Hello Billr4,
Below you will find studies, reports and articles regarding hazardous
waste and property values.
Impact of a Toxic Waste Superfund Site on Property Values
?This study analyzes the impact on property values of a toxic waste
Superfund in Uniontown, Ohio. During the period of peak publicity
surrounding the controversy, property values within 6,750 feet of the
landfill declined significantly. The diminution in property values was
directly related to proximity to the landfill, with impacts ranging
from approximately 5% for the most distant properties to 15% for the
closer properties. Estimated damages associated with approximately
1,600 residential and certain commercial properties totaled just under
$11 million?
Download here: 12 Pages
http://207.208.196.137/webpac-bin/pdf/ToxicWasteSite.pdf
=========================================
Do Property Values Rebound from Environmental Stigmas?
Evidence from Dallas
By Larry Dale Law and Economics Consulting Group
Download here: 17 pages
http://www-rohan.sdsu.edu/faculty/mthayer/dallas2.PDF
=========================================
Environmental Contamination and Industrial Real Estate Prices
By Thomas Jackson
?This article is the winner of the Industrial Real Estate manuscript
prize (sponsored by Society of Industrial and Office REALTORS)
presented at the American Real Estate Society Annual Meeting. This
article examines the effects of environmental contamination on the
sales prices of industrial properties. Two general questions are
addressed. The first is the extent to which sales prices may be
impacted by contamination. The second is whether sales price effects
due to contamination persist subsequent to the remediation of
previously contaminated industrial properties. Using data on
industrial property sales in Southern California, this study estimates
sales price models that address these two questions. The results show
that there are statistically significant impacts on property values in
the period before and during remediation, but that these effects
dissipate subsequent to cleanup.?
http://ideas.repec.org/a/jre/issued/v23n1-22002p179-200.html
Download here : (22 pages)
http://cbeweb-1.fullerton.edu/finance/journal/papers/pdf/past/vol23n0102/11.179_200.pdf
=========================================
The Benefits of Reducing Exposure to Waste Disposal Sites: A Hedonic
Housing Value Approach
Abstract
?A large detailed data set is used to examine the relationship between
housing prices and several environmental quality indicators
representing air, water, and land influences. Our primary concern is
the influence of waste site proximity on housing prices. The results
indicate that individuals consider waste site proximity in their
housing purchases, yielding a measurable price gradient with two
important characteristics. First, the price gradient levels off with
distance from the waste site. Second, distance from hazardous waste
sites is more valuable than distance from nonhazardous waste sites.
These results are relatively robust, remaining stable as estimated
functional form and sample size varies.?
http://ideas.repec.org/a/jre/issued/v7n31992p265-282.html
Download here: 18 pages
http://cbeweb-1.fullerton.edu/finance/journal/papers/pdf/past/vol07n03/v07p265.pdf
=========================================
Here is an article from the Wahington State University School of Economic Sciences:
Stigma of Environmental Damage on Residential Property Values
Researchers: Jill McCluskey, Washington State University and Gordon C.
Rausser, University of California, Berkeley
Collaborator: Ray G. Huffaker, Washington State University
Read the full text of this article here:
http://www.ses.wsu.edu/Projects/envdamage.htm
=========================================
Economic Impacts of Noxious Facilities: Incorporating the Effects of Risk Aversion
Leslie A. Nieves
Read the full text of this article here:
http://www.piercelaw.edu/risk/vol4/winter/nieves.htm
=========================================
Estimation of Perceived Risk and Its Effect on Property Values
Jill J. McCluskey and Gordon C. Rausser
Download here: 31 pages
http://www.cnr.berkeley.edu/pdf/dean_rausser/estimation_perceived_risk.pdf
=========================================
The Impact of Detrimental Conditions on Property Values
Download here: 12 pages
http://www.realestatedamages.com/Articles/Randy/DetrimentalConditions.pdf
=========================================
Information Flows and the Impact of PCB Contamination on Property Values
Download here 98 pages
http://www.williams.edu/CES/mattcole/resources/onlinepaperpdfs/hardie/erickson.pdf
=========================================
Smolen, G., G. Moore and L. Conway, Economic Effects of Hazardous
Chemical and Proposed
Radioactive Waste Landfills on Surrounding Real Estate Values, Journal
of Real Estate Research,
Summer 1992, 7:3, 283?96
Abstract
?The results of the study of residential housing prices of homes
located in the proximity of a large toxic chemical waste landfill in
the Toledo, Ohio, area for 1986-1990, strongly suggest a distinct
negative impact on sale prices for homes located within 2.6 miles of
the existing site, and a diminishing impact before a distance of 5.75
miles is reached. Within the 0-2.6 mile range of the Envirosafe
Landfill, a $14,200 premium was found for each mile a house was
located away from the Landfill. The premium is greater than found in
other studies. A second proposed site in 1989, for low-level
radioactive wastes, showed a clear, initial negative impact on housing
sales prices upon announcement, but the negative effect on prices
dissipated soon after extensive public resistance became evident and
caused the proposal to be canceled.?
http://ideas.repec.org/a/jre/issued/v7n31992p283-296.html
Download here: 13 pages
http://cbeweb-1.fullerton.edu/finance/journal/papers/pdf/past/vol07n03/v07p283.pdf
=========================================
The Effect of Underground Storage Tanks on Residential Property Values in Cuyahoga
County, Ohio
Abstract:
?This study considers the effect of underground storage tanks on
residential sales price. These effects are tested with a hedonic
pricing model for all 1992 residential sales in Cuyahoga County, Ohio.
Three types of tanks were tested: non-leaking tanks registered with
the State of Ohio, leaking tanks that are currently not registered,
and registered leakers. Results show that close proximity (same block
or within 300 feet) to registered, non-leaking tanks and to
unregistered leakers did not significantly affect sales price.
However, proximity to a leaking, registered tank demonstrated a
reduction in price of over 17%.?
Download here: 14 pages
http://137.151.62.168/finance/journal/papers/pdf/past/vol14n01/v14p029.pdf
=========================================
The Impact of Contamination on the Canton/Southeast Baltimore Land Market
Journal of the American Planning Association.
Vol. 66, No. 4. pp. 411-420.
Read abstract here:
http://www.arch.umd.edu/URSP/People/faculty/mhowland/howlandjap00.html
=========================================
Waste facility impacts on property values
C. Zeiss
Waste Management and Research
Vol. 17 Issue 1 Page 50 February 1999
Read abstract here:
http://www.blackwell-synergy.com/links/doi/10.1034/j.1399-3070.1999.00002.x/abs/
An online subscription or single article purchase is required to
access this article:
http://www.blackwell-synergy.com/servlet/useragent?func=callWizard&wizardKey=salesAgent:1107370902312&action=show
=========================================
PRIVATE VALUES OF RISK TRADEOFFS AT SUPERFUND SITES: HOUSING MARKET
EVIDENCE ON LEARNING ABOUT RISK
Authors: Gayer T.; Hamilton J. T.; Viscusi W.K.
Source: The Review of Economics and Statistics, 1 August 2000, vol.
82, no. 3, pp. 439-451(13)
Publisher: MIT Press
Read abstract here:
http://www.ingentaconnect.com/search/expand?pub=infobike://mitpress/restat/2000/00000082/00000003/art00008
The full text article is available for purchase $10.00 plus tax
=========================================
Nuclear Power Plants and Residential Housing Prices
Read abstract here:
http://www.ingentaconnect.com/search/expand?pub=infobike://bpl/grow/1997/00000028/00000004/art00069
The full text article is available for purchase
=========================================
Housing price responses to newspaper publicity of hazardous waste sites
Ted Gayer, , a and W. Kip Viscusib
Resource and Energy Economics
Volume 24, Issues 1-2 , 15 February 2002, Pages 33-51
Abstract
?This paper uses housing market data to examine the relationship
between newspaper coverage of local hazardous waste sites and housing
prices. We explore a range of measures of newspaper publicity,
including the number of Superfund-related articles, the number of such
articles that focus on the risk levels at the sites, and the number of
such articles that appear on page one or section A. We restrict our
sample to those houses sold more than once in order to eliminate
confounding timE?invariant determinants of housing price. Our findings
indicate a price increase of approximately US$ 100?200 per article,
which could suggest that the publicity either led residents to lower
their perceptions of risk or led them to increase their expectations
of a clean-up (or both). ?
http://www.sciencedirect.com/science/article/B6VFJ-470M9DD-4/2/d2ae00bc2430bd3f05c9aa458b9ffbcc
A single article purchase is required to access this article:
http://www.sciencedirect.com/science?_ob=MImg&_imagekey=B6VFJ-470M9DD-4-6&_cdi=6012&_user=10&_orig=na&_coverDate=02%2F15%2F2002&_sk=999759998&view=c&wchp=dGLbVzz-zSkzV&md5=6916a8874ea530059f62da9fc8f8f562&ie=/sdarticle.pdf
=========================================
Externality effects of small-scale hazardous waste sites: evidence
from urban commercial property markets
Journal of Environmental Economics and Management
Volume 47, Issue 1 , January 2004, Pages 117-139
Abstract
?Studies have found that severely contaminated properties, such as
those on the U.S. EPA's National Priority List (NPL), reduce the value
of nearby single-family homes. However, the vast majority of hazardous
waste sites (HWS) are not so severely contaminated as those on the
NPL. We also know little about HWS effects on other land-uses such as
commercial and industrial properties, which may be of greater interest
since these properties are more likely to be located near contaminated
sites. Using data for Atlanta, Georgia, HWS are found to negatively
affect the market value of nearby commercial and industrial
properties. Although none of the HWS in this study are on the NPL,
their impacts are estimated to be quite substantial in magnitude.
Estimates of the total value losses caused by many of the sites are
sufficiently large relative to the cost of remediation to justify
tax-increment financing as a clean-up option.?
http://www.sciencedirect.com/science?_ob=ArticleURL&_aset=B-WA-A-W-BV-MsSAYVW-UUW-AAUEEZWCVE-AAUDCVBBVE-YECVZZZDA-BV-U&_rdoc=9&_fmt=summary&_udi=B6WJ6-4979HP0-1&_coverDate=01%2F31%2F2004&_cdi=6870&_orig=search&_st=13&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=3ecdc63c07298ae9a63bcbc3138483f5
Purchase here:
http://www.sciencedirect.com/science?_ob=ArticleURL&_aset=B-WA-A-W-BV-MsSAYVW-UUW-AAUEEZWCVE-AAUDCVBBVE-YECVZZZDA-BV-U&_rdoc=9&_fmt=full&_udi=B6WJ6-4979HP0-1&_coverDate=01%2F31%2F2004&_cdi=6870&_orig=search&_st=13&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=888e6a73afa1092240aacf33e702ecbb
=========================================
Undesirable facilities and property values: a summary of empirical studies
Abstract
?Undesirable land uses are expected to impose health or amenity risks
on surrounding communities. These risks are expected to be translated
economically into negative effects on adjacent property values. These
negative effects may be present even when such uses possess offsetting
advantages of proximity, such as employment opportunities. The purpose
of this study is to summarize empirical studies completed to date that
test whether undesirable land uses have observable negative effects on
adjacent property values. This information may be useful in assessing
minimum valuations of terminating undesirable land uses, such as
clean-up of hazardous sites, or compensation necessary to ameliorate
the economic impacts of new undesirable uses.?
http://www.sciencedirect.com/science/article/B6VDY-3T8365G-1/2/4dbd5e181d54ae00e418f15acabe8fb9
Purchase article here:
http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VDY-3T8365G-1&_user=10&_coverDate=01%2F31%2F1998&_rdoc=1&_fmt=full&_orig=na&_cdi=5995&_docanchor=&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=22d2146503c079500281565642124fa2
=========================================
Chapter 19 of the following book might interest you.
Essays in Honor of William N. Kinnard, JR.
William N. Kinnard, Elaine M. Worzala (Editor), C. F. Sirmans (Editor)
Format: Hardcover
Pub. Date: January 2004
Chapter 19
The Effects on Residential Real Estate Prices from Proximity to
Properties Contaminated with Radioactive Materials
http://search.barnesandnoble.com/booksearch/isbninquiry.asp?ean=9781402075162&displayonly=TOC
Used copies at Amazon
http://www.amazon.com/gp/product/offer-listing/1402075162/ref=dp_more-buying-choices_2//103-3133438-9138238?condition=all
=========================================
Search criteria:
hazardous waste, property values, impact, studies, reports, research
I hope you find this information helpful!
Best regards,
Bobbie7 |
