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Article: Negative and positive impacts of golf course proximity on home prices.
- Article from:
- Appraisal Journal
- Article date:
- October 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 The Appraisal Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Golfing is a major recreational activity and growing business enterprise in the United States. According to the U.S. Bureau of the Census (1992), the number of golfers increased by 147% from 1970 to 1990 with rounds played increasing by 89% (266,169 in 1970, and 502,000 in 1990). The number of golf courses has increased as well. The total number of golf courses - private, municipal, and public daily fee - increased by 25%, from 10,188 to 12,846. The number of daily fee courses, the most prevalent, rose from 4,248 in 1970 to 6,024 in 1990, an increase of 42%.
The number of neighborhoods designed to benefit from proximity to the course are also on the rise. An ...