Residential Real Estate Prices : A Room with a View

Topics:
Market Studies,
Property Analysis
Tags:
Business Operations,
California State University,
Real Estate,
Study,
View
Source:
California State University, Fullerton - College of Business and Economics

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Overview: This article explains a study that examines the effect that a view of Lake Erie has on the value of a home. Unlike previous studies, the current investigation is able to successfully control for view. That is, because of the unique building codes of lakefront homes in this sample, homes analyzed either do or do not have a view. Moreover, transaction-based home prices are used which is an improvement over previous studies that rely on appraisal-based data. The results indicate that square footage and lot size also significantly affect a home’s value.

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Format: PDF | Size: 51KB | Date: Jan 2002 | Pages: 10

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