An Hedonic Analysis of the Effects of Lake Water Clarity on New Hampshire Lakefront Properties

Gibbs, Julie P.; Halstead, John M.; Boyle, Kevin J.; Huang, Ju‐Chin

doi:10.1017/s1068280500003464

Cited by 108 publications

(97 citation statements)

References 15 publications

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“…Consistent with previous investigations and for the ease of interpretation [3,14,30,33], water quality was proxied by Secchi depths collected during the summer months from 22 IDEQ monitoring stations throughout the lake. Milfoil data were obtained from a 2014 summary report published by Avista Corporation, which included a comprehensive survey of the occurrence of milfoil in Coeur d'Alene Lake from 2010 to 2014 [23].…”

Section: Datamentioning

confidence: 60%

“…Secchi depth measurements were log transformed because people generally cannot perceive changes in water quality at deep compared to shallow depths [4,30]. To quantify the impacts of milfoil presence and ambient water quality on lakefront property values, separate hedonic models were estimated for the variables pertinent to the presence of milfoil and ambient water quality (Models 1 and 2 in Table 2), and then a combined regression model including both variables was run (Model 3 in Table 2).…”

Section: Model Specificationsmentioning

confidence: 99%

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The Effects of Ambient Water Quality and Eurasian Watermilfoil on Lakefront Property Values in the Coeur d’Alene Area of Northern Idaho, USA

2016

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Amenity value of water resources has become a major driving force of recent population growth in the region centered on Coeur d'Alene Lake in northern Idaho, USA. Despite regulatory measures aimed to protect lake water quality, surface water quality is increasingly threatened by lakefront development and invasions of Eurasian watermilfoil (Myriophyllum spicatum), a non-indigenous aquatic plant species. We used hedonic modeling to estimate the effects of ambient water quality and the presence of Eurasian watermilfoil on lakefront property values of single-family homes in the Coeur d´Alene area. We find that property values are positively associated with Secchi depth (a proxy of water quality or clarity), and negatively related to the presence of watermilfoil. Results of spatial regime analysis indicate the geographical variations of these associations. The presence of watermilfoil was related to a 13% decline in mean property value, corresponding to $64,255 USD, on average, lower property sales price. Our study demonstrates that proactive mitigation approaches to cope with potential environmental degradation in lake ecosystems could have significant economic benefits to owners of lakefront properties and local communities.

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Section: Datamentioning

confidence: 60%

Section: Model Specificationsmentioning

confidence: 99%

The Effects of Ambient Water Quality and Eurasian Watermilfoil on Lakefront Property Values in the Coeur d’Alene Area of Northern Idaho, USA

2016

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“…Numerous studies have found a relationship between the sale price of single-family residential properties and water quality (Gibbs et al, 2002;Laggett and Bockstael, 2000;Poor et al, 2007;Bin and Czajkowski, 2013). Water quality parameters that were most likely to be perceived by residents were selected for our analysis.…”

Section: Perception: Relationship Between Property Sale Prices and Wamentioning

confidence: 99%

Relationships between environmental governance and water quality in a growing metropolitan area of the Pacific Northwest, USA

Chang

Thiers

Netusil

et al. 2014

Hydrol. Earth Syst. Sci.

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Abstract. We investigate relationships between environmental governance and water quality in two adjacent growing metropolitan areas in the western US. While the Portland, Oregon and Vancouver, Washington metro areas share many common biophysical characteristics, they have different land development histories and water governance structures, providing a unique opportunity for examining how differences in governance might affect environmental quality. We conceptualize possible linkages in which water quality influences governance directly, using monitoring efforts as a metric, and indirectly by using the change in the sale price of single-family residential properties. Governance may then influence water quality directly through riparian restoration resulting from monitoring results and indirectly through land use policy. We investigate evidence to substantiate these linkages. Our results showed that changes in monitoring regimes and land development patterns differed in response to differences in growth management policy and environmental governance systems. Our results also showed similarities in environmental quality responses to varying governance systems. For example, we found that sales prices responded positively to improved water quality (e.g., increases in DO and reductions in bacteria counts) in both cities. Furthermore, riparian restoration efforts improved over time for both cities, indicating the positive effect of governance on this land-based resource that may result in improved water quality. However, as of yet, there were no substantial differences across study areas in water temperature over time, despite an expansion of these urban areas of more than 20 % over 24 years.The mechanisms by which water quality was maintained was similar in the sense that both cities benefited from riparian restoration, but different in the sense that Portland benefited indirectly from land use policy. A combination of long-term legacy effects of land development, and a relatively short history of riparian restoration in both the Portland and Vancouver regions, may have masked any subtle differences between study areas. An alternative explanation is that both cities exhibited combinations of positive indirect and direct water quality governance that resulted in maintenance of water quality in the face of increased urban growth. These findings suggest that a much longer-term water quality monitoring effort is needed to identify the effectiveness of alternative land development and water governance policies.

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“…For example, eutrophication in lakes has historically been identified as a cause for appraisal declines in residential property, especially in proximity to the degraded waterbody. In the northeastern USA, a 1.0 m decline in lake water clarity translated to a 1-6% decline in property value (Gibbs et al 2002). Conversely, improvements in water clarity can result in property price increases (Michael, Boyle, and Bouchard 1996).…”

Section: Introductionmentioning

confidence: 99%

Barriers to adopting satellite remote sensing for water quality management

Schaeffer

Keith

et al. 2013

International Journal of Remote Sensing

169

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Sustainable practices require a long-term commitment to creating solutions to environmental, social, and economic issues. The most direct way to ensure that management practices achieve sustainability is to monitor the environment. Remote sensing technology has the potential to accelerate the engagement of communities and managers in the implementation and performance of best management practices. Over the last few decades, satellite technology has allowed measurements on a global scale over long time periods, and is now proving useful in coastal waters, estuaries, lakes, and reservoirs, which are relevant to water quality managers. Comprehensive water quality climate data records have the potential to provide rapid water quality assessments, thus providing new and enhanced decision analysis methodologies and improved temporal/spatial diagnostics. To best realize the full application potential of these emerging technologies an open and effective dialogue is needed between scientists, policy makers, environmental managers, and stakeholders at the federal, state, and local levels. Results from an internal US Environmental Protection Agency qualitative survey were used to determine perceptions regarding the use of satellite remote sensing for monitoring water quality. The goal of the survey was to begin understanding why management decisions do not typically rely on satellite-derived water quality products.

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An Hedonic Analysis of the Effects of Lake Water Clarity on New Hampshire Lakefront Properties

Cited by 108 publications

References 15 publications

The Effects of Ambient Water Quality and Eurasian Watermilfoil on Lakefront Property Values in the Coeur d’Alene Area of Northern Idaho, USA

The Effects of Ambient Water Quality and Eurasian Watermilfoil on Lakefront Property Values in the Coeur d’Alene Area of Northern Idaho, USA

Relationships between environmental governance and water quality in a growing metropolitan area of the Pacific Northwest, USA

Barriers to adopting satellite remote sensing for water quality management

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