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Title
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Reported Price Errors: A Caveat for Appraisers.
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Creator
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Allen, Marcus T., Lusht, Kenneth, Weeks, H. Shelton
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Abstract/Description
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This study documents the magnitudes and signs of differences in prices reported in a multiple listing service in comparison to prices reported on HUD-1 Settlement Statements. Price differences are found in 8.75% of the sample, ranging in size from -1.09% to 21.44%. There was about a 2.5/1 ratio of overstated to understated prices, with the largest differences occurring during periods of declining market conditions.
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Date Issued
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2015-10-01
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Identifier
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fgcu_ir_000110
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Format
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Citation
