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Valuation of Property Surrounding a Resort Community

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Abstract

This article uses hedonic modeling for valuation of real estate located near Jackson, Wyoming and agricultural property throughout the remainder of Wyoming. The attributes of the hedonic model used to value resort properties are compared with attributes of the model used to value agricultural properties. It is observed that attributes affecting the value of resort property are significantly different from attributes affecting the value of agricultural property. Resort properties, even though classified as agricultural, derive their values from scenic amenities, existence of streams, vegetation and relative location. Alternatively, agricultural lands throughout the remainder of Wyoming derive value from a combination of productive and nonproductive attributes.

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  • Ronald W. Spahr & Mark A. Sunderman, 1999. "Valuation of Property Surrounding a Resort Community," Journal of Real Estate Research, American Real Estate Society, vol. 17(2), pages 227-244.
    • Handle: RePEc:jre:issued:v:17:n:2:1999:p:227-244
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    Cited by:

    1. Boris A. Portnov & Yakov Odish & Larissa Fleishman, 2005. "Factors Affecting Housing Modifications and Housing Pricing: A Case Study of Four Residential Neighborhoods in Haifa, Israel," Journal of Real Estate Research, American Real Estate Society, vol. 27(4), pages 371-408.
    2. Ronald W. Spahr & Mark A. Sunderman, 2009. "A Model for Federal Public Land Surface Rights' Management," Journal of Real Estate Research, American Real Estate Society, vol. 31(2), pages 119-146.
    3. Ma, Shan & Swinton, Scott M., 2011. "Valuation of ecosystem services from rural landscapes using agricultural land prices," Ecological Economics, Elsevier, vol. 70(9), pages 1649-1659, July.

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    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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