Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Living near these 2 stores boosts a home’s value

06/19/2017

Download PDF

Organic food does your body good, but according to Zillow, it’ll do your home some good as well. As of 2016, 2.8 million homes are located near one of 375 Whole Foods locations or 451 Trader Joe’s locations, and those homes have appreciated at double the rate of homes in other areas.

From 1997 to 2014, the median U.S. home originally worth $103,000 had appreciated 71 percent to $177,000. Meanwhile, a median home near Whole Foods originally worth $157,000 appreciated a whopping 140 percent to $376,000; and a median home near Trader Joe’s appreciated 148 percent to $407,000 during the same time.

Although this trend could be credited to the fact that these retailers usually open their stores in high income areas, Zillow researchers showed that’s not necessarily the case.

They found that before a Whole Foods or Trader Joe’s opened, homes appreciated at the same pace of comparable homes across the city. After the store opened, homes in close proximity began appreciating at a faster rate.

“Whole Foods and Trader Joe’s are not simply piggybacking off already hot neighborhoods,” wrote Zillow data analyst Jamie Anderson of the study.

“Rather, it appears both chains are either incredibly smart about finding neighborhoods on the verge of gentrifying, or the opening of either location positively impacts home values.”

Whole Foods and Trader Joe’s aren’t the only retail chains that are bolstering home values.

A previous Zillow study revealed that homes located near Starbucks bolstered home values as well.

While the presence of a Starbucks doesn’t shift the pendulum too much in the coffee giant’s home turf of Seattle (16 percent), it can make quite the difference in other major markets. For example, the median value of homes located near a Starbucks in Boston appreciated 171 percent over a 16-year period compared to 126 percent for other homes during the same time.

Email Marian McPherson.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Opendoor takes aim at Florida, posts jobs in Orlando and Tampa

    Opendoor, an “iBuyer” that makes quick offers on homes and can close in days, is gearin...

  • Daily market update: July 21, 2017

    We’ll add more market news briefs throughout the day. Check back to read the latest. Most rece...

  • Feast your eyes on the 7 most beautiful luxury listings in the world

    In June, HGTV teamed up with Leading Real Estate Companies of the World and Luxury Portfolio Intern...

  • The week in industry hires and promotions: July 17-21, 2017

    Who got hired or promoted this week? Here’s our weekly rundown. From last week: Lizete Alves N...

  • Real estate market recap, July 17-21, 2017

    Check Inman every day for the daily version of this market roundup. Day-by-day market activity: Frid...

  • The week in real estate industry deals: July 17-21, 2017

    While real estate agents chase leads and close deals on houses, there’s another level of deal-...

  • Should real estate agents host FSBO open houses?

    Selling privately can be tempting for entrepreneurial sellers who believe it takes little effort to ...

  • Agents can now add HouseLens video walkthroughs to Zillow listings

    Real estate agents now have another way to highlight their listings on Zillow using 2017’s fav...

  • How bad could the appraiser shortage get, and what are the solutions?

    If you slept through all of 2016, then you might have missed the news that there weren’t enoug...

  • SmartZip launches new service to connect agents with ready sellers

    In an inventory-starved, raging-hot seller’s market, finding homesellers who are ready to pull...

July 2017
Mon Tue Wed Thu Fri Sat Sun
« Jun    
 12
3456789
10111213141516
17181920212223
24252627282930
31  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...