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

  • Gregory M. Perry
  • Lindon J. Robison

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.

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File URL: http://le.uwpress.org/cgi/reprint/77/3/385
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Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 77 (2001)
Issue (Month): 3 ()
Pages: 385-398

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Handle: RePEc:uwp:landec:v:77:y:2001:i:3:p:385-398
Contact details of provider: Web page: http://le.uwpress.org/

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  1. 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.
  2. 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.
  3. 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(02), December.
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  7. Xu, Feng & Mittelhammer, Ron C. & Torell, A., 1994. "Modeling Nonnegativity Via Truncated Logistic and Normal Distributions: An Application to Rangeland Price Analysis," Staff General Research Papers 790, Iowa State University, Department of Economics.
  8. 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(02), December.
  9. 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.
  10. 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.
  11. Jan P. Crouter, 1987. "Hedonic Estimation Applied to a Water Rights Market," Land Economics, University of Wisconsin Press, vol. 63(3), pages 259-271.
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