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Regression Estimates of Different Land Type Prices and Time Adjustments

Author

Listed:
  • Wilson, Bill
  • Schurle, Bryan
  • Taylor, Mykel
  • Featherstone, Allen
  • Ibendahl, Gregg

Abstract

Appraisers use puritan sales to estimate the ratio of prices for different types of land. However, puritan sales may be hard to find in areas where parcels contain upland, bottomland, meadow, pasture, irrigation, recreational land, and CRP. This paper uses regression to identify the value of different land types from sales that have a mixture of types. A second issue is adjusting values for time. Regression can be used to calculate a time adjustment. However, there are major modeling decisions that need to be made to make sure that the model fits the price adjustments occurring in the market.

Suggested Citation

  • Wilson, Bill & Schurle, Bryan & Taylor, Mykel & Featherstone, Allen & Ibendahl, Gregg, 2014. "Regression Estimates of Different Land Type Prices and Time Adjustments," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2014, pages 1-12.
    • Handle: RePEc:ags:jasfmr:197107
    DOI: 10.22004/ag.econ.197107
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    File URL: https://ageconsearch.umn.edu/record/197107/files/409-Schurle.pdf
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    References listed on IDEAS

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    1. Stephens, Steve & Schurle, Bryan, 2013. "Impact of Rainfall, Sales Method, and Time on Land Prices," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2013, pages 1-7, June.
    2. Schurle, Bryan & Featherstone, Allen & Wilson, Christine & Crossan, Dylan, 2013. "Land Prices During Periods of Rapid Change," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2013, pages 1-13, June.
    3. Wild, Martin, 2009. "What Drives Land Prices in Your Market? The Use of Multiple Regression Analysis to Confirm the Significance of Determinative Real Estate Value Elements," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2009, pages 1-13.
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    Cited by:

    1. Taylor, Mykel & Schurle, Bryan & Rundel, Brady & Wilson, Bill, 2015. "Determining Land Values Using Ordinary Least Squares Regression," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2015, pages 1-12.

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    More about this item

    Keywords

    Financial Economics; Land Economics/Use;

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