Abstracts for Vol.
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The article applies the corporate liabilities extension of the Black-Scholes option pricing model to the equity valuation of a real estate project. The regression results of the modified model robustly sustain its usefulness in explaining the derivation of the debt-coverage ratio. The study supports this notion. Owner-tenure is found to be significantly related to the real profit realized by sellers. This paper examines the complex relationship between selling price, listing price, housing features, housing market conditions, and marketing time in a large sample of single-family homes.