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- Title
Opportunity Costs of Preserving Coastal Wetlands: A Case Study of a Recreational Housing Development.
- Authors
Batie, Sandra S.; Mabbs-Zeno, Carl C.
- Abstract
This article focuses on a case study of rural land prices at the urban fringe including subjective buyer expectations. The role of subjective expectations is especially important in a rapidly developing county where much of the growth is in the form of relatively small residential lots scattered throughout the urban fringe. In such counties, there are many speculators in the urban fringe land market. In an area with fewer speculators, less demand for building sites, and a lower probability of conversion, expectations may not be quite as important. Nevertheless, subjective expectations should be a significant determinant of price variations in any rural land market via their impact on anticipated future net benefits. This study contributes to the empirical land value literature by incorporating subjective expectations into a bid-price model for rural land in an urban fringe market. These studies have shown that there are many factors involved in the actual determination of rural land prices. These factors can be grouped into five general categories: external forces, land characteristics, seller characteristics, buyer characteristics, and expectations regarding future conditions.
- Subjects
RURAL land use; PRICES; URBAN fringe; SUBURBS; LAND value taxation; CASE studies
- Publication
Land Economics, 1985, Vol 61, Issue 1, p1
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3146134