Re/max Innovative Properties
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Major corporations can change nearly everything about their surrounding areas and their effect on residential real estate can be truly substantial. The concentration of wealth in areas like Silicon Valley and Seattle has influenced even the most basic properties, causing otherwise unremarkable homes to be worth over a million dollars based on their location alone. We'll look at the patterns of residential real estate from the past and the predictions of the future.
Much like the stock market, there's a flurry of activity in the real estate market when anticipation is in the air. Just the announcements that Amazon's HQ2 would be in Long Island City caused a major influx in properties both in and around the area. But the long-term effects for real estate aren't quite as extreme.
Once Amazon switched their allegiance to Arlington, the value of the Long Island City cooled back down to its original levels. Even in the D.C. area, the effects have been moderate. After a year, Arlington saw some increases in value for homes near the future campus, but its mid-2030s arrival is causing some degree of hesitation for owners and developers.
The areas that see a steady climb are typically those that bring in a stream of businesses. These cities and towns attract diverse populations who contribute their talents and create a personality that others want to be a part of. Los Angeles made headlines for becoming its own haven for tech talent, creating the so-called Silicon Beach that spans through Santa Monica, Hermosa and Venice.
Google, YouTube, Snap, Inc. and Hulu are just a few corporations with offices in Silicon Beach. With San Francisco pricing even successful companies out of the market, the demand for luxury real estate in the LA area has increased due to the influx of well-paid engineers, developers and leaders.
A single industry, such as oil or tech, can quickly raise the average salary to epic proportions. In Gillette, WY, a city dominated by fossil fuels, the average cost of a home increased from $236,978 to $272,100 over the course of just 7 years. So while Arlington may not have seen the immediate jump they were looking for, it may only be a matter of time.
You can see prices being pushed up all over the country due to corporate investment. From Boston to Miami, it starts with the areas directly surrounding the area of the business before being pushed out to the suburbs and beyond.
With over 18 years of experience, Jessica is licensed New Hampshire and Massachusetts. A proud member of the National Association of Realtors, Jessica values the highest code of ethics and standards expected of her. As a seller’s agent, she uses the most current market information to properly value the property. In addition, with her experience she is able to assist sellers on the best ways to improve homes so they can solicit the highest offers. Jessica works with a cutting edge marketing & social networking firm to obtain the maximum exposure for all of her listings. Known for her negotiating skills, she has a passion for working with buyers providing knowledge of what to expect & peace of mind throughout the process. In addition to what Jessica provides as a buyers agent, she works closely with a team of experts so it’s a “one stop shop” for all her buyers. In addition to her real estate career, Jessica is also a licensed loan originator in N.H. Combined with her expertise in both real estate, mortgages and finance, Jessica has a full understanding on the home buying and selling process. In today's real estate market it is so important for sellers and buyers to work with an agent who has great skill set and experience.
