Publication Cover

International Journal of Housing Markets and Analysis

ISSN: 1753-8270
Online from: 2008

This journal is indexed by Thomson Reuters.
This journal is indexed by Scopus.

References:


Effectiveness comparison of the residential property mass appraisal methodologies in the USA

References

Citation:
Chung Chun Lin, Satish B. Mohan, (2011) "Effectiveness comparison of the residential property mass appraisal methodologies in the USA", International Journal of Housing Markets and Analysis, Vol. 4 Issue: 3, pp.224-243, doi: 10.1108/17538271111153013
DOI
http://dx.doi.org/10.1108/17538271111153013
Downloads:
The fulltext of this document has been downloaded 324 times since 2011

Keywords:
United States of America, Neural nets, Residential properties, Statistical methods, Housing price estimation
Type:
Research paper
Publisher:
Emerald Group Publishing Limited
Copyright:
© Emerald Group Publishing Limited 2011
Published by Emerald Group Publishing Limited
References
1.
Anglin, P.M. and Gencay, R. (1996), “Semiparametric estimation of a hedonic price function”, Journal of Applied Econometrics, Vol. 11 No. 6, pp. 63348. [Google Scholar] [CrossRef], [ISI] [Infotrieve]

2.
Blettner, R.A. (1969), “Mass appraisals via multiple regression analysis”, Appraisal Journal, Vol. 37 No. 4, pp. 51321. [Google Scholar] [Infotrieve]

3.
Coulson, N.E. (1992), “Semiparametric estimates of the marginal price of floorspace”, Journal of Real Estate Finance & Economics, Vol. 5 No. 1, pp. 7383. [Google Scholar] [CrossRef] [Infotrieve]

4.
Din, A., Hoesli, M. and Bender, A. (2001), “Environmental variables and real estate prices”, Urban Studies, Vol. 38 No. 11, pp. 19892000. [Google Scholar] [CrossRef], [ISI] [Infotrieve]

5.
Do, Q. and Grudnitski, G. (1993), “A neural network analysis of the effect of age on housing values”, Journal of Real Estate Research, Vol. 8, pp. 25364. [Google Scholar]

6.
Eisenlauer, J.F. (1968), “Mass versus individual appraisals”, Appraisal Journal, October, pp. 53240. [Google Scholar]

7.
Gencay, R. and Yang, X. (1996), “A forecast comparison of residential housing prices by parametric versus semiparametric conditional mean estimators”, Economic Letters, Vol. 52 No. 2, pp. 12935. [Google Scholar] [CrossRef], [ISI] [Infotrieve]

8.
Hornik, K. (1991), “Approximation capabilities of multi‐layer feed‐forward networks”, Neural Networks, Vol. 4, pp. 2517. [Google Scholar] [CrossRef], [ISI]

9.
Hastie, T.J. and Tibshirani, R.J. (1990). Generalized Additive Models, Chapman and Hall, London. [Google Scholar]

10.
Kwok, T.‐Y. and Yeung, D.‐Y. (1997), “Constructive algorithms for structure learning in feedforward neural networks for regression problems”, IEEE Transactions on Neural Networks, Vol. 8 No. 5, pp. 113148. [Google Scholar] [CrossRef] [Infotrieve]

11.
Lenk, M., Worzala, E. and Silva, A. (1997), “High‐tech valuation: should artificial neural networks bypass the human valuer?”, Journal of Property Valuation & Investment, Vol. 15, pp. 826. [Google Scholar] [Link]

12.
McCluskey, W.J. and Borst, R.A. (1997), “An evaluation of MRA, comparable sales analysis and ANNs for the mass appraisal of residential property in Northern Ireland”, Assessment Journal, Vol. 4 No. 1, pp. 4755. [Google Scholar] [Infotrieve]

13.
McGreal, S., Adair, A., McBurney, D. and Patterson, D. (1998), “Neural networks: the prediction of residential values”, Journal of Property Valuation & Investment, Vol. 16 No. 1, pp. 5770. [Google Scholar] [Link] [Infotrieve]

14.
Masters, T. (1993), Practical Neural Network Recipes in C++, Academic Press, Boston, MA. [Google Scholar]

15.
Meese, R. and Wallace, N. (1991), “Nonparametric estimation of dynamic hedonic price models and the construction of residential housing price indices”, Journal of the American Real Estate and Urban Economics Association, Vol. 19 No. 3, pp. 30931. [Google Scholar] [CrossRef] [Infotrieve]

16.
Nguyen, N. and Cripps, A. (2001), “Predicting housing value: a comparison of multiple regression analysis and artificial neural network”, Journal of Real Estate Research, Vol. 22 No. 3, pp. 31336. [Google Scholar] [Infotrieve]

17.
Pace, R.K. (1993), “Nonparametric methods with applications to hedonic models”, Journal of Real Estate Finance and Economics, Vol. 7 No. 3, pp. 185204. [Google Scholar] [CrossRef], [ISI] [Infotrieve]

18.
Pace, R.K. (1995), “Parametric, semiparametric, and nonparametric estimation of characteristic values within mass assessment and hedonic pricing models”, Journal of Real Estate Finance and Economics, Vol. 11 No. 3, pp. 195217. [Google Scholar] [CrossRef], [ISI] [Infotrieve]

19.
Rumelhart, D.E., Hinton, G.E. and Williams, R.J. (1986), “Learning representations by back‐propagating errors”, Nature, Vol. 323, pp. 5336. [Google Scholar] [CrossRef], [ISI]

20.
Thibodeau, T.G. (2003), “Marking single‐family property values to marketReal Estate Economics, Vol. 31 No. 1, pp. 122. [Google Scholar] [CrossRef], [ISI] [Infotrieve]

21.
Visit, L., Christopher, G. and Lee, M. (2004), “House price predication: hedonic price model vs. artificial neural network”, American Journal of Applied Science, Vol. 3, pp. 193201. [Google Scholar]

22.
Worzala, E., Lenk, M. and Silva, A. (1995), “An exploration of neural networks and its application to real estate valuation”, Journal of Real Estate Research, Vol. 10 No. 2, pp. 185202. [Google Scholar] [Infotrieve]

23.
Zheng‐Gui, Ma (2006), “Residential property assessment”, Master thesis, State University of New York, Buffalo, NY. [Google Scholar]

Further Reading
1.
Lin, C.C. (2010), “Critical analysis and effectiveness of key parameters in residential property valuations”, PhD dissertation, State University of New York, Buffalo, NY, December. [Google Scholar]

2.
Lin, C.C. and Mohan, S.B. (2010), “An artificial neural network model for mass appraisal of residential housing”, paper submitted to Journal of Neural Networks, Manuscript Number: NEUNET‐D‐10‐00157, June 22. [Google Scholar]

3.
Lin, C.C., Mohan, S.B. and Hutson, A. (2010), “Housing price estimation using statistical methods and GIS technology”, paper submitted to Journal of Housing Economics, Manuscript Number: JHEC‐D‐10‐00042, April 22. [Google Scholar]

4.
Lin, C.C., Mohan, S.B. and Hutson, A. (2010), “An additive nonparametric regression model for mass appraisal of residential housing”, Empirical Economics, Manuscript Number: MS 2010230, August 13. [Google Scholar]

Share

Kudos service for authors