Skip to main content
Erschienen in:
Buchtitelbild

2017 | OriginalPaper | Buchkapitel

A Brief Outline of AVM Models and Standards Evolutions

verfasst von : Maurizio d’Amato

Erschienen in: Advances in Automated Valuation Modeling

Verlag: Springer International Publishing

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

The paper is a brief outline of the methodological evolution of Automated Valuation Modelling along the time. A further outlook is dedicated to the evolution of standards on Automated Valuation Methodology. Both the profiles may be useful to understand the increasing role of Automated Valuation Methodologies and the growth of their importance especially for the stability of the economic and social system and how they changed over the time.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Literatur
Zurück zum Zitat Adair, A., & McGreal, S. (1988). The application of multiple regression analysis in property valuation. Journal of Property Valuation and Investment, 6, 57–67. Adair, A., & McGreal, S. (1988). The application of multiple regression analysis in property valuation. Journal of Property Valuation and Investment, 6, 57–67.
Zurück zum Zitat Adair, A. S., Berry, J. N., & McGreal, S. W. (1996). Hedonic modelling, housing submarkets and residential valuation. Journal of Property Research, 13(1), 67–83.CrossRef Adair, A. S., Berry, J. N., & McGreal, S. W. (1996). Hedonic modelling, housing submarkets and residential valuation. Journal of Property Research, 13(1), 67–83.CrossRef
Zurück zum Zitat Ambrose, B. (1990). An analysis of the factors affecting light industrial property valuation. Journal of Real Estate Research, 5, 355–370. Ambrose, B. (1990). An analysis of the factors affecting light industrial property valuation. Journal of Real Estate Research, 5, 355–370.
Zurück zum Zitat Anselin, L. (1988). Spatial econometrics: Methods and models. Dordrecht: Kluwer Academic Publishers.CrossRefMATH Anselin, L. (1988). Spatial econometrics: Methods and models. Dordrecht: Kluwer Academic Publishers.CrossRefMATH
Zurück zum Zitat Anselin, L., & Rey, S. (1991). Properties of tests for spatial dependence in linear regression models. Geographical Analysis, 23(2), 112–131.CrossRef Anselin, L., & Rey, S. (1991). Properties of tests for spatial dependence in linear regression models. Geographical Analysis, 23(2), 112–131.CrossRef
Zurück zum Zitat Appraisal Institute. (2006). Advisory Opinion 18 Use of an automated valuation method. Chicago, IL. Appraisal Institute. (2006). Advisory Opinion 18 Use of an automated valuation method. Chicago, IL.
Zurück zum Zitat Ball, M. J. (1973). Recent empirical work on determinants of relative house prices. Urban Studies, 10, 213–223. Ball, M. J. (1973). Recent empirical work on determinants of relative house prices. Urban Studies, 10, 213–223.
Zurück zum Zitat Beach, C. M., & MacKinnon, J. G. (1978). A maximum likelihood procedure for regression with autocorrelatederrors. Econometrica, 46, January, 51–58. Beach, C. M., & MacKinnon, J. G. (1978). A maximum likelihood procedure for regression with autocorrelatederrors. Econometrica, 46, January, 51–58.
Zurück zum Zitat Benjamin, J. D., Guttery, R. S., & Sirmans, C. F. (2004). Mass appraisal: An introduction to multiple regression analysis for real estate valuation. Journal of Real Estate Practice and Education, 7, 65–77. Benjamin, J. D., Guttery, R. S., & Sirmans, C. F. (2004). Mass appraisal: An introduction to multiple regression analysis for real estate valuation. Journal of Real Estate Practice and Education, 7, 65–77.
Zurück zum Zitat Berry, B. J., & Bednarz, R. S. (1975). A hedonic model of prices and assessments for single-family homes: Does the assessor follow the market or the market follow the assessor? Land Economics, 51(1), 21–40.CrossRef Berry, B. J., & Bednarz, R. S. (1975). A hedonic model of prices and assessments for single-family homes: Does the assessor follow the market or the market follow the assessor? Land Economics, 51(1), 21–40.CrossRef
Zurück zum Zitat Biłozor, A., Renigier-Biłozor, M. (2016) The procedure of assessing usefulness of the land in the process of optimal investment location for multi-family housing function. World Multidisciplinary Civil Engineering-Architecture-Urban Planning Symposium. WMCAUS 2016 Praga. Biłozor, A., Renigier-Biłozor, M. (2016) The procedure of assessing usefulness of the land in the process of optimal investment location for multi-family housing function. World Multidisciplinary Civil Engineering-Architecture-Urban Planning Symposium. WMCAUS 2016 Praga.
Zurück zum Zitat Borst, R. A. (1992). Artificial neural networks: The next modelling/calibration technology for the assessment community. Artificial Neural Networks, 1992, P64–P94. Borst, R. A. (1992). Artificial neural networks: The next modelling/calibration technology for the assessment community. Artificial Neural Networks, 1992, P64–P94.
Zurück zum Zitat Borst, R. (2015) Improving mass appraisal valuation models using spatio temporal methods, International Property Tax Institute. Borst, R. (2015) Improving mass appraisal valuation models using spatio temporal methods, International Property Tax Institute.
Zurück zum Zitat Borst, R. A., & McCluskey W. J. (2007) Comparative evaluation of the comparable sales method with geostatistical valuation models. Pacifc Rim Property Research Journal 13(1), 106–129. Borst, R. A., & McCluskey W. J. (2007)  Comparative evaluation of the comparable sales method with geostatistical valuation models. Pacifc Rim Property Research Journal 13(1), 106–129.
Zurück zum Zitat Borst, R. A., & McCluskey, W. J. (2008). The modified comparable sales method as the basis for a property tax valuations system and its relationship and comparison to spatially autoregressive valuation models Chapter 3. In Kauko, T & d’Amato, M. (eds) Mass Appraisal Methods. An international perspectives for property valuers, Wiley Blackwell, London Borst, R. A., & McCluskey, W. J. (2008). The modified comparable sales method as the basis for a property tax valuations system and its relationship and comparison to spatially autoregressive valuation models Chapter 3. In Kauko, T & d’Amato, M. (eds) Mass Appraisal Methods. An international perspectives for property valuers, Wiley Blackwell, London
Zurück zum Zitat Borst, R. A., & McCluskey, W. J. (2008b). Using geographically weighted regression to detect housing submarkets: Modeling large-scale spatial variations in value. Journal of Property Tax Assessment and Administration, 5(1), 21–51. Borst, R. A., & McCluskey, W. J. (2008b). Using geographically weighted regression to detect housing submarkets: Modeling large-scale spatial variations in value. Journal of Property Tax Assessment and Administration, 5(1), 21–51.
Zurück zum Zitat Can, A. (1990). The measurement of neighborhood dynamics in urban house prices. Economic Geography, 66, 254–272.CrossRef Can, A. (1990). The measurement of neighborhood dynamics in urban house prices. Economic Geography, 66, 254–272.CrossRef
Zurück zum Zitat Can, A. (1992). Specification and estimation of hedonic housing price models. Regional Science and Urban Economics, 22, 453–474.CrossRef Can, A. (1992). Specification and estimation of hedonic housing price models. Regional Science and Urban Economics, 22, 453–474.CrossRef
Zurück zum Zitat Cannaday, R. E. (1989). How should you estimate and provide market support for adjustments in single family appraisals. Real Estate Appraiser and Analyst, 55(4), 43–54. Cannaday, R. E. (1989). How should you estimate and provide market support for adjustments in single family appraisals. Real Estate Appraiser and Analyst, 55(4), 43–54.
Zurück zum Zitat Case, B., Clapp, J., Dubin, R., & Rodriguez, M. (2004). Modeling spatial and temporal house price patterns: A comparison of four models. Journal of Real Estate Finance and Economics, 29(2), 167–191.CrossRef Case, B., Clapp, J., Dubin, R., & Rodriguez, M. (2004). Modeling spatial and temporal house price patterns: A comparison of four models. Journal of Real Estate Finance and Economics, 29(2), 167–191.CrossRef
Zurück zum Zitat Casetti, E. (1972). Generating models by the expansion method: Applications to geographic research. Geographical Analysis, 4, 81–91.CrossRef Casetti, E. (1972). Generating models by the expansion method: Applications to geographic research. Geographical Analysis, 4, 81–91.CrossRef
Zurück zum Zitat Cassel, E., & Mendelson, R. (1985). The choice of functional forms for hedonic price equations: Comment. Journal of Urban Economics, 18, 135–142.CrossRef Cassel, E., & Mendelson, R. (1985). The choice of functional forms for hedonic price equations: Comment. Journal of Urban Economics, 18, 135–142.CrossRef
Zurück zum Zitat Ciuna, M. (2010). L’Allocation method per la stima delle aree edificabili. AESTIMUM, 57, 171–184. Ciuna, M. (2010). L’Allocation method per la stima delle aree edificabili. AESTIMUM, 57, 171–184.
Zurück zum Zitat Ciuna, M. (2011). The valuation error in the compound values. AESTIMUM [S.l.], pp. 569–583, Aug. 2013. ISSN:1724-2118. Ciuna, M. (2011). The valuation error in the compound values. AESTIMUM [S.l.], pp. 569–583, Aug. 2013. ISSN:1724-2118.
Zurück zum Zitat Ciuna, M., Salvo F., & Simonotti M. (2015a). Appraisal Value and Assessed Value in Italy. International journal of economics and statistics. Pages: 24–31. ISSN: 2309-0685. Ciuna, M., Salvo F., & Simonotti M. (2015a). Appraisal Value and Assessed Value in Italy. International journal of economics and statistics. Pages: 24–31. ISSN: 2309-0685.
Zurück zum Zitat Ciuna, M., & Simonotti, M. (2014). Real estate surfaces appraisal. AESTIMUM 64. Giugno, 2014, 1–13. Ciuna, M., & Simonotti, M. (2014). Real estate surfaces appraisal. AESTIMUM 64. Giugno, 2014, 1–13.
Zurück zum Zitat Ciuna, M., Salvo, F., & Simonotti, M. (2014a). The expertise in the real estate appraisal in Italy. Recent advances in civil engineering and mechanics. In Proceedings of the 5th European Conference of Civil Engineering (ECCIE ‘14) (pp. 120–129). Florence, Italy. November 22–24, 2014. North Atlantic University Union. Series: Mathematics and Computers in Science and Engineering Series, 36. ISBN:978-960-474-403-9. ISSN:2227-4. Ciuna, M., Salvo, F., & Simonotti, M. (2014a). The expertise in the real estate appraisal in Italy. Recent advances in civil engineering and mechanics. In Proceedings of the 5th European Conference of Civil Engineering (ECCIE ‘14) (pp. 120–129). Florence, Italy. November 22–24, 2014. North Atlantic University Union. Series: Mathematics and Computers in Science and Engineering Series, 36. ISBN:978-960-474-403-9. ISSN:2227-4.
Zurück zum Zitat Ciuna, M., Salvo, F., & De Ruggiero, M. (2014b). Property prices index numbers and derived indices. Property management (Vol. 32. Issue. 2, pp. 139–153). doi:(Permanent URL):10.1108/PM-03-2013-0021. Ciuna, M., Salvo, F., & De Ruggiero, M. (2014b). Property prices index numbers and derived indices. Property management (Vol. 32. Issue. 2, pp. 139–153). doi:(Permanent URL):10.​1108/​PM-03-2013-0021.
Zurück zum Zitat Ciuna, M., Salvo, F., & Simonotti, M. (2014c). Multilevel methodology approach for the construction of real estate monthly index numbers. Journal of Real Estate Literature: 2014, 22(2), 281–302. Ciuna, M., Salvo, F., & Simonotti, M. (2014c). Multilevel methodology approach for the construction of real estate monthly index numbers. Journal of Real Estate Literature: 2014, 22(2), 281–302.
Zurück zum Zitat Ciuna M., Salvo F., Simonotti M. (2015b). Compensation appraisal processes for the realization of hydraulic works in an agricultural area. In Proceedings of XLIV INCONTRO DI STUDI Ce.S.E.T. Il danno. Elementi giuridici, urbanistici e economico-estimativi. Bologna, Italy, (pp. 69–82). November 27–28, 2014. ISBN:978-88-99459-21-5. Ciuna M., Salvo F., Simonotti M. (2015b). Compensation appraisal processes for the realization of hydraulic works in an agricultural area. In Proceedings of XLIV INCONTRO DI STUDI Ce.S.E.T. Il danno. Elementi giuridici, urbanistici e economico-estimativi. Bologna, Italy, (pp. 69–82). November 27–28, 2014. ISBN:978-88-99459-21-5.
Zurück zum Zitat Ciuna, M., Salvo, F., & Simonotti, M. (2015c). Parametric measurement of partial damage in building. In Proceedings of XLIV INCONTRO DI STUDI Ce.S.E.T. Il danno. Elementi giuridici, urbanistici e economico-estimativi (pp. 171–188). Bologna, Italy. November 27–28, 2014. ISBN:978-88-99459-21-5. Ciuna, M., Salvo, F., & Simonotti, M. (2015c). Parametric measurement of partial damage in building. In Proceedings of XLIV INCONTRO DI STUDI Ce.S.E.T. Il danno. Elementi giuridici, urbanistici e economico-estimativi (pp. 171–188). Bologna, Italy. November 27–28, 2014. ISBN:978-88-99459-21-5.
Zurück zum Zitat Clapp, J. M. (2003). A semiparametric method for valuing residential locations: Application to automated valuation. The Journal of Real Estate Finance and Economics, 27(Nov. 2003), 303–320. Clapp, J. M. (2003). A semiparametric method for valuing residential locations: Application to automated valuation. The Journal of Real Estate Finance and Economics, 27(Nov. 2003), 303–320.
Zurück zum Zitat Colwell, P. F., Cannady R. E., & Wu C. (1983). The analytical foundations of adjutment grid methods. Journal of the American Real Estate and Urban Economics Association, 11, 11–29. Colwell, P. F., Cannady R. E., & Wu C. (1983). The analytical foundations of adjutment grid methods. Journal of the American Real Estate and Urban Economics Association, 11, 11–29.
Zurück zum Zitat d’Amato, M. (2002). Appraising property with rough set theory. Journal of Property Investment and Finance, 20(4), 406–418. d’Amato, M. (2002). Appraising property with rough set theory. Journal of Property Investment and Finance, 20(4), 406–418.
Zurück zum Zitat d’Amato, M. (2004). A comparison between RST and MRA for mass appraisal purposes. A Case in Bari, International Journal of Strategic Property Management, 8, 205–217. d’Amato, M. (2004). A comparison between RST and MRA for mass appraisal purposes. A Case in Bari, International Journal of Strategic Property Management, 8, 205–217.
Zurück zum Zitat d’Amato, M. (2010). A location value response surface model for mass appraising: An “iterative” location adjustment factor in Bari, Italy. International Journal of Strategic Property Management, 14, 231–244. d’Amato, M. (2010). A location value response surface model for mass appraising: An “iterative” location adjustment factor in Bari, Italy. International Journal of Strategic Property Management, 14, 231–244.
Zurück zum Zitat d’Amato, M. (2013). Man Vs. Machine, Appraisal Buzz, August 13. d’Amato, M. (2013). Man Vs. Machine, Appraisal Buzz, August 13.
Zurück zum Zitat d’Amato, M. (2015). Income approach and property market cycle. International Journal of Strategic Property Management, 29(3), 207–219. d’Amato, M. (2015). Income approach and property market cycle. International Journal of Strategic Property Management, 29(3), 207–219.
Zurück zum Zitat d’Amato, M., & Kauko, T. (2012). Sustainability and risk premium estimation in property valuation and assessment of worth. Building Research and Information, 40(2), 174–185 (March–April 2012). d’Amato, M., & Kauko, T. (2012). Sustainability and risk premium estimation in property valuation and assessment of worth. Building Research and Information, 40(2), 174–185 (March–April 2012).
Zurück zum Zitat Des Rosiers, F., & Thériault, M. (1999) House prices and spatial dependence: Towards an integrated procedure to model neighborhood dynamics, Working Papers, Laval—Faculte des sciences de administration. Des Rosiers, F., & Thériault, M. (1999) House prices and spatial dependence: Towards an integrated procedure to model neighborhood dynamics, Working Papers, Laval—Faculte des sciences de administration.
Zurück zum Zitat Dubin, R. A. (1998). Predicting house prices using multiple listings data. Journal of Real Estate Finance and Economics, 17(1), 35–59.MathSciNetCrossRef Dubin, R. A. (1998). Predicting house prices using multiple listings data. Journal of Real Estate Finance and Economics, 17(1), 35–59.MathSciNetCrossRef
Zurück zum Zitat Eckert, j. (Ed.) (1990). Property appraisal and assessment administration. International Association of Assessing Officers, Chicago, IL. Eckert, j. (Ed.) (1990). Property appraisal and assessment administration. International Association of Assessing Officers, Chicago, IL.
Zurück zum Zitat Eckert, j., O’Connor, P., & Chamberlain, C. (1993). Computer-Assisted real estate appraisal: A california savings and loan case study. The Appraisal Journal, 524–532. Eckert, j., O’Connor, P., & Chamberlain, C. (1993). Computer-Assisted real estate appraisal: A california savings and loan case study. The Appraisal Journal, 524–532.
Zurück zum Zitat Eichenbaum, J. (1989). Incorporating location into computer-assisted valuation. Property TaxJournal, 8(2), 151–169. Eichenbaum, J. (1989). Incorporating location into computer-assisted valuation. Property TaxJournal, 8(2), 151–169.
Zurück zum Zitat Eichenbaum, J. (1995). The location variable in world class cities: Lessons from cama valuation in New York city. Journal of Property Tax Assessment and Administration, 1(3), 46–60. Eichenbaum, J. (1995). The location variable in world class cities: Lessons from cama valuation in New York city. Journal of Property Tax Assessment and Administration, 1(3), 46–60.
Zurück zum Zitat Farber, S., & Yeates, M. (2006). A comparison of localized regression models in a hedonic house price context. Canadian Journal of Regional Science, 29(3), 405–420. Farber, S., & Yeates, M. (2006). A comparison of localized regression models in a hedonic house price context. Canadian Journal of Regional Science, 29(3), 405–420.
Zurück zum Zitat Federal Reserve Second Monetary Policy Report for 2008. (2008). Hearing before the Committee on Banking, Housing and Urban Affairs United States Senate One Hundred Tenth Congress Second Session on Oversight on the Monetary Policy Report to Congress Pursuant to the Full Employment and Balanced Growth Act of 1978. Federal Reserve Second Monetary Policy Report for 2008. (2008). Hearing before the Committee on Banking, Housing and Urban Affairs United States Senate One Hundred Tenth Congress Second Session on Oversight on the Monetary Policy Report to Congress Pursuant to the Full Employment and Balanced Growth Act of 1978.
Zurück zum Zitat Fischer, D. (2003). Multi-criteria analysis of ranking preferences on residential traits. In 10th ERES Conference, Helsinki, Finland, 10–13 June. Fischer, D. (2003). Multi-criteria analysis of ranking preferences on residential traits. In 10th ERES Conference, Helsinki, Finland, 10–13 June.
Zurück zum Zitat Fitch. (2007). Criteria for automated valuation models in the UK, 22nd May Fitch. (2007). Criteria for automated valuation models in the UK, 22nd May
Zurück zum Zitat Fitch. (2008). Criteria for automated valuation models in EMEA RMBS; Addendum criteria for automated valuation models in EMEA RMBS, 20th November Fitch. (2008). Criteria for automated valuation models in EMEA RMBS; Addendum criteria for automated valuation models in EMEA RMBS, 20th November
Zurück zum Zitat Fitch. (2011). Criteria for automated valuation models in EMEA RMBS; Automated valuation models in EMEA RMBS, Special Report, 12th August Fitch. (2011). Criteria for automated valuation models in EMEA RMBS; Automated valuation models in EMEA RMBS, Special Report, 12th August   
Zurück zum Zitat Fletcher, M., Gallimore, P., & Mangan, J. (2000). Heteroscedasticity in hedonic house price models. Journalof Property Research, 17, 93–108. CrossRef Fletcher, M., Gallimore, P., & Mangan, J. (2000). Heteroscedasticity in hedonic house price models. Journalof Property Research, 17, 93–108. CrossRef
Zurück zum Zitat Francke, M. (2008). The hierarchical trend model. In Kauko, T., & d’Amato, M. (eds) Mass appraisal an international perspective for property valuers. Wiley Blackwell, London. Francke, M. (2008). The hierarchical trend model. In Kauko, T., & d’Amato, M. (eds) Mass appraisal an international perspective for property valuers. Wiley Blackwell, London.
Zurück zum Zitat Gallimore, P., Fletcher, M., & Carter, M. (1996). Modelling the influence of location on value. Journal of Property Valuation and Investment, 14(1). Gallimore, P., Fletcher, M., & Carter, M. (1996). Modelling the influence of location on value. Journal of Property Valuation and Investment, 14(1).
Zurück zum Zitat Gat D. (1996). A compact hedonic model of the greater tel aviv housing market. 4(2) 162–172. Gat D. (1996). A compact hedonic model of the greater tel aviv housing market. 4(2) 162–172.
Zurück zum Zitat Gonzalez. M. A. S., Soiberman, L., & Formoso, C.T. (2002). Explaining results in a neural-mass appraisal model. In 9th European Real Estate Society Conference (ERES). Gonzalez. M. A. S., Soiberman, L., & Formoso, C.T. (2002). Explaining results in a neural-mass appraisal model. In 9th European Real Estate Society Conference (ERES).
Zurück zum Zitat Goodman, A. C., & Thibodeau, T. G. (1998). Housing market segmentation. Journal of Housing Economics, 7, 121–143.CrossRef Goodman, A. C., & Thibodeau, T. G. (1998). Housing market segmentation. Journal of Housing Economics, 7, 121–143.CrossRef
Zurück zum Zitat Griliches, Z. (1971). Hedonic prices indexes revisited, in prices indexes and quality change, federal reserve board, Massachuttes, pp. 3–15. Griliches, Z. (1971). Hedonic prices indexes revisited, in prices indexes and quality change, federal reserve board, Massachuttes, pp. 3–15.
Zurück zum Zitat Harvey J. (1996). Urban land economics: The economics of real property markets, London, Macmillan. Harvey J. (1996). Urban land economics: The economics of real property markets, London, Macmillan.
Zurück zum Zitat Hoesli, M., Giacotto, C., & Favarger, P. (1997a). Three new real estate price for geneva. Switzerland Journal of Real Estate Finance and Economics, 15(1), 93–109. Hoesli, M., Giacotto, C., & Favarger, P. (1997a). Three new real estate price for geneva. Switzerland Journal of Real Estate Finance and Economics, 15(1), 93–109.
Zurück zum Zitat Hoesli, M., Thion, B., & Watkins, C. (1997b). A hedonic investigation of the rental value of apartments in central bordeaux. Journal of Property Research,14, 15–26. Hoesli, M., Thion, B., & Watkins, C. (1997b). A hedonic investigation of the rental value of apartments in central bordeaux. Journal of Property Research,14, 15–26.
Zurück zum Zitat Home Valuation Code of Conduct. (2008). Chapter I Appraisal Indipendence Safeguards. Home Valuation Code of Conduct. (2008). Chapter I Appraisal Indipendence Safeguards.
Zurück zum Zitat IAAO. (2003). Automatic valuation Standards. IAAO. (2003). Automatic valuation Standards.
Zurück zum Zitat Kaklauskas, A., Zavadskas, E. K., Kazokaitis, P., Bivainis, J., Galiniene, B., d’Amato, M., et al. (2012). Crisis Management Model and Recommended System for Construction and Real Estate. In R. Katarzyniak & G.-S. Jo (Eds.), Ngoc Thanh Nguyen, Bogdan Trawi´nski (pp. 333–343). Advanced Methods for Computational Collective Intelligence in Studies in Computational Intelligence Series edited by Janusz Kacprzyk: Springer Verlag Berlin. Kaklauskas, A., Zavadskas, E. K., Kazokaitis, P., Bivainis, J., Galiniene, B., d’Amato, M., et al. (2012). Crisis Management Model and Recommended System for Construction and Real Estate. In R. Katarzyniak & G.-S. Jo (Eds.), Ngoc Thanh Nguyen, Bogdan Trawi´nski (pp. 333–343). Advanced Methods for Computational Collective Intelligence in Studies in Computational Intelligence Series edited by Janusz Kacprzyk: Springer Verlag Berlin.
Zurück zum Zitat Kang, H.-B., & Reichert, A. (1991). An empirical analysis of hedonic regression and grid-adjustment techniques in real estate appraisal. AREUEA Journal, 19(1), 70–91. Kang, H.-B., & Reichert, A. (1991). An empirical analysis of hedonic regression and grid-adjustment techniques in real estate appraisal. AREUEA Journal, 19(1), 70–91.
Zurück zum Zitat Kauko, J. T. (2002). Modelling the locational determinants of house prices: Neural network and value tree approaches. Utrecht, The Netherland: Labor Graphimedia. Kauko, J. T. (2002). Modelling the locational determinants of house prices: Neural network and value tree approaches. Utrecht, The Netherland: Labor Graphimedia.
Zurück zum Zitat Kauko, T., & d’Amato, M. (2011). Neighbourhood effect, International encyclopedia of housing and home, Edited by Elsevier Publisher. Kauko, T., & d’Amato, M. (2011). Neighbourhood effect, International encyclopedia of housing and home, Edited by Elsevier Publisher.
Zurück zum Zitat Leishman, C. (2009). Spatial change and the structure of urban housing sub-markets. Housing Studies, 24(5), 563–585.CrossRef Leishman, C. (2009). Spatial change and the structure of urban housing sub-markets. Housing Studies, 24(5), 563–585.CrossRef
Zurück zum Zitat Lentz, G. H., & Wang, K. (1998). Residential appraisal and the lending process: A survey of issues. Journal of Real Estate Research, 15, 11–39. Lentz, G. H., & Wang, K. (1998). Residential appraisal and the lending process: A survey of issues. Journal of Real Estate Research, 15, 11–39.
Zurück zum Zitat Malpezzi, S. (2003). Hedonic pricing models: A selective and applied review. In T. O’Sullivan & K. Gibb (Eds.), Housing Economics and Public Policy (pp. 67–89). Oxford: Blackwell. Malpezzi, S. (2003). Hedonic pricing models: A selective and applied review. In T. O’Sullivan & K. Gibb (Eds.), Housing Economics and Public Policy (pp. 67–89). Oxford: Blackwell.
Zurück zum Zitat Mark, J., & Goldberg, M. (1988). Multiple regression analysis and mass assessment: A review of the issues. Appraisal Journal, 56, 89–109. Mark, J., & Goldberg, M. (1988). Multiple regression analysis and mass assessment: A review of the issues. Appraisal Journal, 56, 89–109.
Zurück zum Zitat McCluskey, W., Deddis, W., McBurney, R. D., Mannis, A., & Borst, R. (1997). Interactive application of computer assisted mass appraisal and geographic information systems. Journal of Property Valuation and Investment, 15, 448–465. McCluskey, W., Deddis, W., McBurney, R. D., Mannis, A., & Borst, R. (1997). Interactive application of computer assisted mass appraisal and geographic information systems. Journal of Property Valuation and Investment, 15, 448–465.
Zurück zum Zitat McCluskey W.J., & Anand, S. (1999). The application of intelligent hybrid techniques for the mass appraisal of residential properties. Journal of Property Investment and Finance, 17(3), 218–238. McCluskey W.J., & Anand, S. (1999). The application of intelligent hybrid techniques for the mass appraisal of residential properties. Journal of Property Investment and Finance, 17(3), 218–238.
Zurück zum Zitat McCluskey W.J., Deddis, W.G., Lamont, I., & Borst R.A. (2000). The Application of surface generate interpolate models for the prediction of residential property values. Journal of Property Investment and Finance, 18(2), 162–176. McCluskey W.J., Deddis, W.G., Lamont, I., & Borst R.A. (2000). The Application of surface generate interpolate models for the prediction of residential property values. Journal of Property Investment and Finance, 18(2), 162–176.
Zurück zum Zitat Miller, N.G. (1982). Residential property hedonic price models: A Review. In Sirmans C.F. (ed), Urban Housing Markets and Property Valuation. Research in Real Estate, Vol. 2, (pp. 31–56). Jai Press Inc. Greenwich, CT. Miller, N.G. (1982). Residential property hedonic price models: A Review. In Sirmans C.F. (ed), Urban Housing Markets and Property Valuation. Research in Real Estate, Vol. 2, (pp. 31–56).                        Jai Press Inc. Greenwich, CT.
Zurück zum Zitat Mok H.M.K., Chan K.P.P., & Yin-Sun Cho. (1995). A hedonic price model for private properties in hong kong. Journal of Real Estate Finance and Economics, 10(1), 37–48. Mok H.M.K., Chan K.P.P., & Yin-Sun Cho. (1995). A hedonic price model for private properties in hong kong. Journal of Real Estate Finance and Economics, 10(1), 37–48.
Zurück zum Zitat Moody’s. (2008). Moody’s approach to automated valuation models in rating UK RMBS, 21st August Moody’s. (2008). Moody’s approach to automated valuation models in rating UK RMBS, 21st August
Zurück zum Zitat Nguyen, N., & Cripps, Al. (2001). Predicting housing value: A comparison of multiple regression analysis and artificial neural network. Journal of Real Estate Research, 22(3). Nguyen, N., & Cripps, Al. (2001). Predicting housing value: A comparison of multiple regression analysis and artificial neural network. Journal of Real Estate Research, 22(3).                                                                                                                                               
Zurück zum Zitat O’Connor, P. (1982). Locational valuation derived directly from the real estate market with the assistance of response surface techniques. Lincoln Institute of Land Policy. O’Connor, P. (1982). Locational valuation derived directly from the real estate market with the assistance of response surface techniques. Lincoln Institute of Land Policy.                                                                                                                                               
Zurück zum Zitat Orford, S. (1999). Valuing the built environment: GIS and house price analysis. Aldershot: Ashgate. Orford, S. (1999). Valuing the built environment: GIS and house price analysis. Aldershot: Ashgate.                                                                                                           
Zurück zum Zitat Pace, R.K., & Gilley O.W. (1998). Generalizing the OLS and grid estimators. Real Estate Economics, 26(2), 331–347. Pace, R.K., & Gilley O.W. (1998). Generalizing the OLS and grid estimators. Real Estate Economics, 26(2), 331–347.
Zurück zum Zitat Quintos, C. (2013). Spatial weight matrices and their use as baseline values and location—adjustment factors in property assessment models. Cityscape, 15(3), 295–306. Quintos, C. (2013). Spatial weight matrices and their use as baseline values and location—adjustment factors in property assessment models. Cityscape, 15(3), 295–306.
Zurück zum Zitat Renigier-Biłozor, M., & Biłozor, A. (2016). Proximity and propinquity of residential market area—Polish and Italian case study. In 16th International Multidisciplinary Scientific GeoConferences SGEM. Bułgaria. (web of science). Renigier-Biłozor, M., & Biłozor, A. (2016). Proximity and propinquity of residential market area—Polish and Italian case study. In 16th International Multidisciplinary Scientific GeoConferences SGEM. Bułgaria. (web of science).
Zurück zum Zitat Renigier-Biłozor, M., & Biłozor, A. (2016). The use of geoinformation in the process of shaping a safe space. In 16th International Multidisciplinary Scientific GeoConferences SGEM Bułgaria. Renigier-Biłozor, M., & Biłozor, A. (2016). The use of geoinformation in the process of shaping a safe space. In 16th International Multidisciplinary Scientific GeoConferences SGEM Bułgaria.
Zurück zum Zitat Renigier-Biłozor, M., Wiśniewski, R., Biłozor, A., Kaklauskas, A. (2014). Rating methodology for real estate markets—Poland case study. Pub. International Journal of Strategic Property Management, 18(2), 198–212. ISNN:1648-715X. Renigier-Biłozor, M., Wiśniewski, R., Biłozor, A., Kaklauskas, A. (2014). Rating methodology for real estate markets—Poland case study. Pub. International Journal of Strategic Property Management, 18(2), 198–212. ISNN:1648-715X.
Zurück zum Zitat Renigier-Biłozor, M., Dawidowicz, A., & Radzewicz, A. (2014b). An algorithm for the purposes of determining the real estate markets efficiency in Land Administration System. Public Survey Review, 46(336), 189–204.CrossRef Renigier-Biłozor, M., Dawidowicz, A., & Radzewicz, A. (2014b). An algorithm for the purposes of determining the real estate markets efficiency in Land Administration System. Public Survey Review, 46(336), 189–204.CrossRef
Zurück zum Zitat RICS. (2012). Comparable Evidence in Property Valuation. RICS Information Paper. RICS. (2012). Comparable Evidence in Property Valuation. RICS Information Paper.
Zurück zum Zitat RICS. (2013). Automated valuation models (1st Ed.), RICS Information Paper. RICS. (2013). Automated valuation models (1st Ed.), RICS Information Paper.
Zurück zum Zitat Robson, G., & Downie, M. L. (2009). Integrating valuation models with valuation services to meet the need of borrowers lenders and valuers, findings in built and rural environments, November, (pp. 3–10). Robson, G., & Downie, M. L. (2009). Integrating valuation models with valuation services to meet the need of borrowers lenders and valuers, findings in built and rural environments, November, (pp. 3–10).
Zurück zum Zitat Robinson, R. (1979). Housing economy and public policy. London, MacMillan. Robinson, R. (1979). Housing economy and public policy. London, MacMillan.
Zurück zum Zitat Rosen S. (1974). Hedonic prices and implicit markets: Product differentiation in pure competition. The Journal of Political Economy, 82, 34–55. Rosen S. (1974). Hedonic prices and implicit markets: Product differentiation in pure competition. The Journal of Political Economy, 82, 34–55.
Zurück zum Zitat Salvo, F., & De Ruggiero, M. (2011). Misure di similarità negli adjustment grid methods. AESTIMUM, 58, 47–58, ISSN:1592-6117. Salvo, F., & De Ruggiero, M. (2011). Misure di similarità negli adjustment grid methods. AESTIMUM, 58, 47–58, ISSN:1592-6117.
Zurück zum Zitat Salvo, F., & De Ruggiero, M. (2013). Market comparison approach between tradition and innovation. A simplifying approach. AESTIMUM, 62, 585–594, ISSN:1592-6117. Salvo, F., & De Ruggiero, M. (2013). Market comparison approach between tradition and innovation. A simplifying approach. AESTIMUM, 62, 585–594, ISSN:1592-6117.
Zurück zum Zitat Salvo, F., Ciuna, M., & d’Amato, M. (2013a). Appraising building area’s index numbers using repeat values model. A case study in Paternò (CT). In Dynamics of land values and agricultural policies (pp. 63–71), Bologna: Medimond International Proceedings, Editografica. ISBN:978-88-7587-690-6, Palermo, 22–23/11/2012. Salvo, F., Ciuna, M., & d’Amato, M. (2013a). Appraising building area’s index numbers using repeat values model. A case study in Paternò (CT). In Dynamics of land values and agricultural policies (pp. 63–71), Bologna: Medimond International Proceedings, Editografica. ISBN:978-88-7587-690-6, Palermo, 22–23/11/2012.
Zurück zum Zitat Salvo, F., Ciuna, M., & d’Amato, M. (2013b). The appraisal smoothing in the real estate indices. In (a cura di): Maria Crescimanno, Leonardo Casini and Antonino Galati, Dynamisc of land values agricultural policies (pp. 99–111), Bologna: Medimond Monduzzi Editore International Proceeding Division. ISBN:978-88-7587-690-6, Palermo, 22–23/11/2012. Salvo, F., Ciuna, M., & d’Amato, M. (2013b). The appraisal smoothing in the real estate indices. In (a cura di): Maria Crescimanno, Leonardo Casini and Antonino Galati, Dynamisc of land values agricultural policies (pp. 99–111), Bologna: Medimond Monduzzi Editore International Proceeding Division. ISBN:978-88-7587-690-6, Palermo, 22–23/11/2012.
Zurück zum Zitat Salvo, F., De Ruggiero, M., Ciuna, M. (2014). Property prices index numbers and derived indices. Property Management, 32, 139–153. ISSN:0263-7472, doi:10.1108/PM-03-2013-0021. Salvo, F., De Ruggiero, M., Ciuna, M. (2014). Property prices index numbers and derived indices. Property Management, 32, 139–153. ISSN:0263-7472, doi:10.​1108/​PM-03-2013-0021.
Zurück zum Zitat Salvo, F., De Ruggiero, M., & Zupi, M. (2015). The valorization of public real estate. A first outcome of the experiences in progress and a methodological proposal. In XLIII INCONTRO DI STUDI Ce.S.E.T. Sviluppo economico e nuovi rapporti tra agricoltura, territorio e ambiente (Vol. 67, pp. 135–146). AESTIMUM, FIRENZE: Firenze University Press, ISSN:1592-6117, Verona, 21/23 November 2013. Salvo, F., De Ruggiero, M., & Zupi, M. (2015). The valorization of public real estate. A first outcome of the experiences in progress and a methodological proposal. In XLIII INCONTRO DI STUDI Ce.S.E.T. Sviluppo economico e nuovi rapporti tra agricoltura, territorio e ambiente (Vol. 67, pp. 135–146). AESTIMUM, FIRENZE: Firenze University Press, ISSN:1592-6117, Verona, 21/23 November 2013.
Zurück zum Zitat Salvo, F., Ciuna, M., & Simonotti, M. (2015). Compensation appraisal processes for completion of hydraulic works in an agricultural area. In (a cura di) Alessandra Castellini Lucia Devenuto, Proceedings of XLIV INCONTRO DI STUDI Ce.S.E.T. Il danno. Elementi giuridici, urbanistici e economico-estimativi (pp. 69–82), Mantova: Universitas Studiorum S.r.l., Bologna, 27/28 November 2014. Salvo, F., Ciuna, M., & Simonotti, M. (2015). Compensation appraisal processes for completion of hydraulic works in an agricultural area. In (a cura di) Alessandra Castellini Lucia Devenuto, Proceedings of XLIV INCONTRO DI STUDI Ce.S.E.T. Il danno. Elementi giuridici, urbanistici e economico-estimativi (pp. 69–82), Mantova: Universitas Studiorum S.r.l., Bologna, 27/28 November 2014.
Zurück zum Zitat Salvo, F., Simonotti, M., & Ciuna, M. (2015). Multilevel methodology approach for the construction of real estate monthly index numbers. Journal of Real Estate Literature, 22, 281–302. ISSN:0927-7544. Salvo, F., Simonotti, M., & Ciuna, M. (2015). Multilevel methodology approach for the construction of real estate monthly index numbers. Journal of Real Estate Literature, 22, 281–302. ISSN:0927-7544.
Zurück zum Zitat Silverherz, J. D. (1936). The assessment of real property in the United States. Albany: J.B. Lyon Co. Printers. Silverherz, J. D. (1936). The assessment of real property in the United States. Albany: J.B. Lyon Co. Printers.
Zurück zum Zitat Simonotti, M., Salvo, F., & Ciuna, M. (2015). Appraisal value and assessed value in Italy. International Journal of Economics and Statistics, 3, 24–31. ISSN:2309-0685. Simonotti, M., Salvo, F., & Ciuna, M. (2015). Appraisal value and assessed value in Italy. International Journal of Economics and Statistics, 3, 24–31. ISSN:2309-0685.
Zurück zum Zitat Standard and Poor’s (2004). Guidelines for the use of automated valuation models for U.K. RMBS transactions, 20th February. Standard and Poor’s (2004). Guidelines for the use of automated valuation models for U.K. RMBS transactions,  20th February.
Zurück zum Zitat Standard and Poor’s (2005). Guidelines for the use of automated valuation models for U.K. RMBS transactions, 26th September. Standard and Poor’s (2005). Guidelines for the use of automated valuation models for U.K. RMBS transactions, 26th September.
Zurück zum Zitat Ward, R. D., Guilford, J., Jones, B., Pratt, D., & German, J. C. (2002). Piecing together location: Three studies by the Lucas County research and development staff. Assessment Journal, 9(5), 15–48. Ward, R. D., Guilford, J., Jones, B., Pratt, D., & German, J. C. (2002). Piecing together location: Three studies by the Lucas County research and development staff. Assessment Journal, 9(5), 15–48.
Zurück zum Zitat Wilhelmsson, M. (2002). Spatial models in real estate economics. Housing Theory and Society, 19, 92–101. Wilhelmsson, M. (2002). Spatial models in real estate economics. Housing Theory and Society, 19, 92–101.
Zurück zum Zitat Worzala, E., Lenk, M., & Silva, A. (1995). An exploration of neural networks and its application to real estate valuation. The Journal of Real Estate Research, 10(2), 185–201. Worzala, E., Lenk, M., & Silva, A. (1995). An exploration of neural networks and its application to real estate valuation. The Journal of Real Estate Research, 10(2), 185–201.
Metadaten
Titel
A Brief Outline of AVM Models and Standards Evolutions
verfasst von
Maurizio d’Amato
Copyright-Jahr
2017
DOI
https://doi.org/10.1007/978-3-319-49746-4_1

Premium Partner