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Abstract

Multiple regression analysis (MRA) has proven to be a useful tool to predict selling prices in a mass appraisal context. The significance of determinative value elements – identified by more conventional methods such as sale verification or pairings – can objectively be confirmed or rejected by the practicing appraiser employing MRA. This is demonstrated with the analysis of a small set of sales of rural lots in southeast Alaska. This article aims to: • Demonstrate the strength of MRA to explain rather than to predict selling price or value of real estate in dynamic markets; • Encourage an increased use of regression techniques properly applied by those who are familiar with MRA but do not routinely use statistical methods; and • Show the usefulness of MRA in supporting area market trends, in the selection of comparable sales and in the application of qualitative adjustments for difficult-toquantify property attributes in specific appraisal assignments.

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