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.

  • The 8 mistakes to avoid when designing a virtual home tour

    Now more than ever, virtual home tours are an invaluable asset for agents looking to educate and ins...

  • Real Grader helps keep agents’ online reputation on track

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • ClosingLock aims to lock down wire fraud

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 3 priorities buyers place alongside location

    The past year has brought unparalleled attention to luxury properties in suburban and vacation marke...

  • CoreLogic launches consumer search with OneHome

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • What you need to know about 2020’s accelerated luxury market

    It’s safe to say that this year has not been the one we expected. In March, it was anybody’s gue...

  • Up your social media look with Feed Appeal

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • From video to VR: why VR home tours are a must-have

    This has been a year of challenges and transformation for all industries, and the luxury real estate...

  • ReferMe IQ uses old business to earn you new business

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • How urban buyers are creating space and redefining how they live

    We’ve all experienced the shift this year: luxury buyers opting for spacious homes in the suburbs ...

December 2020
Mon Tue Wed Thu Fri Sat Sun
 123456
78910111213
14151617181920
21222324252627
28293031  

  • 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 ...