Real Estate Finance: Theory and Practice 6/e (絕)
- 20本以上，享 8.5折
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- 一般書籍
- ISBN：9780324787368
- 作者：Terrence M. Clauretie
- 版次：6
- 年份：2010
- 出版商：Cengage Learning
書籍介紹
本書特色
目錄
作者介紹
Description
The core of this text is based on sound economic and finance principles to promote a greater understanding of how real estate financial markets work. The authors blend theory with practice applying the theoretical aspects of financial economics to explain how real estate financial institutions and markets have developed and evolved to their present state, and why they take the forms they do. Dramatic changes in the real estate financial markets and the impact of major federal legislation that applies to real estate finance (especially residential) are addressed. Direct application using ARGUSR software makes this book extremely hands on giving students practical, real-world experience in real estate analysis.
The core of this text is based on sound economic and finance principles to promote a greater understanding of how real estate financial markets work. The authors blend theory with practice applying the theoretical aspects of financial economics to explain how real estate financial institutions and markets have developed and evolved to their present state, and why they take the forms they do. Dramatic changes in the real estate financial markets and the impact of major federal legislation that applies to real estate finance (especially residential) are addressed. Direct application using ARGUSR software makes this book extremely hands on giving students practical, real-world experience in real estate analysis.
Features
New to This Edition
- A free, student trial version of ARGUSR software included on CD along with student exercises provides practical experience in real estate investment by solving lease-by-lease investments and valuation problems. CD also provides tables, financial data, and worksheets to aid in understanding financial relationship and solving end-of-chapter exercises.
- Financial calculator keystrokes applications throughout the book assist students in solving calculations and help introduce an important tool in solving financial investment questions.
- Study review slides, created by the authors, are provided on the student CD for independent study and reinforcement of key concepts.
- Appendix reviews and references the time value of money and related concepts.
New to This Edition
- Online interactive flashcards and an open internal design with larger print help engage and enhance student learning.
- Complete coverage of sub-prime mortgage crisis of 2008, analysis of the Housing and Economic Recovery Act and discussion of mortgage-backed securities and their inherent risks.
Table of Contents
I. FINANCE AND REAL ESTATE.
1. Real Estate Finance: An Overview.
2. Money. Credit. and the Determination of Interest Rates.
3. Finance Theory and Real Estate.
II. RESIDENTIAL REAL ESTATE FINANCE.
4. The Early History of Residential Finance and Creation of the Fixed Rate Mortgage.
5. Modern Residential Finance.
6. Alternative Mortgage Instruments.
7. Financing and Property Values.
8. Federal Housing Policies: Part 1.
9. Federal Housing Policies: Part 2.
10. The Secondary Mortgage Market.
11. Valuation of Mortgage Securities.
12. Controlling Default Risk Through Borrower Qualification. Loan Underwriting and Contractual Relationships.
13. Loan Origination, Processing, and Closing.
14. Mortgage Default Insurance, Foreclosure, Title Insurance.
III. COMMERCIAL REAL ESTATE FINANCE.
15. Value, Leverage, and Capital Structure.
16. Federal Taxation and Real Estate Finance.
17. Sources of Funds for Commercial Real Estate Properties.
18. Acquisition, Development, and Construction Financing.
19. Permanent Financing of Commercial Real Estate Properties.
20. Ownership Structures for Financing and Holding Real Estate.
IV. SPECIAL TOPICS IN REAL ESTATE FINANCE.
21. Real Estate in a Portfolio Context.
22. Liability, Agency Problems, Fraud, and Ethics in Real Estate
I. FINANCE AND REAL ESTATE.
1. Real Estate Finance: An Overview.
2. Money. Credit. and the Determination of Interest Rates.
3. Finance Theory and Real Estate.
II. RESIDENTIAL REAL ESTATE FINANCE.
4. The Early History of Residential Finance and Creation of the Fixed Rate Mortgage.
5. Modern Residential Finance.
6. Alternative Mortgage Instruments.
7. Financing and Property Values.
8. Federal Housing Policies: Part 1.
9. Federal Housing Policies: Part 2.
10. The Secondary Mortgage Market.
11. Valuation of Mortgage Securities.
12. Controlling Default Risk Through Borrower Qualification. Loan Underwriting and Contractual Relationships.
13. Loan Origination, Processing, and Closing.
14. Mortgage Default Insurance, Foreclosure, Title Insurance.
III. COMMERCIAL REAL ESTATE FINANCE.
15. Value, Leverage, and Capital Structure.
16. Federal Taxation and Real Estate Finance.
17. Sources of Funds for Commercial Real Estate Properties.
18. Acquisition, Development, and Construction Financing.
19. Permanent Financing of Commercial Real Estate Properties.
20. Ownership Structures for Financing and Holding Real Estate.
IV. SPECIAL TOPICS IN REAL ESTATE FINANCE.
21. Real Estate in a Portfolio Context.
22. Liability, Agency Problems, Fraud, and Ethics in Real Estate
Terrence M. Clauretie received his Ph.D. in Economics from Washington State University. He is currently a professor of Real Estate Finance at UNLV. To date, he has authored three texts and 75 articles in academic and professional journals. He is a fellow of the Homer Hoyt Advanced Studies Institute, and also a former adjunct professor of the National Association of Corporate Real Estate Executives.
G. Stacy Sirmans
G. Stacy Sirmans
