Noteworthy Valuation-Related Papers from the American Real Estate Society Annual Meeting (Notes and Issues‪)‬

The Twenty-First Annual American Real Estate Society (ARES) Meeting was held in Santa Fe, New Mexico, on April 13-16, 2005. This year, 160 papers and eight panels were presented by academicians, PhD students, and researchers, as well as by practitioners from the "real world" Similar to last year's research, one out of four papers was presented by authors from outside the United States. The presentations covered a vast array of real estate topics including portfolio management, real estate cycles, housing prices, real estate investment trusts (REITs) and public real estate market dynamics, real estate education, and environmental issues. There were numerous topics of interest to those in the appraisal profession, including expert panels on environmental issues, the housing bubble, expert witness testimony, and the history of real estate economics. This year there was additional focus on housing-related issues, a likely outcome of the robust housing market not only in the United States, but many foreign countries as well. The following is a selection of abstracts of papers presented during the 2005 meeting. Additional information on this year's presentations or next year's meeting can be obtained by visiting the ARES Web site at www.aresnet.org. New Age Retail Tenants: A New Phenomenon