RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

What's Behind the Gates? Higher-Priced Homes

July 12, 2016 1:06 am


Homeowners behind gates can expect an average $30,000 more for their home come sale—a premium, however, that can be offset by costly community amenities, according to research from the American Real Estate Society (ARES). The premium is due to actual and perceived benefits, such as privacy and safety, on the part of the buyer.

“This [research] provides clear evidence that homes in gated communities sell at a premium relative to comparable homes in non-gated communities,” said ARES Publication Director Ken Johnson in a release. Johnson is a real estate economist at Florida Atlantic University's College of Business.

The premium may be less in gated communities where amenities like a clubhouse, pool or tennis court drive up maintenance costs for residents, ARES researchers found. Examining a sample of gated communities, researchers discovered a $19,500 decrease in sale price in communities with these types of amenities.

“Additional maintenance costs associated with these amenities often outweigh their benefits, and it appears that while a gate has value, additional neighborhood amenities do not always provide additional value,” explained Mark A. Sunderman, one of the ARES researchers.

“From the perspective of both the buyer and the seller, this information should help each to better price property,” Sunderman continued. “A good understanding of what adds value and what does not should help create increased marketability of gated homes.”

“The long-held belief that gates add value is supported by the data, as long as the impact of the amenities is properly factored in,” Johnson added. "This should set buyers' minds to rest as to whether or not they are actually receiving a boost in value when they purchase inside a gated community.” 

Source: Florida Atlantic University (FAU)
 

Published with permission from RISMedia.


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Vacationers: Protect Your Dream Trip with Travel Insurance

July 11, 2016 1:03 am


Vacation…it’s all we ever wanted!

Nearly $90 billion will be spent on vacations this summer, with the average trip—defined as a one-week leisure excursion at least 100 miles from home—costing travelers $1,798.

Time off is worth every penny—according to the Allianz Travel Insurance Vacation Confidence Index, many individuals not only believe a vacation is important, but also feel confident that they can afford one. Most vacationers, the Index found, are allocating their budgets for one memorable getaway, rather than spreading the spend over several trips.

The Index revealed a “Vacation Deficit,” as well—the percentage of individuals who believe a vacation is important but do not feel confident they’ll be able to take one. The Deficit is slightly up this year compared to last.

Those spending more on one dream vacation this summer should consider budgeting for travel insurance, says Daniel Durazo, director of communications at Allianz Global Assistance USA.

“With vacation spending up, travel insurance should be near the top of the trip planning checklist,” Durazo said in a statement. “The right travel insurance policy will protect a consumer's pre-paid travel expenses when they have to cancel their trip due to certain unexpected situations, such as a covered illness or injury, and will provide reimbursements for things like medical emergencies, delayed travel and lost or delayed baggage.”

Source: Allianz Global Assistance USA
 

Published with permission from RISMedia.


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