Real Estate Commons^™

A Survey Of Accredited Rural Appraisers, Lindy Wilson

Agribusiness

This study was undertaken to determine which skills are most important for students to learn in Cal Poly AGB Finance and Appraisal concentration courses. This report used a mail survey to determine which skills current California Chapter members of the American Society of Farm Managers and Rural Appraisers thought most important for rural appraisal students to posses. It is concluded that communication and personal skills are more important for rural appraisal student success. This conclusion is based on analysis of survey responses. On average communication skills were ranked as the most important skills for rural appraisal students to posses followed …

Housekeeping For Regulators Of Volatile Housing Markets, Knowledge@Smu

Knowledge@SMU

World housing markets have gone through a volatile period of boom and bust, triggering the financial crisis and subsequent economic downturn. While it might be tempting for governments to contemplate on housing bubbles by means of monetary policy or direct controls over housing prices, such moves are far more complicated than it seems. Housing prices are influenced by various factors and governments have a limited handle on them at best. Raising interest affects other sectors of the economy - not just housing. So what can governments do? What should be the ultimate goal of housing policy?

Affordable Homeownership Policy: Implications For Housing Markets, Sock Yong Phang

Research Collection School Of Economics

Affordable homeownership is a policy that is often accorded a great deal of policy attention by governments of many countries. In this paper, we examine the market implications of setting a housing price to income ratio target for a market segment by the government. The policy requires active intervention by the government with regard to the targeted sector. We use a simple model of the housing market with a homeownership affordability target to derive the market implications of such targets. In the presence of uncertainty and resource constraints, the objective of homeownership affordability is achieved for the targeted group at …

Center For Real Estate Quarterly, Volume 3, Number 4, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
--Editor's Urban Development Journal "Greening the Ratings: Weed LEED & SEED" by Will Macht (pages 3-12)
--"Deleveraging Commercial Real Estate: Equity Investment Market Dynamics" by Mike Kingsella & Chris Longinetti (pg 13-26)
--"Salem Multifamily Report" by Jamie Martinson (pg 27-31)
--"Salem Retail Report" by Jennifer Martin (pg 32-33)
--"Big Box Reuse" by April Chastain (pg 34-38)
--"Retail Market Analysis" by April Chastain (pg 39-42)
--"Office Market Analysis" by April Chastain (pg 43-51)
--"Hotel Market Analysis" by April Chastain (pg 52-53)
--"Industrial Market Analysis" by April Chastain (pg 54-57)
--"Apartment Market Analysis" by Scott Aster (pg 58-62)
--"Housing …

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

Center for Real Estate Quarterly

Table of Contents:
--"Downtown Portland Retail: A New Renaissance?" by David Leland & Katherine Krajnak (pages 21-33)
--"Tax Increment Financing: Comparing Approaches in Northwest States," by Read Stapleton (pages 34-49)
--"Housing Market Analysis," by Scott Aster (pages 50-62)
--"Apartment Market Analysis," by Scott Aster (pages 63-66)
--"Office Market Analysis," by April Chastain (pages 67-74)
--"Industrial Market Analysis," by April Chastain (pages 75-77)
--"Downtown Retail Parking Market Analysis," by April Chastain (pages 78-81)

Lincoln High School, April Chastain, Tyler Clark, Gonzo Grasis, Eric Hayes, Robert Pile, Jonathan Winslow

Real Estate Development Workshop Projects

Students from Portland State University's Center for Real Estate produce a development plan for Lincoln High School.

Their task was to produce an original development plan, including the development concept, market analysis, conceptual design, economic analysis, capital and operations budget, and management plan.

Why Should Investors Stay Positive On The Asian Real Estate Markets?, Knowledge@Smu

Knowledge@SMU

Asia’s real estate market has weakened in tandem with lower equity prices. Singapore is no exception. Gone (for now) is the frenzied buying that marked 2007 and 2008, as everyone hunkers down for a possible protracted slump in the global economy. Many property buyers are caught with assets declining in value. Should investors thus stay away from Asia’s property market? What are the challenges facing the industry players, and is there a recovery on the horizon?

Center For Real Estate Quarterly, Volume 3, Number 2, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
--"Coliseum Choices: An Asset Too Valuable to Demolish," by Professor Will Macht (pages 3-22)
--"The Credit Crisis in Commercial Real Estate," by Christopher Longinetti (pages 23-34)
--"Bursting Bubbles: Portland's Distressed Housing Market," by Tom Heineke (pages 35-48)
--"Housing Market Analysis," by Elizabeth Warren (pages 49-62)
--"Office Market Analysis," by April Chastain (pages 63-69)
--"Industrial Market Analysis," by April Chastain (pages 70-72)
--"Multifamily Market Analysis," by April Chastain (pages 73-77)

Center For Real Estate Quarterly, Volume 3, Number 1, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
--"An Adams Agenda? New Directions for Urban Development," by Professor Will Macht (pages 3-14)
--"Green Leasing: Implementing Sustainability Concepts in Commercial Leases," by Dominic Coletta (pages 15-23)
--"Workforce Housing: New Tools for Solving the Affordable Housing Dilemma," by Eugene Grant (pages 24-34)
--"Office Market Analysis," by April Chastain (pages 35-40)
--"Industrial Market Analysis," by April Chastain (pages 41-43)
--"Apartment Market Analysis," by April Chastain (pages 44-47)
--"Housing Market Analysis," by Elizabeth Warren (pages 48-60)

Origins And Resolution Of Financial Crises: Lessons From The Current And Northern European Crises, Finn Østrup, Lars Oxelheim, Clas Wihlborg

Business Faculty Articles and Research

Since July 2007, the world economy has experienced a severe financial crisis that originated in the U.S. housing market. Subsequently, the crisis has spread to financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises rarely distinguishes between factors that create the original strain on the financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue that a financial crisis with …

The Blocks At Northgate, Caroline Uittenbroek, Stephen Smith, Carly Ritter, Kate Chavez, John Patton, David Blindheim, Eugene Nucci Jr.

Real Estate Development Workshop Projects

Students from Portland State University's Center for Real Estate produce a development plan for a property site in Seattle's Northgate District.

Their task was to produce an original development plan, including the development concept, market analysis, conceptual design, economic analysis, capital and operations budget, and management plan.

From Corporate Social Responsibility To Corporate Responsible Behaviour: A Futures Approach: Proposing A New Conceptual And Operational Framework To Foster Responsibility Within The Commercial Property Industry, Gillian O'Brien

Doctoral

This research examines corporate responsible behaviour (CRB) and the role of Futures Studies, as both a philosophy and a critical research methodology in fostering a culture of responsibility within the commercial property industry in the UK. More specific objectives are to critically evaluate CRB and its role in business; to explore the potential role, effects and implications of futures in the development of CRB policy and practice; to propose an integrative conceptual and operational framework for guiding the commercial property industry in formulating systematic, executable CRB policies and practices; and to build a set of propositions that may influence the …

Price Discovery Of Credit Risk, Yibing Du

Finance and Real Estate Dissertations - Archive

This study investigates financial markets' price discovery for credit risk across the stock, bond, and credit derivatives markets. This study also examined what factors affect financial market's price discovery for credit risk. Four factors are studied: liquidity, transaction cost, credit ratings and maturities. Using weekly equity, bond and credit default swap market data from January 2000 to October 2007, it is found that stock market and bond market, credit derivative market and bond market are cointegrated for long term credit risk price discovery. In short term, both stock market and credit derivatives market lead the bond market for credit risk …

Going Green - Impact On Residential Property Values, Ramya Rajajagadeesan Aroul

Finance and Real Estate Theses - Archive

Hedonic pricing model is generally used to empirically understand the relationship between various housing characteristics and the housing values. In the past hedonic studies have looked at the relationship between the housing prices and structural features, environmental amenities, neighborhood characteristics, time variables and even financing. But real estate researchers have greatly overlooked to study the impact of greenness on residential properties though there has been a huge interest among the researchers and practitioners on green buildings. This study poses the primary question of if any potential relationship exists between greenness and property values. This study further extends the research question …

Lessons For Nama From Valuation Practices, Thomas Power

Articles

By adopting accounting values and not economic value, auctioneers and valuers contribute to property market inefficiency. The reaction to this global financial and real asset meltdown is for tighter regulation. But the difficulties now being experienced in global asset markets are not new– it’s just that it is much bigger. The common denominator is accounting based valuations.

Nama Versus Nationalization – How To Deal With The Banks’ Toxic Loans?, Thomas Power

Articles

Banks are indispensible to the efficient functioning of the economy. Right now they are unable to carry out their normal functions (e.g. providing lines of credit to individuals and business) because they are underfunded. They are rationing credit because they do not have enough funds. The funds they need to lend to borrowers come from deposits, equity and bonds. During the ‘boom period’ banks did not have enough funds from deposits and had to rely on the inter-bank market to borrow the funds they needed in order to lend. According to the Central Bank ‘net foreign liabilities’ of commercial banks …

Changing Perceptions Of Homesteading As A Policy Of Public Domain Disposal, Richard Edwards

Great Plains Quarterly (through 2013)

The inspiring story of homesteaders claiming free land and realizing their dreams became one of the enduring narratives of American history. But scholars who have studied homesteading have often been much more ambivalent, even harshly negative, about how successful it was in practice. While the public often views our history differently from scholars, in this case the disparity appears both substantial and persistent. Perhaps it is time to revisit homesteading and reassess whether homesteading really was a good idea or not.

Certainly homesteading once powerfully fired the American imagination. The promise of free land was such a startling idea that …

Lessons For Nama From Valuation Practices, Thomas Power

Other Resources

By adopting accounting values and not economic value, auctioneers and valuers contribute to property market inefficiency. The reaction to this global financial and real asset meltdown is for tighter regulation. But the difficulties now being experienced in global asset markets are not new– it’s just that it is much bigger. The common denominator is accounting based valuations.

A Multi-Factor Analysis Of Areit Returns, Jaime L.P. Yong

Research outputs pre 2011

Since 1990, the Australian Real Estate Investment Trust (AREIT) sector has experienced substantial growth and popularity. While the AREIT sector had benefit from the increased flow of funds from institutional investors during the 1997 Asian financial crisis, the recent impact of the 2008 global financial crisis has been a negative one. In this paper, we examine the sensitivities of annualised AREIT returns against a set of seven firm-specific variables and four market-wide risk variables. Balanced and unbalanced panel regressions are conducted on three sub-periods during 1990 – 2008 corresponding to the major phases in evolution of the AREIT sector. Our …

Las Vegas: The Perils Of Deception Fueled Growth, William J. Smith, Ahmad Safi

Public Policy and Leadership Faculty Research

There are two types of deception – the deception of others and self-deception. Las Vegas thrives on both. Many would be aware of the importance of the first type of deception for the health of the Las Vegas economy, as they would for Macau, Monte Carlo, etc. Without the symbol of wealth to achieve elite global tourism status, and the ‘moth to the flame’ illusion of the likelihood of visitors to get ‘lucky’ and win great wealth, there would be no Las Vegas as it is known today. There is no other major reason to come to the city. There …

The Effects Of Gaming On Residential Real Estate Prices And Sales: A Case Study Of Las Vegas: 1990--2008, Christopher Alan Miller

UNLV Theses, Dissertations, Professional Papers, and Capstones

This dissertation empirically investigates the effects of the gaming industry on a local economy, specifically housing prices and sales in the city and surrounding areas of Las Vegas. This study explores many of the economic effects that Las Vegas' relatively unrestricted gaming industry has on surrounding home prices and sales and analyzes the specific forces and the issues they involve. As of this writing, little to no research has used seminal economic theories to analyze the effects of the performance of a locale's gaming industry on the surrounding residential real estate market. This study addresses this gap by examining the …

Perspectives On Timeshare Ownership: An Exploratory Study Of Markets In China, Kai-Li Chi

UNLV Theses, Dissertations, Professional Papers, and Capstones

This study aims to explore the attitudes of prospective customers in China about timeshares, and to identify potential marketing opportunities for timeshare companies targeting China. This exploratory study is the first of its kind and it intends to provide valuable information about the consumer potential for the timeshare industry in China. The findings indicate that consumer acceptance of timeshares in China is high. Six socio-demographic variables were identified as keys in predicting those with statistically significant likelihood of purchasing a timeshare within the next three years: age, occupation, marital status, annual household income, vacation frequency, and attendance at a previous …

Effect Of Suburban Transit Oriented Developments On Residential Property Values, Shishir Mathur, Christopher Ferrell

Faculty Publications, Urban and Regional Planning

No abstract provided.