Real Estate Perspectives: An Introduction to Real Estate [Hardcover]

John Corgel (Author), David C Ling (Author), Halbert C Smith (Author)

Book Description

Publication Date: October 16, 2000 | ISBN-10: 0072318228 | ISBN-13: 978-0072318227 | Edition: 4

This text provides a clear presentation of the numerous investment decisions involved in real estate such as whether and how to lease, buy, sell, or mortgage a property; how to analyze and predict the forces in the market that determine real estate values; whether and when to renovate, rehabilitate, or demolish; and when and how to divest a property. The authors use Value as a unifying theme, supporting their view that students best understand and appreciate the importance of the complex economic, social, and legal processes that affect real estate markets after they have developed an understanding of how real estate valuation and investment decisions are made. The text provides a decision-making framework through a greater use of technology and quantitative decision-making tools. It is organized into five perspectives: Investment, Market, Value, Mortgage Finance and Legal.

Editorial Reviews

About the Author

Professor Jack Corgel has been a member of the Cornell Hotel School faculty for seven years. He served as the first Director of the Center of Hospitality Research from 1992-1994. After receiving undergraduate and Ph.D. (1979) degrees from the University of Georgia in real estate and corporate finance, he taught at the University of Florida, Georgia State University, and the University of Connecticut. During the academic year 1985-1986, he was a visiting scholar at the Federal Home Loan Bank Board in Washington, D.C. He is a fellow of the Homer Hoyt Institute. Professor Corgel has published over 50 articles in the most prestigious academic and professional journals, mainly on the subjects of real estate finance, investment, valuation, and hospitality real estate.

David C. Ling (Ph.D, 1984, and MBA, 1977, The Ohio State University) is the William D. Hussey Professor of Real Estate and the Director of the Real Estate Research Center in the Warrington College of Business Adminstration and Graduate School of Business at the University of Florida. Professor Ling serves on numerous editorial boards including the Journal of Housing Economics, Real Estate Economics, The Journal of Real Estate Research, and Real Estate Finance. He has provided research and consulting services to several state and national organizations including the Federal National Mortgage Association, the National Association of Home Builders, the National Association of Realtors, and the Florida Association of Realtors. He is a Fellow of the Homer Hoyt Institute and board member of the Real Estate Research Institute.

Halbert C. Smith is a professor in the Department of Finance, Insurance and Real Estate in the Warrington College of Business Administration and the Graduate School of Business at the University of Florida. He has also served as Chairman of the Department and was the founding Director of the Real Estate Research Center. He received his B.S. degree from Purdue University, his MBA from Indiana University, and his DBA from the University of Illinois. Professor Smith has served on the faculties of several U.S. universities, and in 1995 was named a Fellow of the International Center for Economic Research in Turin, Italy. Professor Smith is also a director and officer of the Homer Hoyt Insittute and affiliated organizations. He was a founding member of the American Real Estate and Urban Economics, and in 1970 he served as that organization’s President. In addition to publishing numerous articles in professional and academic journals and several other books dealing with real estate subjects, he is Editor-in-Chief of Real Estate Issues.

Product Details

• Hardcover: 648 pages
• Publisher: McGraw-Hill/Irwin; 4 edition (October 16, 2000)
• Language: English
• ISBN-10: 0072318228
• ISBN-13: 978-0072318227
• Product Dimensions: 10.1 x 8.1 x 1.1 inches
• Shipping Weight: 3 pounds
• Average Customer Review: 3.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #1,369,609 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

10 of 13 people found the following review helpful:

5.0 out of 5 stars Comprehensive Commercial Focus on Real Estate, March 23, 2002

By 

S. Miska (Germany) - See all my reviews
(REAL NAME)   

This review is from: Real Estate Perspectives: An Introduction to Real Estate (Hardcover)

I took Jack Corgel's course in the Hotel School at Cornell. We used the third edition of this text, and it covered the spectrum of concepts for a basic introduction to real estate investment. Even though the course focused on commercial real estate, I found the concepts have helped me determine whether I have made good choices in residential real estate, as well. The best aspect of the book (and the course) was applying a discounted cash flow analysis to particular properties. As a method to assess the financial viability of a property by analyzing the rent, tax, depreciation and other effects, the discounted cash flow analysis helped me feel much more confident in my real estate investments.

The book covers four basic areas: investment principles like net present value, real estate markets, mortgage financing, and legal aspects of real estate. Although not flashy with lots of pictures, the essential concepts and methods are thoughtfully explained and applied. I highly recommend this book as a reference to keep on your shelf to refer to periodically if engaged in the acquisition of real estate.

1 of 1 people found the following review helpful:

2.0 out of 5 stars Well Below par, October 20, 2008

By 

Josh Broker "Josh" (ithaca, ny) - See all my reviews

This review is from: Real Estate Perspectives: An Introduction to Real Estate (Hardcover)

I took prof corgel's class in the hotel school at cornell and used his book both for his class and the upper level real estate finance class ha 420. in both classes i earned very high marks. jack corgel, while extremely knowledgeable, is an under-achieving professor. this is widely agreed upon in the cornell community and most students make tremendous efforts to enroll in the required course during the spring when it is taught by a different professor. he has great difficulty conveying information in an understandable, overlapping, interconnected manner. he would do well to show us the completed puzzle first and then explain how and why all the pieces go where they go. his book demonstrates his deficiency in this area. the text is pact full of information. It is poorly organized and extremely difficult to follow. his text attempts to use 1 example and continue to reference it throughout the chapters. this method has failed corgel considerably. as a result, it is difficult to make use of his example when reading the book out of chronological order and much early chapter referencing is needed to remind the student of the example's background information. he would have done well to introduce a new venture at the beginning of each chapter in the context of the material being examined in the subsequent sections. Not only would this have provided students with a catered scenario for maximum comprehension of material, but it would have allowed for general absorption of practical real world applications. Lastly, the text is a miserably boring read lacking any and all forms of personality or interesting commentary. It is as boring as it is complicated.