Real Estate Finance: Theory and Practice / Edition 5

Real Estate Finance: Theory and Practice / Edition 5

by Terrence Clauretie, G. Stacy Sirmans
     
 

Based on sound economic and finance principles, the primary goal of this market-leading text is 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

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Overview

Based on sound economic and finance principles, the primary goal of this market-leading text is 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. The impact of major federal legislation that applies to real estate finance (especially residential) is also addressed.

Product Details

ISBN-13:
9780324305548
Publisher:
Cengage Learning
Publication date:
11/28/2005
Edition description:
Problem Workbook
Pages:
80
Product dimensions:
8.40(w) x 10.70(h) x 0.30(d)

Table of Contents

Preface
Ch. 1Real Estate Finance: An Overview2
Ch. 2Money, Credit, and the Determination of Interest Rates15
Ch. 3Finance Theory and Real Estate29
Ch. 4The Early History of Residential Finance and Creation of the Fixed Rate Mortgage46
Ch. 5Postwar Residential Finance64
Ch. 6Alternative Mortgage Instruments98
Ch. 7Financing and Property Values134
Ch. 8Federal Housing Policies: Part I155
Ch. 9Federal Housing Policies: Part II185
Ch. 10The Secondary Mortgage Market202
Ch. 11Valuation of Mortgage Securities232
Ch. 12Controlling Default Risk Through Borrower Qualification, Loan Underwriting, and Contractual Relationships271
Ch. 13Loan Origination, Processing, and Closing297
Ch. 14Mortgage Default Insurance, Foreclosure, and Title Insurance340
Ch. 15Value, Leverage, and Capital Structure362
Ch. 16Federal Taxation and Real Estate Finance385
Ch. 17Sources of Funds for Commercial Real Estate Properties421
Ch. 18Acquisition, Development, and Construction Financing441
Ch. 19Permanent Financing of Commercial Real Estate Properties467
Ch. 20Ownership Structures for Financing and Holding Real Estate490
Ch. 21Real Estate in a Portfolio Context510
Ch. 22Liability, Agency Problems, Fraud, and Ethics in Real Estate Finance534
Appendix 1: A Refresher Course on the Time Value of Money and Related Concepts560
Appendix 2: Acronym List618
Appendix 3: Software to Accompany Real Estate Finance620
Glossary628
Name Index650
Subject Index652

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