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Evaluating Subdivision Characteristics on Single Family Housing Value Using Hierarchical Linear Modelling

Author

Listed:
  • Woo-Jin Shin

    () (Korea Real Estate Research Institute)

  • Jesse Saginor

    (Texas A&M University)

  • Shannon Van Zandt

    (Texas A&M University)

Abstract

This research quantifies the financial effects of value creation concepts in relation to housing values in a single-family residential development using hierarchical linear modeling (HLM). As a result, value creation concepts such as sense of arrival, greenway connectivity, and the median length of cul-de-sac have positive effects on single family housing values while the number of accessible entrances and the median length of block variables have negative effects on single family housing values. These results indicate that higher values in a subdivision may result from smaller blocks, interconnected greenways, and a single entrance which provides a sense of arrival.

Suggested Citation

  • Woo-Jin Shin & Jesse Saginor & Shannon Van Zandt, 2011. "Evaluating Subdivision Characteristics on Single Family Housing Value Using Hierarchical Linear Modelling," Journal of Real Estate Research, American Real Estate Society, vol. 33(3), pages 317-348.
  • Handle: RePEc:jre:issued:v:33:n:3:2011:p:317-348
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    JEL classification:

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

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