School Location and Consolidation Effect on Communities and Real Estate Values
Please Highlight the Links below - Right Click the Mouse and select - Go to the Link
1. Links provided to Long Range Planning Committee by Pat Cosentino
Improving Resale Value
http://www.ringsurf.com/online/2498-improving resale value.html
Schools Can Effect Home Values
http://blog.homes.com/2010/09/schools-can-effect-home-values/
What Affects Home Appraisals
http://www.ehow.com/info 7933528 affects-home-appraisals.html
How Does School District Consolidation Affect Property Values?
http://www.aefpweb.org/sites/default/files/webform/CAPV-AEFP-Final.pdf
Pros and Cons of School District Consolidation
http://www.k-state.edu/media/webzine/backtoschool/districtconsolidation.html
Educational Quality, Facilities and Real Estate Value
http://www.patriotroad.com/articles/detail/educational_quality_facilities_and_real_estate_value/
The Impact of School District Consolidation on Housing Prices http://cpr.maxwell.syr.edu/efap/Publications/lmpact of Consolidation.pdf
School District Consolidation: The Benefits and Costs http://www.aasa.org/SchoolAdministratorArticle.aspx?id=13218
The Impact of Schools on Property Values
http://freepdfhosting.com/5a5d1f6706.pdf
2. Further links regarding Schools, Real-Estate and Community found by Alan Brown
Rural School Consolidation Report
http://files.cfra.org/pdf/NRE-TaskForce-School-Consolidation-Report.pdf
Public Schools and Economic Development: What the Research Shows
http://www.mea.org/tef/pdf/public_schools_development.pdf
What Does a School Mean to a Community?
http://www.jrre.psu.edu/articles/v17,n3,p131-137,Lyson.pdf
Have all the costs of closing a school been considered?
http://www.oecd.org/edu/innovation-education/centreforeffectivelearningenvironmentscele/48358265.pdf
Helping Johnny Walk to School
http://www.preservationnation.org/information-center/saving-a-place/historic-schools/helping-johnny/helping-johnny-walk-to-school.pdf
Neighborhood and School Connection: Examining the Importance of Schools on Neighborhoods, Community Development, and the Housing Market
http://cardinalscholar.bsu.edu/bitstream/123456789/197232/1/DiamondC_2013-2_BODY.pdf
How Much Is a Neighborhood School Worth?
http://sites.duke.edu/niou/files/2011/06/BC_neighborhood-school.pdf
Economic Role of School Districts in Rural Communities
http://www.jrre.psu.edu/articles/v4,n3,p125-130,Sederberg.pdf
7 Neighborhood Threats to Your Home's Value,
http://realestate.msn.com/7-neighborhood-threats-to-your-homes-value
3. Excerpts from all of the sources listed above.
Improving Resale Value UNATTRIBUTED WEB ARTICLE
http://www.ringsurf.com/online/2498-improving resale value.html
“It is well-established fact that being in close proximity to an excellent school can boost the value of your property.”
“Call up the local school district and see if elementary aged children always attend the school closest to their home. “
Schools Can Effect Home Values BLOG ARTICLE
http://blog.homes.com/2010/09/schools-can-effect-home-values/
“A school known for good educational programs, great test scores, good sports programs etc. will attract buyers who will want their (current or future) child/ren to attend.”
What Affects Home Appraisals EHOW CONTRIBUTOR’S ARTICLE
http://www.ehow.com/info 7933528 affects-home-appraisals.html
Proximity to services, such as shopping, hospitals and schools, also play a part in a final appraisal value.
How Does School District Consolidation Affect Property Values? ACADEMIC RESEARCH
http://www.aefpweb.org/sites/default/files/webform/CAPV-AEFP-Final.pdf
We find that, on average, consolidation has a small negative impact on house values. However, this average impact reflects a downward trend in house values the years right after consolidation combined with a positive trend starting in the second year.
After about four and a half years, house values have returned to their pre-consolidation level and then continue to increase faster than house values in comparable districts. These results suggest it takes a while either for the advantages of consolidation to be apparent or for the people who prefer consolidated districts to actually move in. Finally, the impacts of consolidation on house values are more negative in high-income census tracts, where parents may have a relatively large willingness to pay for the access to teachers and other nonbudgetary advantages of small districts.
…
Recent articles by Brasington (2004) and Hu and Yinger (2008) explore the property value impact of consolidation. Property value impacts raise additional issues because they may reflect parental concerns that do not appear in school districts’ budgets, such as parental access to teachers or the time parents and students spend getting to school. Indeed, Brasington finds that once one controls for changes in student test scores and property tax rates, consolidation has a negative impact on property values.
First, since relatively few districts in New York consolidate, despite generous financial incentives from the state, districts that do consolidated are not likely to be typical even of small districts in the state.
The impact of consolidation over time is heavily influenced by tract income. … These results are consistent with the notion that high-income households continue to perceive the loss of access to teachers associated with consolidation and indeed become more concerned with this and related factors over time. But it is also consistent with the related notion that high-income people gradually leave consolidated districts—because of the loss of access and other factors—so that the demand for housing in high-income tracts, and thus the equilibrium price, gradually declines
