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Estimating Net Realizable Value for Distressed Real Estate

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.

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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

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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
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Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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  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.
  4. Norman G. Miller, 1978. "Time on the Market and Selling Price," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 6(2), pages 164-174.
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