An Empirical Analysis of Hedonic Regression and Grid‐Adjustment Techniques in Real Estate Appraisal
作者:
Han‐Bin Kang,
Alan K. Reichert,
期刊:
Real Estate Economics
(WILEY Available online 1991)
卷期:
Volume 19,
issue 1
页码: 70-91
ISSN:1080-8620
年代: 1991
DOI:10.1111/1540-6229.00541
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
Multiple regression analysis has become increasingly popular when appraising residential properties for tax purposes. Alternatively, most fee appraisers and real estate brokers use the traditional sales comparison approach. This study combines the two techniques and uses multiple regression to generate the adjustment coefficients used in the grid adjustment method. The study compares the combined grid‐regression method with ordinary regression and defines the market conditions under which each method is likely to be more effective. The grid‐regression method is found to be more accurate for relatively homogeneous housing markets, and the multiplicative percentage adjustment method (MPAM) the preferred appro
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