Influence of purchaser perceptions and intentions on price for forest land parcels: A hedonic pricing approach

Stephanie A. Snyder; Michael A. Kilgore; Rachel Hudson; Jacob Donnay

doi:10.1016/j.jfe.2007.04.002

Influence of purchaser perceptions and intentions on price for forest land parcels: A hedonic pricing approach

Stephanie A. Snyder, Michael A. Kilgore, Rachel Hudson, Jacob Donnay

Forest Resources

Research output: Contribution to journal › Article › peer-review

20 Scopus citations

Abstract

A hedonic model was developed to analyze the market for undeveloped forest land in Minnesota. Variables describing in situ conditions, locational characteristics, buyer perceptions and intentions, and transactional terms were tested for their influence on sale price. The independent variables explained 67% of the per hectare sale price variation. Water frontage, road access and density, absentee ownership, future intentions, and financing arrangements had large, positive influences on price. Lack of a real-estate agent and agricultural land in the vicinity of the parcel had negative influences. A parcel's merchantable timber volume was not a significant predictor of price.

Original language	English (US)
Pages (from-to)	47-72
Number of pages	26
Journal	Journal of Forest Economics
Volume	14
Issue number	1
DOIs	https://doi.org/10.1016/j.jfe.2007.04.002
State	Published - Jan 14 2008

Keywords

Forest finance
Forest land prices
Forest markets
Hedonic analysis
Price function

Access

10.1016/j.jfe.2007.04.002

Fingerprint Dive into the research topics of 'Influence of purchaser perceptions and intentions on price for forest land parcels: A hedonic pricing approach'. Together they form a unique fingerprint.

Cite this

@article{1a2d98d2f5074115b2ce20b81cfe7c98,

title = "Influence of purchaser perceptions and intentions on price for forest land parcels: A hedonic pricing approach",

abstract = "A hedonic model was developed to analyze the market for undeveloped forest land in Minnesota. Variables describing in situ conditions, locational characteristics, buyer perceptions and intentions, and transactional terms were tested for their influence on sale price. The independent variables explained 67% of the per hectare sale price variation. Water frontage, road access and density, absentee ownership, future intentions, and financing arrangements had large, positive influences on price. Lack of a real-estate agent and agricultural land in the vicinity of the parcel had negative influences. A parcel's merchantable timber volume was not a significant predictor of price.",

keywords = "Forest finance, Forest land prices, Forest markets, Hedonic analysis, Price function",

author = "Snyder, {Stephanie A.} and Kilgore, {Michael A.} and Rachel Hudson and Jacob Donnay",

year = "2008",

month = jan,

day = "14",

doi = "10.1016/j.jfe.2007.04.002",

language = "English (US)",

volume = "14",

pages = "47--72",

journal = "Journal of Forest Economics",

issn = "1104-6899",

publisher = "Urban und Fischer Verlag Jena",

number = "1",

}

TY - JOUR

T1 - Influence of purchaser perceptions and intentions on price for forest land parcels

T2 - A hedonic pricing approach

AU - Snyder, Stephanie A.

AU - Kilgore, Michael A.

AU - Hudson, Rachel

AU - Donnay, Jacob

PY - 2008/1/14

Y1 - 2008/1/14

N2 - A hedonic model was developed to analyze the market for undeveloped forest land in Minnesota. Variables describing in situ conditions, locational characteristics, buyer perceptions and intentions, and transactional terms were tested for their influence on sale price. The independent variables explained 67% of the per hectare sale price variation. Water frontage, road access and density, absentee ownership, future intentions, and financing arrangements had large, positive influences on price. Lack of a real-estate agent and agricultural land in the vicinity of the parcel had negative influences. A parcel's merchantable timber volume was not a significant predictor of price.

AB - A hedonic model was developed to analyze the market for undeveloped forest land in Minnesota. Variables describing in situ conditions, locational characteristics, buyer perceptions and intentions, and transactional terms were tested for their influence on sale price. The independent variables explained 67% of the per hectare sale price variation. Water frontage, road access and density, absentee ownership, future intentions, and financing arrangements had large, positive influences on price. Lack of a real-estate agent and agricultural land in the vicinity of the parcel had negative influences. A parcel's merchantable timber volume was not a significant predictor of price.

KW - Forest finance

KW - Forest land prices

KW - Forest markets

KW - Hedonic analysis

KW - Price function

UR - http://www.scopus.com/inward/record.url?scp=37549018119&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=37549018119&partnerID=8YFLogxK

U2 - 10.1016/j.jfe.2007.04.002

DO - 10.1016/j.jfe.2007.04.002

M3 - Article

AN - SCOPUS:37549018119

VL - 14

SP - 47

EP - 72

JO - Journal of Forest Economics

JF - Journal of Forest Economics

SN - 1104-6899

IS - 1

ER -