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The Methodology of Housing Value Assessment: An Analysis

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Abstract

The application of multiple regression analysis is illustrated as a means of addressing the goals of consistency and equity in assessment and in attaining the modeler's objective of parsimony. This is accomplished by presenting examples using data maintained by a local assessor's office. The issue of whether a linear model formulation suffices for such purposes is discussed, and the conclusion is that the extra time and effort required for nonlinear estimation may not provide sufficient improvement in predictive accuracy to warrant its application. The regression technique and the modeling strategy used to construct the forecast confidence interval can be implemented easily in an electronic spreadsheet on a microcomputer.

Suggested Citation

  • William A. Donnelly, 1989. "The Methodology of Housing Value Assessment: An Analysis," Journal of Real Estate Research, American Real Estate Society, vol. 4(2), pages 1-12.
    • Handle: RePEc:jre:issued:v:4:n:2:1989:p:1-12
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    Cited by:

    1. Brent W. Ambrose, 1990. "An Analysis of the Factors Affecting Light Industrial Property Valuation," Journal of Real Estate Research, American Real Estate Society, vol. 5(3), pages 355-370.
    2. Charles J. Delaney & Allen J. Seward, 1991. "An Analysis of the Relationship between Price and Variance for Homogeneous Housing Stock," Journal of Real Estate Research, American Real Estate Society, vol. 6(1), pages 99-112.
    3. Roger M. Shelor & Dwight C. Anderson & Mark L. Cross, 1990. "The Impact of the California Earthquake on Real Estate Firms' Stock Value," Journal of Real Estate Research, American Real Estate Society, vol. 5(3), pages 335-340.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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