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Real Estate Modelling and Forecasting By Chris Brooks_1 doc

Real Estate Modelling and Forecasting By Chris Brooks_1 doc

Ngày tải lên : 21/06/2014, 00:20
... 12 Real Estate Modelling and Forecasting 1.8 Econometrics in real estate, finance and economics: similarities and differences The tools that we use when econometrics is applied to real estate ... Chicago, IL 60606–6307, United States Tel: (+1) 312 651 3000; Fax: (+1) 312 651 3668; Web: www.spss.com StataCorp, 4905 Lakeway Drive, College Station, Texas 77845, United States Tel: (+1) 800 782 ... the national level Databases such as the United Kingdom’s Investment Property Databank (IPD) and that of the United States National Council of Real Estate Investment Fiduciaries (NCREIF) go...
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Real Estate Modelling and Forecasting By Chris Brooks_2 potx

Real Estate Modelling and Forecasting By Chris Brooks_2 potx

Ngày tải lên : 21/06/2014, 00:20
... theory Before describing the most important summary statistics used in Real estate analysis: statistical tools 45 work with real estate data, we define the terms population and sample, which have precise ... answers 48 Real Estate Modelling and Forecasting This measure of spread is usually considered superior to the range, as it is not so heavily influenced by one or two extreme outliers that, by definition, ... characterise real estate (and economic) time series, and to characterise the residuals from a time series model In figure 3.2, the leptokurtic distribution is shown by the bold line, with the normal by...
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Real Estate Modelling and Forecasting By Chris Brooks_4 pdf

Real Estate Modelling and Forecasting By Chris Brooks_4 pdf

Ngày tải lên : 21/06/2014, 00:20
... explained by reference to changes in one single explanatory variable x What if the real estate theory or the idea that is sought to be tested suggests that the dependent variable is influenced by more ... each with a separate real estate theory for explaining the variation in some variable, yt The respective models selected by the researchers could be yt = α1 + α2 x2t + ut (5 .31) yt = β1 + β2 x3t ... coefficient by chance alone 124 Real Estate Modelling and Forecasting Trying many variables in a regression without basing the selection of the candidate variables on a real estate or economic theory...
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Real Estate Modelling and Forecasting By Chris Brooks_6 pptx

Real Estate Modelling and Forecasting By Chris Brooks_6 pptx

Ngày tải lên : 21/06/2014, 00:20
... and tenant improvement estimates are provided by a property consultancy The same source computes effective real rents by discounting cash flows with a real interest rate Hendershott makes the following ... intercept in equation (7.7) divided by the estimated coefficient on υ t+j −1 ∗ ● The equilibrium real gross rent rate g is given by the following expression: g ∗ = real risk − free rate + risk premium ... is also constant, at 0.05 (5 per cent) 212 Real Estate Modelling and Forecasting As a result, the equilibrium real rent varies through time with the real risk-free rate The author also gives examples...
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Real Estate Modelling and Forecasting By Chris Brooks_7 pdf

Real Estate Modelling and Forecasting By Chris Brooks_7 pdf

Ngày tải lên : 21/06/2014, 00:20
... models in real estate In the real estate literature, ARMA models are used mainly for short-term forecasting and to provide a benchmark by which to judge structural models 258 Real Estate Modelling ... models Their study is conducted in three regions – the United States, the United Kingdom and Australia – and the focus is on securitised real estate returns We now briefly discuss how time series ... the United States, the All REIT (equity and mortgage REITs) index series is available from January 1972 to November 1998 In the absence of a comparable securitised real estate series in the United...
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Real Estate Modelling and Forecasting By Chris Brooks_8 ppt

Real Estate Modelling and Forecasting By Chris Brooks_8 ppt

Ngày tải lên : 21/06/2014, 00:20
... in real estate, the reader is also referred to the paper by Wilson and Okunev (2001) , who combine negatively correlated forecasts for securitised real estate returns in the United States, the United ... forecasts, which in this case is eight years 9.3 Forecast accuracy studies in real estate Forecast evaluation in the real estate literature is relatively new Recent studies focus on ex post valuation ... case scenario for near-future real estate market conditions in the United Kingdom The AR(1) model in this study for both rent growth and total returns is yt = a + byt−1 + εt (9.24) where yt represents...
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Real Estate Modelling and Forecasting By Chris Brooks_9 pot

Real Estate Modelling and Forecasting By Chris Brooks_9 pot

Ngày tải lên : 21/06/2014, 00:20
... identified 310 Real Estate Modelling and Forecasting One obvious implication of this rule is that equations in a system can have differing degrees of identification, as illustrated by the following ... value of the real risk-free rate is per cent The expression for the cash flow return is r + dep + oper = real risk-free rate + premium + dep + oper = real risk-free rate + 2% + 2% + 1.5% = real risk-free ... determined by scaling down the required cash flow return (real risk-free rate + 0.055) to the effective rent in 1983 Hence the R ∗ series was the effective real rent in 1983 multiplied by the required...
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Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_2 pot

Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_2 pot

Ngày tải lên : 21/06/2014, 07:20
... theory Before describing the most important summary statistics used in Real estate analysis: statistical tools 45 work with real estate data, we define the terms population and sample, which have precise ... answers 48 Real Estate Modelling and Forecasting This measure of spread is usually considered superior to the range, as it is not so heavily influenced by one or two extreme outliers that, by definition, ... characterise real estate (and economic) time series, and to characterise the residuals from a time series model In figure 3.2, the leptokurtic distribution is shown by the bold line, with the normal by...
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Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_3 doc

Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_3 doc

Ngày tải lên : 21/06/2014, 07:20
... 76 Real Estate Modelling and Forecasting ● There are bound to be random outside influences on y that, again, cannot be modelled For example, natural disasters could affect real estate performance ... error or residual term in (4.7); all this equation states ˆ is that, given a particular value of x, multiplying it by β and adding α will ˆ 80 Real Estate Modelling and Forecasting ˆ give the model ... growth changes by one percentage point (from, say, 1.4 per cent to 2.4 per cent – i.e employment growth accelerates by one percentage point), real rent growth will tend to change by 3.27 percentage...
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Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_4 ppt

Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_4 ppt

Ngày tải lên : 21/06/2014, 07:20
... explained by reference to changes in one single explanatory variable x What if the real estate theory or the idea that is sought to be tested suggests that the dependent variable is influenced by more ... each with a separate real estate theory for explaining the variation in some variable, yt The respective models selected by the researchers could be yt = α1 + α2 x2t + ut (5 .31) yt = β1 + β2 x3t ... coefficient by chance alone 124 Real Estate Modelling and Forecasting Trying many variables in a regression without basing the selection of the candidate variables on a real estate or economic theory...
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Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_6 potx

Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_6 potx

Ngày tải lên : 21/06/2014, 07:20
... 1989 1985 1987 1981 2007 2004 2001 1998 1995 1992 1989 1986 −5 1983 −3 1980 1983 (%) 2001 (a) Real rents (2005 prices) 1985 1987 1989 1983 1981 2007 2004 2001 1998 1995 1992 1989 1986 1983 −20 1980 ... stationarity Real Estate Modelling and Forecasting 40 800 700 600 500 400 300 200 100 30 (%) 20 10 −10 2003 2005 2007 2003 2005 2007 2003 2005 2007 1999 2001 2001 1997 1995 1993 1991 (b) Real rent ... real estate through two detailed examples The regression analysis topics of chapters to are fundamental to conducting empirical research in real estate Given the importance of regression in real...
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Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_7 doc

Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_7 doc

Ngày tải lên : 21/06/2014, 07:20
... and tenant improvement estimates are provided by a property consultancy The same source computes effective real rents by discounting cash flows with a real interest rate Hendershott makes the following ... intercept in equation (7.7) divided by the estimated coefficient on υ t+j −1 ∗ ● The equilibrium real gross rent rate g is given by the following expression: g ∗ = real risk − free rate + risk premium ... is also constant, at 0.05 (5 per cent) 212 Real Estate Modelling and Forecasting As a result, the equilibrium real rent varies through time with the real risk-free rate The author also gives examples...
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Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_9 doc

Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_9 doc

Ngày tải lên : 21/06/2014, 07:20
... in real estate, the reader is also referred to the paper by Wilson and Okunev (2001) , who combine negatively correlated forecasts for securitised real estate returns in the United States, the United ... forecasts, which in this case is eight years 9.3 Forecast accuracy studies in real estate Forecast evaluation in the real estate literature is relatively new Recent studies focus on ex post valuation ... case scenario for near-future real estate market conditions in the United Kingdom The AR(1) model in this study for both rent growth and total returns is yt = a + byt−1 + εt (9.24) where yt represents...
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Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_11 ppt

Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_11 ppt

Ngày tải lên : 21/06/2014, 07:20
... These residuals are expected to 358 Real Estate Modelling and Forecasting reflect only the variation in real estate returns This series, denoted PROPRES, is the real estate market return measure used ... in the UK real estate returns index using macroeconomic factors, as the last row of table 11.9 shows Of all the lagged variables in the real estate equation, only the lags of the real estate returns ... that is assumed to determine the intertemporal behaviour of real estate returns It is possible that real estate returns may reflect real estate market influences, such as rents, yields or capitalisation...
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Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_12 pptx

Real Estate Modelling and Forecasting by Chris Brooks and Sotiris Tsolacos_12 pptx

Ngày tải lên : 21/06/2014, 07:20
... relationships and cointegration in real estate The concept of cointegration and the implications of cointegrating relationships are very relevant in the real estate market Real estate economic and investment ... How long is the long run in practice in real estate, though? The study of the long-run relationships in real estate should, ideally, include a few real estate cycles and different market contexts ... particularly in commercial real estate, even in those countries with long histories Data availability therefore limits the usefulness of cointegration in real estate More and more real estate studies now...
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Real Estate Investing Made Easy By Brian Haskins potx

Real Estate Investing Made Easy By Brian Haskins potx

Ngày tải lên : 27/06/2014, 23:20
... deals, in multiple states selling over 100 million dollars of real estate I have taught hundreds of students in all 50 states and even in other countries I still run a real estate wholesaling ... rehabbing or any other real estate strategy, can be done in any kind of real estate market, good or bad It can be done in every city across the nation big or small Nothing really affects it It’s ... cost anything Realquest.com - Realquest is a paid tool but they are much more accurate than Zillow The MLS The MLS is by far the best tool and the most accurate It’s the tools used by realtors and...
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The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone_1 doc

The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone_1 doc

Ngày tải lên : 21/06/2014, 09:20
... Investing in real estate is no different, for it will be just a means to an end It’s like trading our time for dollars at our jobs We don’t get up every morning at 6:30 to be at work by because ... vigilant, we will realize the highest probability of success in reaching our goals Thankfully, this probability of success is especially true when it comes to investing in real estate Finally, ... a friend, not a foe You will learn later that if you have a lot of levered real estate in an inf lationary time, your estate will grow at an astronomical rate But if you’ve converted all your...
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The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone_2 pdf

The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone_2 pdf

Ngày tải lên : 21/06/2014, 09:20
... CDs or stocks or mutual funds But remember, real estate benefits from leverage, and leverage is what puts real estate investing into a stratosphere by itself Because of  ( & ( 
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The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone_3 pot

The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone_3 pot

Ngày tải lên : 21/06/2014, 09:20
... and research to work by investing and buying your first property This is where the real work starts, because it’s not just a mind game now, it’s for real When you’ve finally decided it’s time to ... the entire company Well, in real estate you don’t have to start out with a 20-unit building to be successful You can start small, too, in the “mail room” of real estate investments How about ... investing in residential real estate, these components of return will help you reach your goals: Cash f low Loan reduction Appreciation Tax benefits To take full advantage of real estate as an investment,...
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