Location, Location, Location.....and Walkability

We all know that location is key to achieving the best possible price for a property. But only recently have we really begun focusing in on the "walkability" of the area in which the property resides. This is good news for DC, including Georgetown. We've always been walkers here, but it's good to know that others are noticing this amenity. Nancy Keates in the WSJ says, "The increasing interest among Americans in walkability is spawning a change in attitude about the desirability of not only urban areas, but also suburbs — both old and new — that have nearby amenities that can be reached on foot.

Having amenities within walking distance can boost the value of a home as much as $3,000, according to one study. Another found that “location efficiency,” a measure of transportation costs, affected the number of foreclosures in a neighborhood. "

Source: The Wall Street Journal, Nancy Keates (07/02/2010)

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