Belmont University Research Symposium (BURS)

Title

Predicting Sale/Payment/Contract Types in Residential Real Estate

Publication Date

2022

College

Sciences and Mathematics, College of

Department

Math and Computer Science, Department of

BURS Faculty Advisor

Daniel C. Biles

Presentation Type

Oral Presentation

Abstract

In marketing, the definition of being "in market" is widely accepted to contain two variables: value to the consumer, and ability to pay (for the good or service)- also known as affordability. In real estate commerce, the conditions of payment for a sale- the variable which, for the purposes of this project, is arbitrarily labeled "SaleType"- in which the real estate is paid for can influence this variable of affordability- effectively shrinking- or perhaps, also even growing- a market. By being able to predict said conditions of payment for a sale, a company would then have insight into a critical variable in the larger equation of determining the quality of a potential/prospective investment.

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