...economic analysis of the current market for single family homes in Houston. Over the past few years, the real estate market has been declining in most states where prices of homes have been falling. In addition, the number of home buyers has been falling in most cities over the past few years, even after recovery of the economy from the 2008/2009 global financial crisis. However, in Houston, Texas, the real estate market has experienced a stable growth for the last 21 months (HAR 2013). According to a report by Houston Association of REALTORS®, home buyers in Houston increased by 15.5% in February 2013 as compared to the same month last year (HAR 2013). In Houston City, single family homes constitute about 76.5% of the total housing population. During the month of February 2013, 4,407 single family homes were sold in Houston. Single-family home average sales price increased by 9.6% to $220,445 from $201,113 in February last year. The median price also increased by 7.9% to $161,700 in February 2013 (HAR, 2103). Median price is the price at which half of the homes were sold. The above information is summarised in the table below. | February 2012 | February 2103 | Change | Single-family home sales | 3,815 | 4,407 | 15.5% | Single-family average sales price | $201,113 | $220,445 | 9.6% | Single-family median sales price | $149,900 | $161,700 | 7.9% | According to Jennifer Dawson (2009), the improvement in the housing market in Houston can be attributed to low construction costs...
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...first set believes that they were advised to post asking-prices for their houses that were too low compared to other brokers’ listings while the second set believes that they were advised to accept selling-prices for houses that they purchased that were too high relative to the selling-prices for houses brokered by other realtors. Based on the given data for both VALMAX and the other brokers (will henceforth be called “OTHERS”), it is decided that the clients’ complaints are justified. In order to properly come up with this conclusion, the correct data must first be chosen, the null and alternative hypotheses must be stated, the degrees of freedom will be calculated, the rejection region will be defined, and ultimately, the test statistic will be calculated and interpreted. After this, there are three methods for coming up with the end conclusion, the first being qualitative and the last two being quantitative. ANALYSIS Choosing the Data: Three sets of data are given for both VALMAX and OTHERS for which we assume to be normally distributed: asking prices, selling prices, and the differences between the two. Either the asking/selling prices can be used or the differences data can be used, but not both. The reason why we have chosen to not use the asking and selling price data is because we cannot distinguish between the buying and selling agents. Also, we would have to assume that the asking and selling prices of VALMAX and OTHERS are in similar neighborhoods. Because...
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...APRIL 2007 Question 5 A. Encik Noor purchased a bungalow house on 1 April 2000 for RM300,000 and has incurred legal fees of RM3,500. On 4 May 2006, he incurred renovation cost of RM55,000. The bungalow was given to his daughter, Mizah, as a gift on 25 January 2008. On that date, the market value of the bungalow was RM600,000. Later, on 30 April 2011, due to financial constraint, Mizah sold the bungalow to Encik Ridwan for RM1,200,000. Mizah incurred brokerage fees of RM10,000 and valuation fees of RM40,000 on the disposal. An independent valuer valued the bungalow at RM1,600,000. Required: i. State, with reasons, whether the transfer of the bungalow by Encik Noor to his daughter on 25 January 2003 is subject to real property gains tax. ii. Compute the real property gains tax payable (if any) on the disposal of the house to Encik Ridwan by Mizah on 30 April 2006. iii. Explain the tax implication(s) should Mizah dispose the bungalow to her brother instead of to Encik Ridwan. (8 marks) Question 5: A (i) - transfer as a gift between father and child - the disposal falls under para 12, Schedule 2 of RPGT 1976 the transfer is within 5 years Holding period (father) before giving to Mizah: 3 years (within 5 yrs) - that is a no gain no loss transfer - DP is deemed AP. - Therefore, no RPGT is liable by En. Noor on the transfer...
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...Article II of the Uniform Commercial Code PA130- Contracts Unit 9 Carolyn Padilla Article II of the Uniform Commercial Code is for the sale of goods such as an automobile or a television. A house would be ok except it involves the sale of land which is not covered by article 2, and it also does not cover a contract between you and a fee for service contract, such as wanting an addition put on your house for example. Generally to use this code all parties must act in good faith or this will not be recognized by the courts and you will not be protected by the UCC Article II. The contract must be fair and if not the court may find the contract “unconscionable” There is a broad scope for this is not extremely strict and is looked at on a case by case analysis. If the court finds that the contract is not fair it may void the contract altogether or enforce the contract taking out the unfair part of the contract. In most situations the merchant is the one who has to show it is a fair and “ unconscionable” contract. This specific article also includes the statute of frauds in which a sale of goods over $500 is involved. Here is example of Article II UCC enforceable contracts: Summary of Lefkowitz v. Great Minneapolis Surplus Store, 251 Minn. 188, 86 N.W.2d 689 (1957). 1 Facts Great Minneapolis Surplus Store (D) published advertisements in a newspaper for a sale on fur coats, mink scarves, and a lapin stole. Each of the advertisements indicated that...
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...arguing that the previous contract of gift was not valid. Discuss. (7 marks) Sem I, 2004/2005 2. (i) Islamic law prescribes that the subject matter of a contract should fulfil certain conditions. State these conditions, and out of these, describe the two conditions that the subject matter should be identified with certainty and be capable of being readily delivered. (7 marks) Sem II, 2004/2005 3. Decide the validity of these contracts with the reasons for their validity or otherwise. (i) Iman sold a personal computer to Abu, but she was unsure about its specifications. (3 marks) (ii) Bank A sold a house to Aminah with two options of payment: RM20,000 if the payment is to be made in two years, or RM30,000 if the payment is to be made in 3 years, and it was accepted by Aminah. (3 marks) (iii) Abu paid a diver for 10 kg of fish that he will catch from Pedu lake. (3 marks) (iv) Omar pays a diver for whatever he may catch for him from Pedu lake on next Friday. (3 marks) (v) Ali sold a car to Awang while they were in a building by pointing out to the parking area where the car is parked. (3 marks) Sem II, 2006/2007 4. b) Zain, the owner of a large dairy farm in Pahang, noted a steady increase in the demand for fresh cow’s milk in Kuala Lumpur. He decided to expand his herd for increasing the production of milk, and purchased ten cows imported...
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...CANDIDATES MAY BRING THEIR OWN CALCULATORS TO THE EXAM 10. STATISTICAL TABLES ARE PROVIDED AT THE END OF THE EXAM PAPER 11. ALL ANSWERS MUST BE WRITTEN IN PEN. PENCILS MAY BE USED ONLY FOR DRAWING, SKETCHING OR GRAPHICAL WORK. 12. THIS PAPER MAY BE RETAINED BY THE CANDIDATE Please see over pfJ ANSWER ALL SIX QUESTIONS REMINDER: When performing statistical tests, always state the null and alternative hypotheses, the test statistic and it's distribution under the null hypothesis, the level of significance and the conclusion of the test. Question 1. (10 Marks). (i) What are the distinctive features of 'panel data' compared to 'cross-section' data? Explain. (2 marks). (ii) In the model: price = /3 0 + /3 1area + /32bdrms + /33 area x bdrms + u what is the partial effect of bdrms on price? (2 marks). (iii) What is the 'p-value' for a test statistic? SHAZAM reported the p-value for a test was 0.022; should I therefore reject the null hypothesis at the 1% level of significance? (2 marks) (iv) Consider the following regression model explaining child birthweight (bwght): bwght = /3 0+ /3 1cigs + /3 2f amine + u where cigs=average number of cigarettes the mother smoked per day during pregnancy and faminc=family income. In the sample of data I do not have a measure of family income. One option is to find a 'proxy variable' for family income. What are the desirable properties of a proxy variable? Suggest...
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...Financial Management Pillar Strategic Level Paper 19 November 2008 – Wednesday Morning Session Instructions to candidates You are allowed three hours to answer this question paper. You are allowed 20 minutes reading time before the examination begins during which you should read the question paper and, if you wish, highlight and/or make notes on the question paper. However, you will not be allowed, under any circumstances, to open the answer book and start writing or use your calculator during the reading time. You are strongly advised to carefully read ALL the question requirements before attempting the question concerned (that is all parts and/or subquestions). The question requirements are highlighted in a dotted box. ALL answers must be written in the answer book. Answers or notes written on the question paper will not be submitted for marking. Answer the ONE compulsory question in Section A on pages 2 to 5. The question requirements are on page 5, which is detachable for ease of reference. Answer TWO of the four questions in Section B on pages 8 to 15. Maths Tables and Formulae are provided on pages 17 to 21. These pages are detachable for ease of reference. The list of verbs as published in the syllabus is given for reference on the inside back cover of this question paper. Write your candidate number, the paper number and examination subject title in the spaces provided on the front of the answer book. Also write your contact ID and name in the space provided in the...
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...Analyze of House Prices - II HRM 590: Human Resources Management Instructor: Ayman Talib Student: Mariane Sophia Aguiar da Silva Date of submission: 02/24/2012 TABLE OF CONTENTS I. EXECUTIVE SUMMARY II. INTRODUCTION III. ANALYSIS AND METHODS SECTION IV. CONCLUSION AND SUMMARY V. REFERENCES VI. APPENDIX I. EXECUTIVE SUMMARY How can we predict the price of a house? Which variables do we need to take in consideration for it? In this case we analyze 108 houses with 10 independent variables where we try to build an equation using the right variables that had influence in the value of the house. This equation can be used to price a house or to check if the value asked if the right one. According to the results for this study we could find 9 variables that could determine the house price. The R squared value is 83,61% and means that the 9 variables explain about 83,61%of the total variation in predict the houses prices in Eastiville, Oregon. The 9 variables that affect the house price are SQFT, Beds, Heat, Style1, School, Fire, Garage, Age and Basement. It was interesting to see that SQ ft, Garage and Age are strong variables in how to determine the house price. For every one unit increase in the sq ft of the house the price goes up by + 0.0426719. For every one unit increase in beds the prices go up by + 2.87351. For every one unit increase in heat the price goes down by - 12.1327. For every one unit increase in garage the price goes up by...
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...Project 4 Written Outline Even in this economy it is still better to buy a home then rent. I. Why pay rent and make the landlord richer when you can own your own home for basically the same monthly payment and reap the tax benefits yourself. II. In 2006 I was faced with having to make the decision to buy or rent. After researching found I could buy a 4 bedroom house in a good area for same price of renting a 2 bedroom apartment. Also working for the government I knew the tax advantages I would get so I don’t have to tell you which decision I went with. III. Today I am going to show you that buying a house is a better choice then renting even in this unstable economy. IV. There are many programs that help people purchase a home. First time homebuyers even with bad credit can qualify. Do you know where to look? I will provide you with some internet sights that can be of assistance. V. There are many reasons why home buying is better than renting; the few that I will talk about are 1. Long term buying costs less on a yearly basis then renting. 2. Good financial investment and low interest rates and 3. Tax advantages Now that we are coming to a close on the semester some of you are going to be faced with the decision upon graduation as to whether you should buy or rent. I. If you have already decided that you will be staying in a certain area for at least 7 years it is shown that buying is cheaper than renting. a. On April...
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...In Partial Fulfillment for the requirements in SCIENCE I “Makabuhay and Chili Extract: A household Insecticide” Investigatory Project Table of Contents Chapter I A. Background of the study B. Statement of the Problem C. Significance of the study D. Scope and Limitations of the study Chapter II A. Review of Literature B. Hypothesis C. Definition of Terms Chapter III A. Research Design B. Materials C. Procedure Chapter I: Introduction A. Background of the Study: Nowadays, people depend on the commercial insecticides that are expensive and less effective. Based on my research that the Makabuhay and Chili Extract can be substituted as an insecticide in our house. This study uses the extract of Chili and Makabuhay plant to control pests in our house. The Makabuhay extract contains bitterness and the Chili produce spicy like taste and smell; it is possible that this taste and smell is somewhat offensive to the Insects. An ant lives everywhere on land, being the most numerous in insect species. They live on underground and create those earthier mounds. Some lives on trees and some on hollow parts of certain plants. They can be considered as a menace in our kitchen and dining hall. Cockroaches have been a problem to many of us. They may contaminate our food with the filth they carry, and causes sickness. And it's so hard avoiding these things because they come and go whenever, wherever. These insects are...
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...factors, including price increases or decreases, cause changes in supply and demand. An incremental decrease in the rental price led to a huge increase in the demand for houses. Similarly, an increase in the rental price of two roomed apartments caused a decrease in the demand of houses by a significant margin. Suppliers were willing to supply more houses at higher prices and fewer ones at reduced rents (McDowell et al., 2006). A rise in the population of Atlantis led to a greater demand for housing which in turn contributed to the rise in rental prices as demand-outstripped supply. As a consequence, the suppliers were eager to supply more units at improved rental prices. When the population decreased, the demand for housing fell and the available units were leased out at low prices. Naturally, the suppliers were not very keen to supply all their units to the market at depressed prices. Available substitutes affect the demand and supply of a commodity. A number of people in Atlantis owned homes in the suburbs and did not need to rent houses in the town. The demand for houses dropped and this forced the suppliers to cut back on supply or reduce rents in bid to attract more clients. Consumer tastes and preferences affect the supply and demand of goods and services in the market (McDowell et al., 2006). When consumer trends shifted from two roomed apartments to detached houses, the shift in demand for apartments fell while the demand for detached houses rose. As a result...
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...TYRONE V. INOCENTE I. COMPANY PROFILE A. NADIES CHICKEN HOUSE Is a family run business owned by the BASAN family of Tupi, South Cotabato. NADIES is taken from the owner’s name, Zenaida “Nadie” Gonzales Basan. Zenaida’s past time was to cook while taking care of her children and waiting for her husband to come home from work. Nadies started as a small restaurant in front of their house in Tupi. There were only a few tables then, but the restaurant was clean and had a pleasant surrounding. Nadies offered delectable food at a reasonable price and efficiently served hot and fresh by the owner. Over the years, Nadies Chicken House has established its name in the local food industry and has gained the loyalty and trust of the customers. To accommodate the growing number of customers in the region, they opened an outlet in General Santos City on June 28, 2002 and another outlet in Tacurong City last February 2009. They opened their branch here in Koronadal City on September 9, 2010. They also have branches located in KCC Mall General Santos and SM Mall of Gensan and SM Mall of Davao. B. MANG INASAL Is a barbeque fastfood restaurant chain in the Philippines established in Iloilo City in 2003. It is one of the fastest growing food companies in the country specializing in grilled chicken. The company was started by Edgar Sia II, a young enterprising architect who owned his first business at the age of twenty. He engaged...
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...Allowances A I. II. III. llowance is a fixed monetary amount paid by the employer to the employee (over and above basic salary) for meeting certain expenses, whether personal or for the performance of his duties. These allowances are generally taxable and are to be included in gross salary unless specific exemption is provided in respect of such allowance. For the purpose of tax treatment, we divide these allowances into 3 categories: Fully taxable cash allowances Partially exempt cash allowances Fully exempt cash allowances (vi) (iv) Overtime Allowance When an employee works for extra hours over and above his normal hours of duty, he is given overtime allowance as extra wages. It is fully taxable. (v) Fixed Medical Allowance Medical allowance is fully taxable even if some expenditure has actually been incurred for medical treatment of employee or family. Servant Allowance It is fully taxable whether or not servants have been employed by the employee. (vii) Other allowances There may be several other allowances like family allowance, project allowance, marriage allowance, education allowance, and holiday allowance etc. which are not covered under specifically exempt category, so are fully taxable. I. FULLY TAXABLE ALLOWANCES (i) Dearness Allowance As is clear by its name, this allowance is paid to compensate the employee against the rise in price level in the economy. Although it is a compensatory allowance against high prices, the whole of it is taxable. (ii) City Compensatory...
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...MIDTERM EXAM II - ECON 2311 FALL 2012 This exam is closed-book and closed-notes. You may use your calculator. You have 75 minutes to complete this exam. The total number of points on the exam is 100. The total value for each question is given in brackets. Remember that I will not regrade exams written in pencil, and that all problems with the grade must be brought to my attention before a week after I return the exams. Assumptions and critical values are stated in the appendix. No other formulas will be provided. 1 ˆ I. (18 pts) Consider y = β0 + β1 x1 + . . . + βk xk + u, and let {βj } be the corresponding OLS estimator. Choose between ’True(T)’, or ’False(F)’. (2 pts each) ˆ ˆ 1. If βj is consistent, E[βj ] = βj . 2. Under MLR.1 through MLR.5, the OLS estimator √ ˆ N (βj − βj ) is asymptotically normal. ˆ 3. If M LR.4 is replaced by M LR.4′ , βj is not consistent. 4. Even though MLR.6 is not true, we can use t−statistic when the sample size is large. 5. Changing the scale of the y variable will lead to a corresponding change in R2 . 6. If y is in the logarithmic form, changing the scale of the y variable will lead to a corresponding change in R2 . 7. If y is the family income measured in dollars, then it is mostly used in logarithmic form. 8. Standardized coefficient or equivalently beta coefficient measures the change in y when x is changed by one-standard deviation. 9. In the following model: log(y) = β0 + β1 log(x) + u, β1 is...
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...Profit/Loss Scenario Investment Portfolio Type Mutual Fund Investment Rate Loss Resolute RISK PROFILE Risk Profile Developing Friday, November 25, 11 Friday, November 25, 11 Short Term, less than 1 year (before 2013) Take a family trip for 2012 new year vacation At year 2012, Mr. Bayuningrat and his family went abroad to Australia for his Ph.D program. Medium Term, about 1 until 5 years (following 2013 and before 2018) At year 2015, Mr. Bayuningrat and his family returned to Indonesia after finishing his study. Buy a car at the year 2015. Children education funds. Long Term, more than 5 years (2018 on going) Go to Mecca, Saudi Arabia for religious journey with his wife at the year 2018. Buy a car at the year 2025. Buy a house estate at the year 2026. Enroll Malik and Mikail into Junior High School, Public High School, and Public Universtiy. Pension Fund LIST OF PLAN Friday, November 25, 11 CASH FLOW INCOME Salary Other...
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