The price effects of HVTLs on abutting homes

• Published in: The Appraisal journal 2013-01, Vol.81 (1), p.45
• Main Authors: Bottemiller, Steven C, Wolverton, Marvin L
• Format: Article
• Language: English
• Subjects: Appraisers; Case studies; Dwellings; Electric power lines; Environmental aspects; Homeowners; Housing; Housing prices; Influence; Laws, regulations and rules; Literature reviews; Power; Power lines; Pricing; Property values; Real estate appraisal; Real estate sales; Regression analysis; Right of way; Single family; Studies; Surveys; Valuation
• ISSN: 0003-7087

This article reports findings of an empirical study of Portland, OR, and Seattle, WA, housing markets. It examines the price effect of abutting high-voltage transmission line (HVTL) rights of way. The results are based on an examination of a rich sample of single-family home sales occurring in 2005, 2006, and half of 2007. It adds to an understanding of residential HVTL proximity price effects in a number of ways: it revisits the Portland and Seattle housing markets during a different market period; it relies on data from a seller's market in the housing market cycle; it relies on richer and larger data sets than prior research in these markets; it confirms many findings of a previous study concerning how abutting homes are affected by HVTLs; and it provides a new perspective on the Seattle market by investigating the HVTL price effect on higher-priced homes. It also buttresses the idea that all markets do not react in the same way to HVTL proximity. [PUBLICATION ABSTRACT]