This textbook highlights the subjective valuation components of residential and commercial real estate which can lead to a range of acceptable property value conclusions. It is suitable for undergraduate and masters students of real estate finance, and will also be useful to practitioners in residential and commercial real estate. Inhaltsverzeichnis 1: From Austrian Value Subjectivity to Shackle's Possibility Curve 2: The Role of Machine Learning and AI in Real Estate Valuation 3: Overview and Pitfalls of Home Valuation Subjectivity 4: Subjectivity of Commercial Real Estate Valuation 5: Market Participant Value Perceptions 6: Subjectivity of Cap Rates, Discount Rates, and Debt Yields 7: Subjectivity in Hotel Property Valuation 8: The Discounted Sellout and Subjectivity 9: Mortgage Backed Securities and Subjectivity 10: The Provocation of Time
