My New Blog

A HOME IS MORE THAN A HOUSE! (Part 1)

A home is more than a home. It’s a place in a community, determining everything from the quality of your kids’ education to length of your daily commute. Not only does a neighborhood shape your lifestyle, it impacts your finances, too.

Given the well-known real estate mantra “Location, Location, Location” it’s not surprising that a host of neighborhood amenities, like crime rates or proximity to shopping, have been shown to influence home prices.

But some surprising factors, like a jump in gas prices ($3.50 a gallon), have been linked with dropping values in far-flung locales. Location can even impact owners’ ability to pay the mortgage. Residents with higher transportation costs are more likely to fall into foreclosure.

And, a neighborhood desirability trends to be so linked with the school’s district it’s attached to that childless buyers who worry about how well a home value is likely to hold up should pay attention to school ratings. It looks like sought –after school districts help insulate homes from steep price declines.

My job as your Realtor is too put this knowledge and more on your side.