Financial Modeling For Equity Research

A Step-by-Step Guide to Earnings Modeling and Stock Valuation for Investment Analysis

John Moschella CFA CPA | 4.05 | 18 ratings and reviews

Market value serves as the safety valve to the secured lending dynamics of landed property. This book highlights the concept of market value and the various approaches by which it can be estimated. The parallel occurrences of other types of values are presented through the reproduction from the International Valuation Standards' definitions and concepts. The role of comparative evidence in valuation and the concept of hierarchy of evidence in valuation have been presented with reference to the relevant RICS literature on these aspects. All these basics are the subject matter of the first chapter of this book. The second chapter gives a general overview of the secured lending applications. The onward chapters—the owner-occupied property, the development property, the investment property and the trade-related property focus on the corresponding areas through examples of problems typical in valuation. Thus the chapter on owner-occupied property deals with often-faced problems in the valuation of new and old flats under owner occupation. The chapter on development property gives a detailed exercise for secured lending valuations of properties for development with the presentation of discounted cash flow techniques.
The chapter on investment property gives the pros and cons of income-producing properties from various aspects including presentation of the concept of equated yield. The chapter on trade-related property gives an overview of valuation of property used as a part of the trading process. This chapter also encompasses an example of valuation of a hotel and another of valuation of a nursing home. A chapter on the mathematics of valuation tables has been presented with examples of formation and application of the valuation tables. The last chapter deals with how the valuer should act under the various circumstances of a secured lending valuation. This chapter also reproduces extracts from RICS literature dealing with the minimum contents of a valuation report. less

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