This article surveys mainly academic literature for issues concerning the use of appraisals in
the residential lending process. The development of appraisal methodologies is reviewed …

This paper formalizes certain aspects of the sales comparison approach to valuation that
heretofore have been quite ad hoc. Specifically, it applies statistical theory to decisions …

Many of the results from real estate empirical studies depend upon using a correct functional
form for their validity. Unfortunately, common parametric statistical tools cannot easily control …

Current real estate statistical valuation involves the estimation of parameters within a posited
specification. Such parametric estimation requires judgment concerning model (1) variables; …

The vast majority of market valuations employ either some formal estimator such as ordinary
least squares (OLS) or rely upon an informal set of rules defining the grid adjustment …

When missing reliable comparables, estimating inappropriately is a high risk in the use of
both market-oriented and income approach methods. Therefore, it is useful to identify …

In agricultural land appraisal, the absence of comparable transactions poses significant
trials, especially when the appraiser oversees the challenge of assessing the market value …

Vandell (1991) recently developed a rigorous minimum variance technique for selecting and
weighting comparables in real estate appraisal. This article extends Vandell's methodology …

Purpose The purpose of this paper is to develop an innovative model that can be included
within the market approach methods for property valuations. The algorithm takes into …

This study presents the sales comparison approach to value as a system of linear algebra
equations. The difference between appraiser and academician views of this system of …