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Impacts of Second Home Development on Housing Prices in the Southern Appalachian HighlandsAuthor(s): Seong-Hoon Cho; David H. Newman; David N. Wear
Source: RURDS Vol. IS. No. 3, November 2003
Publication Series: Miscellaneous Publication
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DescriptionThis study estimates the value of socioeconomic, spatial and environmental attributes on housing prices of both urban and rural communities in the primary and second home areas of the Southern Appalachian Highlands, using the hedonic property price model. Distance and environmental attributes are valued more heavily in the rural communities of the second home area than in the urban communities of the primary home area. The effect of second homes on housing prices is mainly evident in the rural communities. Second home development impacts a home's value by US$2,378, or 4.2% of $56.245, the average value of a rural home.
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CitationCho, Seong-Hoon; Newman, David H.; Wear, David N. 2003. Impacts of Second Home Development on Housing Prices in the Southern Appalachian Highlands. RURDS Vol. IS. No. 3, November 2003
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