Perk up home‘s price , Live near coffee shop【etc】
Perk up home‘s price : Live near coffee shop
http://www.msn.com/en-us/money/realestate/perk-up-your-home-price-live-near-a-coffee-shop/ar-AA93zv7
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Starbucks Effect:
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”
Coffee houses emerged early on as a big predictor of future home value.
Within a quarter mile, close enough to smell the coffee brewing,
that ring appreciates faster than rings further out,”
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How much faster? Over 17 years tabulated by Zillow, leading up to 2014,
homes adjacent to the local Starbucks almost doubled in value,
up by 96 % .
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Those further out appreciated by 65 % over the same period.
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apparently not all coffee shops are created equal.
Zillow researchers compared homes near Starbucks locations to those near
Dunkin Donuts.
Dunkin Donuts-adjacent properties also outperformed wider market,
rising 80 % over 17 years,
but they lagged those in the shadow of Starbucks.
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WHOLE FOODS EFFECT
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Nearby specialty grocers,
for instance, can lead to a 17.5 % home-price premium,
according to Portland,Or based real estate consultancy Johnson Economics.
That compares to a more modest 4.5 % for coffee-shop.
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In that sense
Starbucks-Effect may b more accurately b termed the Whole Foods Effect,
according to the firm’s principal, Jerry Johnson,
referring to the natural food supermarket’chain.
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Also significantly affecting nearby home prices,
according to the Johnson Economics study:
cinemas , wine shops , garden stores.
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Given Starbucks‘ massive resources, it is perhaps not surprising that
Seattle-based chain ^is adept @ spotting out promising spots.
After all,
the company employs entire teams o professionals
devoted to pinpointing optimal locations.
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Where we choose to locate our stores , is … as important as …
how we design them,”
says Michael Malanga, Starbucks’ senior vice president of store development.
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For potential homebuyers, it’s heading into exam w/ answer key.
Assuming
that significant market research has gone into every store opening,
buyers can piggyback on those positive conclusions.
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There are substantial resources spent by Starbucks headquarters
to figure this stuff out & find where t bestEST locations are going to b,”
says Zillow’s Humphries.
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So for homebuyers, you can essentially draft off the work
that Starbucks has already done for you.”
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