| The analysis and projection of residential property values has been studied for decades. However, when it comes to spatial variables involved, much emphasis has been put on certain negative or positive externalities. For example, research has looked at the adverse effect of environmental pollutants, flood zone status, high voltage transmission lines, and toxic waste disposal sites on nearby residential property. Similarly, many studies have investigated examples of positive neighborhood externalities on residential property values. These include studies on the relative impacts of various sizes of shopping centers, world-class water bodies, school district quality, and proximity to transit stations, among others. Nonetheless, not much emphasis has been put on the residential development attributes as a unit of analysis and an important domain within the urban landscape.; This paper investigates the impact of certain residential development elements on the value of single-family homes (SFH) within the City of College Station's urban setting. Elements such as gatedness, level of amenity, and proximity to city park were investigated. In addition, the potential of employing a hybrid geoinformatic-hedonic analytical approach in value analysis is demonstrated by this study.; The geoinformatic-hedonic approach integrates traditional regression techniques used in value analysis, namely the hedonic price function, with geoinformatic technology. Automated spatial analysis tools offered efficient and accurate data generation, validation, manipulation, and assessment. Furthermore, the condition of spatial autocorrelation encountered with the data was visually represented using residual mapping techniques.; Findings indicate that the power of the hybrid geoinformatic-hedonic model in analyzing, explaining, and presenting change in real estate value is significant. Furthermore, empirical results indicate that certain residential development elements such as gatedness and level of amenities of a community are strongly correlated to home value in such a community. Most significantly, this study shows evidence indicating that the impact of gatedness on SFH value is significantly higher than the level of amenities. |
