Venues Versus Value discusses the relationship between the distance of different types of food venues and the surronding real estate value and sales volume. When driving down many streets (MLS area 83-1: Arlington Texas) it is evident that there is an eclectic array of food venues, and residential subdivisions. Does the presence of food venues add or subtract from the property value and sales volume inside thier supporting subdivisions?
Food Venues offer convenience and entertainment; their presence has an effect on the residential property that surrounds it. This paper shall initially propose that the distance between food venues is directly related to the value and sales volume of the aforesaid. The greater the distance: the greater the value, and the greater the sales volume. It is important to understand the relationship between specific commercial activities that serve the community for purposes of zoning, planning, and investing.
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1 comment:
Might need to talk about this a little. You state the greater the distance, the greater the value, the great the volume so I am not sure what your hypothesis will be.
Convenient access to shopping could have a significant impact, but this could be tricky to isolate in residential sale prices. I did have a study study the impact of a Wal-Mart on residential property values. He found a relationship, similar to some of the 'parks' studies where you don't want to be located too close to a Wall-Mart but a Wall-Mart at a convenient distance was a positive. Let's talk about this next week.
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