Real Estate Principles : A Value Approach

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