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Smoothing in Commercial Property Valuations: Evidence from Individual Appraisals

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Cited by:

  1. Chihiro Shimizu & W. Erwin Diewert & Kiyohiko G. Nishimura & Tsutomu Watanabe, 2015. "Estimating quality adjusted commercial property price indexes using Japanese REIT data," Journal of Property Research, Taylor & Francis Journals, vol. 32(3), pages 217-239, September.
  2. repec:upd:utppwp:004 is not listed on IDEAS
  3. Füss, Roland & Ruf, Daniel, 2022. "Information precision and return co-movements in private commercial real estate markets," Journal of Banking & Finance, Elsevier, vol. 138(C).
  4. Kristoffer B. Birkeland & Allan D. D'Silva & Roland Füss & Are Oust, 2021. "The Predictability of House Prices: "Human Against Machine"," International Real Estate Review, Global Social Science Institute, vol. 24(2), pages 139-183.
  5. Christian Rehring & Steffen Sebastian, 2011. "Dynamics of commercial real estate asset markets, return volatility and the investment horizon," Journal of Property Research, Taylor & Francis Journals, vol. 28(4), pages 291-315, June.
  6. Özyurt, Selin, 2014. "Spatial dependence in commercial property prices: micro evidence from the Netherlands," Working Paper Series 1627, European Central Bank.
  7. David Geltner & Bryan D. MacGregor & Gregory M. Schwann, 2003. "Appraisal Smoothing and Price Discovery in Real Estate Markets," Urban Studies, Urban Studies Journal Limited, vol. 40(5-6), pages 1047-1064, May.
  8. Shaun A. Bond & Soosung Hwang & Gianluca Marcato, 2006. "An Analysis of Commercial Real Estate Returns: Is there a Smoothing Puzzle?," Real Estate & Planning Working Papers rep-wp2006-17, Henley Business School, University of Reading.
  9. Patrick Mcallister & Graeme Newell & George Matysiak, 2008. "Agreement and Accuracy in Consensus Forecasts of the UK Commercial Property Market," Journal of Property Research, Taylor & Francis Journals, vol. 25(1), pages 1-22, June.
  10. Ytzen van der Werf & Fred Huibers, 2015. "Effect of changing valuer on real estate portfolio valuations," ERES eres2015_166, European Real Estate Society (ERES).
  11. Zhenguo Lin & Kerry D. Vandell, 2006. "Illiquidity and Pricing Biases in the Real Estate Market," Working Paper 8577, USC Lusk Center for Real Estate.
  12. Gian Luca Tassinari & Corrado Corradi, 2013. "Pricing equity and debt tranches of collateralized funds of hedge fund obligations: An approach based on stochastic time change and Esscher-transformed martingale measure," Quantitative Finance, Taylor & Francis Journals, vol. 13(12), pages 1991-2010, December.
  13. John Knight & Colin Lizieri & Stephen Satchell, 2005. "Diversification when It Hurts? The Joint Distributions of Real Estate and Equity Markets1," Journal of Property Research, Taylor & Francis Journals, vol. 22(4), pages 309-323, December.
  14. Jean‐Christophe Delfim & Martin Hoesli, 2021. "Robust desmoothed real estate returns," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(1), pages 75-105, March.
  15. Christian Weistroffer & Steffen Sebastian, 2015. "The German Open-End Fund Crisis – A Valuation Problem?," The Journal of Real Estate Finance and Economics, Springer, vol. 50(4), pages 517-548, May.
  16. Pat McAllister & Graeme Newell & George Matysiak, 2005. "Analysing Uk Real Estate Market Forecast Disagreement," Real Estate & Planning Working Papers rep-wp2005-13, Henley Business School, University of Reading.
  17. Patric H. Hendershott & Thomas G. Thibodeau & Halbert C. Smith, 2009. "Evolution of the American Real Estate and Urban Economics Association1," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(4), pages 559-598, December.
  18. repec:zbw:rwirep:0454 is not listed on IDEAS
  19. Peter Öhman & Bo Söderberg & Ola Uhlin, 2011. "Accuracy of Swedish property appraisers’ forecasts of net operating income," Journal of Property Research, Taylor & Francis Journals, vol. 29(2), pages 103-122, November.
  20. J. Andrew Hansz, 2005. "Prior transaction price induced smoothing: testing and calibrating the Quan--Quigley model at the disaggregate level," Journal of Property Research, Taylor & Francis Journals, vol. 21(4), pages 321-336, April.
  21. Michael Stein, 2013. "German Real Estate Funds – Changes in Return Distributions and Portfolio Favourability," Ruhr Economic Papers 0454, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  22. Stein, Michael, 2013. "German Real Estate Funds – Changes in Return Distributions and Portfolio Favourability," Ruhr Economic Papers 454, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
  23. Robert Edelstein & Daniel Quan, 2006. "How Does Appraisal Smoothing Bias Real Estate Returns Measurement?," The Journal of Real Estate Finance and Economics, Springer, vol. 32(1), pages 41-60, February.
  24. Baroni, Michel & Barthelemy, Fabrice & Mokrane, Madhi, 2003. "Which Capital Growth Index for the Paris Residential Market?," ESSEC Working Papers DR 03002, ESSEC Research Center, ESSEC Business School.
  25. Pat McAllister & Graeme Newell & George Matysiak, 2005. "An Evaluation Of The Performance Of UK Real Estate Forecasters," Real Estate & Planning Working Papers rep-wp2005-23, Henley Business School, University of Reading.
  26. Kevin Chiang, 2009. "Discovering REIT Price Discovery: A New Data Setting," The Journal of Real Estate Finance and Economics, Springer, vol. 39(1), pages 74-91, July.
  27. Drouhin, Pierre-Arnaud, 2012. "Caractéristiques statistiques et dynamique de prix des produits dérivés immobiliers," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/10918 edited by Batsch, Laurent.
  28. repec:upd:utppwp:048 is not listed on IDEAS
  29. Soosung Hwang & Youngha Cho & Jinho Shin, 2020. "The impact of UK household overconfidence in public information on house prices," Journal of Property Research, Taylor & Francis Journals, vol. 37(4), pages 360-389, October.
  30. James Conklin & N. Edward Coulson & Moussa Diop & Thao Le, 2020. "Competition and Appraisal Inflation," The Journal of Real Estate Finance and Economics, Springer, vol. 61(1), pages 1-38, June.
  31. O. Alan Tidwell & Paul Gallimore, 2014. "The influence of a decision support tool on real estate valuations," Journal of Property Research, Taylor & Francis Journals, vol. 31(1), pages 45-63, March.
  32. Jeffrey Fisher & William Goetzmann, 2005. "The Performance of Real Estate Portfolios: A Simulation Approach," Yale School of Management Working Papers ysm456, Yale School of Management, revised 01 Jun 2005.
  33. Christopoulos, Andreas D. & Barratt, Joshua G. & Ilut, Daniel C., 2024. "Synthetic cap rate indices (1991-Covid era)," Global Finance Journal, Elsevier, vol. 60(C).
  34. Deng, Yongheng & McMillen, Daniel P. & Sing, Tien Foo, 2014. "Matching indices for thinly-traded commercial real estate in Singapore," Regional Science and Urban Economics, Elsevier, vol. 47(C), pages 86-98.
  35. Alain Chaney & Martin Hoesli, 2015. "Transaction-Based and Appraisal-Based Capitalization Rate Determinants," International Real Estate Review, Global Social Science Institute, vol. 18(1), pages 1-43.
  36. Martin Hoesli & Jon Lekander & Witold Witkiewicz, 2004. "New International Evidence on Real Estate as a Portfolio Diversifier," Journal of Real Estate Research, American Real Estate Society, vol. 26(2), pages 161-206.
  37. Pierre-Arnaud Drouhin & Arnaud Simon & Yasmine Essafi, 2016. "Forward Curve Risk Factors Analysis in the UK Real Estate Market," The Journal of Real Estate Finance and Economics, Springer, vol. 53(4), pages 494-526, November.
  38. Yun W. Park & Doo Won Bang, 2013. "Valuation of Brokers over Real Estate Cycles: Korean Evidence," International Real Estate Review, Global Social Science Institute, vol. 16(2), pages 166-188.
  39. Jim Clayton & Greg MacKinnon & Liang Peng, 2008. "Time Variation of Liquidity in the Private Real Estate Market: An Empirical Investigation," Journal of Real Estate Research, American Real Estate Society, vol. 30(2), pages 125-160.
  40. Shimizu, Chihiro & Karato, Koji, 2016. "Property Price Index Theory and Estimation: A Survey," HIT-REFINED Working Paper Series 34, Institute of Economic Research, Hitotsubashi University.
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