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

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.

scholarly journals Exotic Forest Insects and Residential Property Values

2006 ◽  
Vol 35 (1) ◽  
pp. 155-166 ◽  
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.

Pavement Condition and Residential Property Values: A Spatial Hedonic Price Model for Solano County, California

2018 ◽  
Vol 23 (3) ◽  
pp. 243-261
Author(s):  
Kihwan Seo ◽  
Deborah Salon ◽  
Fraser Shilling ◽  
Michael Kuby
Keyword(s):  
Property Values ◽  
Residential Property ◽  
Hedonic Price ◽  
Property Value ◽  
Pavement Condition ◽  
Traffic Conditions ◽  
Travel Experience ◽  
Residential Property Value ◽  
Transportation Agencies ◽  
The Relationship

Transportation agencies invest billions of dollars every year in resurfacing roadways, ostensibly to improve the travel experience. When locally funded, one justification for increased expenditure on the pavement surface is that it could increase property values. We evaluated this approach directly, using hedonic regression to estimate the relationship between pavement condition and residential property value in Solano County, California. We hypothesized that improving pavement condition would positively affect property values in two ways: directly as an indicator of neighborhood blight and indirectly through its effect on traffic conditions and noise. We estimated this relationship for the County as a whole and for each city within the County, controlling for spatial autocorrelation. The estimated relationship is small in magnitude and often not statistically significant. Although there are certainly reasons to improve pavement condition, our results suggest that increasing property value may not be one of them.

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

2010 ◽  
Vol 39 (1) ◽  
pp. 101-113 ◽  
Author(s):  
John B. Braden ◽  
Xia Feng ◽  
Luiz Freitas ◽  
DooHwan Won
Keyword(s):  
Great Lakes ◽  
Census Data ◽  
Meta Analysis ◽  
Property Values ◽  
Property Value ◽  
Hedonic Property ◽  
Areas Of Concern ◽  
The Cost ◽  
Home Values

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.

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

2007 ◽  
Vol 67 (4) ◽  
pp. 849-883 ◽  
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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