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 -