scholarly journals Impact of public water supply unreliability on residential property prices in Marion County, West Virginia

2021 ◽  
pp. 1-25
Author(s):  
Fahad Alzahrani ◽  
Alan R. Collins
Keyword(s):  
Water Supply ◽  
Housing Prices ◽  
Single Family ◽  
Residential Housing ◽  
Marion County ◽  
Residential Properties ◽  
Aging Infrastructure ◽  
Public Water Systems ◽  
One Year ◽  
Negative Relationships

Abstract Water supply unreliability in many public water systems stems from aging infrastructure. We measure unreliability by the issuance of boil water notices (BWNs) within one year prior to single-family residential sale observations. Using a spatial quantile regression framework on transactions between 2012 and 2017, we find statistically significant, negative relationships between BWNs and residential properties. The estimated impacts of unreliability on residential housing prices, however, are not uniform across the distribution of prices. Specifically, we find that BWNs have a larger impact on medium- to low-priced houses (at or below the 60 percent quantile) compared with high-priced houses. An aggregate marginal willingness-to-pay value of $4.2 million was computed for a one-day reduction in annual BWN throughout Marion County.

The association between residential housing prices, bicycle infrastructure and ridership volumes

Urban Studies ◽  
2020 ◽  
pp. 004209802092603
Author(s):  
Lindsey Conrow ◽  
Siân Mooney ◽  
Elizabeth A Wentz
Keyword(s):  
Traffic Congestion ◽  
Housing Prices ◽  
Property Tax ◽  
Single Family ◽  
Sale Price ◽  
Residential Housing ◽  
Local Public Finance ◽  
Bicycle Infrastructure ◽  
Home Values ◽  
The Relationship

City officials and planners have shown increased interest in pedestrian- and bicycle-friendly designs aimed at addressing urban problems such as traffic congestion, pollution, sprawl and housing availability. An important planning consideration is the economic impact associated with existing or planned infrastructure, especially in relation to home property values. In this study, we use measures of infrastructure and ridership to evaluate the relationship between bicycling infrastructure and activity and single-family home values in Tempe, Arizona. We apply a hedonic modelling approach and find that bicycle infrastructure density is positively associated with home sale price, while ridership density around home locations has no significant relationship with sale price. Our results inform discourse related to the potential economic values of residential bicycle infrastructure, especially in areas where property tax is a source of local public finance revenue. We show that the characteristics of bicycle-friendly design may be the same characteristics valued by homebuyers and the resulting increased home sale values may lead to increased property tax revenue in Tempe, Arizona.

The influence of privately initiated rezoning on housing prices

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jeffrey G. Robert ◽  
Velma Zahirovic-Herbert
Keyword(s):  
Housing Prices ◽  
Housing Price ◽  
Quantitative Information ◽  
Single Family ◽  
Residential Housing ◽  
Content Type ◽  
Price Effects ◽  
Family Housing ◽  
Residential Use ◽  
The Impact

Purpose The purpose of this paper is to evaluate the parcel-level impacts of the zoning change. Design/methodology/approach Using hedonic regression and propensity score matching econometric techniques, this paper analyses single-family housing prices within Fulton County Georgia. This paper combines data on the parcel-level zoning changes with nearby housing sales transactions to study the potential externality effects because of rezoning induced by private parties. Findings The paper finds evidence of heterogeneous rezoning effects, depending upon the type of rezoning conducted. At a distance within 0.75 miles, housing prices appreciate by 8.31% when nearby privately initiated rezoning maintains the residential character of a neighbourhood. However, housing prices decline by 21.26% when residential housing zones are converted to non-residential housing zones. The negative influences of rezoning residential use to non-residential uses decline as distance increases. Originality/value The analysis provides quantitative information on the impact of rezoning on residential property prices. Planning officials and developers can use these results to assuage homeowner fears of potential negative housing price effects associated with rezoning.

Bankruptcy filings, flooding, real estate prices and Leading Index

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Billie Ann Brotman
Keyword(s):  
Housing Prices ◽  
The United States ◽  
Flood Insurance ◽  
Single Family ◽  
Personal Bankruptcy ◽  
Content Type ◽  
Independent Variables ◽  
Flooding Event ◽  
Flooding Events ◽  
The Impact

PurposeFlood damage to uninsured single-family homes shifts the entire burden of costly repairs onto the homeowner. Homeowners in the United States and in much of Europe can purchase flood insurance. The Netherlands and Asian countries generally do not offer flood insurance protection to homeowners. Uninsured households incur the entire cost of repairing/replacing properties damaged due to flooding. Homeowners’ policies do not cover damage caused by flooding. The paper examines the link between personal bankruptcy and the severity of flooding events, property prices and financial condition levels.Design/methodology/approachA fully modified ordinary least squares (FMOLS) regression model is developed which uses personal bankruptcy filings as its dependent variable during the years 2000 through 2018. This time-series model considers the association between personal bankruptcy court filings and costly, widespread flooding events. Independent variables were selected that potentially act as mitigating factors reducing bankruptcy filings.FindingsThe FMOLS regression results found a significant, positive association between flooding events and the total number of personal bankruptcy filings. Higher flooding costs were associated with higher bankruptcy filings. The Home Price Index is inversely related to the bankruptcy dependent variable. The R-squared results indicate that 0.65% of the movement in the dependent variable personal bankruptcy filings is explained by the severity of a flooding event and other independent variables.Research limitations/implicationsThe severity of the flooding event is measured using dollar losses incurred by the National Flood Insurance program. A macro-case study was undertaken, but the research results would have been enhanced by examining local areas and demographic factors that may have made bankruptcy filing following a flooding event more or less likely.Practical implicationsThe paper considers the impact of the natural disaster flooding on bankruptcy rates filings. The findings may have implications for multi-family properties as well as single-family housing. Purchasing flood insurance generally mitigates the likelihood of severe financial risk to the property owner.Social implicationsNatural flood insurance is underwritten by the federal government and/or by private insurers. The financial health of private property insurers that underwrite flooding and their ability to meet losses incurred needs to be carefully scrutinized by the insured.Originality/valuePrior studies analyzing the linkages existing between housing prices, natural disasters and bankruptcy used descriptive data, mostly percentages, when considering this association. The study herein posits the same questions as these prior studies but used regression analysis to analyze the linkages. The methodology enables additional independent variables to be added to the analysis.

scholarly journals Teoretyczne i metodyczne aspekty wyznaczania indeksów cen na rynku mieszkaniowym

2018 ◽  
Author(s):  
Radosław Trojanek
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Real Estate Market ◽  
Secondary Market ◽  
Property Right ◽  
Sources Of Information ◽  
Single Family ◽  
Starting Point ◽  
Price Indexes

In the book, an attempt was made to catalogue knowledge concerning the importance of research into the dynamics of housing prices for social and economic development. The analysis of the experience of countries with well-developed real estate markets in the aspect of building price indexes was carried out. Based on original databases of asking and transaction prices, price indexes were built, which were then subjected to numerous resistance tests. The aims of these research tasks were as follows: 1) to examine the quality of offers for sale as a source of information about changes in the real estate market, 2) to find out whether the repeat sales method can be used for building price indexes and to critically assess this method in terms of the stability of the obtained results, 3) to analyze hedonic methods and indicate the preferred one in terms of the ratio of the quality of results to how time-consuming and cost-intensive it is to build such indexes, 4) to establish the importance of methods and sources of information for building price indexes in different time horizons, 5) to identify how important it is for the fluctuation of price indexes if the cooperative property right to a flat is not taken into account. In order to perform the research tasks and accomplish the goals scopes of the work were defined. The subject followed the aim of the study and refers to prices in the secondary housing market, encompassing both the property right and cooperative property right to a flat or house. The broad scope concerns the discussion in the general part, being narrowed down to the secondary market of flats located in multi-family and single-family buildings. The time scope covers the years 2000-2015, which is connected to the range of empirical studies carried out. They focused both on actual transactions and on offers of flats for sale. On this basis, we built databases which served as the starting point for further analyses. The study involved transactions and offers in the area of Poznan.

scholarly journals Review of sustainable solar powered water supply system design approach by Water Mission Malawi

2019 ◽  
Vol 14 (4) ◽  
pp. 749-763
Author(s):  
B. Longwe ◽  
M. Mganga ◽  
N. Sinyiza
Keyword(s):  
Water Supply ◽  
Rural Areas ◽  
Monitoring And Evaluation ◽  
Design Approach ◽  
Power Requirement ◽  
Extensive Experience ◽  
Advantages And Disadvantages ◽  
To Come ◽  
Solar Powered ◽  
One Year

Abstract Water Mission's extensive experience in designing, constructing and supporting solar-powered pumping solutions demonstrates the technological viability and cost effectiveness for delivering safe water to people, particularly in rural areas. Water Mission follows a unique design approach that uses conventional but relatively unique engineering specifications in terms of hydraulics, power requirement, water treatment and distribution, having tested them in different geographical environments. Water Mission incorporates a community-managed sustainability model into the design to ensure a longer life span for the project by promoting a well-defined maintenance and sustainability plan. This approach was applied to ten projects in 2015 in Kasungu, Lilongwe and Blantyre districts where installation, monitoring and evaluation were done and subjected to Water Mission's standards for qualification to hand them over to the beneficiary communities at the end of one year post installation. The paper is a review and discussion of the steps that Water Mission follows in its design process to come up with a sustainable project with solar energy. The paper also illustrates the non-compromise stand by Water Mission when it comes to the hand-over criteria for its projects by following and respecting the results of the prescribed evaluation test. It highlights detailed advantages and disadvantages of the design approach and presents recommendations. It is concluded that the approach can be replicated elsewhere in Malawi as a solution to water supply.

scholarly journals Applying Comparable Sales Method to the Automated Estimation of Real Estate Prices

2020 ◽  
Vol 12 (14) ◽  
pp. 5679 ◽  
Author(s):  
Yunjong Kim ◽  
Seungwoo Choi ◽  
Mun Yong Yi
Keyword(s):  
Real Estate ◽  
Traditional Approach ◽  
Housing Prices ◽  
Capital City ◽  
Housing Type ◽  
Residential Housing ◽  
Machine Learning Approach ◽  
Price Estimation ◽  
Real Estate Prices ◽  
Current Price

In this paper, we propose a novel procedure designed to apply comparable sales method to the automated price estimation of real estates, in particular, that of apartments. Apartments are the most popular residential housing type in Korea. The price of a single apartment is influenced by many factors, making it hard to estimate accurately. Moreover, as an apartment is purchased for living, with a sizable amount of money, it is mostly traded infrequently. Thus, its past transaction price may not be particularly helpful to the estimation after a certain period of time. For these reasons, the up-to-date price of an apartment is commonly estimated by certified appraisers, who typically rely on comparable sales method (CSM). CSM requires comparable properties to be identified and used as references in estimating the current price of the property in question. In this research, we develop a procedure to systematically apply this procedure to the automated estimation of apartment prices and assess its applicability using nine years’ real transaction data from the capital city and the most-populated province in South Korea and multiple scenarios designed to reflect the conditions of low and high fluctuations of housing prices. The results from extensive evaluations show that the proposed approach is superior to the traditional approach of relying on real estate professionals and also to the baseline machine learning approach.

Traffic congestion, accessibility to employment, and housing prices: A study of single-family housing market in Los Angeles County

Urban Studies ◽  
2016 ◽  
Vol 54 (15) ◽  
pp. 3423-3445 ◽  
Author(s):  
Yuting Hou
Keyword(s):  
Los Angeles ◽  
Traffic Congestion ◽  
Housing Prices ◽  
House Price ◽  
Hedonic Price ◽  
Single Family ◽  
Middle Income ◽  
Family House ◽  
Marginal Price ◽  
Congestion Effects

This study mainly addresses two main questions: (1) whether traffic congestion negatively affects single-family house price by constraining accessibility to jobs; (2) whether congestion effects and accessibility effects vary by income groups within a metropolitan area. This study uses a multilevel hedonic price model to estimate the marginal price of accessibility while controlling for other neighbourhood attributes and the correlation of proximal housing sales. The congestion effects are identified by comparing the implicit price of accessibility between congested-flow and free-flow. The results show that the accessibility measured with congested time yields higher marginal price, suggesting that households are willing to pay more to avoid locations with high congestion delays and accessibility loss. The results also suggest that accessibility effects are more valued by homebuyers in middle-income neighbourhoods, compared with those in the lowest or highest income neighbourhoods.

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