Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Study Feasibility topic
No spam. Unsubscribe anytime.
Advisory members say credible paired‑sales study is doable but costly; committee lacks funds
Summary
Members estimated a thorough hedonic/pairwise resale analysis would take time and could cost roughly $50,000–$100,000; the advisory panel said it lacks authority and funds to commission that work and will instead ask the cities or consultants to pursue it.
Committee members described the data work required for a credible paired-sales hedonic study: assembling assessor records and MLS transaction histories, defining comparable control neighborhoods, and manually pairing second-sale transactions to isolate noise effects. One member estimated, based on prior experience, that such an effort could cost on the order of $50,000–$100,000.
“This is not something we have the means to hire a consultant for,” a committee member said, and the group concluded the advisory committee should instead highlight the methodological gap to the city and request that the city’s consultant or its legal review consider a more sensitive hedonic approach. Members suggested volunteers could gather preliminary information, but emphasized that a rigorous analysis requires paid analyst time and access to proprietary MLS pairing where necessary.
