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A Hedonic Model of Prices and Assessments for Single-Family Homes: Does the Assessor Follow the Market or the Market Follow the Assessor?

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  • Brian J. L. Berry
  • Robert S. Bednarz
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    Abstract

    In this paper, hedonic regressions are used to analyze a seven-year sample of monthly sales of bungalows in Chicago. Even when sales are considered within individual sections of Chicago, the FHA dummy-independent variable and the `points'-independent ...

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    Bibliographic Info

    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 51 (1975)
    Issue (Month): 1 ()
    Pages: 21-40

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    Handle: RePEc:uwp:landec:v:51:y:1975:i:1:p:21-40

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    Web page: http://le.uwpress.org/

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    Cited by:
    1. Gary C. Cornia & Barrett A. Slade, 2005. "Property Taxation of Multifamily Housing: An Empirical Analysis of Vertical and Horizontal Equity and Assessment Methods," Journal of Real Estate Research, American Real Estate Society, vol. 27(1), pages 17-46.
    2. Gill Lim, 1982. "Discrimination, time-lag, and assessment inequity in black neighborhoods," The Review of Black Political Economy, Springer, vol. 12(1), pages 15-28, September.
    3. Cotteleer, Geerte & Stobbe, Tracy & van Kooten, G. Cornelis, 2008. "Expert Opinion Versus Transaction Evidence: Using The Reilly Index To Measure Open Space Premiums In The Urban-Rural Fringe," 107th Seminar, January 30-February 1, 2008, Sevilla, Spain 6705, European Association of Agricultural Economists.
    4. Cotteleer, Geerte & van Kooten, G. Cornelis, 2012. "Expert opinion versus actual transaction evidence in the valuation of non-market amenities," Economic Modelling, Elsevier, vol. 29(1), pages 32-40.
    5. Brannman, Lance & Buongiorno, Joseph & Fight, Roger, 1981. "Quality Adjusted Price Indices For Douglas-Fir Timber," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 6(02), December.
    6. Shi, Song & Young, Martin & Hargreaves, Bob, 2009. "Issues in measuring a monthly house price index in New Zealand," Journal of Housing Economics, Elsevier, vol. 18(4), pages 336-350, December.
    7. Robert Inman, 1978. "Testing political economy’s ‘as if’ proposition: is the median income voter really decisive?," Public Choice, Springer, vol. 33(4), pages 45-65, December.
    8. Olivier Parent & Rainer Hofe, 2013. "Understanding the impact of trails on residential property values in the presence of spatial dependence," The Annals of Regional Science, Springer, vol. 51(2), pages 355-375, October.
    9. William C. Goolsby, 1997. "Assessment Error in the Valuation of Owner-Occupied Housing," Journal of Real Estate Research, American Real Estate Society, vol. 13(1), pages 33-46.
    10. Stephen Malpezzi, . "Hedonic Pricing Models: A Selective and Applied Review," Wisconsin-Madison CULER working papers 02-05, University of Wisconsin Center for Urban Land Economic Research.

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