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The Impact of Settlement Period on Sales Price

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  • Asabere, Paul K
  • Huffman, Forrest E

Abstract

This study is an empirical investigation of the impact of "settlement period" on sales price while controlling for "marketing period" and standard explanatory variables. The hypothesized positive relationship between "settlement period" and sales price is confirmed by the results of this study. The estimated coefficient on "settlement period" is 0.0008 meaning that our market, on average, exacts a premium of 0.08 percent per day of "settlement period" beyond a "norm" of 60 days. The estimated coefficient on "marketing period" (a control variable) is -0.0003 meaning that our market, on average, requires a discount of 0.03 percent per day of "marketing period." Our findings show the relative importance of "settlement period" in making real estate pricing decisions. Copyright 1993 by Kluwer Academic Publishers

Suggested Citation

  • Asabere, Paul K & Huffman, Forrest E, 1993. "The Impact of Settlement Period on Sales Price," The Journal of Real Estate Finance and Economics, Springer, vol. 7(3), pages 213-219, November.
  • Handle: RePEc:kap:jrefec:v:7:y:1993:i:3:p:213-19
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    Cited by:

    1. Geoffrey Turnbull & Velma Zahirovic-Herbert, 2012. "The Transitory and Legacy Effects of the Rental Externality on House Price and Liquidity," The Journal of Real Estate Finance and Economics, Springer, vol. 44(3), pages 275-297, April.
    2. Mark A. Lane & Vicky L Seiler & Michael J. Seiler, 2015. "The Impact of Staging Conditions on Residential Real Estate Demand," Framed Field Experiments 00631, The Field Experiments Website.
    3. Hort, Katinka, 2000. "Prices and turnover in the market for owner-occupied homes," Regional Science and Urban Economics, Elsevier, vol. 30(1), pages 99-119, January.
    4. Kenneth M. Lusht & J. Andrew Hansz, 1994. "Some Further Evidence on the Price of Mortgage Contingency Clauses," Journal of Real Estate Research, American Real Estate Society, vol. 9(2), pages 213-218.

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