Abstract
The pricing of private real estate is at the mercy of the appraisal process, which is fraught with complications and inadequacies. Appraisers use three methods of determining “probable” market value—the cost, comparable sales, and income approaches—and generally, they base prices on a reconciliation of the three. Improving these reconciliation attempts is a primary challenge for the real estate industry. In addition, as appraisers and analysts come to understand the link between public-market and private-market pricing, a fourth approach will provide a useful addition to real estate appraisal—a security market approach based on daily transaction prices.This presentation comes from the Real Estate: An Alternative or Mainstream Asset? conference held in Chicago, Illinois, on September 13-14, 1994.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
