The accuracy of senior households' estimates of home values: Application to the reverse mortgage decision
Using a unique data set of more than 14,000 senior homeowners in the United States, this
study compares self‐assessed home values to arm's length contemporaneous appraisals. In
a sample of seniors who received counseling for a reverse mortgage, the absolute value of
the assessment error averages 18.9% of appraised value and it is biased upwards by
13.4%. When adjusted to reflect the general population of seniors, the size and bias of the
average error fall to 16.1% and 4.2%. Both the bias and the size of the error tend to be lower …
study compares self‐assessed home values to arm's length contemporaneous appraisals. In
a sample of seniors who received counseling for a reverse mortgage, the absolute value of
the assessment error averages 18.9% of appraised value and it is biased upwards by
13.4%. When adjusted to reflect the general population of seniors, the size and bias of the
average error fall to 16.1% and 4.2%. Both the bias and the size of the error tend to be lower …
[PDF][PDF] The Accuracy of Senior Households' Estimates of Home Values: Application to the Reverse Mortgage Decision Donald Haurin Economics, Ohio State University …
S Moulton, W Shi - academia.edu
Using a unique dataset of more than 14,000 senior homeowners in the US, this study
compares selfassessed home values to arm's length contemporaneous appraisals. In a
sample of seniors who received counseling for a reverse mortgage, the absolute value of the
assessment error averages 18.9 percent of appraised value and it is biased upwards by
13.4 percent. When adjusted to reflect the general population of seniors, the size and bias of
the average error fall to 16.1 and 4.2 percent. Both the bias and the size of the error tend to …
compares selfassessed home values to arm's length contemporaneous appraisals. In a
sample of seniors who received counseling for a reverse mortgage, the absolute value of the
assessment error averages 18.9 percent of appraised value and it is biased upwards by
13.4 percent. When adjusted to reflect the general population of seniors, the size and bias of
the average error fall to 16.1 and 4.2 percent. Both the bias and the size of the error tend to …
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