A survey of appraisers' opinions regarding the significance of characteristics and factors that exist in durable neighborhoods

This research, through the use of questionnaires that were returned by one hundred appraisers, has attempted to identify the most significant characteristics, paradigms and factors that exist in durable neighborhoods. A durable neighborhood, as initially defined for use in the questionnaire, was listed as a cohesive residential community at least 50 years old, usually identifiable by name with estimable boundaries, good marketability and whose resale values have kept pace or exceeded inflation relative to its local area. Initially 140 important neighborhood characteristics and eight paradigms were identified from previous research and uncovered in the process of completing the literature review. These 140 characteristics served as the basis for the questionnaire. To find key characteristics and concepts from the survey, analysis consisted of examining mean scores and performing factor analysis. After analyzing the results of the survey, eleven positive and five negative significant characteristics were identified, two paradigms stood out as being important, and seven factors were named. Based on the analysis, a durable neighborhood was defined and a conceptual model of a durable neighborhood was constructed.