Flexibility and real estate valuation under uncertainty : a practical guide for developers /

Bibliographic Details
Main Authors: Geltner, David, 1951- (Author), De Neufville, Richard, 1939- (Author)
Format: eBook
Language:English
Published: Hoboken, NJ : John Wiley & Sons, Inc., 2018.
Subjects:
Online Access:View fulltext via EzAccess
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020 |a 9781119106456  |q (electronic book) 
020 |a 1119106451  |q (electronic book) 
020 |a 9781119106470  |q (electronic book) 
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020 |a 1119106486  |q (electronic book) 
020 |z 9781119106494  |q (paperback) 
029 1 |a AU@  |b 000061169444 
029 1 |a CHVBK  |b 516425986 
029 1 |a CHNEW  |b 001003005 
035 |a (OCoLC)1011557605 
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050 1 4 |a HD1387  |b .G45 2018 
072 7 |a BUS  |x 054000  |2 bisacsh 
082 0 0 |a 333.33/2  |2 23 
049 |a MAIN 
100 1 |a Geltner, David,  |d 1951-  |e author. 
245 1 0 |a Flexibility and real estate valuation under uncertainty :  |b a practical guide for developers /  |c David Geltner, Massachusetts Institute of Technology, Cambridge, MA, USA, Richard de Neufville, Massachusetts Institute of Technology, Cambridge, MA, USA. 
264 1 |a Hoboken, NJ :  |b John Wiley & Sons, Inc.,  |c 2018. 
264 4 |c ©2018 
300 |a 1 online resource 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
504 |a Includes bibliographical references and index. 
505 0 |a Intro; Title Page; Copyright Page; Contents; Foreword; Authorsâ#x80;#x99; Preface; Acknowledgments; About the Companion Website; Chapter 1 Discounted Cash Flow Valuation: The Basic Procedures and Concepts Underlying Spreadsheet Valuation Constitute the Springboard to our Approach of Analyzing Flexibility Under Uncertainty; 1.1 Why the Focus on the Discounted Cash Flow Model?; 1.2 Structure of a Discounted Cash Flow Spreadsheet; 1.3 The Cash Flow Projection; 1.4 Discount Rate; 1.5 Market Value and Forward-Looking (Ex-Ante) Analysis; 1.6 Backward-Looking (Ex-Post) Analysis; 1.7 Conclusion. 
505 8 |a Chapter 2 Economics of the Discounted Cash Flow Valuation Model: Understanding the Discount Rate is Critical2.1 Choice of Discount Rate; 2.2 Differences between Discount Rate, Opportunity Cost of Capital, and Internal Rate of Return; 2.3 Net Present Value; 2.4 Relationship between Discount Rate, Growth Rate, and Income Yield; 2.5 Relationship between Discount Rate and Risk; 2.6 Conclusion; Chapter 3 Future Scenarios Matter: We Need to Recognize that Future Projections are Uncertain; 3.1 The Standard Discounted Cash Flow Model Appears to be Deterministic. 
505 8 |a 3.2 We Live in a World of Uncertainty3.3 Discounted Cash Flow Pro Forma Cash Flows Are Expectations; 3.4 Flexibility and Options; 3.5 Conclusion; Chapter 4 Scenario Analysis: Future Scenarios can Significantly and Surprisingly Affect the Present Value; 4.1 Discounted Cash Flow Scenario Analysis; 4.2 Scenarios Affect Value; 4.3 Flexibility Has Value; 4.4 Conclusion; Chapter 5 Future Outcomes Cover a Range of Possibilities: We Can Describe Uncertainties in Real Estate Using Probability Distributions of Possible Future Outcomes; 5.1 Distribution of Future Outcomes. 
505 8 |a 5.2 Quantifying Input Distributions5.3 Distributions of Outcomes Differ from Distributions of Inputs; 5.4 Flaw of Averages; 5.5 Conclusion; Chapter 6 Simulation of Outcomes: Simulation is a Practical, Efficient Way to Explore Uncertainty and to choose between Alternative Strategies for Managing it; 6.1 Generating Scenarios; 6.2 Real Estate Simulation in a Nutshell; 6.3 Simulation Is an Efficient Process; 6.4 Number of Trials; 6.5 Conclusion; Chapter 7 Modeling Price Dynamics: Using Pricing Factors to Model the Dynamics of Real Estate Markets; 7.1 Pricing Factors; 7.2 Random Walks. 
505 8 |a 7.3 Real Estate Pricing Factor Dynamics7.4 Conclusion; Chapter 8 Interpreting Simulation Results: Target Curves and Scatterplots can be used to Graph the Distribution of the Sample Output; 8.1 Target Curves; 8.2 Comparing Target Curves; 8.3 Value at Risk; 8.4 Scatterplots; 8.5 Conclusion; Chapter 9 Resale Timing Decision: Analysis: Letâ#x80;#x99;s See what happens when we apply the Tools of Flexibility Analysis to a Classical Investment Decision: when to sell the Property; 9.1 The Resale Timing Problem; 9.2 Extending the Time Horizon of the Discounted Cash Flow Model; 9.3 IF Statements. 
588 0 |a Online resource; title from digital title page (viewed on April 20, 2018). 
650 0 |a Real property  |x Valuation. 
650 0 |a Real estate development. 
650 0 |a Real estate investment. 
650 7 |a BUSINESS & ECONOMICS  |x Real Estate  |x General.  |2 bisacsh 
650 7 |a Real estate development.  |2 fast  |0 (OCoLC)fst01090973 
650 7 |a Real estate investment.  |2 fast  |0 (OCoLC)fst01091018 
650 7 |a Real property  |x Valuation.  |2 fast  |0 (OCoLC)fst01091157 
655 4 |a Electronic books. 
700 1 |a De Neufville, Richard,  |d 1939-  |e author. 
776 0 8 |i Print version:  |a Geltner, David, 1951-  |t Flexibility and real estate valuation under uncertainty.  |d Hoboken, NJ : John Wiley & Sons, [2018]  |z 9781119106494  |w (DLC) 2017051519 
856 4 0 |z View fulltext via EzAccess  |u https://ezaccess.library.uitm.edu.my/login?url=https://doi.org/10.1002/9781119106470 
994 |a 92  |b DG1