Overview
Hazardous waste can have serious ramifications on the value of the subject property, not to mention the values of surrounding properties and neighborhoods.
References
We've already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require a password.
Impacts on Property Value
Water Contamination and Land Prices in a Mountainous Landscape, (SSRN Working Paper Series, May 2014)
Local Sustainability Policies and Programs As Economic Development: Is the New Economic Development Sustainable Development?, (Cityscape, 2013) E
Valuing the benefits of superfund site remediation: Three approaches to measuring localized externalities, (NBER Working Paper Series, Jan. 2011)
Shale Gas Development and the Costs of Groundwater Contamination Risk, (SSRN Working Paper Series, Mar. 2013)
A Meta-Analysis of the Effect of Environmental Contamination on Non-Residential Real Estate Values, (Journal of Property Investment & Finance, Vol. 29, Iss. 4/5, 2011) E
The Impact of Hazardous Waste on Property Values: The Effect of Lead Pollution, (Urbani izziv, Vol. 21, No. 2, 2010)
Contaminated Waterways and Property Valuation, (The Appraisal Journal, Fall 2008) E
Appraisal Techniques & Other Issues
Debundling Property Rights for Contaminated Properties: Valuing the Opportunity Cost of the Right to Sell, Using Cumulative Options, (International Real Estate Review, 2012)
Contaminated Waterways and Property Valuation, (The Appraisal Journal, Fall 2008) E
A Beginning Best Practice Brownfield Valuation Model, (The Appraisal Journal, Jan. 2002) E
Real Property Valuation Issues in Environmental Class Actions, (The Appraisal Journal, Spring 2010) E
Brownfields: The Basics & Appraisal Techniques
How Much Cleaning Up Brownfields Is Really Worth, (CityLab, July 29, 2014)
The Value of Brownfield Remediation, (NBER Working Paper Series, July 2014)
The Effect of Voluntary Brownfields Programs on Nearby Property Values: Evidence from Illinois, (SSRN Working Paper Series, Aug. 2012)
Solutions to the Five Key Brownfield Valuation Problems, (Journal of Property Investment & Finance, Vol. 26, Iss. 1, 2008) E
A Beginning Best Practice Brownfield Valuation Model, (The Appraisal Journal, Jan. 2002) E
Brownfields Projects
Ohio River Brownfields Projects, (Ohio River Trail Council, 2014)
Superfund Me: A Study of Resistance to Gentrification in New York City, (Urban Studies, Aug. 2013)
Turning Brownfields into Parks, (Planning, Vol. 77, Iss. 10, Dec. 2011) E
A New Era of Development: Rock Hill's Brownfield Renovation Project, (Government Finance Review, Oct. 2010) E
The Healthy Makeover, (Public Management, June 2010) E
Useful Websites
Agency for Toxic Substances and Disease Registry, (ATSDR)
EPA's Brownfields Website, (U.S. Environmental Protection Agency)
EPA's Superfund Website, (U.S. Environmental Protection Agency)
My Environment, (U.S. Environmental Protection Agency)
NAR Talking Points: How to Talk About Environmental Issues, (National Association of REALTORS®)
Smart Growth: A Toolkit for REALTORS®, (National Association of REALTORS®)
Books, eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
Pollution and Property (eBook)
Books, Videos, Research Reports & More
The resources below are available for loan through Member Support. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Member Support at 800-874-6500 for assistance.
Environmental hazards and residential property values: evidence from a major pipeline event, (Bellingham, WA: Western Washington University, 2006) NAC 1565 H19
Greenfields, brownfields and housing development, (Oxford, UK: Blackwell Publishers, 2002) NAC 852 A1
Valuing Contaminated Properties: An Appraisal Institute Anthology, (Chicago, IL: Appraisal Institute, 2002) HD1389.5.U6 V36 2002
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The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
