Mass Transportation, Apartment Rent and Property Values

Rent plays a vital role in property valuation because any positive or negative influence on rent will in turn affect a property's value. This paper examines the effect of mass transportation on apartment rent. Specifically, this study investigates the impact on rent and value for residential income properties located in close proximity to Washington, D.C. Metrorail stations. After reviewing the empirical research which has focused on the effect of mass transportation availability on property values, this paper examines the benefits on apartment rent of Washington, D.C. apartment buildings from location near Metrorail stations. Our empirical results show that distance from a metro station has an adverse impact on apartment rent, i.e., each one-tenth mile increase in distance from the station results in a decrease in rent per apartment unit of about 2.50%. This analysis should be of interest to a host of domestic and international market participants including academics who study real estate markets, tax assessors who determine market value, appraisers who make market-derived rent adjustments, and property managers who set apartment rents.

Real Estate Brokerage and the Hosting Market: An Annotated Bibliography

A number of facets of real estate brokerage have been examined over time in theoretical and empirical articles appearing in the literature. This article summarizes brokerage research and suggests avenues for future inquiry. In attempting to organize brokerage research, the research is classified into eight broad topical areas: (1) brokerage firm characteristics; (2) broker commissions; (3) time on the market; (4) broker compensation; (5) the effects of brokerage on house prices; (6) regulation of the brokerage industry; (7) legal liability; and (8) international comparisons. In each area, we point out the major focus of the research by summarizing important findings.

What Do We Know about Apartments and Their Markets?

This paper examines major themes in apartment market research. The intent is to provide an overview of academic studies of the apartment market and to outline directions for future research.

What Do We Know About Real Estate Brokerage?

Many facets of real estate brokerage have been examined in studies appearing in the literature over the last several years. This review attempts to organize the research around six questions concerning the brokerage industry: (1) What is the nature of the market for brokerage services and how does it influence the individual firm; (2) What factors determine broker and agent compensation; (3) How does brokerage participation influence time on the market and price; (4) Is the brokerage market efficient and equitable;(5) Must brokerage firms assume greater liability; and (6) How do brokerage markets vary internationally. In examining each question, the review points out the major focus of the research and summarizes important findings. Its purpose is to identify key issues facing the brokerage industry and suggest avenues for future study.

Security Measures and the Apartment Market

This paper examines the effect of security measures on apartment rent and occupancy. Three variables representing various security measures are estimated in a simultaneous model of rent and occupancy. Providing 24 hour security has a significant positive effect on both rent and occupancy. Having a manager living on site or a manned front desk/restricted entry does not significantly affect rent. All three variables, however, have a significant positive effect on occupancy. It would appear that, although landlords cannot extract higher rents for some security measures, all three measures included in this study act to increase occupancy.

Rental Concessions and Property Values

This paper examines apartment rental concessions and their effect on property values through apartment rent and occupancy rates. A simultaneous equation model is used to estimate rent and occupancy equations in linear, semilog, and logged form. The results show that rental concessions have a positive effect on both rent and occupancy rates. This would indicate that concessions have a positive effect on property values since higher capitalized value should follow. The results also reveal that various amenities and services provided by apartment units have significant effects on rent.

Apartment Rent, Concessions and Occupancy Rates

This paper examines the effects of rental concessions on apartment rent and occupancy rates. Using limited-information maximum likelihood estimation, equations for rent, occupancy, and concessions show that landlord-supplied rental concessions have a positive effect on both rent and occupancy rates. Rental concessions seem to provide the landlord a means to collect higher average rent and at the same time to increase occupancy rates. The results also indicate that a negative relationship exists between rent and occupancy rates and that certain amenities, services, and occupancy restrictions influence rent.

Mass Density Profiles of LSB Galaxies

We derive the mass density profiles of dark matter halos that are implied by high spatial resolution rotation curves of low surface brightness galaxies. We find that at small radii, the mass density distribution is dominated by a nearly constant density core with a core radius of a few kpc. For rho(r) ~ r^a, the distribution of inner slopes a is strongly peaked around a = -0.2. This is significantly shallower than the cuspy a < -1 halos found in CDM simulations. While the observed distribution of alpha does have a tail towards such extreme values, the derived value of alpha is found to depend on the spatial resolution of the rotation curves: a ~ -1 is found only for the least well resolved galaxies. Even for these galaxies, our data are also consistent with constant density cores (a = 0) of modest (~ 1 kpc) core radius, which can give the illusion of steep cusps when insufficiently resolved. Consequently, there is no clear evidence for a cuspy halo in any of the low surface brightness galaxies observed.Comment: To be published in ApJ Letters. 6 pages. Uses aastex and emulateapj5.sty Typo in Eq 1 fixe

Near-field radiative heat transfer between macroscopic planar surfaces

Near-field radiative heat transfer allows heat to propagate across a small vacuum gap in quantities that are several orders of magnitude greater then the heat transfer by far-field, blackbody radiation. Although heat transfer via near-field effects has been discussed for many years, experimental verification of this theory has been very limited. We have measured the heat transfer between two macroscopic sapphire plates, finding an increase in agreement with expectations from theory. These experiments, conducted near 300 K, have measured the heat transfer as a function of separation over mm to $\mu$m and as a function of temperature differences between 2.5 and 30 K. The experiments demonstrate that evanescence can be put to work to transfer heat from an object without actually touching it

Multi-Scale Threat Assessment of Riverine Ecosystems in the Colorado River Basin

Freshwater ecosystems are facing a deepening biodiversity crisis. Developing robust indicators to assess ecological integrity across large spatial scales and identifying the specific threats and pathways of impairment are thus critically needed if we are to inform freshwater conservation strategies. Here we present the first comprehensive threat assessment across the Colorado River Basin – one of the largest and most endangered river basins in North America – using a spatial framework accounting for the wide range of human activities (land uses, transportation infrastructure, exploitative activities, water withdrawals), pathways (local footprint, overland runoff, upstream cumulative effects), and spatial extent of influence (valley bottom, catchment and river network) known to affect the ecological integrity of riverine ecosystems. We quantified and mapped 69 individual threat indices with geospatial tools for each permanent, ephemeral, and intermittent stream segment within the Basin, encompassing a total of \u3e1,067,700 river kilometers. We further aggregated these indices into components of water quality (diffuse and point-source pollution), hydrology (flow regulation/uses and climate change), and physical system (connectivity and geomorphology). To demonstrate the potential of our framework to inform spatial planning decision processes, we examined the typical combinations of threats experienced by different hydrologic areas and stream segment types, identified candidate watersheds for habitat restoration and enhancement where hotspots of biodiversity and threat overlapped, and assessed the associations between threat indices and in situ measurements of ecological integrity describing a suite of biological (benthic macroinvertebrate, fish), chemical (total nitrogen load, water conductivity), hydrological (flow alteration) and physical indicators (streambed stability, instream habitat complexity). Our assessment highlights clear disparities in term of overall degree of threat that result from different combinations and contributions of individual stressors, with different priorities emerging for perennial versus intermittent or ephemeral stream segments, and between the upper and lower parts of the Basin. Importantly, we showed that our threat indices were generally correlated with biological, chemical, hydrological and physical indicators of ecological integrity they were intended to capture. In addition to its implications for the conservation and management of the highly imperiled Colorado River Basin, our case study illustrates how multi-faceted threat mapping can be used to assess the ecological integrity of riverine ecosystems in the absence of spatially extensive in situ measurements