Cities that 'Walk the Walk'

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When the organization CEOs for Cities analyzed ZipRealty data from 94,000 real estate transactions in 15 major markets, it found that in 13 of the 15 markets, higher levels of "walkability" boosted home values by $4,000 to $34,000 compared with homes with just average levels of "walkability."

by Broderick Perkins
© 2010 DeadlineNews.Com



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Deadline Newsroom - A study, "Walking the Walk: How Walkability Raises Housing Values in U.S. Cities," suggests adding "walkability" to the "location, location, location" mantra chanted by real estate agents describing well-kept neighborhoods with good schools and low crime.

When the organization CEOs for Cities analyzed ZipRealty data from 94,000 real estate transactions in 15 major markets, it found that in 13 of the 15 markets, higher levels of "walkability" boosted home values by $4,000 to $34,000 compared with homes with just average levels of "walkability."

"These findings are significant for policymakers," said Carol Coletta, president and CEO of CEOs for Cities.

"They tell us that if urban leaders are intentional about developing and redeveloping their cities to make them more walkable, it will not only enhance the local tax base but will also contribute to individual wealth by increasing the value of what is, for most people, their biggest asset," she added.

Get the full story here: Report: High 'Walkability' Rating Boosts Home Values

Also see: Driving can be hazardous to your home ownership

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© 2010 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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