Kauko / d'Amato Mass Appraisal Methods

An International Perspective for Property Valuers
1. Auflage 2009
ISBN: 978-1-4443-0103-8
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 360 Seiten, E-Book

Reihe: Real Estate Issues

This book takes a cross-disciplinary and cross-cultural look atmass appraisal expertise for property valuation in different marketconditions, and offers some cutting- edge approaches.
The editors establish an international platform and present thescientific debate as well as practical feasibility considerations.Heretic and orthodox valuation methods are assessed based onspecific criteria, partly technical and partly institutional.Methodological evaluation is approached using two types ofcriteria: operational concerns about how to determine propertyvalue differentials between spatial and functional units of realestate in a valid and reliable way (technical criteria); and thekind of market circumstances being operated in (institutionalcriteria). While technical criteria are relatively well-researched,there is little theoretically informed work on the connectionbetween country context and selection of property appraisalmethods.
The book starts with an examination of current mass propertyappraisal practices, presenting case studies from widely differingmarkets - from the American and Dutch, where regression-basedmethods have been used successfully for some time; to the EasternEuropean and other emerging economies, where limitations have to becompensated by focusing on the modelling assumptions.
The second part of the book looks at sophisticated modellingapproaches, some of which represent combinations of elements fromtwo or more techniques. Whatever the exact modelling approach, therequirements are always high for the quality of the data andsuitability of the method. In the final section, methods areevaluated and compared according to technical criteria and againstinstitutional contexts.With its exceptionally wide coverage ofvaluation issues, Mass Appraisal Methods: an internationalperspective for property valuers addresses property valuationproblems common to different countries and approaches applicable inboth developed and emerging economies.

Autoren/Hrsg.

Kauko, Tom

d'Amato, Maurizio

Inhaltsverzeichnis

Contributors.
Foreword.
Preface.
Abbreviations.
1 Introduction: Suitability Issues in Mass Appraisal Methodology(Tom Kauko and Maurizio d'Amato).
PART I MASS APPRAISAL PRACTICE AND RECOMMENDATIONS.
2 Data Issues Involved with the Application of AutomatedValuation Methods: A Case Study (John F. Thompson, Jr).
3 The Modified Comparable Sales Method as the Basis for aProperty Tax Valuations System and its Relationship and Comparisonto Spatially Autoregressive Valuation Models (Richard A. Borst andWilliam J. McCluskey).
4 Automated Valuation in the Dutch Housing Market: TheWeb-Application 'MarktPositie' Used by NVM-Realtors (Dree Op't Veld, Emma Bijlsma and Paulien van de Hoef).
5 Using Fuzzy Numbers in Mass Appraisal: The Case of theBelarusian Property Market (Maurizio d'Amato and NikolaiSiniak).
PART II CURRENT ADVANCED METHODS.
6 Mass Appraisal, Hedonic Price Modelling and UrbanExternalities: Understanding Property Value Shaping Processes(François Des Rosiers and Marius Thériault).
7 Residuals Analysis for Constructing 'More Real'Property Value (Malgorzata Renigier).
8 The Hierarchical Trend Model (Marc K. Francke).
PART III EMERGING METHODS.
9 Developing Mass Appraisal Models with Fuzzy Systems (MarcoAurélio Stumpf González).
10 Utterly Unorthodox Modelling for the Purposes of MassAppraisal: An Approach Based on Patterns and Judgments (TomKauko).
11 Rough Set Theory as Property Valuation Methodology: The WholeStory (Maurizio d'Amato).
PART IV COMPARISON OF TOOLS USING A SET OF SPECIFICCRITERIA.
12 Technical Comparison of the Methods Including Formal Testingof Accuracy and Other Modelling Performance Using Own Data Sets andMultiple Regression Analysis (Richard A. Borst, François DesRosiers, Malgorzata Renigier, Marco Aurélio StumpfGonzález, Tom Kauko and Maurizio d'Amato).
13 Property Market Classification and Mass Appraisal Methodology(Maurizio d'Amato and Tom Kauko).
PART V CONCLUSION.
14 Automated Valuation Methods, Empirical Modelling of Value,and Systems for Market Analysis (Tom Kauko).
Glossary.
Index.

Über Autor(innen)

Tom Kauko, Norwegian University of Science and Technology,and Delft University of Technology, The Netherlands.
Maurizio d'Amato, Technical Univerisity Politecnico diBari, Italy.