The Pricing of Lake Lots
AbstractThis article reveals aspects of lakefront property pricing especially with respect to lot frontage and depth. A clearer understanding of how these lot dimensions affect price should be of interest to those engaged in lake development, land use control, valuation, and marketing. A data set with eighty observations of vacant Lake Michigan residential properties sales is used. The unique geography of northwest Michigan provides an opportunity to tackle empirical issues associated with zoning when zoning is correlated with lot attributes, such as lot topography. Copyright Springer Science + Business Media, Inc. 2005
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Bibliographic InfoArticle provided by Springer in its journal The Journal of Real Estate Finance and Economics.
Volume (Year): 30 (2005)
Issue (Month): 3 (April)
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Web page: http://www.springerlink.com/link.asp?id=102945
lakefront property values; frontage and depth; recreational land and values; hedonic pricing;
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