Mothorpe & Wyman publish real estate pricing article

A recently published issue of The Appraisal Journal includes a publication from colleagues Dr. David Wyman (Associate Professor of Entrepreneurship) and Dr. Chris Mothorpe (Chair and Associate Professor, Department of Economics). The article, “The Price is Right? The Impact of a Scenic View on the Pricing of Residential Property”, demonstrates the impact of a scenic view on housing property prices by examining the impact of the addition of a new reservoir in Fayette County, Georgia. The costs of property with the scenic view increased, even as nearby lots without the view remained the same. As quoted from their abstract, “Overall, the study shows the inclusion of micro-spatial and temporal view variables in pricing models can help appraisers, researchers, and real estate professionals ensure accurate pricing.”

Congrats to Dr. Wyman and Dr. Mothorpe on this timely and impactful publication.