Exterior Insulation and Finish Systems: The Effect on Residential Housing Prices and Marketing Time

Ken H. Johnson (), Sean Patrick Salter, Leonard V. Zumpano () and Randy I. Anderson ()
Additional contact information
Ken H. Johnson: Florida Atlantic University, Boca Raton, FL
Leonard V. Zumpano: University of Alabama, Tuscaloosa, AL
Randy I. Anderson: Prudential Real Estate Investors, Parsippany, NJ

Journal of Real Estate Research, 2001, vol. 22, issue 3, pages 289-312

Abstract: Recently the use of artificial stucco (formally known as Exterior Insulation and Finish Systems, or EIFS) on residential real estate properties has been a topic of much debate. In this paper, we outline the issues surrounding EIFS use. Subsequently, we develop and test hypotheses regarding the impact of EIFS on property value and marketing time. The results indicate that the market is not discounting EIFS clad homes, but that the presence of EIFS significantly extends a property's marketing time. These findings are consistent with our theoretical framework and are compatible with inefficient local real estate markets.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol22n03/03.289_312.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:jre:issued:v:22:n:3:2001:p:289-312

Ordering information: This journal article can be ordered from
Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
http://aux.zicklin.b ... u/jrer/about/get.htm

Access Statistics for this article

Journal of Real Estate Research is edited by Dr. Ko Wang

More articles in Journal of Real Estate Research from American Real Estate Society
Address: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Series data maintained by JRER Graduate Assistant/Webmaster ().