That whole 'location location location' saying finally clicked for me

I was dead set on a fixer-upper in a cheaper part of town for months, then my agent showed me the comps on a tiny house near the new light rail stop in Denver. It appraised for 15% more than the ask just because of that stop. Has anyone else been surprised by what a transit line actually does to value?

2 comments

2 Comments

stellas5625d ago

Give it some time before you get too excited. Those transit premiums can be real in the short term but they depend a lot on the city and if the line actually delivers on ridership. My buddy bought near a new streetcar in Phoenix thinking he was set and the thing underperformed big time. That 15% bump might hold up or it could settle back down once the novelty wears off.

kim_smith25d ago

Wait and watch the ridership numbers before you count your money. Even a solid line can take a couple years to really settle in and prove itself.