Advanced Search
MyIDEAS: Login

Estimating Net Realizable Value for Distressed Real Estate

Contents:

Author Info

Registered author(s):

    Abstract

    This paper provides a framework for adjusting distressed real estate properties for liquidating discounts. We estimate the probability of receiving an offer on a property in any particular short interval of time. Our empirical evidence allows us to predict the average rate at which offers will occur in any particular interval of time. Further, it allows us to arrive at an estimate of net realizable value, adjusted for selling expenses.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol05n01/v05p129.pdf
    File Function: Full text
    Download Restriction: no

    Bibliographic Info

    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 5 (1990)
    Issue (Month): 1 ()
    Pages: 129-140

    as in new window
    Handle: RePEc:jre:issued:v:5:n:1:1990:p:129-140

    Contact details of provider:
    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
    Email:
    Web page: http://www.aresnet.org/

    Order Information:
    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
    Email:
    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

    Related research

    Keywords:

    Find related papers by JEL classification:

    References

    References listed on IDEAS
    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.:
    as in new window
    1. Richard V. Butler, 1982. "The Specification of Hedonic Indexes for Urban Housing," Land Economics, University of Wisconsin Press, vol. 58(1), pages 96-108.
    2. Norman G. Miller & Michael A. Sklarz, 1987. "Pricing Strategies and Residential Property Selling Prices," Journal of Real Estate Research, American Real Estate Society, vol. 2(1), pages 31-40.
    3. Han Bin Kang & Mona J. Gardner, 1989. "Selling Price and Marketing Time in the Residential Real Estate Market," Journal of Real Estate Research, American Real Estate Society, vol. 4(1), pages 21-35.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Anthony Pennington-Cross, 2006. "The Value of Foreclosed Property," Journal of Real Estate Research, American Real Estate Society, vol. 28(2), pages 193-214.
    2. Harding, John P. & Rosenblatt, Eric & Yao, Vincent W., 2012. "The foreclosure discount: Myth or reality?," Journal of Urban Economics, Elsevier, vol. 71(2), pages 204-218.
    3. Fred A. Forgey & Ronald C. Rutherford & Michael L. VanBuskirk, 1994. "Effect of Foreclosure Status on Residential Selling Price," Journal of Real Estate Research, American Real Estate Society, vol. 9(3), pages 313-318.
    4. Paul Carrillo, 2013. "Testing for Fraud in the Residential Mortgage Market: How Much Did Early-Payment-Defaults Overpay for Housing?," The Journal of Real Estate Finance and Economics, Springer, vol. 47(1), pages 36-64, July.
    5. Terrence Clauretie & Nasser Daneshvary, 2011. "The Optimal Choice for Lenders Facing Defaults: Short Sale, Foreclose, or REO," The Journal of Real Estate Finance and Economics, Springer, vol. 42(4), pages 504-521, May.
    6. George H. Lentz & Ko Wang, 1998. "Residential Appraisal and the Lending Process: A Survey of Issues," Journal of Real Estate Research, American Real Estate Society, vol. 15(1), pages 11-40.
    7. Brounen, D., 2008. "The Boom and Gloom of Real Estate Markets," ERIM Inaugural Address Series Research in Management EIA-2008-035-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
    8. William G. Hardin, III & Marvin L. Wolverton, 1996. "The Relationship between Foreclosure Status and Apartment Price," Journal of Real Estate Research, American Real Estate Society, vol. 12(1), pages 101-109.
    9. Ping Cheng & Zhenguo Lin & Yingchun Liu, 2010. "Home Price, Time-on-Market, and Seller Heterogeneity Under Changing Market Conditions," The Journal of Real Estate Finance and Economics, Springer, vol. 41(3), pages 272-293, October.
    10. William G. Hardin, III & Marvin L. Wolverton, 1999. "Equity REIT Property Acquisitions: Do Apartment REITs Pay a Premium?," Journal of Real Estate Research, American Real Estate Society, vol. 17(1), pages 113-126.
    11. David Ling & Milena Petrova, 2008. "Avoiding Taxes at Any Cost: The Economics of Tax-Deferred Real Estate Exchanges," The Journal of Real Estate Finance and Economics, Springer, vol. 36(4), pages 367-404, May.
    12. Jerry T. Haag & Ronald C. Rutherford & Thomas A. Thomson, 2000. "Real Estate Agent Remarks: Help or Hype?," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 205-215.
    13. Thomas M. Carroll & Terrence M. Clauretie & Helen R. Neill, 1997. "Effect of Foreclosure Status on Residential Selling Price: Comment," Journal of Real Estate Research, American Real Estate Society, vol. 13(1), pages 95-102.
    14. Satyajit Chatterjee & Burcu Eyigungor, 2011. "A quantitative analysis of the U.S. housing and mortgage markets and the foreclosure crisis," Working Papers 11-26, Federal Reserve Bank of Philadelphia.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:5:n:1:1990:p:129-140. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.