Browsing by Author "Taş, İsmail Serdar"

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    Fast, accurate and aproximate valuation of real estate property
    (Bahçeşehir Üniversitesi Fen Bilimleri Enstitüsü, 2013-01) Taş, İsmail Serdar; Mimaroğlu, Selim Necdet
    Target of real restate valuation is to find the market value of the real estate property which is a hard task. In stock markets buyers list their price while seller does the same and market price for the stock is the price of latest transaction. But, in real estate properties transactions do not take place frequently and every real estate property is different than each other. So, there is no simple way of determining the market value of the real estate properties. On the other hand financial institutions loaning money in return of a mortgage on the real estate properties need to know the market value of the real estate property. So, in Turkey, for the financial institutions the valuation of real estate properties is being done by real estate experts. Valuation of the real estate experts depend on a simplified multiple regression analysis and expert’s personal judgement. Assuming that personal judgements are always correct, still this is not the best way to make a bulk valuation. In this thesis, by combining data mining methods of clustering and classification, we propose a novel, fast, accurate and approximate real estate property valuation method that is robust and intuitive.