The purpose of this paper is to stimulate thinking as to how we might produce timely and more reliable estimates of changes in the value of portfolios, price indices based on a portfolio of properties, and other aggregate measures of trends in property values. It is argued that a traditional...

This paper uses a hedonic pricing model and National Council of Real Estate Investment Fiduciaries data to estimate economic depreciation for multi-family real estate. The findings indicate that investment grade multi-family housing depreciates approximately 2.7% per year in real terms based on...

This paper compares alternative methods for taking spatial dependence into account in house price prediction. We select hedonic methods that have been reported in the literature to perform relatively well in terms of ex-sample prediction accuracy. Because differences in performance may be due to...

Introduction to income property valuation -- Appraisal principles and highest and best use -- Market area and neighborhood analysis -- Compound interest and discount factors -- Cash-flow forecasting -- Investment return calculations -- Income capitalization approach -- Sales comparison approach...