[sotd] February 20, 2004 [Home Values]
- From: "The Site of the Day" <sotd@xxxxxxxxxxxxxx>
- To: sotd@xxxxxxxxxxxxx
- Date: Fri, 20 Feb 2004 10:58:14 -0400
Site of the Day for Friday, February 20, 2004
Home Values
Today's site features two studies, the work of professors G. Stacy Sirmans
and David A. Macpherson of Florida State University and presented by the
U.S. National Association of Realtors. Gentle Subscribers will discover
academic reports which offer some startling revelations about the real
estate market value of an array of house features.
"A house is made up of a bundle of characteristic that determine its value,
even though it is difficult to estimate the effects of particular
characteristics. Researchers have conducted many studies that estimate the
effects of housing characteristics on home value, most using a hedonic
model." - from the website
The primary report presented at the site contains fascinating details about
the financial impact on the selling price of a house for items ranging from
fireplaces to security systems. The material is provided in .pdf format
(Acrobat Reader required) and offers a brief summary of the study,
information of an academic nature on the formulation of the report and the
full study complete with tables.
A more compact and easier to read formulation of general trends is
available in the second study, focusing on the Philadelphia area in the
U.S. The "Summary Table" of this report contains a number of riveting
details, such as exposed beams adding an estimated 4.6% to the selling
price of a house while an in-law suite may cause a 5.2% decrease.
Whip over to the site for some surprising information on the market impact
of various house features at:
http://www.realtor.org/Research.nsf/Pages/NCRERHomeValues?OpenDocument
If the above URL wraps in your e-mail client, enter it all on one line in
your browser or use this TinyURL:
http://tinyurl.com/344c5
A.M. Holm
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