The Effect of National Wildlife Refuge and National Forest Proximity on Prices of Adjacent Residential Properties
Investigators:
Thomas P. Holmes,
Southern Research Station
Kevin Boyle, University of Maine
Andrew Laughland, U.S. Fish and Wildlife Service
Description:
The existence and proximity of public land may enhance the value of private property. As National Wildlife Refuges and National Forests ensure that abutting land will not be developed further, neighboring land may increase in value. Homes not abutting may be near enough to take advantage of outdoor recreational opportunities and viewsheds. On the other hand, deer and other wildlife may wander off refuges and forests and damage landscapes and gardens. Economic techniques have been developed to estimate how these factors affect the sale prices of properties. These "hedonic" techniques use characteristics of the lot, house, community and sales transactions to tease out the effects of a refuge or forest on property sale prices.
This study will apply hedonic techniques to three National Wildlife Refuges and one National Forest as a pilot study to test whether an effect of refuge/forest presence on price can be measured with this technique. Spatial "neighborhood" effects will be explicitly investigated.
Problem Area(s):
Rural development,
Landscape/stand models
Status:
Ongoing
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modified:
13-MAR-2000
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USDA FS SRS
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