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Residential Property Values And Historic Districts: A Kalamazoo Case Study, Curtis John Aardema 2015 Western Michigan University

Residential Property Values And Historic Districts: A Kalamazoo Case Study, Curtis John Aardema

Research and Creative Activities Poster Day

Often cited by proponents as a productive tool for preserving the cultural and physical elements of the American built environment, historic districts are alternatively branded as burdensome and regressive to future development by critics. In order to provide a quantitative assessment of the economic impact of historic districts, this project compares property values from 1990, 2000 and 2010 in both a historically designated and a non- designated neighborhood in Kalamazoo, Michigan. Through tedious sampling techniques and statistical analysis, the results of the project indicated a link between historic districts and higher property values.


Canadian Mortgage Law And Prepayment Penalties, Peter Spiro 2015 University of Toronto

Canadian Mortgage Law And Prepayment Penalties, Peter Spiro

Western Journal of Legal Studies

This article illustrates the imbalance of power between the mortgagor and mortgagee, which is particularly apparent for individual mortgagors. Prepayment and due on sale provisions are standard mortgage terms that contribute to this imbalance. Although these clauses purport to operate separately, in reality, both are frequently triggered by the sale of a property; the law of contract suggests that these provisions should not be enforceable. Relevant legislation is lacking in this area and should be reformed to provide more effective consumer protection while acknowledging that banks operate with the goal of maximizing business. A reasonable compromise would involve basing the ...


Mountain Monitor - 4th Quarter 2014, Kenan Fikri, Mark Muro 2015 Brookings Institution

Mountain Monitor - 4th Quarter 2014, Kenan Fikri, Mark Muro

Mountain Monitor

With the national economy gaining steam, the 10 major metro areas of the Mountain West ended 2014 with another quarter of strong economic performance. On the four indicators of economic vitality measured by the Mountain Monitor—employment growth, output growth, changes in unemployment, and house price growth—with only a few exceptions, every metro area registered advances on every indicator. Such widespread progress heretofore eluded the region, where recovery from the Great Recession has been characterized by unevenness.

In aggregate, the 10 Mountain metro areas ended 2014 with their fastest quarter of job growth of the year. Employment increased by ...


Assessment Limits And Timing Of Real Estate Transactions, Sebastien J. Bradley 2015 Drexel University

Assessment Limits And Timing Of Real Estate Transactions, Sebastien J. Bradley

Sebastien J Bradley

Michigan homebuyers face large potential discontinuities in tax obligations for purchases made around January 1 and May 1 under the state's application of acquisition-value based assessment limits and principal residence (homestead) exemptions, respectively. Consistent with incentives, roughly 3.7 percent of sales concluded in the first 10 business days of January are thus attributable to timing responses among the subset of properties listed by the largest 25 percent of firms by sales volume. Underlying this effect is a willingness to stretch the number of days between contract and closing dates by an average of 2 to 4 business days ...


A Burning Question: Does Arson Increase When Local House Prices Decline?, Michael D. Eriksen, James M. Carson 2015 Texas Tech University

A Burning Question: Does Arson Increase When Local House Prices Decline?, Michael D. Eriksen, James M. Carson

Michael D Eriksen

We construct panel data on house prices and the determined cause of 4.8 million individual fires in the United States between 1986 and 2010 to test whether decreases in local housing market prices coincided with increases in arson. Since some insured homeowners may attempt to disguise the actual cause of fire as accidental, we also examine how decreases in local house prices are associated with changes in the total number of fires and the probability of determined causes of accidental fires. For the sample period, our results suggest that declines in local house prices coincided with increases in arson ...


Do Gasoline Prices Affect Residential Property Values?, Adele C. Morris, Helen R. Neill 2014 Brookings Mountain West

Do Gasoline Prices Affect Residential Property Values?, Adele C. Morris, Helen R. Neill

Brookings Mountain West Publications

This paper estimates the effect of gasoline prices on home values and explores the degree to which the relationship varies across a city. Using data from 930,702 home sales in Clark County, Nevada, from 1976 through 2010, we find that gasoline prices have significantly different effects on the sales price of homes in different neighborhoods. A ten percent increase in gasoline prices is associated with changes in location-specific average home values that span a range of over $13,000. This suggests that energy policies may affect household housing wealth via gasoline prices, a heretofore unrecognized distributional outcome.


Mountain Monitor - 3rd Quarter 2014, Kenan Fikri, Mark Muro 2014 Brookings Institution

Mountain Monitor - 3rd Quarter 2014, Kenan Fikri, Mark Muro

Mountain Monitor

As a group, the 10 major metro areas of the Mountain West outperformed the national economy during the third quarter of 2014 on all four indicators of economic vitality measured by the Mountain Monitor: employment growth, output growth, unemployment, and house prices. In the three months ending in September, the country’s large metropolitan areas were anticipating the rapid uptick in national economic growth that took hold at the end of 2014. Mountain region metro areas led the way.

All but two major metro areas in the region added jobs, and six did so at a faster rate than the ...


Center For Real Estate Quarterly, Volume 8, Number 4, Portland State University. Center for Real Estate 2014 Portland State University

Center For Real Estate Quarterly, Volume 8, Number 4, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
--Density at Any Cost by Gerard Mildner (p. 3-23)
--The State of the Economy by Carly Harrison (p. 24-32)
--Residential Market Analysis by Scott Holden (p. 33-52)
--Multifamily Market Analysis by Scott Holden (p. 53-58)
--Office Market Analysis by Synkai Harrison (p. 59-66)
--Industrial Market Analysis by Synkai Harrison (p. 67-72)
--Retail Market Analysis by Synkai Harrison (p. 73-77)


Mountain Monitor - 2nd Quarter 2014, Kenan Fikri, Mark Muro 2014 Brookings Institution

Mountain Monitor - 2nd Quarter 2014, Kenan Fikri, Mark Muro

Mountain Monitor

Economic growth returned to the 10 major metro areas of the Mountain West in the second quarter of 2014 after slippage in the first quarter of the year. The resumption of vitality progressed unevenly, however. Denver and Salt Lake City pulled ahead as the fastest-growing metro areas in the region. Ogden and Provo’s days of above-average growth appeared to be fading. Las Vegas’ economic recovery advanced strongly, but Sun Belt peers Phoenix and Tucson had more difficulty moving beyond the first quarter’s slowdown. Albuquerque, for its part, welcomed a return to employment and output growth.

Across the region ...


Determining The Price Of Real Estate In The Nacogdoches Area, Katelyn Windham, Kayla Burns, Priscilla Soto, Grant Bailey 2014 Stephen F Austin State University

Determining The Price Of Real Estate In The Nacogdoches Area, Katelyn Windham, Kayla Burns, Priscilla Soto, Grant Bailey

Undergraduate Research Conference

No abstract provided.


Urban Economics Of The Ideal City, William Taylor Brantley 2014 University of Tennessee - Knoxville

Urban Economics Of The Ideal City, William Taylor Brantley

Masters Theses

Infrastructure influences both depictions of the ideal city and economic models predicting urban growth. As the common variable, infrastructure investments could promote ideal city values within free market economies.

To preserve the countryside and natural lands infrastructure investments must encourage concentrated growth in cities. The city and countryside are codependent. An abstraction between the two zones will lead to the demise of both the city and the countryside. New urban infrastructure should relate to public spaces creating economic, cultural, and social value in dense development. This value is achieved by generating a multiplicity of connections, program, and places within the ...


Center For Real Estate Quarterly, Volume 8, Number 3, Portland State University. Center for Real Estate 2014 Portland State University

Center For Real Estate Quarterly, Volume 8, Number 3, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
--The State of the Economy by Carly Harrison (p. 4-16)
--Residential Market Analysis by Scott Holden (p. 17-36)
--Multifamily Market Analysis by Scott Holden (p. 37-42)
--Office Market Analysis by Synkai Harrison (p. 43-49)
--Industrial Market Analysis by Synkai Harrison (p. 50-55)
--Retail Market Analysis by Synkai Harrison (p. 56-61)


Front Cover, Cornell Real Estate Review Editorial Board 2014 Cornell University

Front Cover, Cornell Real Estate Review Editorial Board

Cornell Real Estate Review

No abstract provided.


Table Of Contents, Cornell Real Estate Review Editorial Board 2014 Cornell University

Table Of Contents, Cornell Real Estate Review Editorial Board

Cornell Real Estate Review

No abstract provided.


Foreword, David L. Funk 2014 Cornell University

Foreword, David L. Funk

Cornell Real Estate Review

[Excerpt] Welcome to the 2014 edition of the Cornell Real Estate Review (CRER), a publication that features practical, applied research interspersed with commercial real estate cases and industry awards relied upon by our readers.


Letter From The Editors, Ryan Bandy, Evan Doran 2014 Cornell University

Letter From The Editors, Ryan Bandy, Evan Doran

Cornell Real Estate Review

[Excerpt] We are honored to present the 12th Volume of the Cornell Real Estate Review (CRER), a student edited and managed publication with oversight from faculty in the Baker Program in Real Estate at Cornell University. A continuation of the tradition of thought leadership in real estate, the CRER strives to promote practical learning and to introduce readers to new concepts and practices. As editors, it is our duty to marry scholarly discourse with professional applicability and to create a publication that reflects the values of the Baker Program.


Between We Buy Houses And We Buy Wholesale, Cori R. Harvey 2014 University of Wisconsin

Between We Buy Houses And We Buy Wholesale, Cori R. Harvey

Cornell Real Estate Review

The distressed residential real estate market has always depended upon the innovations of private, micro investors to reorganize the housing market and redistribute distressed properties for the benefit of homeowners, home buyers, and lenders alike. This Article asks whether recent trends in residential distressed real estate investing have created a new niche for operationally-sophisticated, yet small and nimble, private investors.


The Value Of Flexibility: A Finance Application Of Options To Real Estate, Hamid Pezeshkian, Sina Lashgari, Duane Stiller 2014 Toll Brothers

The Value Of Flexibility: A Finance Application Of Options To Real Estate, Hamid Pezeshkian, Sina Lashgari, Duane Stiller

Cornell Real Estate Review

Real estate is among the most strategic of businesses. Each property class has both independent and linked economic, demographic, and political constituents. Moreover, there are dozens of parties involved that influence the real estate project’s final outcome. At every stage of a given project, the participants learn new information that affects their plan. Developers learn about the market, local government actions, and tenant decisions, while tenants learn about consumers and competitors. The nature of the business requires and rewards flexibility.

This paper focuses on flexibility and its value in real estate dealings. Specifically, it applies the concept of optionality ...


2014 Industry Leader Award: Jorge M. Pérez, Jorge M. Pérez 2014 The Related Group

2014 Industry Leader Award: Jorge M. Pérez, Jorge M. Pérez

Cornell Real Estate Review

[Excerpt] Jorge M. Pérez is the Founder, Chairman and CEO of The Related Group, the largest multi-family real estate development firm in the United States. Under Pérez’s direction, The Related Group has redefined the South Florida landscape. Since its inception in 1979, the firm has steadily built and managed more than 60,000 apartments and condominium residences, becoming Florida’s top multi-family developer and the largest Hispanic-owned business in the United States.


New York City’S Annual Income And Expenses: Statement Filing Requirement – A Land Mine For The Unwary Purchaser Or Owner Of Real Property, Ryan A. McCaffrey, Albert D. Lichy 2014 Sullivan & Cromwell LLP

New York City’S Annual Income And Expenses: Statement Filing Requirement – A Land Mine For The Unwary Purchaser Or Owner Of Real Property, Ryan A. Mccaffrey, Albert D. Lichy

Cornell Real Estate Review

Since 1986, New York City law has required owners of incomeproducing properties in New York City to file an annual income and expense statement, colloquially referred to as an RPIE statement, with the Department of Finance. The general purpose of an RPIE statement is to assist the Department of Finance in assessing the value of income-producing properties.1 To this end, the owners of income-producing properties are required to submit annually a statement that outlines “all income derived from and all expenses attributable to the operation of such property.”2 Despite the draconian penalties for non-compliance - ranging from 3% to ...


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