Multiple Regression Analysis: A Valuable Tool for Mass-Land Appraisals

Action filed by American Indians against the US in 1951, contesting the price paid by homesteading settlers for land taken from them, led to the need for an estimate of the fair market value of the Fort Peck Indian Reservation in eastern Montana as of August 1, 1916, the median date of entry. All va...

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Bibliographic Details
Published in:The Appraisal journal 1983-04, Vol.51 (2), p.213-217
Main Authors: Woolford, William A, Cassin, Steven G
Format: Article
Language:English
Subjects:
Case studies
Land
Mass
Multiple regression
Real estate appraisal
Regression analysis
Online Access:Get full text
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Summary:Action filed by American Indians against the US in 1951, contesting the price paid by homesteading settlers for land taken from them, led to the need for an estimate of the fair market value of the Fort Peck Indian Reservation in eastern Montana as of August 1, 1916, the median date of entry. All valuations were based on the analysis of comparable sales data from 1915 to 1917 recorded in the county clerks' offices. Differentiations between subject and comparable land were based on census data, assessment information, research data on the physical attributes of the subject land and comparable sales, and economic, social, and climatological forces. Factors considered to influence the value of land sold in the area during 1916 are, in rough order of importance: 1. tillable area of land, 2. sale date, 3. improvements on the property, 4. extent of cultivation, and 5. distance from town.
ISSN:0003-7087