Viewshed Analyses to Measure the Impact of Lake Views on Urban Residential Properties

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Viewshed Analyses to Measure the Impact of Lake Views on Urban Residential Properties

By CostBenefit on Sep 6, 2008 | In Water, Land + Water, Academic Study/Journal Article, Midwest, Research Institute NGO NonProfit, Hedonic Analysis, Environmental Economics / Ecological Economics, Costs and Benefits | Send feedback »

Link: http://www.appraisalinstitute.org/taj/Default.aspx

Abstract: Views of two man-made lakes from nearby single-family homes in Omaha, Nebraska, were determined through multiple listing service (MLS) and geographic information system (GIS) frontage classifications, and alternative GIS-based analyses. The MLS underestimated the number of views by 79%. The GIS frontage classifications overestimated view numbers by 42%, while GIS viewshed analyses based on elevation data overestimated views by only 0.5%. Hedonic modeling determined that lake views increase home values by between 7.5% and 8.3%, which is substantial considering that the lakes were designed primarily for flood control and storm water management rather than recreational use.

by Steven Shultz and Nick Schmitz.
The Appraisal Journal http://www.appraisalinstitute.org/taj/Default.aspx
Volume 76, Issue 3; Summer, 2008; pages 224-233