Condensed Chapter 13 Slides

Condensed Chapter 13 Slides - “Real Estate Principles for...

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Unformatted text preview: “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 13 The Market Approach to Value “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Major Topics ♦ Limitations and advantages of the market approach to value ♦ Defining a submarket of comparable property ♦ Selecting comparable property or comps ♦ Adjusting Comps towards the subject property ♦ Confidence Ranges and Appraised Values ♦ Multiple Regression Applicability in Appraisal “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Introduction ♦ The Market Approach is in many respects, the most fundamental and important of the three traditional approaches to valuation ♦ Definition: An approach to estimating market value of a subject property by means of examining the transaction prices of recent sales of properties similar to the subject property in the same or similar real estate asset market “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Introduction (Contd.) ♦ Steps in the Market Approach process:- Define the submarket of comparable properties- Screen and select the comparable properties- Adjust the comps towards the subject property- Develop a conclusion of value “Real Estate Principles for the New...
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This note was uploaded on 02/07/2012 for the course FIN 4380 taught by Professor Staff during the Spring '08 term at Texas State.

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Condensed Chapter 13 Slides - “Real Estate Principles for...

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