The improved net rate analysis

Shi, S

The improved net rate analysis

Shi, S

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Publication Type:: Journal Article
Citation:: Journal of Real Estate Research, 2015, 37 (1), pp. 117 - 150
Issue Date:: 2015-01-01

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Field	Value	Language
dc.contributor.author	Shi, S https://orcid.org/0000-0003-4188-5151	en_US
dc.date.issued	2015-01-01	en_US
dc.identifier.citation	Journal of Real Estate Research, 2015, 37 (1), pp. 117 - 150	en_US
dc.identifier.issn	0896-5803	en_US
dc.identifier.uri	http://hdl.handle.net/10453/119321
dc.description.abstract	© 2015, American Real Estate Society. All right reserved. In this paper, I propose an improved net rate methodology to use the assessed land values to proxy the land contribution in real estate appraisals. The assumption in the method is that neighborhood effects are capitalized into uniform land assessments. Compared to the traditional sales comparison approach, the method has potential to extend the selection of comparable properties. Simulations based on the theoretical and empirical data suggest the method benefits greatly from compensating for assessment errors. Since more sales can be incorporated into the proposed method, it is contended the appraisal result will be more objective and accurate. In practice, the method provides an attractive solution for property valuations in areas where there are limited sales.	en_US
dc.relation.ispartof	Journal of Real Estate Research	en_US
dc.subject.classification	Finance	en_US
dc.title	The improved net rate analysis	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	37	en_US
utslib.for	1599 Other Commerce, Management, Tourism and Services	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
utslib.for	1504 Commercial Services	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	closed_access
pubs.issue	1	en_US
pubs.publication-status	Published	en_US
pubs.volume	37	en_US

Abstract:

© 2015, American Real Estate Society. All right reserved. In this paper, I propose an improved net rate methodology to use the assessed land values to proxy the land contribution in real estate appraisals. The assumption in the method is that neighborhood effects are capitalized into uniform land assessments. Compared to the traditional sales comparison approach, the method has potential to extend the selection of comparable properties. Simulations based on the theoretical and empirical data suggest the method benefits greatly from compensating for assessment errors. Since more sales can be incorporated into the proposed method, it is contended the appraisal result will be more objective and accurate. In practice, the method provides an attractive solution for property valuations in areas where there are limited sales.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/119321