Real Estate Perspectives: An Introduction to Real Estate
Irwin/McGraw-Hill, 1998 - Business & Economics - 798 pages
This text provides a clear presentation of the numerous investment decisions involved in real estate such as whether and how to lease, buy, sell, or mortgage a property; how to analyze and predict the forces in the market that determine real estate values; whether and when to renovate, rehabilitate, or demolish; and when and how to divest a property. The authors use Value as a unifying theme, supporting their view that students best understand and appreciate the importance of the complex economic, social, and legal processes that affect real estate markets after they have developed an understanding of how real estate valuation and investment decisions are made. The text provides a decision-making framework through a greater use of technology and quantitative decision-making tools. It is organized into five perspectives: Investment, Market, Value, Mortgage Finance and Legal.
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Real Estate Perspectives
Ideas about Property Rights and Contracts
Real Estate Relative to Worldwide Wealth in 1991
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adjusted amortization amount analysis annual appraisal assets before-tax borrower broker BTCF buyers calculated capitalization rate cash flows Chapter commercial construction contract corporation costs debt decisions deductible default depreciation discount rate discussed economic equity estimate example Exhibit expected return Fannie Mae federal Freddie Mac Ginnie Mae income property increase interest rate investors land leases lenders liability limited partnership listing contract losses market value ment monthly payments mortgage loans mortgage market NAREIT operating expenses owners ownership pension funds percent portfolio potential present value problems property rights property tax property types property's purchase rate of return ratio REAL ESTATE FOCUS real estate investment real estate markets real property REITs rent rental risk risky securities securitization sell seller shopping center space standard deviation Suburban Office Building tax rate taxable income tenants Treasury securities typically unsystematic risk vacancy