Real Estate Principles : A Value Approach

by Ling, David; Archer, Wayne

• ISBN13: 9780073377322
• ISBN10: 0073377325
• Edition: 3rd
• Format: Hardcover
• Copyright: 2009-09-24
• Publisher: McGraw-Hill/Irwin

Summary

Real Estate Principles: A Value Approach demonstrates how value is central to virtually all real estate decision-making. Students using Ling and Archer should finish the course with a value-oriented framework, and a set of valuation and decision making tools that can be applied in a variety of real-world situations. The key to making sound investment decision is to understand how property values are created, maintained, increased or destroyed.Since the launch of Real Estate Principals: A Value Approach, 2e significant and lasting changes have come upon the world of real estate. This is very true in real estate finance and capital sources where most of the traditional lenders have been transformed or displace, giving way to a radically different set of player in mortgage finance. There has been change as well with profound and far-reaching implications in a world where it is understandable that property values can go down as well as up. This realization will color every aspect of real estate investment, finance and transactions for the foreseeable future.

Table of Contents

Setting the Stage

The Nature of Real Estate and Real Estate Markets

Value and Real Estate Decisions

Legal and Regulatory Determinants of Value

Legal Foundations to Value

Conveying Real Property Interests

Government Controls and Real Estate Markets

Market Analysis and Appraisal

Market Determinants of Value

Forecasting Ownership Benefits and Value: Market Research

Valuation Using the Sales Comparison and Cost Approaches

Valuation Using the Income Approach

Financing Home Ownership

Real Estate Finance: The Laws and Contracts

Residential Mortgage Types and Borrower Decisions

Sources of Funds for Residential Mortgages

Brokering and Closing the Transaction

Real Estate Brokerage and Listing Contracts

Contracts for Sale and Closing

Time, Opportunity Cost and Value Decisions

The Effects of Time and Risk on Value

Mortgage Calculations and Decisions

Financing and Investing in Commercial Real Estate

Commercial Mortgage Types and Decisions

Sources of Commercial Debt and Equity Capital

Investment Decisions: Ratios

Investment Decisions: NPV and IRR

Income Taxation and Value

Creating and Maintaining Value

Enhancing Value through Ongoing Management

Leases and Property Types

Development: The Dynamics of Creating Value

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