When Good Things Happen to Bad Properties (Environment AND THE Appraiser) (Report‪)‬

Most studies of the effects of environmental contamination on property values have focused on the adverse consequences of contamination on the market value of the impacted properties. (1) For example, a recent book, When Bad Things Happen to Good Property, presents a litany of adverse consequences associated with the effects of contamination on real property and discusses these issues in the context of litigation claims for damages. (2) Another recent book, Real Estate Damages: Applied Economics and Detrimental Conditions, presents a series of case studies that catalog adverse effects of contamination and other detrimental conditions on property values. (3) What is largely missing from published studies is discussion of the recovery of market value as contaminated properties move through the remediation process, and environmental risk and stigma are reduced or eliminated. Environmental Stigma and the Remediation Lifecycle