Hedonic Price of the Built-Up Area Appraisal in the Market Comparison Approach

Salvo, Francesca; Tavano, Daniela; Ruggiero, Manuela De

doi:10.1007/978-3-030-48279-4_65

Cited by 6 publications

(3 citation statements)

References 15 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Additionally, taking into considering the long tradition of resource mining in Oklahoma, we examined the impact from conventional drilling activity. Housing values are also affected by their locational environment, such as the size of the city [26]. Our two study locations may show the differences between 'Built-Up' areas (Canadian County) and small college towns (Payne County).…”

Section: Discussionmentioning

confidence: 86%

A Study on the Impact of Unconventional (and Conventional) Drilling on Housing Prices in Central Oklahoma

Lee

Whitacre

2021

Sustainability

View full text Add to dashboard Cite

Shale energy development activity may benefit some aspects of a regional economy (such as increased jobs or tax revenue); however, there may also be negative impacts to the local environment, such as noise and underground water contamination. We study the impact of unconventional drilling activity on housing price in an area of the country with a long history of crude oil production. A prospective home buyer may want to avoid a place near sites that have been drilled using unconventional drill technologies such as horizontal fracturing. Adopting a hedonic price model, we estimate the impact of distance to and density of unconventional drilling on housing prices in two central counties in Oklahoma during the period 2001–2016. We also apply a semiparametric approach to deal with the possibility that the relationship between an environmental pollutant source and housing price is nonlinear. The empirical results are consistent in terms of physical housing characteristics and locational aspects in all cases, with drilling activity having only a minimal effect in benchmark models. Further, the semiparametric estimation results support the findings that drilling activity has only limited impacts on local housing prices.

show abstract

Section: Discussionmentioning

confidence: 86%

A Study on the Impact of Unconventional (and Conventional) Drilling on Housing Prices in Central Oklahoma

Lee

Whitacre

2021

Sustainability

View full text Add to dashboard Cite

show abstract

“…The MCA was proposed and used in the United States since the twenties of the last century to offer methods to reduce or eliminate subjective judgements of appraisers in the judicial field (Salvo and De Ruggiero, 2012). In Italy, the MCA was introduced with substantial changes in the methodology used in the United States, particularly in relation to the approach used to estimate the marginal price of real estate characteristics (Simonotti, 2006).…”

Section: The Market Comparison Approachmentioning

confidence: 99%

From appraisal function to Automatic Valuation Method (AVM). The contribution of International Valuation Standards in modern appraisal methodologies

Salvo

2024

Aestimum

Self Cite

View full text Add to dashboard Cite

In the real estate appraisal, as well as for any other scientific discipline, there is a continuous development of knowledge with related theoretical and applicative evolution that takes place primarily on the doctrinal level. The discipline has been object of regulatory and technological improvement aimed at concretizing and defining theoretical principles and methodologies. The functions of value appraisal, formulated in the different procedures that fall within the Market Oriented Approach indicated by the International Valuation Standard, have undergone a process of evolution that has favoured the introduction of Automated Valuation Methods (AVM). This evolution process represents an improvement of the conventional appraisal models that have improved the techniques of data retrieval and data base access and certify the reliability of the models to build efficient evaluation processes and universally recognized. This article aims at reviewing the methodological evolution in relation to the national market approach that the estimation discipline has recorded in recent years by virtue of the drafting and adoption of the International Valuation Standards.

show abstract

“…In the field of property valuation in Italy, multi-parametric methods include the simplified scoring techniques called "punti di merito" (in its two variants, i.e., the "additive approach" or the "multiplicative approach"), the "market comparison approach", a method originated in the United States and reinterpreted in our country [6][7][8], and the "econometric models" or the more sophisticated "machine learning" models [9].…”

Section: Choosing the Econometric Model Among The Multi-parametric Va...mentioning

confidence: 99%

“Location, Location, Location”: Fluctuations in Real Estate Market Values after COVID-19 and the War in Ukraine Based on Econometric and Spatial Analysis, Random Forest, and Multivariate Regression

Gabrielli

Ruggeri

Scarpa

2023

Land

View full text Add to dashboard Cite

In this research, the authors aim to detect the marginal appreciation of construction and neighbourhood characteristics of property prices at three different time points: before the COVID-19 pandemic, two years after the first COVID-19 alert but before the War in Ukraine, and one year after the outbreak of the War. The marginal appreciations of the building’s features are analysed for a pilot case study in Northern Italy using a Random Forest feature importance analysis and a Multivariate Regression. Several techniques are integrated into this study, such as computer programming in Python language, multi-parametric value assessment techniques, feature selection procedures, and spatial analysis. The results may represent an interesting ongoing monitoring of how these anomalous events affect the buyer’s willingness to pay for specific characteristics of the buildings, with particular attention to the location features of the neighbourhood and accessibility.

show abstract

Hedonic Price of the Built-Up Area Appraisal in the Market Comparison Approach

Cited by 6 publications

References 15 publications

A Study on the Impact of Unconventional (and Conventional) Drilling on Housing Prices in Central Oklahoma

A Study on the Impact of Unconventional (and Conventional) Drilling on Housing Prices in Central Oklahoma

From appraisal function to Automatic Valuation Method (AVM). The contribution of International Valuation Standards in modern appraisal methodologies

“Location, Location, Location”: Fluctuations in Real Estate Market Values after COVID-19 and the War in Ukraine Based on Econometric and Spatial Analysis, Random Forest, and Multivariate Regression

Contact Info

Product

Resources

About