Browsing by Subject "real estate"
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Item Open Access Daily House Price Indexes: Construction, Modeling, and Longer-Run Predictions(Economic Research Initiatives at Duke (ERID), 2013-06-11) Bollerslev, T; Patton, AJ; Wang, WWe construct daily house price indexes for ten major U.S. metropolitan areas. Our calculations are based on a comprehensive database of several million residential property transactions and a standard repeat-sales method that closely mimics the procedure used in the construction of the popular monthly Case-Shiller house price indexes. Our new daily house price indexes exhibit similar characteristics to other daily asset prices, with mild autocorrelation and strong conditional heteroskedasticity, which are well described by a relatively simple multivariate GARCH type model. The sample and model-implied correlations across house price index returns are low at the daily frequency, but rise monotonically with the return horizon, and are all commensurate with existing empirical evidence for the existing monthly and quarterly house price series. A simple model of daily house price index returns produces forecasts of monthly house price changes that are superior to various alternative forecast procedures based on lower frequency data, underscoring the informational advantages of our new more finely sampled daily price series.Item Open Access Financially Viable Sustainability Solutions in Multifamily Residential Properties(2018-04-27) Long, Adam; Walker, ColinDrucker and Falk is a family-owned real estate company that focuses on third-party fee management of multifamily properties. Through isolated LED retrofit projects, Drucker and Falk realized the environmental and financial benefits of sustainability projects and is now seeking to implement financially viable sustainability solutions for its whole portfolio of more than 350 properties. In order to provide solutions that work for all Drucker and Falk properties, this study created a best practices guide and interactive Excel-based models that Drucker and Falk can use to identify and analyze potential sustainability strategies. This project then conducted case studies, applying the provided tools to three Drucker and Falk properties in order to demonstrate the process and benefits of increased sustainability practices. The case studies revealed potential environmental benefits and cost savings in utility bill management, lighting retrofits, pool pump alterations, and future building design. The tools provided by this project, along with the case study findings, will be used as a foundation for additional analysis and implementation of sustainability projects across the entire Drucker and Falk portfolio.