Meta-Functional Transfer of Hedonic Property Values: Application to Great Lakes Areas of Concern

This paper explores the use of functional benefits transfer to forecast the effects of waste sites on property values. The results of a meta-analysis of hedonic studies of waste sites are coupled with spatial analysis techniques to produce estimates of the effects of toxic contamination in Areas of Concern (AOCs) in the U.S. Great Lakes. Based on U.S. Census data for median home values, the methods used here suggest that approximately S5.2 billion (2005 dollars) have been lost in residential property values surrounding twenty-three of the AOCs. This compares to estimates that place the cost of remediation of all U.S. AOCs at up to $4.5 billion (2005 dollars). The case study also identifies issues surrounding the use of a meta-analysis with hedonic property value studies to support functional transfer.

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Exotic Forest Insects and Residential Property Values

Agricultural and Resource Economics Review ◽

10.1017/s1068280500010121 ◽

2006 ◽

Vol 35 (1) ◽

pp. 155-166 ◽

Cited By ~ 24

Author(s):

Thomas P. Holmes ◽

Elizabeth A. Murphy ◽

Kathleen P. Bell

Keyword(s):

Property Values ◽

Residential Property ◽

Property Value ◽

Negative Effects ◽

Control Programs ◽

Potential Control ◽

Hemlock Decline ◽

Hedonic Property ◽

Residential Property Values

This paper presents a case study of the economic damages to homeowners in a northern New Jersey community due to an exotic forest insect—the hemlock woolly adelgid. Hedonic property value methods are used to estimate the effect of hemlock health on property values. A statistically significant relationship between hemlock health and residential property values is established. Moreover, there are some signs of spillover impacts from hemlock decline, as negative effects are realized on the parcels where the declining hemlock stands are located as well as on neighboring properties. These results give some indication of the benefits of potential control programs and strategies and also show support for community- or neighborhood-based programs in residential settings.

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Recruiting, integrating, and sustaining stakeholder participation in environmental management: A case study from the Great Lakes Areas of Concern

Journal of Environmental Management ◽

10.1016/j.jenvman.2018.09.081 ◽

2019 ◽

Vol 230 ◽

pp. 422-433 ◽

Cited By ~ 7

Author(s):

Ryan Holifield ◽

Kathleen C. Williams

Keyword(s):

Environmental Management ◽

Great Lakes ◽

Stakeholder Participation ◽

Areas Of Concern

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PCN198 FRACTIONAL POLYNOMIAL MODELS FOR NETWORK META-ANALYSIS OF SURVIVAL DATA IN ECONOMIC EVALUATIONS: A CASE-STUDY ON THE COST-EFFECTIVENESS OF FULVESTRANT IN PREVIOUSLY-TREATED POSTMENOPAUSAL, OESTROGEN RECEPTOR-POSITIVE ADVANCED BREAST CANCER

Value in Health ◽

10.1016/j.jval.2019.09.394 ◽

2019 ◽

Vol 22 ◽

pp. S474

Author(s):

H. Burton ◽

R. Harvey

Keyword(s):

Breast Cancer ◽

Survival Data ◽

Oestrogen Receptor ◽

Meta Analysis ◽

Economic Evaluations ◽

Fractional Polynomial ◽

Previously Treated ◽

Polynomial Models ◽

The Cost

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How Energy Retrofit Maintenance Affects Residential Buildings Market Value?

Sustainability ◽

10.3390/su12125213 ◽

2020 ◽

Vol 12 (12) ◽

pp. 5213 ◽

Cited By ~ 2

Author(s):

Umberto Mecca ◽

Giuseppe Moglia ◽

Paolo Piantanida ◽

Francesco Prizzon ◽

Manuela Rebaudengo ◽

...

Keyword(s):

Residential Buildings ◽

Property Values ◽

Market Value ◽

Cost Effective ◽

Real Estate Market ◽

Energy Retrofit ◽

Reference Framework ◽

The Cost ◽

Italian Legislation

By now, it is clear the built environment could play an important role in fighting climate change, since it accounts for around 39% of global energy-related carbon emissions. Generally speaking, Italian residential stock is over 50 years old and around 16% of that needs large interventions due to its poor maintenance condition. So, the maintenance in this context can play a pivotal role in acheiving both energy efficiency and asset valorization. Introduced by a reference framework for the question in the title, this paper presents the case study: a portion of a working-class neighborhoods near the metropolitan city of Turin, marked by very recurrent typologies for the period (early seventies). The local real estate market is discussed to investigate the extraordinary maintenance impact on the property values: the paper considers the market value increase due to the energy class upgrade and the external look improvement. Individual owners putting money on this group of works get a very cost-effective investment and take advantage of Italian legislation supporting these kinds of interventions: the whole is greater than the sum of its parts and in turn greater than the cost assumed for the renovation work.

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The Economic Aftermath of the 1960s Riots in American Cities: Evidence from Property Values

The Journal of Economic History ◽

10.1017/s0022050707000423 ◽

2007 ◽

Vol 67 (4) ◽

pp. 849-883 ◽

Cited By ~ 55

Author(s):

William J. Collins ◽

Robert A. Margo

Keyword(s):

Census Tract ◽

Census Data ◽

Central City ◽

Property Values ◽

Residential Property ◽

Property Value ◽

The 1960S ◽

American Cities

In the 1960s many American cities experienced violent, race-related civil disturbances. This article examines census data from 1950 to 1980 to measure the riots' impact on the value of central-city residential property, and especially on black-owned property. Both OLS and IV estimates indicate that the riots depressed the median value of black-owned property between 1960 and 1970, with little or no rebound in the 1970s. Census tract data for a small number of cities suggest relative losses of population and property value in tracts that were directly affected by riots compared to other tracts in the same cities.

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Assessing the Role of Integrated Research and Monitoring Tools in Remediation Efforts at Great Lakes‐St. Lawrence River Basin Areas of Concern: A Case Study of the Bay of Quinte Remedial Action Plan

Inquiry@Queen's Undergraduate Research Conference Proceedings ◽

10.24908/iqurcp.7464 ◽

2017 ◽

Author(s):

Michelle Berquist

Keyword(s):

Great Lakes ◽

Action Plan ◽

The United States ◽

Remedial Action ◽

Structured Interviews ◽

Aquatic Life ◽

Areas Of Concern ◽

Remedial Action Plan

In accordance with the Great Lakes Water Quality Agreement, the governments of Canada and the United States have agreed to support the remediation of 43 Areas of Concern (AOC) where “failure [to meet objectives of the agreement] has caused or is likely to cause impairment of beneficial use or of the area’s ability to support aquatic life.” A Remedial Action Plan (RAP) has been created for each AOC that outlines how impairments are to be addressed. This presentation will focus on one such plan, the Bay of Quinte RAP, as a case study to explore the role of research and monitoring in realizing the aims of the policy. Results will be based on a literature review encompassing existing works about Great Lakes RAPs, the Bay of Quinte watershed, multi‐party monitoring and the relationship between science and policy, along with semi‐structured interviews with project leaders and community stakeholders to determine how practice at the Bay of Quinte compares to theory and to practice at other Areas of Concern. The results will be instructive for any groups planning a multi‐stakeholder undertaking particularly those involved in any of the 40 other RAPs still underway on our Great Lakes.

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The implicit value of tree cover in the U.S.: A meta-analysis of hedonic property value studies

Ecological Economics ◽

10.1016/j.ecolecon.2016.04.016 ◽

2016 ◽

Vol 128 ◽

pp. 68-76 ◽

Cited By ~ 16

Author(s):

Shyamani D. Siriwardena ◽

Kevin J. Boyle ◽

Thomas P. Holmes ◽

P. Eric Wiseman

Keyword(s):

Meta Analysis ◽

Tree Cover ◽

Property Value ◽

Hedonic Property ◽

Hedonic Property Value ◽

The U.S

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Case study of property value transfer attributed to transit: spatial and temporal hedonic price impact of light rail in Minnesota’s Twin Cities

Journal of Public Transportation ◽

10.5038/2375-0901.23.1.2 ◽

2021 ◽

Vol 23 (1) ◽

Author(s):

Kate Ko

Keyword(s):

Saint Paul ◽

Property Values ◽

Price Impact ◽

Twin Cities ◽

Residential Property ◽

Light Rail ◽

Hedonic Price ◽

Property Value ◽

Value Transfer

Does the proximity of transit increase property values, and can one example apply to another? Using a spatial and temporal hedonic price framework, a study of light rail transit’s impact on residential property values compares the station area property impacts of the Green and Blue lines in Saint Paul and Minneapolis. The study also points to when “value transfer” (used here to describe the comparison and application of property value impacts near transit) is appropriate, and what practitioners should keep in mind to maximize the effectiveness of the exercise. In the case of value transfer for transit, the study finds that intimate local knowledge matters more than special modeling specifications to appropriately capture the impacted properties and transfer the return of investment.

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