Real Estate Principles: A Value Approach (Mchill-hill/Irwin Series in Finance, Insurance, and Real Estate)

Real Estate Principles: A Value Approach demonstrates how value is central to virtually all real estate decision-making. Students using Ling and Archer should finish the course with a value-oriented framework and a set of valuation and decision making tools that can be applied in a variety of real-world situations. The key to making sound investment decision is to understand how property values are created, maintained, increased or destroyed.Since the launch of Real Estate Principles: A Value Approach, significant and lasting changes have come upon the world of real estate. This is very true in real estate finance and capital sources where most of the traditional lenders have been transformed or displaced, giving way to a radically different set of players in mortgage finance. There has been change with profound and far-reaching implications in a world where it is understandable that property values can go down as well as up. This realization will color every aspect of real estate investment, finance and transactions for the foreseeable future. (Publisher) Setting The Stage? -- The Nature Of Real Estate And Real Estate Markets? -- Legal And Regulatory Determinants Of Value -- Legal Foundations To Value -- Conveying Real Property Interests -- Government Controls And Real Estate Markets -- Market Valuation And Appraisal -- Market Determinants Of Value -- Forecasting Ownership Benefits And Value : Market Research -- Valuation Using The Sales Comparison And Cost Approaches -- Valuation Using The Income Approach -- Financing Home Ownership -- Real Estate Finance : The Laws And Contracts -- Residential Mortgage Types And Borrower Decisions -- Sources Of Funds For Residential Mortgages -- Brokering And Closing The Transaction -- Real Estate Brokerage And Listing Contracts -- Contracts For Sale And Closing -- Time, Opportunity Cost, And Value Decisions -- The Effects Of Time And Risk On Value -- Mortgage Calculations And Decisions -- Financing And Investing In Commercial Real Estate -- Commercial Mortgage Types And Decisions -- Sources Of Commercial Debt And Equity Capital -- Investment Decisions : Ratios -- Investment Decisions : Npv And Irr -- Income Taxation And Value -- Creating And Maintaining Value -- Enhancing Value Through Ongoing Management -- Leases And Property Types -- Development : The Dynamics Of Creating Value -- Glossary -- Photo Credits -- Index. David C. Ling, University Of Florida, Wayne R. Archer, University Of Florida. Includes Index. Revised Edition Of The Authors' Real Estate Principles, C2012.