HOME     SITEMAP     RSS     TWITTER     EMAIL    
Search:   

FollowSteph Follow Steph as he posts Blog Blazer Friday
 

Location, Location, Location

Everyone has heard the cliche that the three most important factors in buying a property are “location, location, and location“. Just how important is location in determining the price of property? It’s very important. I came accross a study this week done by Coldwell Banker which compared the prices of properties. The study surveyed prices of similar homes in 324 real-estate markets for a similar 2,200 square foot, four-bedroom, two-and-a-half bath, two-car garage house. The difference between the most expensive and the cheapest was very large! The biggest gap was between La Jolla, California, and Killeen, Texas. You could either own 1 of these properties in La Jolla, California, or 14 identical ones in Killeen, Texas! And with even with the 14 properties in Killeen, Texas, you’d still have $36k left over!

Why such a big difference? Because of the desirability of the locations. La Jolla is a beautiful city California perched on the Pacific Ocean with lots of coastal properties, it has year round beautiful weather, lots of amenities, and so on. In contrast, Killeen is a city built around an army base in the middle of the prairies with much harsher weather. Should the discrepency be so large? That’s a debatle subject, however the reality is that it is.

Most Expensive Markets
Market Price
La Jolla, CA $1,875,000
Santa Monica, CA $1,766,666
Beverly Hills, CA $1,656,500
Santa Barbara, CA $1,603,750
Palo Alto, CA $1,550,000
Newport Beach, CA $1,499,000
San Mateo, CA $1,334,425
San Francisco, CA $1,300,000
San Jose, CA $1,272,625
Greenwich, CT $1,267,500
Least Expensive Markets
Market Price
Killeen, TX $131,328
Minot, ND $133,266
Beckley, WV $137,875
Arlington, TX $139,510
Billings, MT $142,500
Tulsa, OK $142,600
Parkersburg, WV $146,000
Fort Worth, TX $148,610
Yankton, SD $149,521
Grayling/Roscommon, MH $149,600


 
Like this article?

No comments yet. Be the first.

Write a reply:





 
FollowSteph RSS
FOLLOWSTEPH'S
RSS FEED!


SOFTWARE AND BOOKS BY STEPHANE GRENIER:

LandlordMax Property Management Software

LandlordMax is the EASIEST
Property Management
Software available!
Try it for free!

Real Estate Pigeon

Real Estate Pigeon
The place to ask and answer
all your real estate questions

Blog Blazers: 40 Top Bloggers Share Their Secrets to Creating a High-Profile, High-Traffic, and High-Profit Blog!

Blog Blazers is a book that
features secrets from the
Top 40 Bloggers on the web

How to Generate Traffic to Your Website ebook

How to Generate Traffic to
Your Website
is an ebook for
to you achieve success


 

FollowSteph
More resources from Stephane Grenier:
PUBLICATIONS
For people who work on the web
Blog Blazers
How to Generate Traffic to Your Website
 
SOFTWARE
The EASIEST Property Management Software available!
LandlordMax


Copyright @2003-2013
LandlordMax Property Management Software

Disclaimer: This is a personal blog about my thoughts, experiences and ideas. The contents of this blog are for informational purposes only. No content should be construed as financial, business, personal, or any other type of advice. Commenters, advertisers and linked sites are entirely responsible for their own content and do not represent the views of myself. All decisions involve risks and results are not guaranteed. Always do your own research, due diligence, and consult your own professional advisors before making any decision. This blog (including myself) assumes no liability with regard to results based on use of information from this blog. If this blog contains any errors, misrepresentations, or omissions, please contact me or leave a comment to have the content corrected.