Do seller disclosures affect property values? Buyer information and the hedonic model

Land Economics

Volumn 84, Issue 4, 2008, Pages 551-572

  Pope, Jaren C ^a  

^a VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

FLOOD; HEDONIC ANALYSIS; HOUSING MARKET; MODELING; POVERTY; PRICE DETERMINATION; PROPERTY MARKET;

EID: 57349096706     PISSN: 00237639     EISSN: None     Source Type: Journal    
DOI: 10.3368/le.84.4.551     Document Type: Article

References (32)

1. Bin, Okmyung, and Stephen Polasky. 2004. "Effects of Flood Hazards on Property Values: Evidence Before and After Hurricane Floyd." Land Economics 80 (Nov.): 490-500.
2. Black, Sandra E. 1999. "Do Better Schools Matter? I Parental Valuation of Elementary Education." Quarterly Journal of Economics 114 (2): 577-99.
3. Cameron, T. A. 2006. "Directional Heterogeneity in Distance Profiles in Hedonic Property Value Models." Journal of Environmental Economics and Management 51 (1): 26-45.
4. Chay, Kenneth Y., and Michael Greenstone. 2005. "Does Air Quality Matter? Evidence from the Housing Market." Journal of Political Economy 113 (2): 376-424.
5. Chivers, James, and Nicholas E. Flores. 2002. "Market Failure in Information: The National Flood Insurance Program." Land Economics 78 (Nov.): 515-21.
6. Cropper, M. L., L. Deck, and K. E. McConnell 1988. "On the Choice of Functional Forms for Hedonic Price Functions." Review of Economics and Statistics 70 (4): 668-75.
7. Gayer, Ted, James Hamilton, and W. Kip Viscusi. 2000. "Private Values of Risk Tradeoffs at Superfund Sites: Housing Market Evidence on Learning about Risk." Review of Economics and Statistics 82 (3): 439-51.
8. Geoghegan, J., L. A. Wainger, and N. E. Bockstael. 1997. "Spatial Landscape Indices in a Hedonic Framework: An Ecological Economics Analysis using GIS." Ecological Economics 23 (3): 251-64.
9. Hallstrom, Daniel G., and V. Kerry Smith. 2005. "Market Responses to Hurricanes." Journal of Environmental Economics and Management 50 (3): 541-61.
10. Halvorsen, R., and R. Palmquist. 1980. "The Interpretation of Dummy Variables in Semilogarithmic Equations." American Economic Review 70 (3): 474-75.
11. Harding, J. P., S. R. Rosenthal, and C. F. Sirmans. 2003. "Estimating Bargaining Power in the Market for Existing Homes." Review of Economics and Statistics 85 (1): 178-88.
12. Holoway, James M., and Raymond Burby. 1990. "The Effects of Floodplain Development Controls on Residential Land Values." Land Economics 66 (Aug.): 259-70.
13. Kiel, Katherine, and Katherine McClain. 1995. "House Prices during Siting Decision Stages: The Case of an Incinerator from Rumor through Operation." Journal of Environmental Economics and Management 28 (2): 241-55.
14. King, Rawle O. 2005. "Federal Flood Insurance: The Repetitive Loss Problem." CRS Report for Congress. Order Code RL32972.
15. Krutilla, John V. 1966. "An Economic Approach to Coping with Flood Damage." Water Resources Research 2 (2): 183-90.
16. Kumbhakar, Subal C., and Christopher F. Parmeter. 2006. "Estimation of Hedonic Price Functions with Incomplete Information." Working paper number 2008-64, Department of Agricultural and Applied Economics, Virginia Tech.
17. Lefcoe, G. 2004. "Property Condition Disclosure Forms: How the Real Estate Industry Eased the Transition from Caveat Emptor to "Seller Tell All"." Real Property, Probate and Trust Journal 39 (Summer): 193-250.
18. Leggett, C, G., and N. E. Bockstael. 2000. "Evidence of the Effects of Water Quality on Residential Land Prices." Journal of Environmental Economics and Management 39 (2): 121-44.
19. McCluskey, Jill, and Gordon C. Rausser. 2003. "Estimation of Perceived Risk and Its Effect on Property Values." Land Economics 77 (Feb.): 42-55.
20. Meyer, Bruce D. 1995. "Natural and Quasi-Experiments in Economics." Journal of Business and Economic Statistics 13 (2): 151-61.
21. Muckleston, K. W. 1983. "The Impact of Floodplain Regulations on Residential Land Values in Oregon." Water Resources Bulletin 19 (1): 1-7.
22. Palmquist, R. B. 2005. "Property Value Models." Handbook of Environmental Economics, ed. Karl-Göran Mäler and Jeffery R. Vincent. Amsterdam: North-Holland.
23. Palmquist, R. B., and V. K. Smith. 2002. "The Use of Hedonic Property Value Techniques for Policy and Litigation." In The International Yearbook of Environmental and Resource Economics 2002/ 2003, ed. T. Tietenberg and H. Folmer, 115-64. Cheltenham, U.K.: Edward Elgar.
24. Pope, Jaren C. 2008. "Buyer Information and the Hedonic: The Impact of a Seller Disclosure on the Implicit Price for Airport Noise." Journal of Urban Economics 63 (2): 498-516.
25. Ridker, Ronald G., and John A. Henning. 1967. "The Determinants of Residential Property Values with Special Reference to Air Pollution." Review of Economics and Statistics 49 (May): 246-57.
26. Rosen, R. 1974. "Hedonic Prioes and Implicit Markets: Product Differentiation in Pure Competition." Journal of Political Economy 82 (1): 34-55.
27. Rowe, R. D., and W. D. Schulze. 1985. "Economic Assessment of Damage Related to the Eagle Mine Facility." Denver: Energy and Resource Consultants, Inc.
28. Schulze, W., G. McClelland, B. Hurd, and J. Smith. 1986. "A Case Study of Hazardous Waste Site: Perspectives from Economics and Psychology." Draft report. Contract CR812054-01-1. Washington, D.C.: U.S. Environmental Protection Agency.
29. Smith, V. K., and J. C. Huang. 1995. "Can Markets Value Air Quality? A Meta-Analysis of Hedonic Property Value Models." Journal of Political Economy 103 (1): 209-27.
30. Speyrer, J., and W. Ragas. 1991. "Housing Prices and Flood Risk: An Examination Using Spline Regression." Journal of Real Estate Finance and Economics 4 (4): 395-407.
31. Tobin, G. A., and B. E. Montz. 1994. "The Flood Hazard and Dynamics of the Urban Residential Land Market." Water Resources Bulletin 30 (4): 673-85.
32. U.S. General Accounting Office (GAO). 2003. "Challenges Facing the National Flood Insurance Program." GAO Report GAO-03-606T, p. 16. Washington, D.C.