Real Estate Principles: A Value Approach

by ;
Edition: 4th
Format: Hardcover
Pub. Date: 2012-12-18
Publisher(s): McGraw-Hill Education
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Summary

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.

Table of Contents

Part 1: Setting the Stage

1. The Nature of Real Estate and Real Estate Markets

2. Value and Real Estate Decisions

Part 2: Legal and Regulatory Determinants of Value

3. Legal Foundations to Value

4. Conveying Real Property Interests

5. Government Controls and Real Estate Markets

Part 3: Market Analysis and Appraisal

6. Market Determinants of Value

7. Forecasting Ownership Benefits and Value: Market Research

8. Valuation Using the Sales Comparison and Cost Approaches

9. Valuation Using the Income Approach

Part 4: Financing Home Ownership

10. Real Estate Finance: The Laws and Contracts

11. Residential Mortgage Types and Borrower Decisions

12. Sources of Funds for Residential Mortgages

Part 5: Brokering and Closing the Transaction

13. Real Estate Brokerage and Listing Contracts

14. Contracts for Sale and Closing

Part 6: Time, Opportunity Cost and Value Decisions

15. The Effects of Time and Risk on Value

16. Mortgage Calculations and Decisions

Part 7: Financing and Investing in Commercial Real Estate

17. Commercial Mortgage Types and Decisions

18. Sources of Commercial Debt and Equity Capital

19. Investment Decisions: Ratios

20. Investment Decisions: NPV and IRR

21. Income Taxation and Value

Part 8: Creating and Maintaining Value

22. Enhancing Value through Ongoing Management

23. Leases and Property Types

24. Development: The Dynamics of Creating Value

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