This paper examines the effect of a middleman on the search and trading behavior of the traders. It is shown that the buyer and seller types with middle valuations choose to search for each other, while the buyer and seller types with high or low valuations drop out of the search market and...

This paper examines the impact of brokers on buyers' and sellers' search behavior and on the transaction prices in real estate markets. It is shown that the seller and the buyer search less intensively if the house is listed with a broker. The seller gets a higher price when he employs a broker,...

G. C. Haas produced a hedonic study more than 15 years prior to A. T. Court who first published the term hedonics. Haas's application was to agricultural land prices with a particular focus on distance to the city center and city size. Thus, Haas's work has much of the flavor of contemporary...

The majority of studies examining the impact of group homes on neighborhood property values have found that group homes do not adversely effect property values. In our study of seven group homes neighborhoods in DuPage County, Illinois, we find that properties which are proximate to group homes...

Conventional wisdom holds that overbuilding and high vacancy, coupled with curtailed tax benefits, have led to reduced office property values since the late 1980s. Yet assertions that office real estate values fell between the mid-1980s and mid-1990s are not supported everywhere by convincing...