The influence of natural resource characteristics on property value: A case study

William C. Gartner, Daniel E. Chappelle, T. C. Girard

Research output: Contribution to journalArticlepeer-review

10 Scopus citations

Abstract

The analysis and results discussed in this article were developed as part of a study of landed property and home owners (including seasonal homes) in three representative counties of Michigan's northern lower peninsula. A model similar to the hedonic price method was used to isolate certain natural resource characteristics and determine if property value fluctuated with respect to location. This study attempted to measure the intrinsic worth of one's property and relate it to the existence and location of certain natural resource characteristics. Although the study areas were heavily endowed with natural resources, making generalization to other areas problematic, the use of a hedonic price type model appears to show promise in identifying specific locations where accelerated development might occur if the seasonal home market enters a new growth cycle.

Original languageEnglish (US)
Pages (from-to)64-71
Number of pages8
JournalJournal of Travel Research
Volume35
Issue number1
DOIs
StatePublished - Jan 1 1996

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