Mass Appraisal Methods: An... | Buy

Summary

This book takes a cross-disciplinary and cross-cultural look at mass appraisal expertise for property valuation in different market conditions, and offers some cutting- edge approaches.The editors establish an international platform and present the scientific debate as well as practical feasibility considerations. Heretic and orthodox valuation methods are assessed based on specific criteria, partly technical and partly institutional. Methodological evaluation is approached using two types of criteria: operational concerns about how to determine property value differentials between spatial and functional units of real estate in a valid and reliable way (technical criteria); and the kind of market circumstances being operated in (institutional criteria). While technical criteria are relatively well-researched, there is little theoretically informed work on the connection between country context and selection of property appraisal methods.The book starts with an examination of current mass property appraisal practices, presenting case studies from widely differing markets - from the American and Dutch, where regression-based methods have been used successfully for some time; to the Eastern European and other emerging economies, where limitations have to be compensated by focusing on the modelling assumptions.The second part of the book looks at sophisticated modelling approaches, some of which represent combinations of elements from two or more techniques. Whatever the exact modelling approach, the requirements are always high for the quality of the data and suitability of the method. In the final section, methods are evaluated and compared according to technical criteria and against institutional contexts.With its exceptionally wide coverage of valuation issues, Mass Appraisal Methods: an international perspective for property valuers addresses property valuation problems common to different countries and approaches applicable in both developed and emerging economies.

Contributors
Foreword
Preface
Abbreviations
Introduction: Suitability Issues in Mass Appraisal Methodology
Mass Appraisal Practice And Recommendations.
Data Issues Involved with the Application of Automated Valuation Methods: A Case Study
The Modified Comparable Sales Method as the Basis for a Property Tax Valuations System and its Relationship and Comparison to Spatially Autoregressive Valuation Models
Automated Valuation in the Dutch Housing Market: The Web-Application 'MarktPositie' Used by NVM-Realtors
Using Fuzzy Numbers in Mass Appraisal: The Case of the Belarusian Property Market
Current Advanced Methods.
Mass Appraisal, Hedonic Price Modelling and Urban Externalities: Understanding Property Value Shaping Processes
Residuals Analysis for Constructing 'More Real' Property Value
The Hierarchical Trend Model
Emerging Methods.
Developing Mass Appraisal Models with Fuzzy Systems
Utterly Unorthodox Modelling for the Purposes of Mass Appraisal: An Approach Based on Patterns and Judgments
Rough Set Theory as Property Valuation Methodology: The Whole Story
Comparison Of Tools Using A Set Of Specific Criteria.
Technical Comparison of the Methods Including Formal Testing of Accuracy and Other Modelling Performance Using Own Data Sets and Multiple Regression Analysis
Property Market Classification and Mass Appraisal Methodology
Conclusion.
Automated Valuation Methods, Empirical Modelling of Value, and Systems for Market Analysis
Glossary
Index
Table of Contents provided by Publisher. All Rights Reserved.

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