Velma Zahirovic-Herbert

College of Family and Consumer Sciences

Financial Planning, Housing and Consumer Economics

Associate Professor

129 UGA Griffin Campus
1109 Experiment Street
Griffin, GA 30223


workOffice Phone: 770-233-5501

Fax: 770-467-6092


Degree Field of Study Institution Graduation
Ph.D. Economics Georgia State University 2007
M.A. Economics Georgia State University 2006
B.A. Economics Agnes Scott College 2000
B.A. Mathematics Agnes Scott College 2000


My research interests include urban land use, housing and real estate markets, as well as issues related to school quality, and the economics of poverty. Specifically, my research falls under three themes: (a) research on real property (housing) valuation and the marketing process for houses; (b) the impact of changes in house prices on household economic behaviors, including studies of the reasons for the gap in homeownership rates between immigrants and other groups, the determinants of the time to first homeownership, housing uncertainties and formation of time preferences, and; (c) research on school quality that includes local government finance, school performance, and a focus on understanding which of the factors that affect school quality also affect house prices. Housing and school quality are at the forefront of the concerns of urban and other communities. Understanding these areas is a key to effective policy, development, and marketing. My research has been published in journals including Real Estate Economics, Journal of Housing Economics, Journal of Real Estate Finance and Economics, Journal of Real Estate Research, Southern Economic Journal, Journal of Housing and the Built Environment, Urban Studies, Financial Decisions, and Urban Education among others. My continuing research extends into international transitional economy issues and includes study of affordable housing and financial behaviors of Bosnian households. My involvement in developing housing economics programs in the international arena has resulted in my selection to the Fulbright Specialist Program and a visit to the Faculty of Economics from the Dzemal Bijedic University of Mostar, Bosnia and Herzegovina.


Family Economic Behavior, Housing in Contemporary Society, Consumer Decision Making, Housing Policy

Areas of Expertise

housing economics


Award Name Awarded By Year Awarded
Sarah Moss Fellowship Center for Teaching and Learning at the University of Georgia 2015
Best paper award in the Senior Housing category American Real Estate Society 2015
FACS College Advisor of the Year Award FACS College 2011
Selection to Fulbright Specialist Program, Mostar, Bosnia and Herzegovina Council for International Exchange of Scholars 2011


Gibler, K., Zahirovic-Herbert, V., & Chatterjee, S. (forthcoming) Financial literacy, risky mortgages, and delinquency. International Journal of Housing Markets and Analysis.

Smith, Patrick S., Gibler M.K., & Zahirovic-Herbert V. (forthcoming) The Effect of relisting on house Selling Price. Journal of Real Estate Finance and Economics.

Tyvimaa T., Gibler K &. Zahirovic-Herbert, V. (2015) The effect of ground leases on house prices in Finland. Journal of Housing and the Built Environment. 30 (3), 451-470.

Zhou X. , Gibler K. &. Zahirovic-Herbert, V. (2015) Asymmetric buyer information influence on price in a homogenous housing market. Urban Studies. 52(5), 891-905.

Zahirovic-Herbert, V., & Gibler, K. (2014) The Effect of New Residential Construction on Housing Prices. Journal of Housing Economics. 26(1), 1-18.

Zahirovic-Herbert, V. & Gibler, K. (2014) Historic district influence on house prices and marketing duration. Journal of Real Estate Finance and Economics. 48(1), 112-131.

Turnbull, G.K., Zahirovic-Herbert, V., & Mothorpe, C. (2013). Flooding and liquidity on the bayou: The capitalization of flood risk into house value and ease-of-sale. Real Estate Economics. 41(1), 103-129.

Wada, R., & Zahirovic-Herbert, V. (2013). Demand for school quality and the distribution of housing price. Journal of Housing Research. 22(1), 17-31.

Chatterjee, S., & Zahirovic-Herbert, V. (2012). A road to assimilation: Immigrants and financial markets. Journal of Economics and Finance.1-14.

Turnbull, G.K., & V. Zahirovic-Herbert. (2012). The transitory and legacy effects of the rental externality on house price and liquidity. Journal of Real Estate Finance and Economics, 44(3), 275-297.

Zahirovic-Herbert, V., & Chatterjee, S. (2012). Historic preservation and residential property values: Evidence from quantile regression. Urban Studies, 49(2), 369-382.

Turnbull, G.K., & V. Zahirovic-Herbert. (2011). Why do vacant houses sell for less: Bargaining power, holding cost or stigma? Real Estate Economics, 39(1), 19-43. 

Jordan, J., Anil, B., & Zahirovic-Herbert, V. (2011). Housing uncertainty and childhood impatience. Urban Education, 46(5), 1169-1187.

Zahirovic-Herbert, V., & Chatterjee, S. (2011). What is the value of a name? Conspicuous consumption and house prices.  Journal of Real Estate Research, 33(1), 105-125.

Zahirovic-Herbert, V., & Turnbull, G.K. (2009). Public school reform, expectations and capitalization: What signals quality to homebuyers? Southern Economic Journal, 75(4), 1094-1113.