The Inwood Premise

[Stephen J. Vertin MAI]

Ok, here is something I can find little on. Who was Inwood? What was his first name? Was he an actual person or was this just a rate extraction method used by a certain institution?. I could not even find a first name in The Appraisal of Real Estate under word search. Any input would help. Further, at least where I looked Google was not helpful either. As always greatly appreciated.

 

[Mark K]

. Who was Inwood?

You might start here...

https://www.amazon.com/dp/1332938825/?tag=realestatappraat&tag=realestatappraat

 

[Pittsburgh Pete]

I believe it is William Inwood and he was an 19th Century architect

 

[Rick Kulman]

See the 14th edition...page 759.
It deals with the present value of a level annuity

 

[Stephen J. Vertin MAI]

I am not sure if William Inwood the architect and William Inwood the fellow who put together the valuation of real estate interests are the same guy. I saw that too in my research. It is hard to say. But their lives seem fairly different.

The stuff I am reading seems to be saying Inwood took what later became the 6 functions of the dollar from a guy named John Smart. The reason Smart's book did not do well (as Inwood's who had 26 editions) was because it was to complicated for the average banker, financer, insurance agent and so on in the day.

Anyway he (meaning Inwood) was a real man. Now all I have to do is find out who "Hoskold" is or was.

Everything you use in current real estate finance is over 100-years old. Even DCF was developed by Irving Fisher in 1906.

 

[Red Flint]

William Inwood, 1771-1843, English architect mathmetician, and compiler of Tables for the Purchasing of Estates and for the Renewals of Leases held under corporate bodies (1811). Inwood annuity, using present worth factors (Inwood coefficients) of streams of level income capitalized with an Inwood factor (coefficient). An Inwood factor also known as Inwood coefficient is one of the six classic functions of a dollar.

 

[Stephen J. Vertin MAI]

Rick:

Thanks for the data. I know what the theory is about, I am just trying to find out who these guys were and what they thought. It is amazing the amount of group think occurring at the time. Most of the guys plagiarized the crap out of each other. I am serious as a heart attack. I actually have been going back and reading these books.

 

[Stephen J. Vertin MAI]

William Inwood, 1771-1843, English architect mathmetician

Cant argue with anything you say except the architect stuff. The William Inwood (the architect) designed churches. What is your source?

 

[Meandering]

Here Steve

https://en.wikipedia.org/wiki/William_Inwood

 

[Stephen J. Vertin MAI]

Marion:

Thanks, it is funny how the brain works. I read this once before my comment and did not see the last 2 sentences where it talked about him writing a book on interest rate tables. As you can see most was about building churches.

Ok were is Terrel when you need him? What is the deal on Henry Davis Hoskold, mining guy who invented some process of mining valuation before DCF. Was he from the US? Any background about him?


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