Advances in Automated Valuation Modeling: AVM After the Non-Agency Mortgage Crisis

In: Studies in Systems, Decision and Control v.86

In: Studies in Systems, Decision and Control Ser. v.86

Abstract

Intro -- Foreword -- Preface -- Contents -- Editors and Contributors -- Acronyms -- List of Figures -- List of Tables -- AVM, Valuation and Non-Agency Mortgage Crises: AVM, Mortgage Crises and Valuation in Person -- 1 A Brief Outline of AVM Models and Standards Evolutions -- Abstract -- 1 Introduction -- 2 AVM Models Evolution. A Brief Overview -- 3 AVM Standards Evolution. An Introductory Outline -- 4 Conclusion -- References -- 2 Appraisal Methods and the Non-Agency Mortgage Crisis -- Abstract -- 1 Introduction -- 2 A Glance at the 2008 Crisis -- 3 The Role of Property Valuation Methods Herein -- 4 Final Remarks -- References -- 3 Automated Valuation Models and Economic Theory -- Abstract -- 1 Introduction -- 2 Automated Valuation Models and Economic Theory -- 2.1 The Neoclassical Synthesis -- 2.2 Neoclassical Economic Theory of the Market -- 2.3 Rational Choice -- 2.4 Full Information -- 2.5 Equilibrium -- 2.6 The Neoclassical Perfect Market -- 2.7 Neoclassical Economics, Valuation Theory and AVMs -- 3 The Theory and Methodology of AVMs -- 3.1 The Marginalist Revolution -- 3.2 Methodology of Automated Valuation Models -- 3.2.1 A Positivist Methodology and the Covering-Law Model -- 3.3 The Regression Function as General Law -- 4 Contrasting AVMs and Traditional Valuation Methods -- 4.1 AVMs, Neoclassical Theory and the Non-agency Mortgage Crisis -- 5 AVMs for All Seasons? Concluding Remarks -- References -- AVM, Valuation and Non-Agency Mortgage Crises: Experiences in AVM -- 4 Automated Valuation Models for the Granting of Mortgage Loans in Germany -- Abstract -- 1 Introduction -- 2 Valuation for the Granting of Mortgage Loans -- 3 A Few Statistics on Market Size -- 4 Selection of Valuation Method -- 4.1 Preliminary Remarks -- 5 Owner-Occupied Houses -- 6 Condominium Apartments -- 7 Income Capitalisation Approach -- 7.1 Basic Principles.