Call for Papers

Call for Papers – “Property Values and Environmental Factors”

Land Economics Foundation American and Real Estate Society

Submission of Papers No Later Than June 1, 2014

The American Real Estate Societyin a joint partnership with the Land Economics Foundation,announces a call for papers for the sixth volume of the Journal of Sustainable Real Estate (JOSRE).  The volume will focus on property values and environmental factors.  Some examples of negative environmental factors include leaking underground storage tanks, superfund sites, landfills, water and air pollution, power lines, pipeline ruptures, nuclear power plants, and animal feedlots.  Positive environmental factors include beach access, views, park area proximity and new housing construction.

Authors are encouraged to submit original research that can help investors, developers, appraisers, lenders, asset managers, elected government officials and land use regulators improve their strategies, decision-making and understanding of the impact of property values and environmental factors, and how these relate to sustainable real estate practices.  Topics and questions of interest include, but are not limited to, the following:

  • What are “environmental factors” as they pertain to property values?
  • How and what are the observable and unobservable value effects of environmental factors?
  • What is the scope of positive or negative environmental factors and their impact on property values?
  • How does stigma impact contaminated and adjacent property values before and after decontamination?
  • What is the effect of proximity to the source of environmental contamination?
  • How do prices change over time as a result of environmental factors?  What control variables should be included in a pricing model?  What can we learn from others outside North America? What can we learn from some of the global thought leaders about environmental factors and property values?
  • Nearly every major city and several U.S. states and Canadian provinces have codes for environmental factors for certain types or sizes of buildings.  How do these requirements compare and how do these regulations affect valuation?
  • What are the effects of subsidies, taxes or other incentives on the return on investment for properties whose incur additional costs to cope with environmental factors?
  • Are there additional financing costs for properties that are affected by environmental factors, and what is the effect of these on property value?
  • How do you value a building with features designed to address environmental factors?  Are benefits imbedded in rents and occupancy or expenses, or is there an impact on risk that should affect valuation and required returns? How do lenders view the costs and benefits of these features?
  • What are the implications of environmental factors for appraisers and the appraisal process?
  • Are there conflicts with state/province and local building codes and municipal subdivision and site conditions that make implementation difficult, as they relate to environmental factors?  To what extent do they affect valuation?
  • What is the impact of buildings designed for environmental factors on worker productivity and morale?  Can these be valued?  Do they or will they eventually translate into rent and property value?
  • What is the state of the art for controlling various types of contamination, what regulations impede or assist in this effort, and how do they affect valuation?
  • What are the new technologies and strategies affecting various types of contamination?  Are they cost effective and to what extent do they affect valuation?

Guest Editors for the Special Issue on “Property Values and Environmental Factors”:

Frank A. Clayton, Urban and Real Estate Economist, email frankclayton@bell.net

Daniel T. Winkler, University of North Carolina at Greensboro, email dt_winkler@uncg.edu

The Guest Editors would appreciate being informed by potential contributors of their intention to submit a paper.

Submissions: Submissions should be sent no later than June 1, 2014 to Myla Lorenzo Wilson, Managing Editor, Journal of Sustainable Real Estate, email mwilson@sandiego.edu .  Please copyFrank A. Clayton, Urban and Real Estate Economist, email frankclayton@bell.net, Daniel T. Winkler, University of North Carolina at Greensboro, email dt_winkler@uncg.edu, and Norm Miller, University of San Diego, email nmiller@sandiego.edu, on your submission.

The guidelines are as follows:

  1. All papers will be subject to anonymous double blind review by practicing professionals and academicians.
  2. Articles must be written to be understandable by institutional real estate investors; lengthy formulas and mathematics should appear in an appendix.  Applied empirical studies will be given preference.  Early submissions are greatly appreciated.
  3. Style guidelines are available at the following websites: the American Real Estate Society (www.aresnet.org), the Land Economics Foundation (www.lai-lef.org/) and at the Journal of Sustainable Real Estate (www.josre.org).
  4. Submissions are preferred in MS Word or PDF format.