Walkable Neighborhoods May Increase Your Home Value

For the last few years I have spent a fair amount of time complaining about the commercial development that is spreading around my neighborhood. I love the trees and always feel sad for all the deer, raccoons, squirrels and, yes, skunks who have to find new homes because their former homes were being cut down.

First there was the new department store, then the car dealership, then the pharmacy, the huge new shopping/entertainment center, the new grocery store and now a fast food restaurant. Each development meant that the trees got cut down and, unfortunately, that the skunks would be threatening to spray my beloved dog as they tried to move on to his turf.

As of this week, I will complain less because those same developments are now known to me as amenities which could increase the resale value of my home.

According to a recent study for CEOs for Cities, a national network of civic, business, academic and philanthropic leaders working to improve cities, homes located in more walkable neighborhoods – those with a mix of common daily shopping and social destinations within a short distance – command a price premium over otherwise similar homes in less walkable areas.

The group analyzed data from 94,000 real estate transactions in 15 major markets and found that in 13 of the 15 markets, neighborhoods that were more walkable had higher home values. According to the study, “Walking the Walk,” a mix of common daily shopping and social destinations within a short distance added from $4,000 to $34,000 to home values.

Not only does the idea of continuing to increase the value of my home appeal to me but, as the study so handily pointed out, it may also improve the quality of my life by getting me exercising more and socializing with the people in my neighborhood as I walk by. It will also be a great way to spend more time with my kids and an opportunity to set a great, more healthful example for them.

Of course, there could be a small issue with safety between my home and these locations. While there are sidewalks in some of the areas, there is also the issue of crossing some incredibly busy intersections. Here are a few tips that apply no matter where you live:

• Be a Pedestrian-friendly driver. Set an example for other drivers and slow down when you come across walkers.

• Face oncoming traffic. If you can’t walk on a sidewalk make sure you are walking in the direction of oncoming traffic.

• Dress to be seen. Make sure you wear reflective clothing or wear light-colored clothing.

• Work with your property owners association or city government to get new or better sidewalks built.

Last but not least, if you are walking in my neck of the woods I suggest you watch for those skunks. Sadly, they’re looking for a home.

To view the CEOS for Cities study, “Walking the Walk,” readers may visit http://www.ceosforcities.org/. For more information on your Arkansas Realtors® Association and how Arkansas Realtors® are working hard for Arkansans every day visit http://www.arkansasrealtors.com/.

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House to House is written by Amy Glover Bryant, APR and

distributed weekly by the Arkansas Realtors Association.

Go Green With A Realtor®

Did you know that there are almost 10,000 Arkansans licensed to sell real estate but only 7,200 are professional Realtors®? Each of those Realtors® must adhere to a Code of Ethics that not only commits them to putting their client’s needs ahead of their own at all times, it also commits them to being knowledgeable and competent in the fields of practice in which they engage. That means continuing education.

This September members of the Arkansas Realtors® Association will gather in Rogers, Arkansas, to learn from some of the top real estate professionals in the country. One of those speakers, Mark Given, will address one of the hottest topics in real estate – taking care of the environment – and how Arkansas Realtors® can help Arkansans take care of our planet while at the same time saving money.

Here are a few simple home tips Given recently shared with the Arkansas Realtors® Association for improving your “green-ness” while at the same time saving some money:

1. Switch your light bulbs to compact fluorescent lights (cfl). Studies show that they will save 25% to 35% of a typical light bulb electrical consumption. “While they are filled with gas and we don’t know their long term environmental impact, a standard light bulb has environmentally unsafe lead components,” says Given.

2. If you are building a new home, remodeling or replacing existing or worn-out appliances, consider purchasing Energy Star appliances. The savings can be significant as compared to older existing appliances.

3. Make sure your home has programmable thermostats. A typical home can save as much as 5% to 10% on their annual heating and cooling bill by making the switch.

4. Showers and baths account for 30% of indoor water use. Invest in attractive water efficient fixtures or replace your water heater with an instant unit.

5. Wrap your water heater in an insulated blanket. It can reduce standby heat losses by 25% to 45% and save you around 4% to 9% in water heating costs.

“We really don’t have to be politically correct when showing concern about what we are leaving for our children and grandchildren,” says Given. “Together we can make a difference.”

For more information on your Arkansas Realtors® Association and how Arkansas Realtors® are working hard for Arkansans every day visit http://www.arkansasrealtors.com/. For more tips from Mark Given on the benefits of “going green” visit http://www.markgiven.com/.

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House to House is written by Amy Glover Bryant, APR and

distributed weekly by the Arkansas Realtors Association.

Don’t Let Vacant Foreclosed Homes Drag You Down

Readers who have ever bought or sold a home know that a large percentage of home buyers decide whether or not to look inside a house or take it seriously based on its “curb appeal” – the view potential buyers have of your home when they drive by or arrive for a showing.

The same can be said for neighborhoods.

Would-be home buyers, appraisers and insurance companies associate the value and attractiveness of your home with both the perceived and actual value of the homes they pass on their way to your front door. Unfortunately, our country’s recent housing crisis has left a number of vacant foreclosed properties in our neighborhoods which can not only diminish the value of your home, they can also impact your area’s “neighborhood appeal.”

Vacant foreclosed homes sold at reduced prices not only steal from the resale value of the entire neighborhood, they also can increase the chances of arson and other crimes and be breeding grounds for rats, mosquitoes and other pests if not properly maintained.

However dire those thoughts may sound, there are some things you can do to try and diminish the potential impact vacant foreclosed homes may have on your neighborhood’s image:

1. Make sure your property owners association, law enforcement and city code officials are aware the house is vacant or not being maintained.

2. If the home is not being maintained, call the bank and ask them to repair broken windows, mow the grass and clean up any trash that may have piled up when your former neighbors abandoned the property.

3. Have neighbors take turns with the yard maintenance and clean-up associated with the vacant home. Pull weeds, mow the grass, clean the gutters, edge the walks or plant flowers. Then put all the trash in a can on the street in front of the vacant house to give it yet another “lived in” look. If you can, get written permission to keep the property clean from your former neighbors before they vacate or from the bank so as not to run afoul of trespass laws in your area.

4. Last but not least, activate or reactivate your neighborhood watch program to keep an eye on the property day and night. Report any suspicious activity you see at the vacant property to police - don’t investigate for yourself.

For more information and articles on how vacant, foreclosed homes can hurt you and ways you can fight back, contact the National Association of Realtors® at www.HouseLogic.com.

House to House is written by Amy Glover Bryant, APR and

distributed weekly by the Arkansas Realtors Association