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Residential Appraisal and the Lending Process: A Survey of Issues

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Author Info
George H. Lentz () (Department of Finance, Real Estate and Law California State Polytechnic University-Pomona Pomona, California 92768)
Ko Wang (Department of Finance The Chinese University of Hong Kong Shatin N.T. Hong Kong & Department of Finance California State University, Fullerton Fullerton, California 92634)

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Abstract

This article surveys mainly academic literature for issues concerning the use of appraisals in the residential lending process. The development of appraisal methodologies is reviewed, and the strengths and weaknesses of various appraisal techniques are assessed. Issues relating to the use of neighborhood characteristics in appraisals for lending purposes are also explored. Finally, institutional incentives that give rise to biased and self-serving appraisals and possible solutions to these incentive problems are examined.

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File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol15n01/v15p011.pdf
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Publisher Info
Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

Volume (Year): 15 (1998)
Issue (Month): 1 ()
Pages: 11-40
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Handle: RePEc:jre:issued:v:15:n:1:1998:p:11-40

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

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Maurizio d’Amato, 2007. "Comparing Rough Set Theory with Multiple Regression Analysis as Automated Valuation Methodologies," International Real Estate Review, Asian Real Estate Society, vol. 10(2), pages 42-65. [Downloadable!]
  2. John A. Kilpatrick & Ronald C. Throupe & John I. Carruthers & Andrew Krause, 2007. "The Impact of Transit Corridors on Residential Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 29(3), pages 303-320. [Downloadable!]
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