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Articles 1 - 6 of 6

Full-Text Articles in Real Estate

Corporate Real Estate Joint Ventures And Security Price Performance, John B. Corgel, Ronald C. Rogers Oct 1987

Corporate Real Estate Joint Ventures And Security Price Performance, John B. Corgel, Ronald C. Rogers

Articles and Chapters

The results of a study are detailed to explain that the announcement of a real estate development joint venture is associated with no significant share price reaction. A sampling of 24 joint ventures is identified and analyzed using standard event study methods.


Local Economic Base, Geographic Diversification, And Risk Management Of Mortgage Portfolios, John B. Corgel, Gerald D. Gay Oct 1987

Local Economic Base, Geographic Diversification, And Risk Management Of Mortgage Portfolios, John B. Corgel, Gerald D. Gay

Articles and Chapters

Variability of local economic conditions underlie, in part, the default and prepayment risks of mortgages originated in a metropolitan area. In this study we examine the benefits of diversifying across metropolitan areas for reducing these risks. Employment data for the thirty largest metropolitan areas in the United States, divided into eight industry groups, are analyzed with the aid of factor and principal component analysis to determine if the variances of employment changes across the thirty areas are independent. Independence is investigated to assess the potential for diversification. Mean-variance portfolio analysis is then used to measure the gains from geographic diversification ...


Price Adjustment Process For Rental Office Space, James D. Shilling, C. F. Sirmans, John B. Corgel Jul 1987

Price Adjustment Process For Rental Office Space, James D. Shilling, C. F. Sirmans, John B. Corgel

Articles and Chapters

This paper analyzes the price adjustment process for rental office space in 17 cities across the United States over the time period 1960 to 1975. The results confirm much of what economic theory suggests. Landlords react to fluctuations in demand by building up or drawing down inventories of unlet or vacant office space. Other things equal, higher levels of vacant office space mean that landlords lower their rents and reduce the difference between desired and actual vacancies. Empirical evidence is also presented on the normal vacancy rate across different cities.


Financial Planning For Real Estate Production Decisions, Colin Balogh, John B. Corgel, Gregg Logan Apr 1987

Financial Planning For Real Estate Production Decisions, Colin Balogh, John B. Corgel, Gregg Logan

Articles and Chapters

Recently, the production and service components of the real estate business have evolved from collections of mom and pop operations to full-fledged industries comprised of highly competitive, small and medium-sized firms. This evolution to larger-scale business operations has important implications for the type of financial analysis to be conducted by real estate firms in the future. Specifically, the traditional project-specific financial analysis of real estate investment opportunities will be subsumed by strategic financial planning for real estate decisions at the firm level. Even with a radical change in emphasis and interpretation, the discounted cash flow tradition, firmly established in project-specific ...


Occupational Boundary Setting And The Unauthorized Practice Of Law By Real Estate Brokers, John B. Corgel Jan 1987

Occupational Boundary Setting And The Unauthorized Practice Of Law By Real Estate Brokers, John B. Corgel

Articles and Chapters

Real estate brokers and lawyers have been engaged in a longstanding "boundary dispute" over which activities brokers can perform in real estate transactions without engaging in unauthorized practices of law. In general, state court decisions have lacked uniformity and no universal standard has emerged for making unauthorized practice of law determinations, some broker activities have been found to be clearly unauthorized practices while others have not surfaced as issues in these cases. This paper examines the manner in which courts have resolved jurisdictional disputes between licensed lawyers and licensed real estate brokers and considers whether the precedents established have tended ...


Illustrations Of Financing And Tax Transfers In Owner Financed Real Estate Sales, James Ang, Raymond Chiang Jan 1987

Illustrations Of Financing And Tax Transfers In Owner Financed Real Estate Sales, James Ang, Raymond Chiang

Articles and Chapters

The dramatic increase in seller or creative financing in the late 1970s and early 1980s has captured the attention of many academicians and practitioners. The primary focus in the existing literature is on explaining differences in loan terms between creative financing and conventional financing and on how these differences are capitalized into sale prices. This paper investigates the role of financing opportunity costs and federal income taxation and their consequences on real estate financing. Illustrations of the model show the feasibility of interpersonal financing transfers (between buyers and sellers) and intertemporal tax transfers (across time periods).