Real Estate Commons^™

Community Acceptance Of Affordable Housing, C. Theodore Koebel, Robert E. Lang, Karen A. Danielsen

Public Policy and Leadership Faculty Research

Despite historically low interest rates, organizations across the nation have become increasingly concerned about the impacts of regulatory constraints and anti-growth sentiments on the availability and cost of housing. This concern is by no means limited to a few “high cost” areas like Boston and San Francisco. It can also be found in Iowa City, where new single-family houses were recently selling from $150,000 to $375,000 (prices readily considered affordable in many larger metropolitan areas) and even in rural areas where spill-over growth and “drive to qualify” solve the commuter’s affordability problem while creating unforeseen affordability problems for the rural …

Obesity, Educational Attainment, And State Economic Welfare, Martin W. Sivula Ph.D.

MBA Faculty Conference Papers & Journal Articles

For the first time in history, estimates of the overweight people in the world rival estimates of those malnourished. The World Health Organization (WHO, 2002) ranked obesity among the top 10 risks to human health worldwide. In the early 1960s, nearly half of the Americans were overweight and 13% were obese. Today some 64% of U.S. adults are overweight and 30.5% are obese. Even more alarming, twice as many U.S. children are overweight than were twenty years ago, a 66% increase. Non-communicable diseases impose a heavy economic burden on already strained health systems. Health is a key determinant of development …

Borrowing Trouble? Iv: Subprime Mortgage Refinance Lending In Greater Boston, 2000-2002, Jim Campen

Gastón Institute Publications

The present report is the fourth in the annual series begun by that initial study; it extends the time period covered through 2002, and expands the number of individual cities and towns for which data on subprime refinance lending are provided to 108.

Although motivated by a concern with predatory lending, this study and its predecessors – like all of the other quantitative studies of which I am aware – analyzes and reports on lending by subprime lenders. It is therefore important to emphasize that although all predatory loans are subprime, only a fraction of subprime loans are predatory. While …

Bringing The Environment In From The Cold, Thomas Power

Articles

The aim of this essay is to present an overview of some of the basic concepts underlying the mainstream approach to the role of economics in the analysis of the causes and treatment of environmental degradation. It evaluates the mainstream view depicted by Helm and Pearce and analyses economic externalities in context, conventional economic approaches and imperfect information.

Short Interests In Real Estate Investment Trusts, Deqing Diane Li, Kenneth Yung

Finance Faculty Publications

We examine short interests in equity real estate investment trusts (REITs) between 1994 and 2001. Our results show that only high levels (the 90th percentile) of short interest are associated with significant negative REIT returns as the bearish content of short interest may have been mitigated by the favorable risk characteristics of real estate securities. In addition, the significant negative relationship between short interest and REIT returns applies only to REITs with poor performance. The result implies that the bearish sentiment of short interest could aslo be mitigated by good REIT managers in a real estate market that is informationally …

The Impact Of Hardening In The Homeowner's Insurance Market On Ohio Residential Real Estate Brokerage Markets, Joseph Coleman, James E. Larsen

Finance and Financial Services Faculty Publication

A recently released study sponsored by the National Association of REALTORS® (NAR) documents hardening in the homeowner’s insurance market nationwide; i.e., property insurance premiums have increased sharply and coverage availability has often been limited. The NAR study did not, however, investigate the impact of this hardening on residential real estate transactions, nor did it include an examination of the transactional impact resulting from the increasing propensity of insurance companies to require property modifications as a condition of issuing a policy. In the present study, survey data collected from 406 members of the Ohio Association of REALTORS® (OAR) is used to …

Privatization Of Public Housing : Did It Cause The 1998 Recession In Hong Kong?, Lok Sang Ho, Wai Chung, Gary Wong

Centre for Public Policy Studies : CPPS Working Paper Series

This paper finds evidence that a public housing privatization program produced adverse effects on housing transactions and the economy in Hong Kong. A scheme announced in December 1997, offering tenants an opportunity to buy their units at deeply discounted prices, reduced public housing tenants’ bids for private homes and adversely affected home transactions. This effect is more pronounced than the effects of the Asian Financial Crisis. An effect on housing prices is also indirectly demonstrated though a demonstration that a structural break in the housing price relationship occurred at the time the privatization program is introduced. Declines in housing prices …

Effects Of Residential Xeriscape Conversions On Property Values: A Baseline Case Study, Andréa E. Baker

UNLV Theses, Dissertations, Professional Papers, and Capstones

The conversion of grass lawns to xeriscape has become more prevalent in the desert Southwest, including here in the Las Vegas Valley. The purpose of this thesis was to determine whether the conversion of residential landscapes from grass lawn to xeriscape influences the property value of a home. This case study involved the comparison of property values for residential homes that had participated in the Southern Nevada Water Authority’s Water Smart Landscapes rebate program and non-participant homes with similar amenities before and after the landscape conversion. The results of the analysis show that xeriscape dose have a potentially positive impact …

Changing Patterns X: Mortgage Lending To Traditionally Underserved Borrowers And Neighborhoods In Greater Boston, 1990-2002, Jim Campen

Gastón Institute Publications

The present study is the latest in a series of annual updates of the original report, Changing Patterns: Mortgage Lending in Boston, 1990-1993. Beginning in 1998, the reports’ geographic scope was expanded to include an examination of mortgage lending patterns in 27 cities and towns surrounding the city of Boston. In this year’s report, the geographic coverage has been further expanded t o include a total of 108 communities.

This introduction is followed by ten pages of text that identify some of the most significant findings that emerge from the extensive set of tables and charts that constitute the …

Evaluation Of The Hud Elder Cottage Housing Opportunity (Echo) Program, C Theodore Koebel, Julia Beamish, Karen A. Danielsen, Virginia Polytechnic Institute And State University

Public Policy and Leadership Faculty Research

ECHO housing was introduced in the United States in the 1980s based on a program started in Australia in 1975. An ECHO unit is a small house in which an elderly person resides and which is placed near the home of a host (either relatives or close friends of the elderly person). The purpose of this arrangement is to make it convenient and efficient for the occupants of the host family dwelling to provide assistance to the elderly person residing in the smaller ECHO house.

Although ECHO housing provides a means for keeping an elderly resident close to family and …

The State Of The Region: Hampton Roads 2003, James V. Koch, Aditi Agarwal, Vinod Agarwal, John R. Broderick, Gary Chiaverotti, Chris Colburn, Vicky Curtis, Steve Daniel, Susan Hughes, Enrique T. Inclan, Tatiana Isakovski, Sharon Lomax, John R. Lombard, Trish Manthey, Grace Wu, Gilbert Yochum

Economics Faculty Books

This is Old Dominion University's fourth annual "State of the Region" report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion, or it's president, Dr. Roseann Runte.

The report maintains the goal of stimulating thought and discussion that ultimately will make Hampton Roads an even better place to live. We are proud of our region's many successes, but realize that it is possible to improve our performance. In order to do so, we must have accurate information about "where we are" and a …

Model State Land Use Legislation For New England, New England Environmental Finance Center, Muskie School Of Public Service

Legislation

Sprawl is neither the ordained nor the inevitable outcome upon the New England landscape. A coordinated response to sprawl by the public and private sectors is possible, and could dramatically improve land use patterns and reduce the cost of local government. For the New England states, such a response would include, among other elements, legislation to eliminate existing gaps in the land use laws of each state – gaps that presently encourage or sanction sprawling development. It would also include incentives for municipalities to think beyond their borders and to act with greater efficiency and effect. It is the purpose …

A Monte Carlo Analysis Of Hedonic Models Using Traditional And Spatial Approaches, Helen R. Neill, David M. Hassenzahl, Djeto D. Assane

Public Policy and Leadership Faculty Research

Hedonic regression analysis of single family homes typically includes structural variables, locational variables and neighborhood quality characteristics. When nearby properties are related, Dubin (1988) reports that error terms are spatially autocorrelated. Estimation methods for these spatially autocorrelated error terms or hereafter, spatial approaches, include maximum likelihood estimation (MLE) and kriging techniques such as kriged maximum likelihood estimation (KMLE). Unfortunately these spatial methods require massive computer resources and are limited to significantly fewer observations than traditional ordinary least squares (OLS). This paper investigates the combination of spatial approaches and Monte Carlo analysis, a method that approximates large data sets. A question …

Redefining Realtor Relationships And Responsibilities: The Failure Of State Regulatory Responses, Ann Morales Olazábal

Business Law Articles and Papers

For much of the twentieth century, residential real estate transactions conformed to a "traditional" model--the seller engaged a broker, who listed the home in a multiple listing service, where it was noticed and purchased by a buyer, with a commission paid to the broker by the seller from the sale proceeds. While the listing/selling broker model endured for decades, it was laden with problems--it left the buyer unrepresented, created agency relationships that were counterintuitive to the parties, and often left both the consumer and realtor unsure of the precise nature of their legal relationship. Over the last fifteen years, state …

Retailing At The Periphery: An Analysis Of Dublin’S Tertiary City-Centre Shopping Streets (1972-2002), Edmund O'Callaghan, Don O'Riordan

Articles

This research examined changes in Dublin’s tertiary city centre shopping streets over a thirty year period to 2002. An observational study of the occupancy of the city’s tertiary streetscape was undertaken in the summer of 2002 and compared with historical data. Results indicate significant change over the period examined: an increased vacancy rate, a very low survival rate, a considerable incidence of non retail specific activities, a decline in traditional retail offerings and the emergence of new categories of retailer. The paper concludes by suggesting a proactive approach is required by present day retailers in the tertiary streets to ensure …

Large Retail Developments In Ireland: An Overview, Edmund O'Callaghan

Conference proceedings

This paper illustrates the Irish public policy response to the location and development of large stores, through new planning guidelines issued in 2001. These guidelines provide the basis for a framework to guide local authorities in preparing development plans, in line with the broad principles of ‘sustainable development’. The context against which the new planning guidelines were deemed necessary is outlined. The paper concludes that the new guidelines will not seriously hinder non-food formats, nor disadvantage potential new international or national entrants. While it will limit large food-store development, average food-store size will continue to increase and existing operators will …

Vacating The City: An Analysis Of New Homes Vs. Household Growth, Thomas Bier, Charles Post

All Maxine Goodman Levin School of Urban Affairs Publications

The high price of housing on the coasts, population growth in the large metropolitan areas of the south, southwest, and west, and the issue of affordability for low- and moderate-income households across the country fueled the view that housing production was insufficient and that the shortfall was contributing to rising prices and limited housing choice. Indeed, underlying all of the housing-related changes and issues of the 1990s were the factors of supply and demand. The nation grew by 13.5 million households while 13.2 million building permits were filed. Nationally, housing supply was just about in balance with population growth. But …

Nnp “Nowhere Near Perfect”, Thomas Power

Other Resources

The aim of this essay is to examine two views and conclusions on the now commonly recognised inadequacies of Net National Product as an indicator of aggregate national well-being. It outlines Dasgupta’s simplified model of the effect of environmental losses on NNP and reviews Douthwaite’s treatment of NNP.

Deconstructing The Construction Industry: The Effects Of Labor Law 240/241 On The Home Building Industry In New York State, David E. Hay

Seton Hall University Dissertations and Theses (ETDs)

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Housing Analysis For Cleveland Lakefront Development, Thomas Bier, Charles Post, Rick Seifritz

All Maxine Goodman Levin School of Urban Affairs Publications

The Center for Housing Research & Policy conducted this survey and analysis of housing on Cleveland’s lakefront for the Cleveland Lakefront Partners, which is composed of the city of Cleveland, Cleveland Tomorrow, the Greater Cleveland Growth Association, and the Cleveland Neighborhood Development Corporation. The report includes both the results of the survey of residents in the multi-county Cleveland region and a comparative study of waterfront populations in the cities of Milwaukee, Chicago, Portland, and Baltimore. The survey results showed that at least 6,000 and possibly up to 9,000 middle and upper-income households would be interested in living on the lakefront …

Research Into Evaporative Cooling Of Buildings In Maritime Climates, Ben Costelloe, Donal Finn

Reports

Concern with environmental emissions has focused attention on traditional forms of energy use in buildings, with a view to reducing and making more rational use of energy consumption. One area of concern is the traditional, refrigeration based, commercial air conditioning system, which has high levels of electrical power consumption in fans and refrigeration compressors. There is also concern among building owners and design teams, supported by the PROBE series of post occupancy studies, conducted by the CIBSE, that many buildings, with traditional forms of air conditioning, under perform in terms of occupant satisfaction, ease of operation and control, maintenance costs …

Developments In Evaporative Cooling Of Buildings In Maritime Climates, Ben Costelloe, Donal Finn

Reports

Concern with environmental emissions has focused attention on traditional forms of energy use in buildings, with a view to reducing and making more rational use of energy consumption. One area of concern is the traditional, refrigeration based, commercial air conditioning system, which has high levels of electrical power consumption in fans and refrigeration compressors. There is also concern among building owners and design teams, supported by the PROBE series of post occupancy studies, conducted by the CIBSE, that many buildings, with traditional forms of air conditioning, under perform in terms of occupant satisfaction, ease of operation and control, maintenance costs …

The Impact Of Housing Prices On Aggregate Consumption: Evidence From An East Asian City-State, Sock-Yong Phang

Research Collection School Of Economics

Using aggregate consumption data for Singapore, this paper rejects the life-cycle/permanent income and myopia hypotheses as explanations for aggregate consumption behavior. We confirm the presence of liquidity constraints from the asymmetric reaction of consumption to income increases vis-a-vis income declines. When we allow for asymmetric response, anticipated house price increases appear to have a dampening effect on aggregate consumption while declines in expected house price growth also had a negative effect on consumption, although the results are statistically insignificant. There is no evidence that the housing price increases have produced either wealth or collateral enhancement effects on consumption.

The Impact Of Air Quality On The Selection Of A Home, Carol Lane

UNLV Theses, Dissertations, Professional Papers, and Capstones

Hedonic price method studies have assumed that individuals consider air quality as a characteristic of their homes. The purpose of this study is to determine if air quality is a significant characteristic considered when an individual decides where to live. This study uses a survey to determine where air quality ranks amongst the different characteristics of a home. My results show that air quality is significant but ranks below structural and neighborhood characteristics.

Sampling Concepts, Paul Boyd, Ph.D.

MBA Faculty Conference Papers & Journal Articles

The usefulness of any research is dependent upon how well the group studied represents the group about which decisions are to be made or conclusions drawn. That is, it depends upon how well the sample reflects relevant characteristics of the population. When it is possible to study every member of that group there is no problem, for on these occasions we can easily calculate the exact attribute (parameter) of interest for our population.

For example, if we were interested in determining the average number of gallons of gasoline sold to customers at our service station yesterday, we …

Evaporative Cooling Availability In Water Based Sensible Cooling Systems, Ben Costelloe, Donal Finn

Conference Papers

Recent developments have prompted a review of evaporative cooling technology as an effective means of cooling modern deep plan buildings. Prominent among these developments is the success of high temperature sensible cooling systems, such as chilled ceilings, which require a supply of cooling water at 14 to 18°C. Crucial to the success of evaporative cooling technology, as a significant means of cooling in modern applications, is the ability to generate cooling water, in an indirect circuit, at a temperature which closely approaches the ambient adiabatic saturation temperature or wet bulb temperature. Recent research in this area has shown that it …

Housing Policy, Wealth Formation And The Singapore Economy, Sock-Yong Phang

Research Collection School Of Economics

This paper evaluates the contribution of housing policy in Singapore to financial sector development, housing wealth formation and macro-economic performance, both retrospectively and prospectively. It provides an overview of past housing policies and traces the linkages to the financial sector. Housing policy as effected through the Housing and Development Board and the Central Provident Fund (CPF) hampered the development of the commercial housing loans sector and domestic financial markets, but contributed to the overall growth and stability of the housing loans market and associated financial institutions. Housing policy and the trend of housing asset inflation contributed significantly to the formation …

The Social Embeddedness Of Transactions: Evidence From The Residential Real Estate Industry, Steve Sawyer, Kevin Crowston, Rolf T. Wigand, Marcel Allbritton

School of Information Studies - Faculty Scholarship

Information and communications technologies (ICT) are becoming pervasive in the residential real estate industry and affecting the work lives of real estate agents. Drawing on data from a regional study of the residential real-estate industry in the United States, we focus on the disintermediation or, more accurately, the re-intermediation of real estate agents in the sales process. We examine how real estate agents are (1) taking advantage of new ICT in their work, and (2) protecting themselves from others wishing to displace their position in the real estate value chain. Our analysis draws on two contrasting theoretical approaches to better …

Information And Communication Technologies In The Real Estate Industry: Results Of A Pilot Survey, Rolf T. Wigand, Kevin Crowston, Steve Sawyer, Marcel Allbritton

School of Information Studies - Faculty Scholarship

We have been studying the growing use of information and communication technologies (ICT) in the residential real estate industry and the effects of this use on how realtors work. Earlier stages of our project involved qualitative research to develop a better understanding of the industry, the work of realtors and their use of ICT. In this paper we report on the results of qualitative research and a pilot of a survey intended to gather large-scale data on realtors and ICT use.

Web Site And Information System For Idaman Realty, Gopal Krishnan Lavania

Student Works (2000-2009)

I have chosen this topic of designing a web site for a real estate company as my project. This system which will be developed will give idaman realty an opportunity to have their own web site, whereby they can conduct business and attract customer to their company. This project is done in 2 part, WXET 3181 and WXET 3182. WXET 3181 will involve the system's proposal and documentation. While WXET 3182 will involve designing, implementing, testing and evaluating the system. This project is done as part of fulfilling the requirements for a Bachelor's Degree in Information Technology. I hope this …