Faculty analyze sales of homes located near sex offenders
A research paper that examined how the location of homes near registered sex offenders affects sales attracted widespread news coverage and attention from academic and professional organizations.
“Estimating the Effect of Crime Risk on Property Values and Time on Market: Evidence from Megan’s Law in Virginia” was the work of three faculty in the College of Business and Economics: Dr. Ray Brastow, professor of economics; Dr. Bennie Waller, associate professor of finance and real estate and chair of the Department of Accounting, Economics, Finance and Real Estate; and Dr. Scott Wentland, assistant professor of economics.
Based on an analysis of more than 20,000 real estate listings in central Virginia between 1999 and 2009, the paper appeared on the Social Science Research Network website and was presented at a national conference of the American Real Estate and Urban Economics Association. Coverage of the professors’ research included stories in the Washington Examiner and the Richmond Times-Dispatch, and on WSET-TV in Lynchburg.