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Historic façade easements and single‐family home value: a case study of Savannah, Georgia (USA)

Kimberly Winson‐Geideman (Department of Finance, Insurance, Real Estate and Law, College of Business Administration, University of North Texas, Denton, Texas, USA)
Dawn Jourdan (University of Florida, Gainesville, Florida, USA)

International Journal of Housing Markets and Analysis

ISSN: 1753-8270

Article publication date: 8 March 2011

352

Abstract

Purpose

Several pending court cases regarding the valuation of historic façade easements and the associated tax credit have generated interest in the valuation of such preservation tools. The purpose of this paper is to assess the impact of façade easements on the value of single‐family home sales.

Design/methodology/approach

The hedonic method, initially applied to real estate economics by Rosen in 1974, is used to analyze the data.

Findings

Results contradict established theory and research on other property types, showing no observable impact.

Research limitations/implications

The paper is limited to a single historic district in the USA, though it is the largest and arguably one of the most important. Facade easements, however, are used in many cities, making the study relevant in other geographic areas.

Originality/value

Little empirical work has been conducted on façade easements, and none in the context of single‐family homes, making this research an important contribution to real estate valuation literature.

Keywords

Citation

Winson‐Geideman, K. and Jourdan, D. (2011), "Historic façade easements and single‐family home value: a case study of Savannah, Georgia (USA)", International Journal of Housing Markets and Analysis, Vol. 4 No. 1, pp. 6-17. https://doi.org/10.1108/17538271111111802

Publisher

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Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited

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