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Wednesday, March 11, 2015

The 'Starbucks effect': Higher home prices

Great tip when searching for your next investment home - according to a new report from real estate research group Zillow, the value of homes within a quarter-mile of a Starbucks rise faster than those that aren't. Whether you drink coffee or not, investing in real estate near a Starbucks has its benefits!

Just look at the numbers... Between 1997 and 2013, homes closer to Starbucks coffee shops increased in value by 96% as compared to 65% for all U.S. homes. The "Starbucks effect" may sound silly, but when your home value increases by an additional 30+ percentage points, factoring Starbucks locations into your home-buying decision may be financially beneficial.

The idea works for both sides - not only do Starbucks locations notify developers that a neighborhood is on the rise, but the popular coffee chain is also exceptional at finding such up-and-coming neighborhood locations.

Shawn & Kyle Cunningham
Cunningham Group at RE/MAX Advantage
(702) 823-0855 Shawn
(702) 823-0840 Kyle

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