with publication records and, in some cases, retirements. Journal: Journal of Real Estate Literature Pages: 150-160 Issue: 2 Volume: 28 Year: 2021 Month: 1 X-DOI: 10.1080/09277544.2021.1876436 File-URL: http://hdl.handle.net/10.1080/09277544.2021.1876436 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2021:i:2:p:150-160 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1876434_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jinyhup Kim Author-X-Name-First: Jinyhup Author-X-Name-Last: Kim Title: What Are the Real Determinants of Housing Tenure Decisions? The Empirical Evidence on Five Hypotheses Abstract: For many years in the United States, there has been consistent interest in academic research and policy debate regarding household tenure choice as researchers aim to drive policy that promotes higher levels of homeownership. Despite myriad studies and debates concerning the real causes of changes in housing tenure, there is still much disagreement on the contributing factors to this phenomenon. This article offers a summary and critique of the U.S. empirical evidence on five hypotheses concerning the determinants of tenure decision: (1) income, wealth, and employment status; (2) life-cycle factors; (3) user cost, financial constraints, and economic downturn; (4) residential mobility and location; and (5) prior tenure. This study provides useful information for local and state policymakers and incorporates comprehensive empirical evidence, methodologies, and variables for tenure-choice research. Journal: Journal of Real Estate Literature Pages: 161-189 Issue: 2 Volume: 28 Year: 2021 Month: 1 X-DOI: 10.1080/09277544.2021.1876434 File-URL: http://hdl.handle.net/10.1080/09277544.2021.1876434 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2021:i:2:p:161-189 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1876435_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Timothy Dombrowski Author-X-Name-First: Timothy Author-X-Name-Last: Dombrowski Author-Name: Dimuthu Ratnadiwakara Author-X-Name-First: Dimuthu Author-X-Name-Last: Ratnadiwakara Author-Name: V. Carlos Slawson Author-X-Name-First: V. Carlos Author-X-Name-Last: Slawson Title: The FIMA NFIP’s Redacted Policies and Redacted Claims Datasets Abstract: The National Flood Insurance Program (NFIP) was created in 1968 and allows homeowners, renters, and businesses to purchase flood insurance from the federal government. During the summer of 2019, without compromising privacy, the Federal Emergency Management Agency (FEMA) released two datasets containing roughly 50 million flood insurance policy observations (beginning in 2009) and 2.5 million flood insurance claims (beginning in 1970). Researchers can now download and evaluate the entire policies and claims datasets in machine-readable format, bypassing the complex request procedures of the past. We explore what is included in this policy and claims data and how they might be used to examine flood insurance related topics. We provide real estate academics and industry professionals with the details of the 44 usable policy data variables and the 37 usable claims data variables, which we group into seven categories: Locational, Structural, Occupancy, Policy Terms, Zone/Elevation/Rating, Premiums, and Claims. In an effort to aid researchers with the initial complexities of working with the data, we provide sample R-code that can be altered to analyze NFIP data. Finally, for illustration, we demonstrate how the NFIP data can be merged with data from both the American Community Survey and Zillow to study the determinants of flood insurance take-up. Journal: Journal of Real Estate Literature Pages: 190-212 Issue: 2 Volume: 28 Year: 2021 Month: 1 X-DOI: 10.1080/09277544.2021.1876435 File-URL: http://hdl.handle.net/10.1080/09277544.2021.1876435 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2021:i:2:p:190-212 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1850059_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Solomon Pelumi Akinbogun Author-X-Name-First: Solomon Pelumi Author-X-Name-Last: Akinbogun Author-Name: Clinton Aigbavboa Author-X-Name-First: Clinton Author-X-Name-Last: Aigbavboa Title: Analysis of the Factors Affecting Will-Making for Property Transfer and the Role of Corporate Social Responsibility in Property Management Abstract: Despite failing the test of local acceptance, customary law often applies to intestate administration of property rights in Nigeria. The purpose of this study is to analyze the factors affecting will-making for property transfer by descent and the impact of corporate social responsibility (CSR) of property managers in a city where intestacy is widespread. Using a set of data collected from 306 respondents by survey in Lagos, factor analysis was applied to analyze the variables affecting will-making. Also, data were collected from 114 property managers and analyzed using binary logistic regression to examine the effect of CSR on will-making. The results show that the factors affecting the possibility of making a will for property rights transfer can be classified into three major themes, namely; social impact, family structure, and belief. Only one of the 14 factors analyzed was excluded from the theme due to a poor factor loading (<0.05), which put its effect in doubt. The ownership of a valid will is generally low. None of the low- and middle-income housing respondents had a will, while only 26% of the respondents in the high-income housing had a will. The binary logistic test of hypothesis reveals a significant relationship between property managers’ ethical CSR and will-making at 0.05 α. However, none of the property managers surveyed had incorporated the ethic into property management practice. Journal: Journal of Real Estate Literature Pages: 213-224 Issue: 2 Volume: 28 Year: 2020 Month: 11 X-DOI: 10.1080/09277544.2020.1850059 File-URL: http://hdl.handle.net/10.1080/09277544.2020.1850059 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:28:y:2020:i:2:p:213-224 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1909316_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Saul Nurick Author-X-Name-First: Saul Author-X-Name-Last: Nurick Author-Name: Andrew Thatcher Author-X-Name-First: Andrew Author-X-Name-Last: Thatcher Title: The Relationship of Green Office Buildings to Occupant Productivity and Organizational Performance: A Literature Review Abstract: The purpose of this paper is to identify and critically evaluate previous research that examines the link between green office buildings and the productivity of commercial building occupants. The overarching approach is to highlight and critique the key findings from a variety of researchers that attempt to find links specifically between indoor environmental quality (IEQ) and individual productivity. This is done to develop a theoretical model that links green building features and initiatives (GBFIs) in office buildings to individual productivity and organizational performance. This paper first provides a background of the emergence of green buildings, specifically with regards to utility costs, which led to changes in design and hence to the indoor environment. The core focus of this study is to provide a literature review of the research that attempts to link GBFIs to productivity. Various studies focus on a single or multiple components of GBFIs within different settings, such as controlled laboratory settings, field studies, or longitudinal studies. Other studies choose to focus on occupant health, comfort, and organizational outcomes in relation to GBFIs. The present study attempts to consolidate this area of research by presenting the studies and their findings thus far to develop a new theoretical model. The proposed model links GBFIs to increased individual productivity and organizational performance which results in increased building value, thus justifying the initial capital expenditure for the implementation of GBFIs. Journal: Journal of Real Estate Literature Pages: 18-42 Issue: 1 Volume: 29 Year: 2021 Month: 8 X-DOI: 10.1080/09277544.2021.1909316 File-URL: http://hdl.handle.net/10.1080/09277544.2021.1909316 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:29:y:2021:i:1:p:18-42 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1946256_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Rebecca Ivey Author-X-Name-First: Rebecca Author-X-Name-Last: Ivey Author-Name: Bradley Bereitschaft Author-X-Name-First: Bradley Author-X-Name-Last: Bereitschaft Title: The Impact of Walkability on the Sales Price of Commercial Properties When Controlling for the Effects of Economic Recession: A Case Study of Omaha, Nebraska Abstract: In this paper, we assess the potential impact of walkability on commercial property sales prices in Omaha, Nebraska in the years during and following the “Great Recession.” Walkability was determined using Walk Scores provided by Walkscore.com; commercial property sale prices were acquired from the Douglas County, NE (the core county of the Omaha metro) Assessor’s Office. The relationship between commercial sales price and walkability between 2008 and 2018 was evaluated using a multiple linear regression model based on hedonic price theory. A variable to indicate time period (either 2008–2012 to denote “recession years” or 2013–2018 to denote “post-recession years”) was added to the model to investigate the potential impact of walkability on sales prices while controlling for the effect of the Great Recession. We observed a significant positive relationship between walkability and commercial property sales prices across all models. Journal: Journal of Real Estate Literature Pages: 43-59 Issue: 1 Volume: 29 Year: 2021 Month: 8 X-DOI: 10.1080/09277544.2021.1946256 File-URL: http://hdl.handle.net/10.1080/09277544.2021.1946256 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:29:y:2021:i:1:p:43-59 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1906540_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jeffrey G. Robert Author-X-Name-First: Jeffrey G. Author-X-Name-Last: Robert Author-Name: John W. O’Neill Author-X-Name-First: John W. Author-X-Name-Last: O’Neill Title: Evaluating Hotel Time-To-Delivery (TTD): Influencing Factors and Financial Performance Abstract: The assumptions real estate developers make regarding hotel development have a significant effect on the net present value (NPV) and internal rate of return (IRR) of the proposed project. While controlling for major hotel characteristics, we study the effect of hotel time-to-delivery (TTD), consisting of both planning and construction time, on the performance of hotel operations: occupancy, average daily rate, and revenue per available room after completion. These results will inform hotel real estate developers, operators, and analysts because the duration of development serves as a detrimental influence on the initial prospects of a hotel development project. Journal: Journal of Real Estate Literature Pages: 1-17 Issue: 1 Volume: 29 Year: 2021 Month: 8 X-DOI: 10.1080/09277544.2021.1906540 File-URL: http://hdl.handle.net/10.1080/09277544.2021.1906540 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:29:y:2021:i:1:p:1-17 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_1952050_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael A. Burayidi Author-X-Name-First: Michael A. Author-X-Name-Last: Burayidi Author-Name: Sanglim Yoo Author-X-Name-First: Sanglim Author-X-Name-Last: Yoo Title: Shopping Malls: Predicting Who Lives, Who Dies, and Why? Abstract: This paper discusses the state of shopping malls in the United States with the goal to identify factors that contribute to the health of malls and why some fail and others survive. A model is developed that is used to rank shopping malls and that can be used to gauge the health of other malls. Suggestions are provided for addressing what has been dubbed the "retail apocalypse." Journal: Journal of Real Estate Literature Pages: 60-81 Issue: 1 Volume: 29 Year: 2021 Month: 8 X-DOI: 10.1080/09277544.2021.1952050 File-URL: http://hdl.handle.net/10.1080/09277544.2021.1952050 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:29:y:2021:i:1:p:60-81 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2009620_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Yunhui Zhao Author-X-Name-First: Yunhui Author-X-Name-Last: Zhao Title: Got Hurt for What You Paid? Revisiting Government Subsidy in the U.S. Mortgage Market Abstract: Using a screening model with asymmetric information, I evaluate the positive and normative effects of the subsidized default insurance policy in the U.S. mortgage market. The model implies that the subsidy raises interest rates for eligible mortgages, which is contrary to conventional wisdom but is consistent with the empirical evidence in Zhao (2019). Moreover, the model implies that the subsidy hurts borrowers it was intended to help, as well as raises the aggregate mortgage default rate. My article highlights the adverse impact of the subsidy on welfare and financial stability, and sheds light on the root cause of the global financial crisis. It also provides potentially useful reference to other countries that have (or are considering adopting) a mortgage subsidy mechanism similar to that in the US. Journal: Journal of Real Estate Literature Pages: 115-148 Issue: 2 Volume: 29 Year: 2022 Month: 3 X-DOI: 10.1080/09277544.2021.2009620 File-URL: http://hdl.handle.net/10.1080/09277544.2021.2009620 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:29:y:2022:i:2:p:115-148 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2006876_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Angela J. Black Author-X-Name-First: Angela J. Author-X-Name-Last: Black Author-Name: Steven P. Devaney Author-X-Name-First: Steven P. Author-X-Name-Last: Devaney Author-Name: Patric H. Hendershott Author-X-Name-First: Patric H. Author-X-Name-Last: Hendershott Author-Name: Bryan D. MacGregor Author-X-Name-First: Bryan D. Author-X-Name-Last: MacGregor Title: Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate Abstract: Large similarities exist between the labor and real estate space markets. The natural rate of unemployment (NRU) and the natural vacancy rate (NVR) are important in modeling these markets. The real estate literature has drawn on early modeling of the labor market and has predominantly assumed the NVR to be constant in time. We consider a range of approaches to estimate cross-sectional and time variation in the NVR for the US office market. The results provide no evidence for a time trend, but the NVR may still vary temporally although it is difficult to identify plausible and consistent variation. Journal: Journal of Real Estate Literature Pages: 83-108 Issue: 2 Volume: 29 Year: 2022 Month: 3 X-DOI: 10.1080/09277544.2021.2006876 File-URL: http://hdl.handle.net/10.1080/09277544.2021.2006876 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:29:y:2022:i:2:p:83-108 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2006885_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (REAL) Rankings for 2017–2021 Abstract: This is the seventh release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings continue to include articles published solely in the top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based on multiple rankings. Despite the pandemic and impacts to university budgets, many universities still managed to hire faculty, albeit many on term-limited visiting professor positions. The changes in this year’s rankings largely reflect the fiscal capacity of the most competitive institutions to weather the pandemic and remain productive in the real estate intellectual arena. Journal: Journal of Real Estate Literature Pages: 109-114 Issue: 2 Volume: 29 Year: 2022 Month: 3 X-DOI: 10.1080/09277544.2021.2006885 File-URL: http://hdl.handle.net/10.1080/09277544.2021.2006885 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:29:y:2022:i:2:p:109-114 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2101744_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Cornelius A. Dafeamekpor Author-X-Name-First: Cornelius A. Author-X-Name-Last: Dafeamekpor Author-Name: Theophilus Adjei-Kumi Author-X-Name-First: Theophilus Author-X-Name-Last: Adjei-Kumi Author-Name: Gabriel Nani Author-X-Name-First: Gabriel Author-X-Name-Last: Nani Author-Name: Ernest Kissi Author-X-Name-First: Ernest Author-X-Name-Last: Kissi Title: Criteria for Assessing Self-Help Housing Projects Affordability: A Critical Literature Review Abstract: Extant studies on Self-Help Housing (SHH) have centered on the types, processes, value, and challenges, but rare on the criteria for assessing its affordability. This paper presents a comprehensive review on the criteria based on published literature in 32 peer-reviewed journals. 81 relevant peer-reviewed papers were used for the study. A total of 8 criteria set, including 31 associated determinants were identified to have influence on SHH affordability. The criteria were; financing, access to land, building quality, development controls and planning regulations, building cost, location, infrastructure and services, and social issues. A framework method was adopted to select the papers. Authors from both developed and developing countries were noted to have made various pioneering contributions to SHH studies. The mean SCImago Journal Rank indicator obtained was above1.00, which showed that the journals used for the review were quality within the time frame of 1997 to 2020. Limitations were mainly seen in our dependence on Scopus, the few search engines, and the selected papers used. This study's outcome will broaden understanding of SHH affordability in developing countries on; policy formulation, housing market conditions, and research This review provides the opportunity for further empirical studies on SHH affordability metric development. Journal: Journal of Real Estate Literature Pages: 23-53 Issue: 1-2 Volume: 30 Year: 2022 Month: 7 X-DOI: 10.1080/09277544.2022.2101744 File-URL: http://hdl.handle.net/10.1080/09277544.2022.2101744 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:30:y:2022:i:1-2:p:23-53 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2093820_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kwasi Gyau Baffour Awuah Author-X-Name-First: Kwasi Author-X-Name-Last: Gyau Baffour Awuah Author-Name: Felix N. Hammond Author-X-Name-First: Felix N. Author-X-Name-Last: Hammond Title: A Review of the Provision on Capital Improvement in Ghana’s Local Real Estate Tax Manifesto Abstract: Although a potential to improve revenue mobilisation of local authorities, it is claimed Ghana’s local real estate tax provision on capital improvement is a penalty on land development. This work evaluates the claim in the context of equity and economic efficiency. Findings from the work support the claim. Compared with undeveloped lands particularly in cities, the tax is discriminatory to capital improvements, which situation could incentivise investment in undeveloped lands and be a potential cause for a lot of undeveloped lands, uncompleted and leap-frog developments in cities. It is also not neutral and diminishes the return on capital and the capacity of landlords to keep their buildings in constant repair thereby discouraging capital improvement on land. Coupled with factors like the current poor tax collection, this could affect the revenue mobilisation and socio-economic development efforts of local and central governments. Thus, the tax policy stands a plea for a reform. Journal: Journal of Real Estate Literature Pages: 94-117 Issue: 1-2 Volume: 30 Year: 2022 Month: 7 X-DOI: 10.1080/09277544.2022.2093820 File-URL: http://hdl.handle.net/10.1080/09277544.2022.2093820 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:30:y:2022:i:1-2:p:94-117 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2106639_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Author-Name: Michael G. McIntosh Author-X-Name-First: Michael G. Author-X-Name-Last: McIntosh Title: A Literature Review of Environmental, Social, and Governance (ESG) in Commercial Real Estate Abstract: Environmental, social, and governance (ESG) measures continue to grow in both academic and industry relevance. This review focuses on the commercial real estate literature related to ESG measures. The environment section outlines the significant bodies of work on that area, which are well researched. Related work discussing literature on ISO 14000, the system accepted by the United Nations Financial Council on Climate Change for carbon reporting is also reviewed. The social and governance portions explore the growing literature in those areas. The literature identifies research gaps particularly in social and governance measures, as many ESG requirements move from voluntary to regulated. Questions on the form and impact of governance—especially in private markets—remain largely unasked. Similarly, the nascent social literature continues to look for uniformity of definition for social measures and defining their business and community impact. These and other research gaps provide meaningful future research opportunities. Journal: Journal of Real Estate Literature Pages: 54-67 Issue: 1-2 Volume: 30 Year: 2022 Month: 7 X-DOI: 10.1080/09277544.2022.2106639 File-URL: http://hdl.handle.net/10.1080/09277544.2022.2106639 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:30:y:2022:i:1-2:p:54-67 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2144183_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ricarda Haffki Author-X-Name-First: Ricarda Author-X-Name-Last: Haffki Title: Determinants in Commercial Real Estate Credit Spread Models—A Review Abstract: This article presents a systematic literature review of the determinants of commercial real estate loan credit spreads from 1989 to 2019. The motivation for this analysis is twofold. First, credit spread models receive little attention in commercial real estate, since research mainly focuses on the drivers of housing credit spreads. Second, data availability in the commercial real estate loan sector is still scarce and the data often mixed with other asset or loan types, such as commercial mortgage-backed securities and their related determinants. We synthesize the literature into four dimensions: property and loan characteristics, macroeconomic aspects, and counterparty characteristics. Using an open coding process, the literature is thoroughly analyzed in 10 subcategories. The results disclose that the main determinants are property and loan characteristics, which impact the reliability and riskiness of cash flow and interest and debt service. Since researchers focus primarily on credit risk determinants, counterparty characteristics have lately gained more attention as credit spread determinants, which deserves additional empirical research. Furthermore, we observe that endogeneity issues have become more prevalent, despite difficulties in finding the best treatment and different impacts. Journal: Journal of Real Estate Literature Pages: 1-22 Issue: 1-2 Volume: 30 Year: 2022 Month: 7 X-DOI: 10.1080/09277544.2022.2144183 File-URL: http://hdl.handle.net/10.1080/09277544.2022.2144183 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:30:y:2022:i:1-2:p:1-22 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2068222_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Godwin Kavaarpuo Author-X-Name-First: Godwin Author-X-Name-Last: Kavaarpuo Author-Name: Kwadwo Ohene Sarfoh Author-X-Name-First: Kwadwo Ohene Author-X-Name-Last: Sarfoh Title: Trends, Taxonomy and the Future of Housing Research in Ghana: A Bibliometric–Thematic Study Abstract: Robust research in housing is a critical component to addressing the many housing challenges most developing cities face. In this study, we provide a comprehensive account of the evolving housing literature in Ghana based on an analysis of journal articles published in 19 top-tier housing, urban and real estate journals using bibliometric and thematic analyses. Of the 114 articles published in 1990–2019, this study shows that the literature is simultaneously increasing and diversifying. From 2011 onwards, research output grew by 6% on average. Studies on gated communities, mortgages, valuation, and homeownership are emerging. Both the keyword co-occurrence analysis and thematic analysis show a large share of the literature is related to topics on land markets and regulations and low-income housing conditions. Surprisingly, most contributors to the literature are at organisations outside of Ghana, and this has implications for policy formulation and implementation. We conclude with an outlook of potential extensions of the existing literature and “new” research areas. Journal: Journal of Real Estate Literature Pages: 68-93 Issue: 1-2 Volume: 30 Year: 2022 Month: 7 X-DOI: 10.1080/09277544.2022.2068222 File-URL: http://hdl.handle.net/10.1080/09277544.2022.2068222 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:30:y:2022:i:1-2:p:68-93 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2141341_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Shiv Prasad Singh Author-X-Name-First: Shiv Prasad Author-X-Name-Last: Singh Author-Name: Amit Kumar Author-X-Name-First: Amit Author-X-Name-Last: Kumar Author-Name: Deepak Bajaj Author-X-Name-First: Deepak Author-X-Name-Last: Bajaj Title: Critical Review of Residential Development Project Financing in India Abstract: Financing of Residential Real Estate Development (RRED) projects has not received due attention in India beyond affordable (social) housing. RRED projects continue to finance themselves through customer advances, which has been disrupted because of recessionary market conditions, supply glut, and the tough stance of the Reserve Bank of India. This has resulted in thousands of stalled RRED projects across the country for which developers cannot raise finance through any source. This paper extensively examines options of RRED project financing, across developed and emerging markets, in principle and practice. An extensive review of traditional and innovative methods of financing for RRED projects has been undertaken, and gaps have been identified in the Indian context. Authors have validated identified gaps through primary research using relative importance index and principal component analysis. Journal: Journal of Real Estate Literature Pages: 118-149 Issue: 1-2 Volume: 30 Year: 2022 Month: 7 X-DOI: 10.1080/09277544.2022.2141341 File-URL: http://hdl.handle.net/10.1080/09277544.2022.2141341 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:30:y:2022:i:1-2:p:118-149 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2092966_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas J. PlaHovinsak Author-X-Name-First: Thomas J. Author-X-Name-Last: PlaHovinsak Title: The Effect of Homeownership on Low-Income Families: A Pilot Study with Habitat for Humanity Abstract: While some studies have attempted to prove the existence of positive benefits associated with homeownership, the so-called “homeownership effect,” few studies have been able to isolate the impact of homeownership on low-income families from neighborhood effects. In a pilot study using survey data collected from applicants to the U.S.-based housing charity Habitat for Humanity, I employ a quasi-experimental design to compare changes in the lives of those who were selected into the Habitat for Humanity housing program to those who applied for housing but were denied. In addition, since the recipients of Habitat houses remain in the same general area as their original residence, this provides a unique opportunity for the comparison of treatment and control groups to examine the impact of homeownership apart from neighborhood effects. I find that, in comparison to denied applicants, Habitat homeowners report more positive changes in their overall life, economic situation, and their level of community involvement, but less evidence of reported improvements in their children’s educational outcomes. Journal: Journal of Real Estate Literature Pages: 150-172 Issue: 1-2 Volume: 30 Year: 2022 Month: 7 X-DOI: 10.1080/09277544.2022.2092966 File-URL: http://hdl.handle.net/10.1080/09277544.2022.2092966 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:30:y:2022:i:1-2:p:150-172 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2151082_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (REAL) Rankings for 2018–2022 Abstract: This is the eighth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. Similar to the previous seven releases, the rankings reflect articles contained in the top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based on multiple indices. Unlike trends from the previous rankings, minor changes regarding academic institutions reflected one of two scenarios: faculty retirements and/or deaths; and faculty and recent PhD graduates transitioning to positions in industry rather than academia. Larger changes in the rankings related to academic institutions continue to reflect movement of productive research faculty from one university to another university. Journal: Journal of Real Estate Literature Pages: 67-72 Issue: 1 Volume: 31 Year: 2023 Month: 1 X-DOI: 10.1080/09277544.2022.2151082 File-URL: http://hdl.handle.net/10.1080/09277544.2022.2151082 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:31:y:2023:i:1:p:67-72 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2186725_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Simons Author-X-Name-First: Robert Author-X-Name-Last: Simons Author-Name: Aly Karam Author-X-Name-First: Aly Author-X-Name-Last: Karam Author-Name: Yan Xiao Author-X-Name-First: Yan Author-X-Name-Last: Xiao Author-Name: Amelia S. Caldwell Author-X-Name-First: Amelia S. Author-X-Name-Last: Caldwell Title: Research and Citation Trends in Sustainable Real Estate Abstract: Interest in sustainable real estate has grown since 2009 when the American Real Estate Society launched its open access Journal of Sustainable Real Estate. Using this as a catalyst, we abstracted and analyzed 265 articles published in the nine other journals in the ARES/IRES sustainable real estate space, documenting the evolution of sustainable property research for research topic, geography, methods, and property types. From an article count, the most numerous types of studies in this corpus are from North America, using regression analysis or another quantitative technique to evaluate residential property. Popular research topics of late were the sustainable/green category, building efficiency/operations, negative proximity influence and urban form. Dynamic research topics that are consistently of interest over the past ten years are climate change and flood, earthquake, hurricane risk. Green retrofitting of buildings and green development were popular over the past five years. Regression analysis using citations as the dependent variable revealed that variables positively associated with more citations are green certification, survey research, theory building, and JRER. On the negative side, Asian markets, case study, financial and economic analysis, other research methods, building operating efficiency, and other property types are less likely to be cited. Journal: Journal of Real Estate Literature Pages: 48-66 Issue: 1 Volume: 31 Year: 2023 Month: 1 X-DOI: 10.1080/09277544.2023.2186725 File-URL: http://hdl.handle.net/10.1080/09277544.2023.2186725 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:31:y:2023:i:1:p:48-66 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2201020_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Mahsa Khoshnoud Author-X-Name-First: Mahsa Author-X-Name-Last: Khoshnoud Author-Name: G. Stacy Sirmans Author-X-Name-First: G. Stacy Author-X-Name-Last: Sirmans Author-Name: Emily N. Zietz Author-X-Name-First: Emily N. Author-X-Name-Last: Zietz Title: The Evolution of Hedonic Pricing Models Abstract: This study extends the work by Sirmans et al. (2005) by providing a review of the hedonic pricing model literature published in real estate journals from 2005 through 2021. A total of 252 studies are reviewed with 150 of these being published in the top three traditional real estate journals: Journal of Real Estate Finance and Economics, Journal of Real Estate Research, and Real Estate Economics. An additional 42 papers are published in the housing-specific journal, Journal of Housing Research. A review shows that real estate research is global in both authorship and data usage, although most of the studies use U.S. data and are performed by U.S. researchers. In addition, real estate modeling is quite expansive, including spatial or geospatial autoregressive models, difference-in-difference models, quantile regression, and other advanced techniques. Journal: Journal of Real Estate Literature Pages: 1-47 Issue: 1 Volume: 31 Year: 2023 Month: 1 X-DOI: 10.1080/09277544.2023.2201020 File-URL: http://hdl.handle.net/10.1080/09277544.2023.2201020 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:31:y:2023:i:1:p:1-47 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2273050_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Abdullah Adel Alfalah Author-X-Name-First: Abdullah Adel Author-X-Name-Last: Alfalah Author-Name: Eamonn D’Arcy Author-X-Name-First: Eamonn Author-X-Name-Last: D’Arcy Author-Name: Simon Stevenson Author-X-Name-First: Simon Author-X-Name-Last: Stevenson Title: Constructing House Price Indices in an Emerging Market: The Case of Kuwait Abstract: The estimation of reliable house price indices can be problematic in the context of small and emerging markets, often due to data availability issues. This paper considers a number of alternative approaches to constructing house price indices in the context of Kuwait. Kuwait is an interesting case in that while it has considerable wealth due to its oil reserves, it still shares many of the characteristics of an emerging economy, and in turn faces many of the same challenges with respect to housing data. The lack of individual property level data means that hedonic or repeat sales index construction methods are not viable, the paper therefore has to rely upon weighting and stratification methods. The alternative index estimations are compared by considering their accuracy in out-of-sample forecasts. The results highlight that despite the data limitations in place, largely consistent and accurate measures can still be produced. Journal: Journal of Real Estate Literature Pages: 144-160 Issue: 2 Volume: 31 Year: 2023 Month: 7 X-DOI: 10.1080/09277544.2023.2273050 File-URL: http://hdl.handle.net/10.1080/09277544.2023.2273050 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:31:y:2023:i:2:p:144-160 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2250126_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nestor Garza Author-X-Name-First: Nestor Author-X-Name-Last: Garza Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Author-Name: Leopoldo Gomez-Ramirez Author-X-Name-First: Leopoldo Author-X-Name-Last: Gomez-Ramirez Title: Globalization and Skyscrapers: The Role of Architects in Latin America and Southeast Asia Abstract: This paper performs a theoretical-empirical analysis of the effect of globalization on buildings’ height in Latin America and Southeast Asia. We develop a principal-agent model where global architecture firms use extra height as advertising in the tallest building per city, adding it to what determined by cities’ fundamentals of economic and geographic size. The model develops two ideas: (1) global architects have prestige advantages that allow them to add extra height, an advertising feature of their technical expertise and specialist competence, and (2) international architects of the Global South have additional reasons to use extra height compared to their Global North peers. The model is tested using a 2000–2018 panel database comprising 55 cities (from 25 countries). We find that in addition to economic and geography fundamentals, globalization and the location of architecture firms are strong determinants of buildings’ height, as predicted in our theoretical model of height as advertising.We develop a behavioral high-rise construction model for Global South cities.The model is tested using panel data on 55 cities from 25 countries.Buildings’ height is determined by city fundamentals and globalization.Regression results prove the effect of architects on extra height. Journal: Journal of Real Estate Literature Pages: 125-143 Issue: 2 Volume: 31 Year: 2023 Month: 7 X-DOI: 10.1080/09277544.2023.2250126 File-URL: http://hdl.handle.net/10.1080/09277544.2023.2250126 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:31:y:2023:i:2:p:125-143 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2236175_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stelios Apostolidis Author-X-Name-First: Stelios Author-X-Name-Last: Apostolidis Author-Name: Thomas Dimopoulos Author-X-Name-First: Thomas Author-X-Name-Last: Dimopoulos Author-Name: Martha Katafygiotou Author-X-Name-First: Martha Author-X-Name-Last: Katafygiotou Title: A Proposal for a Residential Housing Price Index in Cyprus Through Analysis of Transaction-Based Data and Comparison With Existing Indices Abstract: This research suggests improvements to the macroeconomic housing indices of a thin real estate market, such as that of Cyprus, by testing various index construction methods with transaction-based data. Authors employ around 80% of the total number of apartment transfers documented at the Department of Lands and Surveys (DLS) of Cyprus, spanning from the first quarter of 2015 to the second quarter of 2022. They utilize this data to generate comprehensive indices at both the national and district levels. Authors studied, analyzed, and identified the deficiencies of the DLS database and tested the sample with six different methods. Log-linear time dummy hedonic models were found to explain the variation of prices better than other methods, mainly due to their ability to handle the diversity of properties in terms of location and physical characteristics and proposed techniques to deal with the issues of the standard time dummy (STD) and rolling time dummy (RTD) methods, regarding index revisions and low transaction volume during periods of downturns, respectively. Furthermore, a hybrid dependent variable of actual and appraised prices, that is, the accepted price, extracts explicit significantly better statistical measures. Additionally, the overall model fit was enhanced by introducing locality dummy variables and, through different combinations of attributes, captured the optimal results per district. Eventually, when the introduced transaction-based indices were compared to the corresponding existing published indices, which are based on non-actual data, we saw some resemblances, but overall, there were wide deviations. Journal: Journal of Real Estate Literature Pages: 73-124 Issue: 2 Volume: 31 Year: 2023 Month: 7 X-DOI: 10.1080/09277544.2023.2236175 File-URL: http://hdl.handle.net/10.1080/09277544.2023.2236175 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:31:y:2023:i:2:p:73-124 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2309762_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Christina Yin-Chieh Lin Author-X-Name-First: Christina Yin-Chieh Author-X-Name-Last: Lin Author-Name: Andrew Mason Author-X-Name-First: Andrew Author-X-Name-Last: Mason Author-Name: Charles Ma Author-X-Name-First: Charles Author-X-Name-Last: Ma Author-Name: Andreas W. Kempa-Liehr Author-X-Name-First: Andreas W. Author-X-Name-Last: Kempa-Liehr Title: Bayesian Modelling of a Standard House Configuration Model to Analyze Housing Feature Impacts in Newly Developed Suburbs without Historical Sales Abstract: There is a recent trend of entire new suburbs being designed and built to solve the housing crisis all around the world. The aim of this study is to anticipate the value of housing features in newly developed suburbs using a Bayesian approach. We present the Standard House Configuration Model, where housing feature impacts are analyzed relative to the configuration of a standard house for easy interpretation. The benefit of using a Bayesian approach is that we describe housing feature impacts with highest density intervals, which more closely resemble the intuitive understanding of probability intervals than statistical confidence intervals. Our case study on newly developed suburbs in Auckland, New Zealand, demonstrates that the posterior distributions from our model effectively capture the complex relationship between housing features and sale price (R2 value of 93%). The proposed model is cross-validated on four recently developed suburbs in Auckland. For comparable suburbs, our model is able to make reasonably accurate price predictions without using any historical sale records from the target suburb. This indicates that the insights into housing feature impacts are applicable to other new suburbs still in the planning stage and, therefore, have the potential to support future suburb developments. Journal: Journal of Real Estate Literature Pages: 1-30 Issue: 1 Volume: 32 Year: 2024 Month: 1 X-DOI: 10.1080/09277544.2024.2309762 File-URL: http://hdl.handle.net/10.1080/09277544.2024.2309762 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:32:y:2024:i:1:p:1-30 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2298070_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Marko Orel Author-X-Name-First: Marko Author-X-Name-Last: Orel Author-Name: Ferhat Demir Author-X-Name-First: Ferhat Author-X-Name-Last: Demir Author-Name: Chiara Tagliaro Author-X-Name-First: Chiara Author-X-Name-Last: Tagliaro Author-Name: Andrej Rus Author-X-Name-First: Andrej Author-X-Name-Last: Rus Title: Pandemic-Driven Evolution: The Reshaping of Coworking Spaces in the (Post) COVID-19 Era Abstract: In recent years, coworking spaces, tailored for location-independent professionals, have flourished. However, the COVID-19 pandemic dramatically altered their conventional operations, necessitating adaptive measures like social distancing and an enhanced focus on remote collaboration. This narrative literature review delves into the pandemic’s repercussions on coworking, emphasizing potential long-term adaptations like digitalization and hybrid frameworks. Through extensive database searches, key observations include declines in revenues and occupancy, the onset of health-focused protocols, a shift to virtual community events, flexible membership contracts, and an uptick in digital service offerings. Despite reduced physical interactions, digital platforms played a crucial role in sustaining member engagement. The future of coworking may lean towards region-specific models, advanced technology integration, and a deeper understanding of resilient coworking communities. This review aims to elucidate the pandemic’s multifaceted impact on coworking, spotlighting pivotal areas for further research and offering insights for real estate professionals navigating a post-pandemic landscape. Journal: Journal of Real Estate Literature Pages: 31-50 Issue: 1 Volume: 32 Year: 2024 Month: 1 X-DOI: 10.1080/09277544.2023.2298070 File-URL: http://hdl.handle.net/10.1080/09277544.2023.2298070 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:32:y:2024:i:1:p:31-50 Template-Type: ReDIF-Article 1.0 # input file: RJEL_A_2292866_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jesse Saginor Author-X-Name-First: Jesse Author-X-Name-Last: Saginor Title: The Real Estate Academic Leadership (REAL) Rankings for 2019–2023 Abstract: This iteration of the rankings is the ninth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. The top three real estate journals - The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics – continue to serve as the basis for these rankings. Trends in the rankings continue to highlight the fact that an author does not need to be in academia to produce high-quality research published in the top real estate journals. Additionally, changes in the rankings reflect stability and staying power of author productivity and institutional productivity. Compared to previous iterations of the rankings, there are fewer changes in institutional rankings based on the movement of a productive individual. Journal: Journal of Real Estate Literature Pages: 51-56 Issue: 1 Volume: 32 Year: 2024 Month: 1 X-DOI: 10.1080/09277544.2023.2292866 File-URL: http://hdl.handle.net/10.1080/09277544.2023.2292866 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rjelxx:v:32:y:2024:i:1:p:51-56