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| Valuation of Property Surrounding a
Resort Community Author: Ronald W. Spahr and Mark A. Sunderman Start Page: 227 Abstract: This article uses
hedonic modeling for valuation of real estate located near Jackson, Wyoming and
agricultural property throughout the remainder of Wyoming. The attributes of the hedonic
model used to value resort properties are compared with attributes of the model used to
value agricultural properties. It is observed that attributes affecting the value of
resort property are significantly different from attributes affecting the value of
agricultural property. Resort properties, even though classified as agricultural, derive
their values from scenic amenities, existence of streams, vegetation and relative
location. Alternatively, agricultural lands throughout the remainder of Wyoming derive
value from a combination of productive and nonproductive attributes. |
