Evaluating Subdivision Characteristics on Single Family Housing Value Using Hierarchical Linear Modelling

This research quantifies the financial effects of value creation concepts in relation to housing values in a single-family residential development using hierarchical linear modeling (HLM). As a result, value creation concepts such as sense of arrival, greenway connectivity, and the median length of cul-de-sac have positive effects on single family housing values while the number of accessible entrances and the median length of block variables have negative effects on single family housing values. These results indicate that higher values in a subdivision may result from smaller blocks, interconnected greenways, and a single entrance which provides a sense of arrival.

[1]  Darren K. Hayunga,et al.  Conservation Status and Residential Transaction Prices: Initial Evidence from Dallas, Texas , 2008 .

[2]  Jacob Cohen,et al.  Applied multiple regression/correlation analysis for the behavioral sciences , 1979 .

[3]  Robert A. Simons,et al.  The Value Impact of New Residential Construction and Neighborhood Disinvestment on Residential Sales Price , 1998 .

[4]  Lorne Campbell,et al.  Estimating Actor, Partner, and Interaction Effects for Dyadic Data Using PROC MIXED and HLM: A User–Friendly Guide , 2002 .

[5]  Randall S. Guttery.  The Effects of Subdivision Design on Housing Values: The Case of Alleyways , 2002 .

[6]  Paul Thorsnes,et al.  The Value of a Suburban Forest Preserve: Estimates from Sales of Vacant Residential Building Lots , 2002, Land Economics.

[7]  Chengri Ding,et al.  The Effect of Residential Investment on Nearby Property Values: Evidence from Cleveland, Ohio , 2000 .

[8]  J. R. Landis,et al.  The measurement of observer agreement for categorical data. , 1977, Biometrics.

[9]  Kenneth H. Brown,et al.  Neighborhood Affluence, School-Achievement Scores, and Housing Prices: Cross-Classified Hierarchies and HLM , 2007 .

[10]  P. K. Asabere,et al.  The value of a neighborhood street with reference to the cul-de-sac , 1990 .

[11]  Greg Lindsey,et al.  Sustainability and Urban Greenways: Indicators in Indianapolis , 2003 .

[12]  Margaret A. House,et al.  Children's perceptions of river landscapes and play: what children's photographs reveal , 2004 .

[13]  I G Kreft,et al.  The Effect of Different Forms of Centering in Hierarchical Linear Models. , 1995, Multivariate behavioral research.

[14]  A. Satorra,et al.  Complex Sample Data in Structural Equation Modeling , 1995 .

[15]  J. Clapp,et al.  Estimating price trends for residential property: A comparison of repeat sales and assessed value methods , 1992 .

[16]  M. Hardy.  Regression with dummy variables , 1993 .

[17]  Bulent Uyar,et al.  A Hierarchical Linear Model Approach for Assessing the Effects of House and Neighborhood Characteristics on Housing Prices , 2004 .

[18]  Robert A. Simons,et al.  The Effect of School Quality on Residential Sales Price , 2009 .

[19]  Elena G. Irwin,et al.  The Effects of Open Space on Residential Property Values , 2002, Land Economics.

[20]  Augmenting Housing Sales Data to Improve Hedonic Estimates of Golf Courses , 2008 .

[21]  J. Geoghegan.  The value of open spaces in residential land use , 2002 .

[22]  Y. Kestens,et al.  Landscaping and House Values: An Empirical Investigation , 2002 .

[23]  Noelwah R. Netusil,et al.  THE EFFECT OF OPEN SPACES ON A HOME'S SALE PRICE , 2001 .

[24]  Katherine A. Kiel.  Measuring the Impact of the Discovery and Cleaning of Identified Hazardous Waste Sites on House Values , 1995 .

[25]  Sian Mooney,et al.  The Influence of Riparian Protection Measures on Residential Property Values: The Case of the Oregon Plan for Salmon and Watersheds , 2002 .

[26]  Stephen W. Raudenbush,et al.  Neighborhood Effects on Educational Attainment: A Multilevel Analysis. , 1991 .

[27]  S. West,et al.  Multiple Regression: Testing and Interpreting Interactions. , 1994 .

[28]  Yan Song,et al.  New urbanism and housing values: a disaggregate assessment , 2003 .

[29]  J. Hox,et al.  Sample sizes for multilevel modeling , 2002 .

[30]  Dimitrios Asteriou,et al.  Applied Econometrics: A Modern Approach Using Eviews and Microfit , 2005 .

[31]  Noelwah R. Netusil,et al.  The impact of open spaces on property values in Portland, Oregon , 2000 .

[32]  Robert S. Bednarz,et al.  A Hedonic Model of Prices and Assessments for Single-Family Homes: Does the Assessor Follow the Market or the Market Follow the Assessor? , 1975 .

[33]  W. Hendon,et al.  The Park as a Determinant of Property Values , 1971 .

[34]  Brian W. Baetz,et al.  EVALUATING PEDESTRIAN CONNECTIVITY FOR SUBURBAN SUSTAINABILITY , 2001 .

[35]  Terry C. Daniel,et al.  Predicting scenic quality for mountain pine beetle and western spruce budworm damaged forest vistas , 1982 .

[36]  Sampei Yamashita,et al.  Perception and evaluation of water in landscape: use of Photo-Projective Method to compare child and adult residents' perceptions of a Japanese river environment , 2002 .

[37]  Mingche M. Li,et al.  Micro-Neighborhood Externalities and Hedonic Housing Prices , 1980 .

[38]  J. Sallis,et al.  Environmental correlates of walking and cycling: Findings from the transportation, urban design, and planning literatures , 2003, Annals of behavioral medicine : a publication of the Society of Behavioral Medicine.

[39]  John L. Crompton,et al.  The impact of parks on property values: empirical evidence from the past two decades in the United States , 2005 .

[40]  Anthony S. Bryk,et al.  Hierarchical Linear Models: Applications and Data Analysis Methods , 1992 .