Announcing a major revision, mathestate now provides two new features. Under the Financial section users can download custom software in the form of Mathematica notebooks. For Real Estate, mathestate now points users to the Wolfram Demonstrations Project. Users can download free MathPlayer from Wolfram Research and run any mathestate demonstration on the Wolfram site.

Free Financial Market Analysis Software is now available in the Financial section. This software uses an entirely new measure of risk.

Hugh Kelly, CRE, Clinical Associate Professor of Real Estate at The Real Estate Institute of New York University publishes a review of Private Real Estate Investment in Volume 3, No. 90 of The Real Estate Review of NYU.

The book, Private Real Estate Investment, that accompanies mathestate.com is now available from Academic Press. A description of the contents may be found under Resources link on the mathestate.com home page.

Responding to concerns that real estate prices may be in a "bubble" condition, a mathestate tutorial explains how investors and lenders determine the maximum expansion of a bubble. A demonstration assists in determining if the user's transaction or market is nearing the end of a bubble period and how investors anticipate the next level of growth.

Using non-normal stable random numbers, a mathestate tutorial now demonstrates a host of investment "frontiers" (efficient or not) in risk-reward space.

mathestate adds tools that estimate non-normal, Stable distributions. Users can now model tail behavior by specifying Stable parameters using a Mathematica notebook. An expanded discussion of this subject, including a "live" demonstration with financial data, may be found in the Financial section.

Users can now upload their own data, permitting them to analyze market information they have collected from any source using the many econometric tools provided at mathestate.

mathestate launches the most sophisticated real estate investment analysis site available. The first ten tools include: a precise measure of the value of a tax deferred exchange, using a variable holding period to reflect best and worst case returns, partitioning the IRR to distinguish investing from speculating, a way to measure location value and determine the path of progress, a tutorial on non-symmetric probabilities and a way to measure how "honest" a capitalization rate is.