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The literature on the impact of transit investment on land and property values reports mixed results of estimated value changes. It is well recognised that the data used (e.g., value of land or property) is one of the most important factors that may influence estimates of value changes. However, empirical research into the impact variation between different types of data (i.e., the observed values) is lacking. This study firstly investigates value uplift results variations when estimating the impact of a light rail system on different types of value, including property and land values. Two difference-in-differences models are employed to estimate how property sales price and underlying land assessed price change within catchment areas of the Gold Coast light rail transit as compared to control areas. The results indicate there are significant differences between the impacts of rail investment on property value (positive) and land value (negative). This indicates that one should not simply use property value as the proxy for land value or vice versa. These results have implications for schoalrs and governments to employ suitable strategies to generate revenue from the broader benefits brought by significant infrastructure projects - value capture for transport infrastructure. • Investigate value uplift variations due to different types of observed values. • Use DID models to estimate change in property and land values. • Find price premium of 6.2% on property value. • Find negative impact on the assessed value of land. [ABSTRACT FROM AUTHOR]

The historic designation of individual properties and entire neighborhoods has experienced an evolution in its meaning in recent decades. The original passive approach to managing historical buildings, which primarily regarded them as "values" to be defended and preserved for future generations, has been supplemented by strategies aimed at their valorization, derived from an awareness of the potential of such resources for the community, as a means of promoting the economic and social conditions of local populations. This paper proposes a review of all the main research carried out in the literature over the last thirty years concerning the impact of the historical–architectural significance of property values, both from an intrinsic point of view by evaluating the weight that the examined variable assumes in relation to the market value of the individual property and an extrinsic point of view by addressing the issue of the evaluation of "spatial spillovers", positive and/or negative externalities that neighborhoods with historical–architectural significance—understood as historical districts—produce on the values of the properties falling within them. The analysis conducted shows that, according to the studies carried out, historic-architectural value can have both a positive and negative impact on property values. This output is related to the type of historic designation (local rather than national), the architectural style, the building typology, and the conservation and enhancement activities envisaged for the property. [ABSTRACT FROM AUTHOR]

There is public perception that agricultural property value in Alberta is negatively affected by abandoned but unreclaimed oil and gas well sites. This exploratory research examines whether a difference in property values exists between those with reclaimed well sites and properties with abandoned but unreclaimed well sites (i.e., reclamation status). A total of 485 property transfer records from the provincial registry and oil and gas well information from an industry database were used in the research. Stepwise, sequential-search regression was applied to derive an optimized set of potential factors and covariates to predict per-acre agricultural property value. Property sale date, residential density, and agricultural land capability class were the covariates. Property location, well type, and reclamation status were the factors. The data analysis did not support the public perception about reclamation status but did confirm property location and the listed covariates as significant predictors of agricultural property value in Alberta. [ABSTRACT FROM AUTHOR]

This article explores middle‐class mothers' labours associated with relocating for a "good school" in NYC as they navigated the material and ideological structures of scarcity related to its highly unequal school system. Based on ethnographic research with a diverse group of women in a middle‐class area, I document the multiple ongoing labours associated with this "choice", and trace how the neoliberal education complex (that includes testing and real estate industries, and school rating websites) compels women to perform them. Through the lenses of Marxist feminism and racial capitalism, I demonstrate how these labours produce school and property value that reinscribe race onto space. While middle‐class women are disciplined and their labours coerced, their labours are routed to dispossess working‐class communities of colour, and reproduce the racial hierarchy of human‐ness on which capital depends. This article underscores the role of gender and race‐making in middle‐class reproduction, and their linkage to elite accumulation and working‐class dispossession. [ABSTRACT FROM AUTHOR]

Like other cities across the nation, Milwaukee utilizes a mix of regulatory, statutory, and common law tools to address the problem of substandard rental housing. This Comment examines the efficacy Of those legal tools, in the process demonstrating that existing remedies offer insufficient protections to tenants in need of habitable housing. This Comment then proposes a novel legal strategy that is designed to ameliorate the problem of low-quality, overpriced rental housing: amending Wis. Stat. § 66.1015 to permit implementation of a "rent-value correlation rate"-giving municipalities the option to cap monthly contract rent as a percentage of the assessed property value. Tenants could use the rent-value correlation rate as an al?irmative defense to eviction. And because tenants would .finally owe a .financial obligation commensurate with the substandard quality oj contracted housing, landlords might be motivated to maintain or improve the quality of the premises in order to restore or increase profit margins. [ABSTRACT FROM AUTHOR]

The property value assessment in the real estate market still remains as a challenges due to incomplete and insufficient information, as well as the lack of efficient algorithms. House attributes, such as size and number of bedrooms, are currently being employed to perform the estimation by professional appraisers and researchers. Numerous algorithms have been proposed; however, a better assessment performance is still expected by the market. Nowadays, there are more available relevant data from various sources in urban areas, which have a potential impact on the house value. In this paper, we propose to fuse urban data, i.e., metadata and imagery data, with house attributes to unveil the market value of the property in Philadelphia. Specifically, two deep neural networks, i.e., metadata fusion network and image appraiser, are proposed to extract the representations, i.e., expected levels, from metadata and street-view images, respectively. A boosted regression tree (BRT) is adapted to estimate the market values of houses with the fused metadata and expected levels. The experimental results with the data collected from the city of Philadelphia demonstrate the effectiveness of the proposed model. The research presented in this paper also provides the real estate industry a new reference to the property value assessment with the data fusion methodology. [ABSTRACT FROM AUTHOR]

Objective: Low individual socioeconomic status (SES) is known to be associated with a higher risk of type 2 diabetes mellitus (T2DM), but the extent to which the local context in which people live may influence T2DM rates remains unclear. This study examines whether living in a low property value neighbourhood is associated with higher rates of T2DM independently of individual SES. Research design and methods: Using cross-sectional data from the Maastricht Study (2010–2013) and geographical data from Statistics Netherlands, multilevel logistic regression was used to assess the association between neighbourhood property value and T2DM. Individual SES was based on education, occupation and income. Of the 2,056 participants (aged 40–75 years), 494 (24%) were diagnosed with T2DM. Results: Individual SES was strongly associated with T2DM, but a significant proportion of the variance in T2DM was found at the neighbourhood level (VPC = 9.2%; 95% CI = 5.0%–16%). Participants living in the poorest neighbourhoods had a 2.38 times higher odds ratio of T2DM compared to those living in the richest areas (95% CI = 1.58–3.58), independently of individual SES. Conclusions: Neighbourhood property value showed a significant association with T2DM, suggesting the usefulness of area-based programmes aimed at improving neighbourhood characteristics in order to tackle inequalities in T2DM. [ABSTRACT FROM AUTHOR]

• Introduction to the joint special issue of land economics (LE) and the journal of housing economics (JHE) focused on property value applications using Zillow's ZTRAX data. • ZTRAX is a real estate–focused database with over 400 million public records spanning nearly all U.S. counties across more than 30 years. • Includes comments from Zillow. • This special issue contains seven papers that use the ZTRAX data. Four consider environmental issues: flooding, chemical accidents, and green space, two analyze farmland values and one looks at property tax salience. • All these papers take advantage of the scope of the ZTRAX data to carry out broad geographic analyses that have not been previously undertaken in their respective literatures. This is the Introduction for the joint special issue of Land Economics (LE) and the Journal of Housing Economics (JHE) focused on property value applications using Zillow's ZTRAX data. ZTRAX is a real estate–focused database with over 400 million public records spanning nearly all U.S. counties across more than 30 years. The spatially explicit data on deed transfers, sale prices, and property characteristics has provided the basis for analyses on themes such as disaster risks, including wildfires, flooding, and chemical accidents; natural resources, including water quality, farmland, and coal; and land uses, such as open space, national parks, and critical habitat designation, among others. [ABSTRACT FROM AUTHOR]

Renewed interest in light-rail transit (LRT) in North America has heightened the need for an improved understanding of transit impacts on land value uplift (LVU). A number of studies have investigated the relationship, with findings varying with local contexts and estimation methods. Most of these studies focus on the aggregate effects of transit using cross-sectional models, but do not examine the spatial and temporal heterogeneity in transit impacts through quasi-experimental approaches. To bridge this gap, we build a set of spatio-temporal difference-in-differences (STDID) models for the causal identification of transit-induced land-value uplift, taking the new LRT line in Canada's Waterloo Region as the case study. The study contributes to the transit-induced LVU literature in several ways. First, we account for the space-time influence of recent comparable sales in price determination, a transaction data-generating process often excluded in hedonic studies. Second, our models reveal the disaggregate effects of transit policies in different station areas and transit phases. Third, we provide a pre-LRT analysis in a car-dependent mid-sized urban area, which offers insight into speculative investment in TOD areas and/or resident anticipation of future accessibility benefits. The findings can provide guidance for value-capture programs and cost-benefit analysis for transit-oriented development in mid-sized cities. • Renewed interest in LRT in North America has heightened the need for assessing transit impacts on land-value uplift. • STDID models were applied for causal identification of transit-induced LVU in a mid-sized urban area. • Transit-induced LVU for single-family housing was found in the region after the funding was secured. • Heterogeneous effects across TOD areas and housing types suggest the necessity for disaggregate analyses to provide context-specific guidance. • This study sheds light on the spatial and temporal heterogeneity in transit impacts through quasi-experimental approaches. [ABSTRACT FROM AUTHOR]

Determining the impact of individual attributes on the value or price of real estate in business practice poses many problems. One of the solutions to this problem is the use of statistical methods. The article proposes correlation coefficients (and their partial modifications) that can be used to determine the impact of selected features on the value of real estate. In addition, several procedures were taken into account for the factors in further calculations, using different methods for determining weights. Empirical verification of the proposed solutions was based on the mass valuation of land properties. The obtained results were compared with valuations developed by property appraisers and valuation errors were calculated. Based on valuation errors, the proposed methods of calculation procedures were ranged, indicating those which provide results closest to the individual valuations carried out by property appraisers. [ABSTRACT FROM AUTHOR]

• Industrial chemical accidents can impose external costs on nearby communities. • We conduct a nationwide hedonic analysis of how accidents impact home values. • Accidents leading to offsite impacts result in a 2-3% reduction in home values. • This price effect extends 5.75 km, and translates to a $5,350 loss per home. • The results can inform policies intended to reduce accident risks and severity. Industrial chemical accidents involving fires, explosions, or toxic vapors impose external costs on nearby communities. We examine changes in residential property values using nationwide data on chemical facilities, accidents, and residential transactions within a spatial difference-in-differences framework. We find that accidents with direct offsite impacts lower home values within 5.75 km by 2-3%, an effect that remains for about 10 to 12 years, on average. We estimate an average loss of $5,350 per home, which translates to a $39.5 billion loss to communities around the 661 facilities where an offsite impact accident occurred. We assess the assumptions needed for a formal welfare interpretation and conclude that these results roughly approximate losses experienced by nearby residents. [ABSTRACT FROM AUTHOR]

With the fast development of socio-economic, more attention has been focused on the property value of natural resources and environmental benefit. In this regard, Ecological Property Value (EPV), which is considered as one of the most significant resource and wealth in a country, has being concerned more and more in recent years. EPV is one of the bases of social development. Understanding the EPV in a region is very useful in taking effective management to improve the sustainable development. So, it is very important to assess the EPV. Massive vector and raster spatial data are analyzed in the environment of GIS software. Remote sensing data sets, as well as meteorological data, NDVI and GDP, are re-sampled at a spatial resolution of 1 km. The EPV and its spatial-temporal variation in Gansu Province from 2000 to 2010 are evaluated and the spatial distribution maps of EPV are drawn. This paper develops spatial model of Ecological Economic Harmony (EEH). The EEH is developed to reflect the coordination degree of the EPV and GDP. The results show: 1) The overall amount of EPV in Gansu Province are 2 430.84 billion and 2 487.40 billion in 2000 and 2010 respectively. 2) The forest ecosystem offers the most of EPV. About half of the total EPV in Gansu Province is contributed by Longnan and Gannan. 3) The spatial distribution of EPV in Gansu Province exhibits a declining trend from southeast to northwest, and the EPV in the Hexi Corridor and Longnan area increased rapidly from 2000 to 2010. 4) The ratios of the EPV to GDP in most of cities decreased in different degrees, which shows unmatching of the development of the EPV and the growth of GDP and the tremendous pressure of protection of ecological environment. 5) The present pattern of the coordination of ecological and economic systems expresses that the potential crisis zone occupies the central location and has a broad coverage, followed by low- grade conflict zone and initial degradation zone. There are some uncertainties for evaluating EPV based on quantitative remote sensing retrieval and economic evaluation methods. The uncertainties are mainly from two aspects: the EPV and the criteria for evaluation, and the spatial resolution of remote sensing data and the precision of applied ecological model. [ABSTRACT FROM AUTHOR]

The effects of poverty on important outcome measures are devastating and well documented, but the conceptualization and operationalization of socioeconomic status (SES) are underdeveloped. Various indicators of SES are useful for different purposes. Free or reduced-price lunch (FRL) status is commonly used because of its convenience and predictive strength, but it has many limitations. This study explored property value as a convenient alternative or complement to FRL status. The conceptual alignment of property value with SES was compared with that of traditional indicators like parent income, education, and occupation. Empirically, hierarchical linear modeling and regression analyses were conducted to evaluate the effects of property value on math achievement in comparison with and in conjunction with FRL status. Property value is strongly related to Math achievement, and it complements conceptual and methodological flaws of FRL status by providing nuance at the local level and encompassing aspects of human and social capital. [ABSTRACT FROM AUTHOR]

Analysing the standardisation of appraisal alongside the development of modern real estate markets in the early 20th century, this article demonstrates that the construction of a racialised proper(tied) economic subjectivity was pivotal for realtors' ability to secure legitimacy and profit as a burgeoning profession. Appraisal embedded racial logics within real estate markets such that their routine functioning could generate the submarket differentiation necessary for the realisation of class‐monopoly rent. This study's focus on appraisal before federal redlining addresses key lacunae in the historiography of segregation by foregrounding markets' historical function as infrastructures that produce and spatialise the social difference crucial for profit in real estate. This article also seeks to inform engagements with contemporary processes of land speculation, commodification, and financialisation shaping US cities by advocating attention to the specific mechanisms that constitute race as a modality for the appropriation of surplus by real estate capital. [ABSTRACT FROM AUTHOR]

Floodplain buyouts are an increasingly common policy for mitigating flood risk. Recent research has explored the costs of buyouts and their impacts on municipal finance and tax base. However, little work has explored the effects of buyouts on surrounding residential land values, an aspect that could contribute to the extensive literature on the land value impacts of urban land uses, including open space and ecological restoration. This study evaluates the residential land value impacts of buyouts in Mecklenburg County, North Carolina (USA), an area with extensive, municipally- and federally-funded buyouts (n = 348). Using a quasi-experimental research design that matches treatment parcels (near buyouts) to control parcels to isolate the causal impacts of buyouts, we find that buyouts are responsible for weak increases (p<0.1) in the area-normalized sales values ($/ft2) of neighboring (within 0.15 km) single-family residential properties. We additionally find positive – but also weak – sales value relationships with (1) buyouts that have programmed post-buyout land uses, such as parks or other recreation areas (USD$25.46/ft2 [$274.05/m2] when 0.15–0.2 km from buyout; p<0.05), and (2) the average age of proximal buyouts ($0.34/ft2 [$3.66/m2] within 0.1–0.15 km; $0.30/ft2 [$3.23/m2] within 0.15–0.20 km; both p<0.01). Our results suggest that post-buyout land uses may have impacts on local tax base and should play a larger part in municipal buyout decisions. • We isolate floodplain buyouts' causal impacts using treatment-control parcel matching. • Buyouts weakly increase sales values ($/m2) of nearby (<0.15 km) residential parcels. • Decisions on post-buyout land uses could impact local tax base. [ABSTRACT FROM AUTHOR]

The article discusses the inverse taking law in relation to government-incited public actions that destroy private property value. Topics discussed include the U.S. Supreme Court ruling in the case Penn Cent. Transp. Co. v. City of New York, the compensation verdict in the case Chmielewski v. City of St. Pete Beach, and the impact of the U.S. Food and Drug Administration public warnings on tomato producers.

Transit-Oriented Development (TOD) is considered to be a powerful model intended to achieve sustainable urban development. A well-designed TOD enhances the accessibility of different kinds of activities, reduces transportation costs and improves the comfort and safety of travel for the neighbourhood as whole, thereby increasing the willingness to pay for real estate properties located nearby. This study examines the housing price premiums of bus transit-oriented development (BTOD), a particular type of TOD that has become quite common in practice, especially in cities where public transportation is provided primarily through a bus system instead of a metro or light rail system. BTOD projects are built at major nodes of a bus network and typically include housing units and commercial services. Our research focuses on four completed BTODs in the Seattle metropolitan area, and employs data on sales prices, physical attributes, neighbourhood characteristics and location features for almost 7000 single-family homes located within a 1.5-mile radius. Using Hedonic price analysis, we find that these BTODs have generated significant positive effects on the values of adjacent homes, especially those located within 0.5 miles. Results from a more sophisticated longitudinal analysis using the data for Renton, one of the BTODs, confirm the price premiums while gaining additional insights about the temporal variations. These findings have an important policy implication, which is especially relevant for cities with an extensive bus transit system: local governments can generate additional tax revenues while advancing sustainability through bus transit-oriented developments. [ABSTRACT FROM AUTHOR]

Using hedonic methods, we examine how chemical accidents at industrial facilities impact home values. The study focuses on facilities regulated by the U.S. Environmental Protection Agency's Risk Management Plan (RMP) program, which is in place to reduce the risk of harm to offsite populations from accidental chemical fires, explosions, and releases of toxic vapors. RMP facility and accident data were linked to residential transactions in Michigan, Ohio, and Pennsylvania. To facilitate causal inference, alternative difference-in-differences and triple differences models are estimated, where we compare homes near and far, and before and after, an accident; as well as homes near facilities where an accident did and did not occur. We find that the typical accident does not generally affect home values, but accidents resulting in offsite injuries, property damage, evacuations, or shelter-in-place orders lead to a 5% to 8% decrease in the value of homes within five kilometers; suggesting an average loss of $12,000 to $20,000. The benefits of policies that help avoid these impacts are particularly relevant from an environmental justice standpoint. Proximity to an RMP facility, irrespective of any incidents, is associated with significantly lower home values. Existing inequities are exacerbated by chemical accidents that impact offsite populations. • Hedonic study of home price impacts from chemical accidents at industrial sites. • Focus on MI, OH, and PA sites regulated by US EPA's Risk Management Plan program. • Implement alternative difference-in-differences and triple difference comparisons. • Find home values decline by 5–8% from accidents that impact nearby communities. • Existing inequities are exacerbated by these accidents. [ABSTRACT FROM AUTHOR]

Effective urban planning depends on knowing homebuyers' preferences for neighbourhood features that provide different amenities, such as managed parks and trees. As the expansion of tropical urban areas into biodiversity hotspots is predicted to more than double by 2030, knowing homebuyers utility from different vegetation types can contribute to global biodiversity conservation strategies. We used the hedonic pricing method to estimate the economic value of managed, spontaneous and high conservation value vegetation to Singapore public housing using a mixed effects model. On average vegetation had positive effects on property selling price, accounting for 3% of the average property's value, or a total of S$179 million for all public housing apartments sold over 13 months. These effects were almost entirely driven by managed vegetation, which had positive marginal effects on price for 98.1% of properties. The estimated marginal effects of high conservation value vegetation were mostly negative (90.5%% properties), but positive for properties without much managed vegetation nearby. The estimated marginal effects of spontaneous vegetation were mixed and mostly small. To reconcile the goals of protecting high conservation value vegetation and maximising homeowner utility, new public housing developments should contain more managed vegetation but be away from high conservation value vegetation. [ABSTRACT FROM AUTHOR]

This paper examines the impact of tax increment financing (TIF) on business property value. Using parcel-level data from Milwaukee,Wisconsin, from 1980 to 1999, a semilog econometric model is estimated using fixed effects regression. A two-stage estimation process is also used to test and correct for potential self-selection bias and endogeneity associated with TIF implementation. The findings suggest that the provision of public services offered within TIF districts is capitalized into business property value over time. The magnitude of this effect is the largest of all factors considered. The analysis also reveals that self-selection bias is likely associated with TIF implementation. The endogenously determined probability that a property will be placed within a TIF district is positively correlated with the property's value. Finally, the analysis reveals that the impact of TIF might be underestimated in the absence of corrections for self-selection bias and endogeneity. [ABSTRACT FROM AUTHOR]

Numerous studies using a variety of methods suggest that beach renourishment generates benefits to both recreational users and property owners. To date, however, only Cordes, Gatlaff and Yezer (2001) have used repeat sales data, and they found no effect of renourishment on property values. We use a repeat sales index to investigate the effects of the Army Corps of Engineers' renourishment of Folly Beach, South Carolina. We find that beach renourishment has maintained property value appreciation rates when contrasted against rates in a comparable real estate market--nearby Isle of Palms, South Carolina. [ABSTRACT FROM AUTHOR]

The interaction between rail transit and the urban property market is a vital foundation for planning transit-based policy such as Value Capture and Transit Oriented Development (TOD). Yet only few studies have reported the impact of transit access on commercial property value. This paper presents empirical evidence from Wuhan, China, to enrich the knowledge in the subject area. Spatial autoregressive models were employed to estimate the commercial value capture, based on 676 observations along Wuhan’s metro rail line through the main business districts. Value appreciation was discovered within the 400 m radius of road network distance from Metro stations. The transit access premiums present as two tiers: 16.7% for the 0–100 m core area and approximately 8.0% within the 100–400 m radius. The result demonstrates the potential benefit of adopting value capture and optimising TOD planning to support sustainable urban rail transit investment. Amid rapid urbanisation in China, the evidence reported here could help better inform cities, across the developing world and beyond, of the benefits of adopting rail transit-based policy. [ABSTRACT FROM AUTHOR]

Trees in residential neighborhoods and communities provide benefits for homeowners that are capitalized into residential property values. In this paper, we collected data from hedonic property value studies and merged these data with ancillary spatial data describing forest and socio-economic characteristics surrounding each study area to conduct a meta-analysis of the impact of tree canopy cover on the value of residential properties. The meta-analysis suggests that property-level tree cover of about 30% and county-level tree cover of about 38% maximize the implicit price of tree cover in property values. Currently, tree cover in the original study areas was about 14%, on average, around or near study properties. The empirical results, therefore suggest under investment of tree cover on private property from the perspective of individual property owners and from a societal perspective. The findings also have implications for community forest programs regarding planting trees and protection of mature trees to address potential changes in tree abundance, species diversity and stand age due to development and climate change. [ABSTRACT FROM AUTHOR]

The decisions of buyers on the housing market are not only the sum of their subjective expectations but also of the perception of real estate through a prism of opinions and suggestions arising from the surroundings. One of the basic criteria driving households determined to meet basic housing needs is security. The aim of the study is to identify the relationship between the transaction prices of housing and the crime rate in the various districts of Szczecin. For this purpose, data from the Regional Police Headquarters in Szczecin (i.e. map of crimes) and transactional data from notarial acts are analyzed in the work. Then, using statistical and econometric models, spatial relationships of the examined crimes are investigated. [ABSTRACT FROM AUTHOR]

Managing intellectual property (IP) value appropriation remains a central challenge for business-to-business (B2B) networks due to B2B co-creation prospects for improved value-in-exchange and value-in-use for co-creation beneficiaries. This article aims to explore the management practices of B2B networks that enhance IP value from B2B co-creation. Using semi-structured interviews with sixteen IP management experts from the Kingdom of Saudi Arabia, the article proposes an integrated model of management strategies and guidelines for B2B co-creation with respect to IP value. The model posits that at the intra-organisational level , the main enabling processes for value appropriation are building communication skills, implementing hiring processes, and developing management systems for negotiations, talents, and intellectual assets, respectively. This level benefits from priorities placed on selecting strategic partners and fostering learning cultures for knowledge, technology, and venture co-creation processes. For the inter-organisational level , the proposed enabling processes are pursuing research funds and creating optimum designs for technology development and market positioning, respectively. Priorities at this level involve aligning complementary resources, developing clear agreements, and utilising supportive capabilities for technology and market co-creation. [ABSTRACT FROM AUTHOR]

Recently, housing prices studies emerged to use street view imagery to infer the marginal price of streetscape using hedonic price models (HPM). Within this trend, most studies took an objective approach by extracting streetscape pixels to directly proxy human perceptions. Less studies addressed the strength of the subjective perceptions measured from visual surveys. We argue that human perception is a subjective and subtle sensory process that cannot be fully captured using objective indicators. We hypothesize that the subjective approach could provide stronger predictive power to housing prices. Taking Shanghai as a case study, we extend a spatial HPM with both subjectively-measured and objectively-derived perceptions of six urban design qualities. Accounting for the spatial dependence, subjective scores collectively explained equal price variance, while all their individual signs were opposite to the objective counterparts. Moreover, most subjective scores individually exhibited stronger strength, confirming our hypothesis that perceptions are better captured using subjective measures. For ambiguous concepts such as imageability, the subjective framework exhibits better performance, while the objective constructs are more effective to represent straightforward perceptions like greenness and enclosure. This study contributes to the studies on the coherence and divergence of subjective and objective measures of perceptions and environmental qualities. It enriches the literature on the economic values of streetscapes and provides guidance on the indicator selection for assessing, designing, and managing street environments. • Integrating visual survey and street-view image to predict subjective perceptions while constructing objective counterparts • Investigated the divergence and coherence between subjective and objective perceptions • Compared the two perception measures' predictive power on housing prices • Subjective perceptions showed opposite signs and stronger magnitudes in explaining housing prices [ABSTRACT FROM AUTHOR]

Human population density in the coastal zone and potential impacts of climate change underscore a growing conflict between coastal development and an encroaching shoreline. Rising sea-levels and increased storminess threaten to accelerate coastal erosion, while growing demand for coastal real estate encourages more spending to hold back the sea in spite of the shrinking federal budget for beach nourishment. As climatic drivers and federal policies for beach nourishment change, the evolution of coastline mitigation and property values is uncertain. We develop an empirically grounded, stochastic dynamic model coupling coastal property markets and shoreline evolution, including beach nourishment, and show that a large share of coastal property value reflects capitalized erosion control. The model is parameterized for coastal properties and physical forcing in North Carolina, U.S.A. and we conduct sensitivity analyses using property values spanning a wide range of sandy coastlines along the U.S. East Coast. The model shows that a sudden removal of federal nourishment subsidies, as has been proposed, could trigger a dramatic downward adjustment in coastal real estate, analogous to the bursting of a bubble. We find that the policy-induced inflation of property value grows with increased erosion from sea level rise or increased storminess, but the effect of background erosion is larger due to human behavioral feedbacks. Our results suggest that if nourishment is not a long-run strategy to manage eroding coastlines, a gradual removal is more likely to smooth the transition to more climate-resilient coastal communities. [ABSTRACT FROM AUTHOR]

This article describes an examination of the property of large real estate owners in the Information of Test Property Value Calculation project. A pattern of seven owners has been made, which can be considered representatives of property, considering the characteristics of their property and the type of ownership. Based on this pattern, the relationships between their internal records and the real estate registry database have been analysed, and problems that occurred during the informing of the test property value calculation have also been noted. The pattern consisted of 26,792 constituent parts of real estate, which represents 0.4% of all the real estate parts noted in the real estate registry. Discrepancies have been divided into four sets, and characteristics of these sets have also been given. The article also presents the inclusion of the private sector in to the Information process. Analysis results show that the cause of most of the detected discrepancies is the lack of responsibility of owners towards their property. [ABSTRACT FROM AUTHOR]

Nearly fifty years after the passage of the Fair Housing Act, race-based residential segregation remains remarkably persistent, as do significant racial disparities in economic well-being. This Comment argues that one contributing factor to the persistence of segregation is different access to legal protections for property value enjoyed by minority and white homeowners. Historically, local land use regulations like zoning effectively served as legally permissible "race-neutral" means of replacing expressly race-based means of keeping "undesirables" out of white middle-class neighborhoods. Congress enacted the Fair Housing Act in 1968 to counter this deeply entrenched form of discrimination and to help achieve "truly integrated and balanced living patterns." But in practice, many federal courts interpreting this civil rights statute have come to see themselves as the guardians of the property interests of middle-class and white families, overprotecting these families from perceived threats to property value caused by government efforts to promote integration. At the same time, these courts underprotect low-income and minority families from property value depreciation and displacement caused by "environmental segregation" and redevelopment. A closer look at the disparity in judicial treatment reveals a critical bias: an unquestioning acceptance of the assertion that the very presence of low-income and minority families can lead to the loss of property value. In order to move beyond the zero-sum game that pits the property interests of middle-class and white residents against those of low-income and minority residents, courts must end the legal double standard that allows the residual harms and unequal benefits of historical segregation to continue accruing to this day. [ABSTRACT FROM AUTHOR]

Discusses and defines the concepts of property value, true property value and examined property value. Relation between property and property value; Definition of the true value of a quantity; Use of the term observed value in lieu of examined property value.

Background: Residential property is reported as the most valuable asset people will own and therefore provides the potential to be used as a socio-economic status (SES) measure. Location is generally recognised as the most important determinant of residential property value. Extending the well-established relationship between poor health and socio-economic disadvantage and the role of residential property in the overall wealth of individuals, this study tested the predictive value of the Relative Location Factor (RLF), a SES measure designed to reflect the relationship between location and residential property value, and six cardiometabolic disease risk factors, central obesity, hypertriglyceridemia, reduced high density lipoprotein (HDL), hypertension, impaired fasting glucose, and high low density lipoprotein (LDL). These risk factors were also summed and expressed as a cumulative cardiometabolic risk (CMR) score. Methods: RLF was calculated using a global hedonic regression model from residential property sales transaction data based upon several residential property characteristics, but deliberately blind to location, to predict the selling price of the property. The predicted selling price was divided by the actual selling price and the results interpolated across the study area and classified as tertiles. The measures used to calculate CMR were collected via clinic visits from a population-based cohort study. Models with individual risk factors and the cumulative cardiometabolic risk (CMR) score as dependent variables were respectively tested using log binomial and Poisson generalised linear models. Results: A statistically significant relationship was found between RLF, the cumulative CMR score and all but one of the risk factors. In all cases, participants in the most advantaged and intermediate group had a lower risk for cardio- metabolic diseases. For the CMR score the RR for the most advantaged was 19% lower (RR = 0.81; CI 0.76-0.86; p <0.0001) and the middle group was 9% lower (RR = 0.91; CI 0.86-0.95; p <0.0001) than the least advantaged group. Conclusions: This paper advances the understanding of the nexus between place, health and SES by providing an objective spatially informed SES measure for testing health outcomes and reported a robust association between RLF and several health measures. [ABSTRACT FROM AUTHOR]

Public transport investment is normally targeted at increasing accessibility which land rent theory identifies and will in turn increase land values. There is a clear policy interest in how much land values increase following a new transport investment so as to establish if there is sufficient land value uplift to capture and to help pay or contribute to investment plans. Identifying an uplift for residential land has been well studied in the context of new light rail systems and bus rapid transit (BRT) systems in developing countries but there is little evidence for BRT in developed countries. This paper has two objectives. First, to examine long term impact of BRT in a developed world context in Brisbane, Australia. Brisbane's BRT uses an open system design which contrasts with the closed system design of the successful BRT systems in South America and elsewhere, including the BRT in the suburbs of Sydney, Australia. Second, BRT in Brisbane was introduced to a network already dominated by a radial heavy rail network and this investigation recognises that the uplift from BRT introduction may therefore be different to a BRT in a single mode city. A third motivation is to consider the spatial distribution of uplift which is an essential pre-requisite to understanding the distributional impact if uplift is used to contribute to infrastructure provision. Spatial modelling is used to examine the accessibility impacts of the BRT at a global level. This is followed by Geographical Weighted Regression, used to examine the spatial distribution of accessibility using a local model. The results show that there is greater uplift in Brisbane, as compared to that identified by studies of Sydney's BRT which is likely due to the greater network coverage of BRT in Brisbane and less strong competition of rail. Land value uplift is also spatially distributed over the network giving higher uplift in some areas than others and lower values than typically found with rail based systems in developed countries. However, the degree of uplift is relatively low, with proximity to BRT stations attracting more uplift than proximity to train stations. [ABSTRACT FROM AUTHOR]

Abstract: In environmental economics, hedonic property value (HPV) models have often employed distance from a localized environmental disamenity as a proxy for perceived risk. The magnitude of a distance effect on housing prices, however, may depend upon the direction in which it is being measured. We generalize conventional distance models to allow for continuously varying directional effects by converting from Cartesian to polar coordinates. A simple empirical example (for housing prices around Woburn, Massachusetts, between 1988 and 1996) illustrates how failure to allow for directional heterogeneity can obscure otherwise statistically significant distance effects in HPV. [Copyright &y& Elsevier]

Abstract: Community development corporations seek to stabilize neighborhoods affected by the recent foreclosure crisis through acquisition and redevelopment of distressed properties. One rationale for this work is the alleviation or avoidance of negative foreclosure impacts. We estimate the lost value to proximate properties associated with a single foreclosure through a Markov chain representing probabilistic transitions between foreclosure stages. We apply our model to a case study of foreclosure properties in Chelsea, MA. A rank ordering by estimated property value impacts indicates significant potential gains in social value as compared to current community development practice. We extend our basic model to address the effects of clusters of foreclosed units upon the value of proximate properties. This study provides additional support for the use of decision modeling in foreclosed housing acquisition and redevelopment. [Copyright &y& Elsevier]

The material in this article was first presented during the 19th Annual GIS/CAMA Technologies Conference, March 2-4, 2015, in Oklahoma City, Oklahoma. The conference is jointly sponsored by the International Association of Assessing Officers (IAAO) and the Urban and Regional Information Systems Association (URISA). [ABSTRACT FROM AUTHOR]

Focuses on the general concept system on property value scale and quantity value scale. Coordinate sets that need no definition; Most primitive, holistic scale; Relevance of the ordinal property-value scale concept with the involvement of the magnitude of a property; Coordinate concept that requires the application of the ratio of magnitude.

Focuses on the general concept system on property value, quantity value and allied concepts. Nominal property value as the simplest concept in terms of mathematics; Coordinate concepts; Subordinates of property value that define its specific concepts; Definition of numerical value of a quantity.

An understanding of metropolitan spatial structure in property-value distribution is essential for international real-estate decisionmaking, yet knowledge accumulated in this area is limited because of data and methodology constraints. The author extends knowledge of the area by examining the spatial distribution pattern of housing prices (instead of the much-studied population and employment distributions) and two Pacific-Asia metropolises (rather than US cities or other cities in developed countries). Data were collected in Beijing, China, and Jakarta, Indonesia, from field reconnaissance surveys and interviews in 2000 and 2001. Digital terrain models were constructed for visualizing the property-value distributions. Profiles of the three-dimensional surfaces were extracted and curve-estimation statistics were used in a series of systematically selected geographical sectors in order to assess the intrametropolitan spatial variations. The findings suggest that neither of the two cities resembles a smooth surface featuring a cone, or the roof of a circus tent. Rather, Beijing's residential property value surface looks like a castellated rooftop, whereas Jakarta's resembles two television towers. The dynamic price terrains in the two cities are shaped by many factors, including their physical settings, history, and institutional frameworks. Intrametropolitan variations in property prices were remarkable in both cities. Properties in each of the systematically defined geographical sectors and in the history-development core show unique profiles and curvefitting statistics different from any other. The findings add to the existing generalizations and modeling exercises in the study of the internal structure of cities. [ABSTRACT FROM AUTHOR]

Abstract: Certified reference materials (CRMs) are essential tools to guarantee the metrological traceability of measurement results to the International System of Units (SI), which means the accuracy and comparability of results over time and space. In the pharmaceutical area, only a few CRMs are available and the use of (non-certified) reference materials is a much more common practice. In this paper, the studies on a new candidate CRM of sodium diclofenac based on the ISO Guides 34:2009 and 35:2005 are described. The project steps included characterization, homogeneity test, stability studies, and uncertainties estimation. In the characterization, the mass fractions of organic, inorganic, and volatile impurities were determined, and the results were cross-checked by independent reference methods or interlaboratorial study. The API mass fraction was calculated by mass balance and cross-checked by quantitative proton nuclear magnetic resonance (1H qNMR). The paper also presents a Monte Carlo simulation to estimate the measurement uncertainty as an approach to validate the GUM results in 1H qNMR. The homogeneity between batch units was verified, and the candidate CRM stability under transport and storage conditions was evaluated in short- and long-term stability studies. The CRM certified property value and corresponding expanded uncertainty, obtained from the combined standard uncertainty multiplied by the coverage factor (k =2), for a confidence level of 95%, was (999.76+0.10)mgg−1. [Copyright &y& Elsevier]

We investigate residential property-price effects of the spread of the Hemlock wooly adelgid infestation northward through central portions of Connecticut and Massachusetts, USA. We find that hemlock trees and the accompanying adelgid infestation within 0.1 km buffers of properties affect sale prices, but the results do not extend to buffers of 0.5 and 1.0 km's. Further, within the 0.1 km buffer, only the healthiest hemlock trees contribute positively to property values. We investigated the robustness of the results to three data interpolation methods, Kriging, Inverse Distance Weighting and Spline, and while there was some minor difference in outcomes the results are robust to these interpolation methods. Two property-price models were estimated, a traditional hedonic model with spatial fixed effects and a repeat sale model. The models provide substantially different property-price impacts and care needs to be taken when interpreting these estimates. Both approaches are limited but in different ways; the hedonic by potentially omitted variables and the repeat-sales by a limited number of observations. Our results provide some support for the repeat-sale model as the hedonic model with spatial fixed effects underperformed when both models were estimated using the same data. • Hemlock trees and the accompanying adelgid infestation within 0.1 km buffers of properties affect sale prices, but not for 0.5 and 1.0 km buffers. • Within the 0.1 km buffer, only the healthiest hemlock trees contribute positively to property values. • The results are robust to three data interpolation methods, Kriging, Inverse Distance Weighting and Spline. • A traditional hedonic with spatial fixed effects and a repeat-sale model provide substantially different property-price impacts. • The hedonic is potentially limited by omitted variables and repeat-sales model is limited by observations. • Results provide some support for the repeat-sale model while the hedonic with spatial fixed effects underperformed. [ABSTRACT FROM AUTHOR]

Phytophthora ramorum, cause of sudden oak death, is a quarantined, non-native, invasive forest pathogen resulting in substantial mortality in coastal live oak (Quercus agrifolia) and several other related tree species on the Pacific Coast of the United States. We estimate the discounted cost of oak treatment, removal, and replacement on developed land in California communities using simulations of P. ramorum spread and infection risk over the next decade (2010–2020). An estimated 734 thousand oak trees occur on developed land in communities in the analysis area. The simulations predict an expanding sudden oak death (SOD) infestation that will likely encompass most of northwestern California and warrant treatment, removal, and replacement of more than 10 thousand oak trees with discounted cost of $7.5 million. In addition, we estimate the discounted property losses to single family homes of $135 million. Expanding the land base to include developed land outside as well as inside communities doubles the estimates of the number of oak trees killed and the associated costs and losses. The predicted costs and property value losses are substantial, but many of the damages in urban areas (e.g. potential losses from increased fire and safety risks of the dead trees and the loss of ecosystem service values) are not included. [Copyright &y& Elsevier]

Discusses the concept of property value scale. Definition of scale in relation to measurement; Division of scale.

The rise of social networking platforms provides opportunities to examine the relationship between public emotion and housing price. This study investigates frequency and places of visits, population sentiment, and housing price using 8.7 million tweets retrieved from Manhattan, New York City in 2019. We implemented kernel density estimation, Getis-Ord G i hot spot analysis, and spatial lagged hedonic pricing models to identify the location variation of sentiment levels. The results show: (1) the spatial clustering of tweets frequency was highly related to land use types in places such as parks, financial districts, and train stations; (2) high sentiment levels coincided with high frequency clusters and higher positive sentiment is associated with higher housing price; and (3) sentiment level was significantly associated with housing price and building structure, amenities, and proximity to landmarks all had significant influences on housing price. The study indicates that a population with higher concentration of happiness correlates to higher property value and provides an innovative perspective to understand public sentiment in relation to housing price using social media data, supplemented by housing transaction data. We demonstrate a feasible framework for researchers and stakeholders to utilize in future urban and spatial geographical research. • Identify spatial clustering of tweets frequency and land use types. • Assess spatiotemporal characteristic of public sentiment using Twitter data. • Evaluate the relationship of public sentiment level to housing price at a neighborhood scale. [ABSTRACT FROM AUTHOR]

Objective: We aimed to demonstrate the association of bystander cardiopulmonary resuscitation (BCPR) with survival outcomes after pediatric out-of-hospital cardiac arrest (OHCA) by community property value groups.Methods: This observational study enrolled all emergency medical services (EMS)-treated pediatric OHCAs in Korea between 2012 and 2015. Enrolled patients were divided into three groups: BCPR with dispatcher-assistance (DA), BCRP-without-DA, and no-BCPR. Patients were categorized based on tertiles for property tax per capita of community in which the cardiac arrest occurred. The endpoint was survival to discharge. To test the interactive effects between BCPR and community property value on study endpoints, a multilevel logistic regression model with an interaction term was used.Results: A total of 2020 patients were enrolled (37.0% BCPR-with-DA, 14.5% BCPR-without-DA, and 48.5% no-BCPR). BCPR-with-DA and BCPR-without-DA were more likely to have higher rates of survival to discharge compared to no-BCPR (8.6% and 13.0% vs. 3.5%; AORs (95% CIs): 2.23 (1.33-3.74) and 2.87 (1.57-5.25)). By interaction analysis with community property tax per capita, the AORs for survival in BCPR-with-DA and BCPR-without-DA groups were 2.56 (1.03-6.38) and 3.48 (1.10-10.9) for high value communities, 2.25 (0.95-5.31) and 3.76 (1.53-9.23) in middle communities, and 1.88 (0.88-3.99) and 1.54 (0.57-4.17) in low value communities (interaction, p = 0.68).Conclusion: In pediatric OHCAs, BCRP was associated with improved survival outcomes. The survival benefits of BCPR did not differ significantly by community property value. [ABSTRACT FROM AUTHOR]

Every school-age child in San Antonio's Edgewood school district was eligible for a large, privately-funded tuition voucher from 1998 to 2008. This paper evaluates the impact of this voucher program on residential property values in the Edgewood district. Based on realtor data (multiple listing service), the findings reveal that during the period of the voucher program there was a 9.87% increase in house prices during the early years of the program, although an increase of only 1.10% during the later years when eligibility requirements were tightened. [ABSTRACT FROM AUTHOR]

This paper reflects on how we can productively theorise the contemporary treatment of property, by a range of different economic agents, as a locus for the attempted creation of economic value. Its argument is that the theorisation offered by David Harvey (1982) in The limits to capital has a continued and arguably even heightened relevance in the present-day context, but that this theorisation can be embellished with insights from the sociology of finance, particularly in regard to the power of representation. This argument is developed with reference to two parallel empirical ‘stories’ from early twenty-first century capitalism: the economist Hernando de Soto’s influential thesis about the ‘mystery of capital’ and his related policy ideas; and the attempts of western-based financiers to extract profit from companies with significant real estate assets by separating those property assets from the operational side of the businesses in question. [ABSTRACT FROM AUTHOR]

Growing trends in the development and application of intellectual property (IP) witnessed in recent years suggest an expanding role of technology and innovation in global economies and daily life. Such trends account for increasing research interest in strategies for the management of IP and potential opportunities for broadening the scope of IP value. This study reviews 168 journal articles on IP value, identifying main research concepts and strategies for managing IP value. Using insights from the review, the study provides a multi-level framework describing the dominant logic and key factors for managing IP value. The framework proposes a network-dominant logic for collaboration, which collects and generates collective IP value, and a risk-dominant logic for management, which evaluates and mitigates possible IP value loss. The study also contains recommendations on some potential future research directions for studying IP value. [ABSTRACT FROM AUTHOR]

Presents a case study of the influence of natural resource characteristics on property value in three representative counties of Michigan's northern lower peninsula. Hedonic price model; Internal and external validity of results; Possibility of identifying the location of developmental pressure given a surge in seasonal home development.

This article examines the role of statute law in regulation and government intervention through a detailed historical case study of a crucial retail market. The history of state intervention in the Israeli oil supply market is dominated by "fuzzy legality," a concept expounded in a former article. Legal fuzziness allowed the industry, acting in concert with the government regulator, to retain a lucrative, practically non-accountable arrangement in changing politico-economic climates. Three central forces encouraged continuing fuzziness.' a "cloud"of state security, institutional stickiness that preserved colonial mandatory legal structures, and a prevalent national culture of nonlegalism. The article ends with a careful suggestion regarding the Israeli national style of regulation. Compared to American "adversarial legalism," and its opposite, "consensual nonlegalism" the Israeli style may be termed "adversarial nonlegalism," and holds less promise for balancing market and public interests. [ABSTRACT FROM AUTHOR]

This paper seeks to gain a clearer understanding of Hong Kong's state-led urban renewal, its justification and value effects, with a concentrate on the redevelopment of occupied dwellings into new residences. This study revisits the establishment of the Urban Renewal Authority (URA) and analyzes key differences in how this agency differs from its predecessor. The theoretical analysis shows that the problem of multi-ownership has played a key role in fostering the pattern of urban renewal in Hong Kong. Given this we propose that the political power of resumption (i.e., taking or eminent domain) critically shapes the URA's low-cost advantage in land assembly and forms the basis that carves a niche for state-led redevelopment. This proposition is tested by estimating externalities of transforming Tong Lau —Hong Kong's unique type of historical strata titled housing—to residences fitting to the modern building structure using difference-in-differences techniques. Findings reveal significant and prolonged effects of urban renewal projects on nearby housing prices. This paper implores researchers and policy-makers to pay attention to residential renewal and questions about why a redevelopment project should be led by the public sector. • This paper investigates the role of government in urban renewal. • The paper concentrates on tong lau —multi-owned buildings in Hong Kong. • Thesis of this paper follows an abductive strategy and is empirically corroborated. • The study generates implications to a broader context beyond the focal case. [ABSTRACT FROM AUTHOR]