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Does transportation impact current home prices

Original post made by Hal Bailey, CDSI, another community, on Jan 10, 2008

Dear Neighbors,

Today, via HSVT (HSBC), a Reuters report discussed the impact of transportation access on the value of homes in the current USAmerican markets. Homes far from job centers without significant rapid transit access are suffering the largest downturn in home prices. Homes in the near suburbs and cities are holding value.

AS we approach $4 per gallon of gas this Spring, Transportation will become as important as schools to home buyers according to Reuters. I would suggest that this forum would be an appropriate place to post commentary, information and study referrals on transportation and home values.

Best wishes,

Hal Bailey, CDSI Research Fellowship, halbailey@yahoo.com

Distribution to All things Alamo & Pop(u)lar e-chain

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Posted by Hal Bailey
a resident of another community
on Jan 10, 2008 at 4:26 pm

SECOND REFERENCE:

In researching various transportation studies in Contra Costa County and comparing the availability of convenient, rapid transportation, our CDSI researchers determined that housing pricing in the corridor beyond the end of BART in East County is reflecting price pressures due to the cost of individual transportation. It was discovered that several focus studies were conducted in the past 15 months to determine how commuters relate cost of transportation to jobs into their cost of housing. Interviewing the focus study firms, the interviewers noted that a home buyer in Brentwood Region expects his monthly transportation costs to equal his property taxes at >$700 per month.

BART rail extension would reduce that cost to less that half, thus a very convenient transfer bus to the station is additional value for any home. To prove that point even further, Walnut Creek upscale condos continue to attract buyers based on the convenience of BART nearby complimented by exceptional lifestyle in the community.

Convenient, rapid transportation has not come to Walnut Creek to Dublin corridor but focus studies illustrate express bus routes remapped to potential ridership, including park and ride, will increase ridership in the corridor by three times within 21 months. New lateral express routes that feed eastern neighborhoods of the corridor are considered the greatest growth potential.

With that consideration, neighbors, where would you want convenient, rapid transportation and to what destinations?

Hal Bailey, CDSI Research Fellowship, halbailey@yahoo.com


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