Evaluating real estate valuation systems

被引：20
|
作者：
Shiller, RJ
Weiss, AN
机构：
[1] Yale Univ, Cowles Fdn, New Haven, CT 06520 USA
[2] Case Schiller Weiss Inc, Cambridge, MA 02138 USA
来源：
JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 1999年 / 18卷 / 02期
关键词：
appraisal; automated valuation models (AVMs); accuracy; mortgage; default; foreclosure; density estimation and profit simulation (DEPS) method;
D O I：
10.1023/A:1007756607862
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
A framework for comparing real estate valuation systems (including automated valuation models (AVMs) and current appraisal methods) is proposed. The density estimation and profit simulation (DEPS) method measures quality of a valuation system by simulating benefits to the mortgage lender who uses this method in mortgage underwriting to limit mortgage portfolio losses due to default. Related simple measures relevant to the selection of a valuation system are also discussed: skewness of the distribution of errors, correlation of valuation errors with current selling price errors, correlation of errors of the valuation system with errors of valuation systems used by competing mortgage lenders, and other measures.
引用
收藏
页码：147 / 161
页数：15
相关论文
共 50 条
  • [1] Evaluating real estate valuation systems
    Shiller, RJ
    Weiss, AN
    [J]. AMERICAN STATISTICAL ASSOCIATION - 1996 PROCEEDINGS OF THE BUSINESS AND ECONOMIC STATISTICS SECTION, 1996, : 170 - 175
  • [2] Evaluating Real Estate Valuation Systems
    Robert J. Shiller
    Allan N. Weiss
    [J]. The Journal of Real Estate Finance and Economics, 1999, 18 : 147 - 161
  • [3] Real estate mass valuation systems for taxation
    Osuna, Jesus Manuel Fitch
    [J]. CONTEXTO-REVISTA DE LA FACULTAD DE ARQUITECTURA UNIVERSIDAD AUTONOMA DE NUEVO LEON, 2016, 10 (13): : 51 - 63
  • [4] The Valuation of Real Estate
    Washburn, F. DzW.
    [J]. ACCOUNTING REVIEW, 1933, 8 (02): : 176 - 177
  • [5] Real Estate Valuation
    Washburn, F. DzW.
    [J]. ACCOUNTING REVIEW, 1932, 7 (04): : 314 - 314
  • [6] The Valuation of Real Estate
    Scholz, Karl
    [J]. ANNALS OF THE AMERICAN ACADEMY OF POLITICAL AND SOCIAL SCIENCE, 1933, 169 : 219 - 219
  • [7] THE VALUATION OF REAL ESTATE
    不详
    [J]. HARVARD LAW REVIEW, 1934, 48 (01) : 162 - 163
  • [8] The Valuation of Real Estate
    Martin, James W.
    [J]. AMERICAN ECONOMIC REVIEW, 1933, 23 (04): : 763 - 764
  • [9] VALUATION OF REAL ESTATE
    Mucklow, Walter
    [J]. JOURNAL OF ACCOUNTANCY, 1933, 55 (03): : 230 - 231
  • [10] Real estate valuation
    Garcia Balboa, Jose Luis
    [J]. GEOFOCUS-REVISTA INTERNACIONAL DE CIENCIA Y TECNOLOGIA DE LA INFORMACION GEOGRAFICA, 2005, (05):
12345