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What Factors Influence
The Price Of A Home?
Yes, it's location, location, location.
W hile curb appeal, structural
integrity and a brand new set
of appliances can impact a
home's value, there is one factor that seems
to reign supreme.
"Homeownership is one of the most
solid long-term investments one can make,
but it's important to recognize just how
much the location of a home can impact
the value," says Budge Huskey, president
and chief executive officer of Coldwell
Banker Real Estate.
The new Coldwell Banker Home Listing
Report, a highly extensive home price
comparison tool, analyzes the listing price
of more than 81,000 four-bedroom, two-
bathroom homes in more than 2,700 mar-
kets throughout the United States.
The report found some startling facts:
the national average listing price of a
four-bedroom, two-bathroom home is
$302,632, but all of the top 100 affordable
markets in the country have an average
listing price under $135,000. Meanwhile,
all of the top 25 most expensive markets
are $1 million or more. The price differ-
ence between the most expensive commu-
nity in California and the most affordable
in Ohio is $2.2 million.
So what accounts for this major value
discrepancy in similar-sized homes? Here
are several ways in which "where" matters
most.
LOCAL INDUSTRY
Job opportunities available in a given sec-
tor can have a huge impact on the market.
For example, the continued tech sector
growth in Silicon Valley is one of the fac-
tors making it one of those most expensive
communities in the country.
REVITALIZATION
Over time, revitalization efforts can make
certain communities more attractive to
buyers. When a city or region sees an
Melanie S. Bishop
"SOLD" IS MY MIDDLE NAME
www.MelanieSold.com
BLOOMFIELD HILLS
economic and cultural renaissance, this
influences the market. Buyers value related
factors like safety, a walkable main street,
public transit options and green spaces.
imity to natural beauty like beaches and
mountains for outdoor activities like ski-
ing and surfing, and commuting outlook.
For more details about the report, or to
see how your area stacks up, visit hlr.
coldwellbanker.com.
Buying or selling a home is a very emo-
tional process. Whether you're listing your
home or thinking of moving, take location
into consideration. Doing so can help you
determine your lifestyle priorities and
place an appropriate value on a particular
property. *
SCHOOLS
You may not have children, but it's still
important to investigate the quality of
local schools. This factor can have a major
impact on every homeowner.
REGION
Regional factors can have a huge effect
on a given locality's pricing. These can
include year-round weather patterns, prox-
Courtesy of StatePoint
Over $44 Million Sold in 2014
4130 Telegraph Rd., Bloomfield Hills, Ml 48302
LA: BROOCK
X
REALTORS°
N
1 8 95
248-867-7800
MAX BROOCK BLOOMFIELD HILLS #1 AGENT
BLOOMFIELD HILLS
WEST BLOOMFIELD
UNPARELLELED IN DESIGN, FUNCTION LOCATION
EXQUISITE RANCH ON 1.38 ACRES
IMMACULATE & PROFESSIONALLY DECORATED
One of a kind & recently updated to perfection. Rare materials with onyx and stone
baths, hardwood floors. John Morgan kitchen open to family room. Nearly 5500
sq. ft, 6 bed, 4.2 baths plus huge walk-out LL. Master with terrace, breathtaking
water views, closet room & dream bath. Enjoy your own pool, spa room & exercise
area. Truly exceptional! $1,695,000
Walk to Cranbrook from this recently renovated home with award winning
kitchen, gleaming hardwood floors, imported Italian doors, stone bathrooms
& architectural ceiling details. Private Master with Euro shower, Whirlpool tub,
spacious walk-in closet & built-ins. Nearly 5,000 sq. ft, 4 bedroom suites, 5.2
baths plus finished lower level and 4 car garage. $1,225,000
Two story foyer, hardwood floors & newer carpet. Private study, sunlit white
kitchen with granite, butler & walk-in pantries. Family room open to kitchen
overlooking pool and backyard surrounded with mature greenery for privacy.
Gracious master with 2 walk-ins, tray ceiling & Euro bath. 3,887 sq. ft, 5 bed, 4.2
baths plus finished lower level. $650,000
Ask for Melanie 248-867-7800
Ask for Melanie 248-867-7800
WEST BLOOMFIELD
BLOOMFIELD HILLS
Ask for Melanie 248-867-7800
BLOOMFIELD HILLS
BLOOMFIELD HILLS SCHOOLS
SPECTACULAR RENOVATION
ENTERTAINERS DELIGHT
Fantastic renovation with new elevation, roof, siding, furnace, landscaping and
more... 2 story foyer leads to fresh paint, rich hardwood floors, newer windows,
gutters, a/c. White kitchen with granite, stone & stainless steel. 3,077 sq. ft, 4
bed, 2.2 baths plus freshly finished basement. Oversized master, new carpet in
bedrooms & beautiful bathrooms. $485,000
Just completed fabulous master suite. Gleaming hardwood floors, newer
kitchen with granite and stainless. Stone and granite baths, newer windows,
doors, & more. 2975 sq. ft, 4 bed, 2.2 baths plus finished LL. 2 fireplaces,
newer landscaping & circular drive. Too many features to mention, all on a
picturesque 1.24 acre with pond. Bloomfield Hills Schools. $450,000
Vacation in your beautiful country club like yard with sparkling pool. Open
ranch sunlit through large picture windows. Fabulous John Morgan kitchen
including all the bells & whistles. Hdwd floors, 3 FP, 3 car garage. Quiet master
retreat. 4 bedrooms, 3 full & 2 half baths, 2,777 sq. ft. plus finished walk-out on
over an acre with Birmingham schools. $450,000
Ask for Melanie 248-867-7800
Ask for Melanie 248-867-7800
Ask for Melanie 248-867-7800
2038590
30 November 19 2015