In rapidly moving but thinly traded real estate markets, attempts at valuation using traditional or ‘first generation’ approaches can be problematic. Fortunately, other valuation models are available. This manuscript demonstrates the use of an economic model, including unemployment rates and vacancy rates, to value downtown land over time.
Authors: Bill Mundy and John A. Kilpatrick
Originally published in Real Estate Issues, Vol. 25, No. 3 (Fall 2000)