Effect Of Location, Neighborhood Quality, And House Quality On Property Values In Memphis
Effect of Location, Neighborhood Quality, and House Quality on Property Values in Memphis
Chris Kamphaus
April 26, 2007
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Abstract
As the cost of living in America climbs, so does the importance of measuring the value of homes and the inputs that affect them. If one can accurately estimate the value of a home, it makes for a better informed consumer, who can make smarter decisions when it comes to purchasing a residence. As the average American spends 62% of annual income on housing costs, it is evident that if misinformed, money can be unnecessarily foregone. This study was designed to examine the differences between housing prices in different geographical locations of Memphis, Tennessee, Hedonic pricing models allow us to get accurate estimates of these factors that affect value. The main objective was to test the effect of dwelling specific inputs on price in three different regions of......
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Approximate Word Count: 2849
Approximate Pages: 12 (250 words per double-spaced page)
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