Did you know that if you live near a Starbucks there’s a good chance the value of your house is increasing by the day?
According to Zillow, there is indeed a correlation between having a Starbucks in your neighborhood and rising home values. In a recently released study, Zillow found that properties near Starbucks locations also appreciate at a faster rate than U.S. housing overall.
Zillow used the following example – a home located near a Starbucks that sold for $137,000 in 1997 would have increased in value to $269,000 in 2014. This is compared to a home not near a Starbucks that sold for $102,000 in 1997 and appreciated 65 percent to $168,000 in 2014. That’s pretty amazing, right?
Added Zillow, the value of your home may even come down to a few feet in relation to Starbucks. It further compared the appreciation of homes a quarter-mile and those between a quarter- and a half-mile from a Starbucks. The homes closest to Starbucks appreciated more than 21 percent over five years while those a bit further away appreciated a little less than 17 percent.
Of course, we clearly understand that the above information should not be the only criteria utilized when shopping for a home. But, it is certainly interesting just the same. Who knew a popular coffee brand could have such a wide-ranging influence on our economy?
Founded in 2009 during one of the slowest real estate markets in the past half century, First International Title has grown from a handful of offices to over 30 offices throughout the state, from Key West to Pensacola, including its company headquarters in Coral Springs. We provide closing services in English, Spanish, German and French. With a combined 1,000 years of experience, our staff has extensive experience closing residential, refinance, reverse mortgage, short sale, REO, deed-in-lieu and commercial transactions. We do not outsource or offshore any portion of our core title services. We employ our own searchers and examiners to ensure quick turn times and accuracy. At First International Title, we put our customers first.
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