IDEAS home Printed from https://ideas.repec.org/a/uwp/landec/v77y2001i3p385-398.html
   My bibliography  Save this article

Evaluating the Influence of Personal Relationships on Land Sale Prices: A Case Study in Oregon

Author

Listed:
  • Gregory M. Perry
  • Lindon J. Robison

Abstract

Land transactions typically involve substantial personal interaction between buyer and seller. Despite this fact, researchers have made little attempt to determine how personal relationships influence the terms of trade for a property. In this study, Linn County, Oregon, farm land sales from 1992 - 1997 were examined to better understand and quantify the influences of personal relationships. Transactions between relatives and neighbors involved special considerations with greater frequency than did those between strangers and acquaintances. Transactions between parent and child and between neighbors brought significantly less than sales between strangers. Transactions resulting from a realtor or advertisement sold at a significant premium.

Suggested Citation

  • Gregory M. Perry & Lindon J. Robison, 2001. "Evaluating the Influence of Personal Relationships on Land Sale Prices: A Case Study in Oregon," Land Economics, University of Wisconsin Press, vol. 77(3), pages 385-398.
    • Handle: RePEc:uwp:landec:v:77:y:2001:i:3:p:385-398
    as

    Download full text from publisher

    File URL: http://le.uwpress.org/cgi/reprint/77/3/385
    Download Restriction: A subscripton is required to access pdf files. Pay per article is available.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ervin, David E. & Mill, John W., 1985. "Agricultural Land Markets and Soil Erosion: Policy Relevance and Conceptual Issues," 1985 Annual Meeting, August 4-7, Ames, Iowa 278510, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Featherstone, Allen M. & Schurle, Bryan W. & Duncan, Steven S. & Postier, Kevin D., 1993. "Clearance Sales In The Farmland Market?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(2), pages 1-15, December.
    3. Robinson, Lindon J. & Siles, Marcelo E., 1999. "Social capital and household income distributions in the United States: 1980, 1990," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(1), pages 43-93.
    4. Xu, Feng & Mittelhammer, Ronald C. & Torell, L. Allen, 1994. "Modeling Nonnegativity Via Truncated Logistic And Normal Distributions: An Application To Ranch Land Price Analysis," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(1), pages 1-13, July.
    5. L. Allen Torell & James D. Libbin & Michael D. Miller, 1990. "The Market Value of Water in the Ogallala Aquifer," Land Economics, University of Wisconsin Press, vol. 66(2), pages 163-175.
    6. John Faux & Gregory M. Perry, 1999. "Estimating Irrigation Water Value Using Hedonic Price Analysis: A Case Study in Malheur County, Oregon," Land Economics, University of Wisconsin Press, vol. 75(3), pages 440-452.
    7. David E. Ervin & John W. Mill, 1985. "Agricultural Land Markets and Soil Erosion: Policy Relevance and Conceptual Issues," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(5), pages 938-942.
    8. Jan P. Crouter, 1987. "Hedonic Estimation Applied to a Water Rights Market," Land Economics, University of Wisconsin Press, vol. 63(3), pages 259-271.
    9. Raymond B. Palmquist, 1989. "Land as a Differentiated Factor of Production: A Hedonic Model and Its Implications for Welfare Measurement," Land Economics, University of Wisconsin Press, vol. 65(1), pages 23-28.
    10. David L. Chicoine, 1981. "Farmland Values at the Urban Fringe: An Analysis of Sale Prices," Land Economics, University of Wisconsin Press, vol. 57(3), pages 353-362.
    11. Gardner, Kent & Barrows, Richard, 1985. "The Impact Of Soil Conservation Investments On Land Prices," 1985 Annual Meeting, August 4-7, Ames, Iowa 278507, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. C. Arden Pope III & H. L. Goodwin, 1984. "Impacts of Consumptive Demand on Rural Land Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(5), pages 750-754.
    13. Charles B. Moss, 1997. "Returns, Interest Rates, and Inflation: How They Explain Changes in Farmland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1311-1318.
    14. Sandrey, Ronald A. & Arthur, Louise M. & Oliveira, Ronald A. & Wilson, W. Robert, 1982. "Determinants Of Oregon Farmland Values: A Pooled Cross-Sectional, Time Series Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-10, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Swanepoel, G.D. & Hadrich, Joleen & Goemans, Christopher, 2015. "Estimating the Contribution of Groundwater Irrigation to Farmland Values in Phillips County, Colorado," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2015, pages 1-14.
    2. Perry, Gregory M. & Robison, Lindon J., 1999. "Personal Relationships: Do They Influence The Sale Price Of Land?," 1999 Annual Meeting, July 11-14, 1999, Fargo, ND 35685, Western Agricultural Economics Association.
    3. Leah J. Tsoodle & Bill B. Golden & Allen M. Featherstone, 2006. "Factors Influencing Kansas Agricultural Farm Land Values," Land Economics, University of Wisconsin Press, vol. 82(1), pages 124-139.
    4. Vuuren, W. van & Ketchabaw, E. H., 1994. "A Hedonic Study of Agricultural Land Rent in Southwestern Ontario," Department of Agricultural Economics and Business 258777, University of Guelph.
    5. Ekin Birol & Katia Karousakis & Phoebe Koundouri, 2006. "Using economic valuation techniques to inform water resources management: A survey and critical appraisal of available techniques and an application," DEOS Working Papers 0607, Athens University of Economics and Business.
    6. Phoebe Koundouri, 2004. "Current Issues in the Economics of Groundwater Resource Management," Journal of Economic Surveys, Wiley Blackwell, vol. 18(5), pages 703-740, December.
    7. Marcelo Caffera & Felipe Vásquez & Daniel Rodríguez & Leonidas Carrasco-Letelier & José Ignacio Hernández & Mariela Buonomo, 2019. "Spatial Spillovers in the Implicit Market Price of Soil Erosion: An Estimation using a Spatio-temporal Hedonic Model," Documentos de Trabajo/Working Papers 1909, Facultad de Ciencias Empresariales y Economia. Universidad de Montevideo..
    8. Jean-Sauveur Ay & Jean-Marc Brayer & Jean Cavailhès & Pierre Curmi & Mohamed Hilal & Marjorie Ubertosi, 2012. "La valeur des attributs naturels des terres agricoles de Côte-d'Or," INRA UMR CESAER Working Papers 2012/1, INRA UMR CESAER, Centre d'’Economie et Sociologie appliquées à l'’Agriculture et aux Espaces Ruraux.
    9. Coelli, Tim J. & Lloyd-Smith, J. & Morrison, D. & Thomas, J., 1991. "Hedonic Pricing For A Cost Benefit Analysis Of A Public Water Supply Scheme," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 35(1), pages 1-20, April.
    10. Choumert, Johanna & Phélinas, Pascale, 2015. "Determinants of agricultural land values in Argentina," Ecological Economics, Elsevier, vol. 110(C), pages 134-140.
    11. Arthur Grimes & Andrew Aitken, 2008. "Water, Water Somewhere: The Value of Water in a Drought-Prone Farming Region," Working Papers 08_10, Motu Economic and Public Policy Research.
    12. Sen Chakraborty, Kritika & Chakraborty, Avinandan & Berrens, Robert P., 2023. "Valuing soil erosion control investments in Nigerian agricultural lands: A hedonic pricing model," World Development, Elsevier, vol. 170(C).
    13. Chun-Chang Lee & Yi-Xin Chen & Yun-Ling Wu & Wen-Chih Yeh & Chih-Min Liang, 2020. "Multilevel Analysis of the Pressure of Agricultural Land Conversion, Degree of Urbanization and Agricultural Land Prices in Taiwan," Land, MDPI, vol. 9(12), pages 1-21, November.
    14. Shultz, Steven, 2010. "Hedonic Price Modeling to Value Irrigated Agriculture Across a River Basin," Western Economics Forum, Western Agricultural Economics Association, vol. 9(2), pages 1-14.
    15. Yoo, James & Simonit, Silvio & Connors, John P. & Maliszewski, Paul J. & Kinzig, Ann P. & Perrings, Charles, 2013. "The value of agricultural water rights in agricultural properties in the path of development," Ecological Economics, Elsevier, vol. 91(C), pages 57-68.
    16. 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.
    17. Ritter, Matthias & Hüttel, Silke & Odening, Martin & Seifert, Stefan, 2020. "Revisiting the relationship between land price and parcel size in agriculture," Land Use Policy, Elsevier, vol. 97(C).
    18. Lambert, David & Shultz, Steven, 1999. "Implicit Prices of CRP Enrollments, Wetlands, and Soil Quality in North Dakota," Western Region Archives 321699, Western Region - Western Extension Directors Association (WEDA).
    19. Choumert, Johanna & Phélinas, Pascale, 2014. "A Hedonic Analysis Of Agricultural Land Values In A Gm Soybean Area Of Argentina," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182750, European Association of Agricultural Economists.
    20. Sampson, Gabriel S. & Hendricks, Nathan P. & Taylor, Mykel R., 2019. "Land market valuation of groundwater," Resource and Energy Economics, Elsevier, vol. 58(C).

    More about this item

    JEL classification:

    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:77:y:2001:i:3:p:385-398. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: http://le.uwpress.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.