Real Estate Commons^™

Split Estate, Thomas A. Ipri

Library Faculty Research

The concept of a split estate refers to the fact that owners of a property do not necessarily own the minerals and resources that reside under the property.
/="/">Debra Anderson’s Split Estate highlights the more damning aspects of this oddity by documenting how oil and gas companies are setting up shop on home
/="/">owner’s land. In some instances, oil rigs are constructing within 100 feet of people’s homes.

The Effects Of Gaming On Residential Real Estate Prices And Sales: A Case Study Of Las Vegas: 1990--2008, Christopher Alan Miller

UNLV Theses, Dissertations, Professional Papers, and Capstones

This dissertation empirically investigates the effects of the gaming industry on a local economy, specifically housing prices and sales in the city and surrounding areas of Las Vegas. This study explores many of the economic effects that Las Vegas' relatively unrestricted gaming industry has on surrounding home prices and sales and analyzes the specific forces and the issues they involve. As of this writing, little to no research has used seminal economic theories to analyze the effects of the performance of a locale's gaming industry on the surrounding residential real estate market. This study addresses this gap by examining the …

Perspectives On Timeshare Ownership: An Exploratory Study Of Markets In China, Kai-Li Chi

UNLV Theses, Dissertations, Professional Papers, and Capstones

This study aims to explore the attitudes of prospective customers in China about timeshares, and to identify potential marketing opportunities for timeshare companies targeting China. This exploratory study is the first of its kind and it intends to provide valuable information about the consumer potential for the timeshare industry in China. The findings indicate that consumer acceptance of timeshares in China is high. Six socio-demographic variables were identified as keys in predicting those with statistically significant likelihood of purchasing a timeshare within the next three years: age, occupation, marital status, annual household income, vacation frequency, and attendance at a previous …

Las Vegas: The Perils Of Deception Fueled Growth, William J. Smith, Ahmad Safi

Public Policy and Leadership Faculty Research

There are two types of deception – the deception of others and self-deception. Las Vegas thrives on both. Many would be aware of the importance of the first type of deception for the health of the Las Vegas economy, as they would for Macau, Monte Carlo, etc. Without the symbol of wealth to achieve elite global tourism status, and the ‘moth to the flame’ illusion of the likelihood of visitors to get ‘lucky’ and win great wealth, there would be no Las Vegas as it is known today. There is no other major reason to come to the city. There …

Housing In The Nation’S Micropolitan Areas: A First Look, Robert E. Lang, Karen A. Danielsen

Public Policy and Leadership Faculty Research

Micropolitan area is a newly defined unit of analysis for examining housing affordability. Before the creation of micropolitan areas in 2003, U.S. counties were categorized as either metropolitan or nonmetropolitan. The category of micropolitan area allows for a more detailed analysis of housing affordability conditions in areas with populations less than metropolitan areas but more than nonmetropolitan areas. Variables examined in this analysis of micropolitan areas include demographic and housing characteristics. A policy section highlights how the findings from this analysis may be applied to micropolitan geography.

Community Acceptance Of Affordable Housing, C. Theodore Koebel, Robert E. Lang, Karen A. Danielsen

Public Policy and Leadership Faculty Research

Despite historically low interest rates, organizations across the nation have become increasingly concerned about the impacts of regulatory constraints and anti-growth sentiments on the availability and cost of housing. This concern is by no means limited to a few “high cost” areas like Boston and San Francisco. It can also be found in Iowa City, where new single-family houses were recently selling from $150,000 to $375,000 (prices readily considered affordable in many larger metropolitan areas) and even in rural areas where spill-over growth and “drive to qualify” solve the commuter’s affordability problem while creating unforeseen affordability problems for the rural …

Effects Of Residential Xeriscape Conversions On Property Values: A Baseline Case Study, Andréa E. Baker

UNLV Theses, Dissertations, Professional Papers, and Capstones

The conversion of grass lawns to xeriscape has become more prevalent in the desert Southwest, including here in the Las Vegas Valley. The purpose of this thesis was to determine whether the conversion of residential landscapes from grass lawn to xeriscape influences the property value of a home. This case study involved the comparison of property values for residential homes that had participated in the Southern Nevada Water Authority’s Water Smart Landscapes rebate program and non-participant homes with similar amenities before and after the landscape conversion. The results of the analysis show that xeriscape dose have a potentially positive impact …

Evaluation Of The Hud Elder Cottage Housing Opportunity (Echo) Program, C Theodore Koebel, Julia Beamish, Karen A. Danielsen, Virginia Polytechnic Institute And State University

Public Policy and Leadership Faculty Research

ECHO housing was introduced in the United States in the 1980s based on a program started in Australia in 1975. An ECHO unit is a small house in which an elderly person resides and which is placed near the home of a host (either relatives or close friends of the elderly person). The purpose of this arrangement is to make it convenient and efficient for the occupants of the host family dwelling to provide assistance to the elderly person residing in the smaller ECHO house.

Although ECHO housing provides a means for keeping an elderly resident close to family and …

A Monte Carlo Analysis Of Hedonic Models Using Traditional And Spatial Approaches, Helen R. Neill, David M. Hassenzahl, Djeto D. Assane

Public Policy and Leadership Faculty Research

Hedonic regression analysis of single family homes typically includes structural variables, locational variables and neighborhood quality characteristics. When nearby properties are related, Dubin (1988) reports that error terms are spatially autocorrelated. Estimation methods for these spatially autocorrelated error terms or hereafter, spatial approaches, include maximum likelihood estimation (MLE) and kriging techniques such as kriged maximum likelihood estimation (KMLE). Unfortunately these spatial methods require massive computer resources and are limited to significantly fewer observations than traditional ordinary least squares (OLS). This paper investigates the combination of spatial approaches and Monte Carlo analysis, a method that approximates large data sets. A question …

The Impact Of Air Quality On The Selection Of A Home, Carol Lane

UNLV Theses, Dissertations, Professional Papers, and Capstones

Hedonic price method studies have assumed that individuals consider air quality as a characteristic of their homes. The purpose of this study is to determine if air quality is a significant characteristic considered when an individual decides where to live. This study uses a survey to determine where air quality ranks amongst the different characteristics of a home. My results show that air quality is significant but ranks below structural and neighborhood characteristics.

Target Marketing Can Help Attract City Residents, Robert E. Lang, James W. Hughes, Karen A. Danielsen

Public Policy and Leadership Faculty Research

While suburban growth continues, city living is regaining popularity. It is common knowledge that urban neighborhoods often attract young, single professionals, but a more precise identification of potential city dwellers could help cities understand and develop their comparative advantages. Now, perhaps more than ever, cities need to know which people want to live in them and how their vision of urban life may be accommodated by public policy.

/="/">A common concern expressed among urban mayors is that the quality of their city services, especially schools, stacks up poorly against that of most suburbs. Improving public education is often cited …

What Does Smart Growth Mean For Housing?, Karen A. Danielsen, Robert E. Lang, William Fulton

Public Policy and Leadership Faculty Research

Barely noticed amid the returns from the 1998 midterm elections was a quiet revolution that goes to the heart of how and where Americans live. While most news accounts focused on the high-profile candidate elections, voters across the nation-in Democratic and Republican areas alike-approved more than 160 state and local ballot measures intended to preserve open space and limit urban sprawl.

The coalition forming around the idea of limiting sprawl includes environmentalists, farmers, big-city mayors, and some developers. But perhaps most important, the so-called "smart growth" movement also includes many suburban voters who are fed up with growth. For example, …

Effect Of Foreclosure Status On Residential Selling Price: Comment, Thomas M. Carroll, Terrence M. Clauretie, Helen R. Neill

Public Policy and Leadership Faculty Research

In this comment we examine the conclusion by Forgey, Rutherford and VanBuskirk (1994) “that the foreclosed properties sold at a 23% discount,” using a sample of nearly 2,000 residential property sales from the Las Vagas, Nevada area. We found that when not controlling for location with a set of dummy variables for zip codes, HUD foreclosed properties sold for between 12.18% and 13.96% below a random sample of properties not within one block of foreclosed properties. When controlling for location, using a set of thirty-one dummy variables for zip codes, the foreclosure discount fell to between 8.45% and 9.72%. When …

Impact Of Hud Foreclosures On Housing Prices, Thomas Mike Carroll, Terrence M. Clauretie, Helen R. Neill, Cindy Jorgensen

Public Policy and Leadership Faculty Research

No abstract provided.