scholarly journals Behavioural Biases and Information Disclosure Laws Relating to Residential Property Sales: Narrowing the Gap between Existing Laws and Calls for Future Reforms

2010 ◽  
Vol 9 (2) ◽  
Author(s):  
Sharon Christensen ◽  
William D Duncan ◽  
Amanda Stickley
Keyword(s):  
Information Disclosure ◽  
Residential Property ◽  
Disclosure Laws ◽  
Property Sales

Assessing the Influence of Property Tax Delinquency and Foreclosures on Residential Property Sales

2016 ◽  
Vol 53 (5) ◽  
pp. 898-923 ◽  
Author(s):  
Deborah A. Carroll ◽  
Christopher B. Goodman
Keyword(s):  
Central City ◽  
Property Tax ◽  
Negative Influence ◽  
Property Taxes ◽  
Residential Property ◽  
Negative Consequences ◽  
Sale Price ◽  
Home Sales ◽  
Property Sales ◽  
Property Tax Delinquency

We examine the influence of property tax delinquency on the sale price of nearby homes from 2002 to 2013 using more than 46,000 residential property sales in a representative midwestern central city—Milwaukee, Wisconsin. After controlling for a number of property and neighborhood characteristics including nearby foreclosures, we find property tax delinquency has a significant influence on nearby home sales. The relationship is negative; one additional tax delinquent property within 250 m of a home sale is associated with a discounted sale price of 0.79% or approximately $1,085 on average. In addition, the influence of tax delinquent properties on home sale prices diminishes with distance, suggesting blight is the source of the discount. Based on these findings, the negative influence of tax delinquency is likely to be exacerbated in central cities where housing density is greater and delinquency is higher and more persistent than the surrounding suburbs, which has the potential to lead to fiscal distress as property taxes are the primary revenue source for cities. As such, we suggest a two-tiered approach for cities to mitigate the negative consequences of tax delinquency: a combination of policies to eliminate delinquency and also to help homeowners become financially stable.

Unraveling of Information: Competition and Uncertainty

2004 ◽  
Vol 4 (1) ◽  
Author(s):  
Andrew E Stivers
Keyword(s):  
Information Disclosure ◽  
Prisoner's Dilemma ◽  
Prisoner’S Dilemma ◽  
Theoretical Work ◽  
Mandatory Disclosure ◽  
Full Disclosure ◽  
Oligopolistic Market ◽  
Disclosure Laws ◽  
Number Of Firms

This paper examines incentives for information disclosure in a oligopolistic market when buyers are unsure of the existence of that information. Previous empirical and theoretical work has shown that mandatory disclosure laws can be binding when buyers do not know whether the information exists. This paper shows that the information unraveling result is strengthened by competition not only because a market with more firms is increasingly likely to have at least one firm with quality high enough to want to disclose it (thus starting the information unraveling result) but also because firms reveal information that makes themselves look bad if they can make their competitors look worse. This results in prisoner's dilemma style incentives to reveal that ensures full disclosure as the number of firms goes to infinity.

scholarly journals PERAN PEMERINTAH KABUPATEN DOMPU DALAM MENGIMPLEMENTASIKAN UNDANG -UNDANG NO 14 TAHUN 2008 TENTANG KETERBUKAAN INFORMASI PUBLIK

2018 ◽  
Vol 6 (1) ◽  
pp. 70
Author(s):  
Sukardin Sukardin ◽  
Arsyad Abd. Gani
Keyword(s):  
Information Disclosure ◽  
Public Information ◽  
Geographical Location ◽  
Analysis Technique ◽  
State Administration ◽  
Good Government ◽  
Disclosure Laws ◽  
District Government ◽  
The Government

Keterbukaan informasi publik merupakan salah satu prinsip demi tercapainya pemerintah yang baik dan keterbukaan informasi publik merupakan sarana mengoptimalkan pengawasan publik terhadap penyelenggaraan negara dan Badan Publik lainnya sebagaimana diamanatkan dalam Undang-Undang Nomor 14 Tahun 2008. Tujuan dalam penelitian ini dilakukan untuk mengetahui peran pemerintah kabupaten Dompu dalam mengimplementasikan undang-undang keterbukaan informasi publik, dan kendala-kendala yang dihadapi pemerintah dalam mengimplementasikan undang-undang keterbukaan informasi publik. Metode penelitian yang digunakan dalam penelitian ini adalah kualitatif dengn pendekatan deskriptif. Metode pengumpulan data yang digunakan adalah metode observasi, wawancara dan dokumentasi. Teknik analisis data yang digunakan adalah reduksi data, penyajian data dan menarik kesimpulan. Hasil penelitian menunjukkan bahwa peran pemerintah kabupaten Dompu dalam pengimplementasian Undang-Undang No 14 tahun 2008 Keterbukaan Informasi Publik adalah membantuk pejabat pengelolah informasi dan dokumentasi serta dibentuknya pula pejabat pengelolah informasi dan dokumentasi pembantu serta dibentuknya desa penerangan informasi publik dengan adanaya lembaga-lembaga ini mempermudah pengimplementasian undang-undang keterbukaan informasi public dan masalah penyelesaian segketa informasi masih terdapat kendala-kendala yang dirasakan oleh pemerintah kabupaten Dompu terutama regulasi antara pemerintah dengan masyarakat desa karena letak geografis yang sulit.Public information disclosure is one of the principles for achieving good government and public information disclosure is a means of optimizing public oversight of state administration and other public bodies as mandated in Law No. 14 of 2008. The purpose of this study was to determine the role of Dompu district government in implementing public information disclosure laws, and constraints faced by the government in implementing public information disclosure laws. The research method used in this study is qualitative with a descriptive approach. The data collection method used is the method of observation, interviews and documentation. The data analysis technique used is data reduction, data presentation and drawing conclusions. The results showed that the role of the Dompu district government in implementing Law No. 14 of 2008 on Public Information Openness was to assist information and documentation management officials and the establishment of supporting information and documentation officials as well as the establishment of public information lighting villages with these institutions facilitating implementation the public information disclosure law and the problem of completing the information series are still constraints that are felt by the Dompu district government, especially the regulation between the government and the village community because of the difficult geographical location.

Analysis of residential property sales using space–time point patterns

2017 ◽  
Vol 21 ◽  
pp. 149-165 ◽  
Author(s):  
Lucia Paci ◽  
María Asunción Beamonte ◽  
Alan E. Gelfand ◽  
Pilar Gargallo ◽  
Manuel Salvador
Keyword(s):  
Space Time ◽  
Residential Property ◽  
Point Patterns ◽  
Property Sales ◽  
Time Point

scholarly journals In Search of Home Sweet Home: Between theory and reality

2017 ◽  
Vol 2 (6) ◽  
pp. 239
Author(s):  
Nuraisyah Chua Abdullah ◽  
Ramzyzan Ramly ◽  
Muhammad Izwan Ikhsan
Keyword(s):  
United States ◽  
Information Disclosure ◽  
The United States ◽  
Caveat Emptor ◽  
Disclosure Laws

Houses bought through sub-sale contract are of varying quality. The “caveat emptor” doctrine compels the purchaser to make a thorough investigation in a sub-sale house purchase. The “as is” clause posits that the house is sold based on its existing conditions. This paper analyses the application of the “caveat emptor” and “as is” clause in Malaysia and highlights the framework of information disclosure on property conditions in Malaysia, in comparison with the vendor disclosure laws in the United States and Australia. This paper suggests that a pre-purchase checklist should be provided in a sale and purchase transaction.

scholarly journals International Real Estate Review

2008 ◽  
Vol 11 (1) ◽  
pp. 128-150
Author(s):  
Prince Christian Cruz ◽  
Keyword(s):  
Property Rights ◽  
Transaction Costs ◽  
Housing Markets ◽  
Urban Slums ◽  
Residential Property ◽  
Asian Countries ◽  
Rapid Urbanization ◽  
The World ◽  
Property Sales ◽  
Using Data

Asia is home to some of the fastest growing cities in the world. As urbanization increases, demand for housing also increases. Well functioning housing markets can minimize problems associated with rapid urbanization such as unaffordable housing and urban slums. This paper explores the different aspects of the residential property sales markets in Asian countries. Using data gathered by the Global Property Guide, transaction costs associated with residential property purchases are analyzed. Housing markets are also examined in terms of tenure, protection of property rights, and openness and transparency. Roundtrip transaction costs for buying properties are high, above 10% in several countries in Asia. High transaction costs and unaffordable housing combined with weak protection of property rights are seen to be conducive to the creation of urban slums.

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