BNSF Railway’s Massive Cleanup of Released Oil in Skykomish, Washington

Skykomish is a small town with about 200 residents in the Mount Baker-Snoqualmie National Forest in the northeastern corner of King County, Washington. For much of its history, Skykomish was a maintenance and fueling station for the Great Northern Railway, which eventually became part of what is now known […]

Contingent Valuation and Real Estate Damage Estimation

Real estate appraisal practice stresses three traditional approaches (cost, sales comparison, and income) to value contaminated properties. This paper discusses a fourth approach: the contingent valuation method (CVM). This method is useful in the estimation of losses for contaminated properties when market data are not available or market failure […]

Valuing Brownfields

The appraisal adds significantly to the overall brownfield evaluation and potential adaptive reuse in numerous ways. The appraisal can and should be viewed as a decision-making tool to optimize financial decisions regarding brownfields. This chapter illustrates key elements of the appraisal analysis, thus highlighting important impacts on brownfield redevelopment […]

Application of Repeat Sales Analysis to Determine the Impact of a Contamination Event

Prior studies of environmental contamination examine the cross-sectional impacts, either through a sales-comparison-type model or hedonic pricing. Neither model is robust at analyzing the impact of an event, such as a contamination announcement. Longer term longitudinal studies may not control for exogenous impacts, such as changes in house quality. […]