Epsom Case

(e) Is there a significant relationship between the selling price and the assessed value of the house? Use 5 % level of significance.

First of all, from 2008 to 2015, property prices of all capital cities in Australia have increased rapidly. People have had obsession with buying houses. At the same time,

According to Trulia and Zillow, one house that is being sold in Crow Creek has the size of 1,906 square feet, and one house that is being sold around Gains Street has the size of 2,900 square feet. As you can see, even sometimes the houses that are being sold around Gains Street can be possibly larger than the ones that are being sold in Crow Creek. The homes in Crow Creek were built with expensive, smooth, and colorful brick, which were ordered by upper income people. In similar fashion, the homes surrounding Gains Street also contained these smooth and colorful bricks. These bricks might not be as expensive, however they appeared to be similar in texture and color. Second of all, even though that both of these neighborhoods contained abnormally large homes, doesn’t mean that they were up kept the same way. My friends and I could clearly tell the difference on which homes were annual and daily cleaned as well as trimmed. The living quarters that were over in Crow Creek were obviously kept up daily considering that the each and every one of them had flowers in front of them. They had also made sure no trees or untrimmed bushes were blocking the views from the street to their beautiful homes. Despite having a similar structure of houses around Gains Street and Crow Creek, Gains Street had houses that were not being annual and daily cleaned as well as trimmed. My friends and I could absolutely point out

Two economic factors affect supply in a stable housing market, price of related goods or similar houses, and the price of the good, best represented by style or size in the case of the housing market. The affluence of a community typically determines how much homes sell for in those communities, and therefore communities where a lot of people want to live become areas where average home prices are high. (Kumar, 1) There is little space in these affluent communities, and therefore little supply. A good example is New York City, where no homes are available, only apartment buildings, and very few apartments are actively exchanged each year.

This case involves an investigation of the factors that affect the sale price of Oceanside condominium units. It represents an extension of an analysis of the same data by Herman Kelting (1979). Although condo sale prices have increased dramatically over the past 20 years, the relationship between these factors and sale price remain about the same. Consequently, the data provide valuable insight into today’s condominium sales market.

This case investigates the factors that are affecting the sale price of Oceanside condominium units. The relationship between these factors and sale price has remained the same despite condo sale prices increasing drastically over the past 20 years.

The t a/2 value is 2.11, which represents 17 degrees of freedom and the corresponding to .025 for the area in the upper tail of the distribution curve (Anderson, Sweeney, Williams, Camm, & Cochran, 2015). For the average sales price, the standard deviation was 42.669 and the square root of number of samples (n) is 4.243. Therefore, 205.528 +/- 2.11 * (42.669/4.243) = [184.307,226.748]. One can conclude 95% confidence that the mean sales price for the No View condominiums is between $184.307k and

Considering the mean of the log house prices in a postcode as the key price variable, with another crucial measure of the housing market; the log of the number of sales in a postcode in the given year. Correlating the suburbs data by the distance between their centroid with the help of FindMap Pty Ltd. was done (Davidoff & Leigh, 2013).

In order to answer this question we first have to consider whether the value provided to the commercial and residential markets is the same. While it may look like the value is similar, upon closer inspection, we can identify an important distinction between the values provided to the two markets:

As RMS has indicated before, based on our observations and more importantly on the review of assets during our weekly calls with Altisource, RMS believes on many of these assets, the condition or location of the property is a primary driver behind not only the large reduction in list price, but ultimately a sales price that will be well below the initial list price, all of which contribute to extended days on market and an increase in carrying costs incurred by the Trust. We believe a contributor to this relates to the Altisource process where the listing agent is not always local to the property and may not have not personally visited the asset to assess the condition and the location, has not driven by the comps and generally may not be familiar with the intricacies of different neighborhoods in the area.

In this report, the question “How much of the changes in the median selling price of homes in a city can be explained by the changes in median income of that city?” is answered. Home ownership is an important aspect of one’s life stages, and home prices are determined by demand and supply. The demand curve is affected by the one’s income, such that as one’s income increases, one is more willing to pay a higher price for the same quantity of goods (Baye & Prince, 2014). However, there are many other factors that might affect the demand curve, e.g. no. of children, in the household, the perceived quality of education in the school district, or the number of job positions (filled or open) around the city. According to Burda

The data for the second test to be conducted by our group consists of lot sizes of the residential properties that are up for sale in Toronto and Vancouver. The samples are represented in m2 (metres squared; area of the land in which the residential properties are built on). The data taken are based on the properties that are up for

The difference in asking and selling price could be correlated with the number of days on the market and very similar reasoning as to why it is a weak variable. The seller will most likely not allow much difference in their asking and selling price because of the appraised value. Also, looking at the coefficients of these two variables, I can see that change in them do not impact the price very much. The number of bedrooms is not a significant characteristic because it is correlated with the square footage. It seems a little odd that the number of garages is insignificant. However, the mean number of garages for this data is above one, meaning the average house in Blowing Rock has at least one garage. With a garage being fairly standard amenity for homes in Blowing Rock I can understand it not being a very significant factor on the price compared to the other characteristics. Living in a subdivision is not significant for this town as well.

Based on our observations and more importantly on the review of assets during our weekly calls with Altisource, RMS believes on many of these assets, the condition and/or location of the property is a primary driver behind not only the large reduction in list price, but ultimately a sales price that will be well below the initial list price, all of which contribute to extended days on market and an increase in carrying costs incurred by the Trust. We believe a contributor to this relates to the Altisource process where the “listing agent” may not always be local to the property and may not have not personally visited the asset to assess the condition and the location, has not driven by the comps and generally may not be familiar with the intricacies of different neighborhoods in the area.

This report examines the housing affordability crisis in Auckland, the current situation of the housing market, and extent of this problem. Auckland is in a deficit of houses due to the difference in demand and supply factors. The demographic and economic factors are the main reason for the increase in demand for houses. The supply side is not performing up to the mark to satisfy the demand in the market. The first home buyers are finding difficulties to make choice on their housing needs. The median households are struggling with the high rentals in Auckland market. Lower income households with faces a greater affordability pressures than those are living outside Auckland. There is a shortage in land and houses that are affordable for lower income households. The report suggests some new factors that can be considered to solve the affordability crisis.