Multilevel methodology approach for the construction of real estate monthly index numbers

In this paper, we evaluate price indices and hedonic price indices for Italian real estate data using multilevel models. The methodology is based on a random coefficient panel data model. We propose a Laspeyres-type price index and hedonic prices indexes based on some characteristics of the sold properties. The multilevel hierarchical analysis has the advantage of allowing the appraisal analysis for groups, and identified in the same sample data the hierarchical structures of market segmentation according to the parameters of the real estate segment. It allows getting a lot of regression functions as the number of groups identified. Obviously, this depends on the sample size and the variability between groups. Specifically, if the data are also grouped by date, the model allows an analysis of the time series which makes possible the calculation of index numbers and the overall monthly index numbers of real estate properties, consistent with collected data

Appraisal Value and Assessed Value in Italy.

The appraisal value is an appraiser's opinion (not determination) of the current worth of a property on the real estate market. The assessed value is the value placed on real estate property by government assessors for determining ad valorem taxes. Assessed value is used rarely as basis for appraisal value. The Italian appraisal practice is characterized by valuations developed in subjective opinions formulated by the valuers, according to the experience and the competence rather than on the survey of the market data of comparable properties. These opinions are indicated by the term expertise, borrowed from the estimates made in the art market. In Italy, the valuation of the properties applies a form of expertise based on subjective opinion rather than on the market prices. The basis of the expertise is one synthetic estimate of the value based on a single parameter, often derived from generic list of interval values quotations

Fredholm methods for billiard eigenfunctions in the coherent state representation

We obtain a semiclassical expression for the projector onto eigenfunctions by means of the Fredholm theory. We express the projector in the coherent state basis, thus obtaining the semiclassical Husimi representation of the stadium eigenfunctions, which is written in terms of classical invariants: periodic points, their monodromy matrices and Maslov indices.Comment: 12 pages, 10 figures. Submitted to Phys. Rev. E. Comments or questions to [email protected]

Localization of Eigenfunctions in the Stadium Billiard

We present a systematic survey of scarring and symmetry effects in the stadium billiard. The localization of individual eigenfunctions in Husimi phase space is studied first, and it is demonstrated that on average there is more localization than can be accounted for on the basis of random-matrix theory, even after removal of bouncing-ball states and visible scars. A major point of the paper is that symmetry considerations, including parity and time-reversal symmetries, enter to influence the total amount of localization. The properties of the local density of states spectrum are also investigated, as a function of phase space location. Aside from the bouncing-ball region of phase space, excess localization of the spectrum is found on short periodic orbits and along certain symmetry-related lines; the origin of all these sources of localization is discussed quantitatively and comparison is made with analytical predictions. Scarring is observed to be present in all the energy ranges considered. In light of these results the excess localization in individual eigenstates is interpreted as being primarily due to symmetry effects; another source of excess localization, scarring by multiple unstable periodic orbits, is smaller by a factor of $\sqrt{\hbar}$.Comment: 31 pages, including 10 figure

On the rate of quantum ergodicity in Euclidean billiards

For a large class of quantized ergodic flows the quantum ergodicity theorem due to Shnirelman, Zelditch, Colin de Verdi\`ere and others states that almost all eigenfunctions become equidistributed in the semiclassical limit. In this work we first give a short introduction to the formulation of the quantum ergodicity theorem for general observables in terms of pseudodifferential operators and show that it is equivalent to the semiclassical eigenfunction hypothesis for the Wigner function in the case of ergodic systems. Of great importance is the rate by which the quantum mechanical expectation values of an observable tend to their mean value. This is studied numerically for three Euclidean billiards (stadium, cosine and cardioid billiard) using up to 6000 eigenfunctions. We find that in configuration space the rate of quantum ergodicity is strongly influenced by localized eigenfunctions like bouncing ball modes or scarred eigenfunctions. We give a detailed discussion and explanation of these effects using a simple but powerful model. For the rate of quantum ergodicity in momentum space we observe a slower decay. We also study the suitably normalized fluctuations of the expectation values around their mean, and find good agreement with a Gaussian distribution.Comment: 40 pages, LaTeX2e. This version does not contain any figures. A version with all figures can be obtained from http://www.physik.uni-ulm.de/theo/qc/ (File: http://www.physik.uni-ulm.de/theo/qc/ulm-tp/tp97-8.ps.gz) In case of any problems contact Arnd B\"acker (e-mail: [email protected]) or Roman Schubert (e-mail: [email protected]

Palermo, stima del canone di affitto di un magazzino con procedimenti market oriented

Stima del canone di mercato secondo gli standard valutativi internazional

Mercato immobiliare. Gli standard valutativi internazionali.

L'applicazione degli standard valutativi internazionali nelle valutazioni mirano all'efficienza e alla trasparenza del mercato immobiliare

Sales o market comparison approach

The denomination of the most important method of real estate appraisal has to consider its history and the methodological implications. In Italy the valuers begin to apply the international valuation standards to estimate the market value, the fair value for accounting and the mortgage lending value for bank, widening one's professional horizon