David Barr (Berkshire Hathaway HomeServices Florida Realty)

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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

I would argue that the stores chose those areas as more valuable... instead of the other way around.   If you pay attention, Trader Joes and Whole Foods do not locate in the lower income or undesireable areas.     Location, location, location.

Jan 26, 2016 01:16 AM
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Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I think it's total bs. i've never heard of an appraiser saying, oh darn, I forgot to add $20,000.00 to the value because there's a Trader Joe's or Whole Foods down the street.

Jan 26, 2016 12:54 AM
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Marie Haydock
Evergreen Global Homes & Land | RSVP Real Estate - Redmond, WA
Simplifying Real Estate

Zillow's new thing is to claim authority on all real estate related data and to have come up with some myth-busting analyses.  Tney even wrote a book about it for themselves.  

 

But, as a scientist by training, I have to shake my head.  So often in the media you see bits of information used to draw some dramatic conclusions.  It's incomplete research, posing as complete.  Tragedy.

Jan 26, 2016 12:16 AM
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David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

David,

That comes from their book, Rewriting the Rules of Real Estate.

The question is whether there is really a cause / effect relationship.

And Whole Foods and Trader Joe’s have done their homework on an area before they go in.

 

Interesting but I’m not sure it is worth the hype it gets every time they trot this “fact” out in the media.

Jan 26, 2016 02:38 AM
Rainer
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Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

I love Trader Joe and miss the store.  Buy a home based on their location.  NO

Jan 26, 2016 12:37 AM
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Zillow is so full of B.S.  They are trying everything to get people to them...If Professionals would stay away rorm them people would come directly to us

Jan 26, 2016 06:26 AM
Rainmaker
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Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Saw the interview with the Zillow CEO. And this guy is an expert? He was just trying to get free PR and sell his book!

Jan 26, 2016 05:16 AM
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

David Barr This sure gives them more credibility. Who are they kidding?

Jan 26, 2016 04:47 AM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
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Hogwash!  If I happen to catch stupid press I will blog about it. I'm not a big user or fan of Twitter.

Jan 26, 2016 02:06 AM
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Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

It all has to do how one interpret s the data. I see it as Trader Joes and Whole Foods moving into the neighborhoods that can sustain their high prices and residents who seek out organic and healthy eating habits.

But when did Z become an authority on data stats?

Jan 26, 2016 12:59 AM
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Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I say that zillow doesn't have a license at stake so they can claim something like that without risk.

Jan 26, 2016 12:40 AM
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Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

David - I thought I heard the same thing about Starbucks last year. I feel the same way Carol Williams feels. It's the other way around.

Jan 28, 2016 02:42 PM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I was surprised by the news! Not sure it has any merit!

Jan 26, 2016 08:24 PM
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Really? I think that's ridiculous.

Jan 26, 2016 05:43 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

For years they have been saying Starbucks makes properties worth more. I do think they do improve value in the buyer's mind.

Jan 26, 2016 01:33 PM
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I ignore most press releases unless it pertains to my area. I think I would have to travel for at least five hours to find either of the stores you mentioned. 

Jan 26, 2016 11:08 AM
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

They probably just made $200k paid by those 2 companies 

Jan 26, 2016 07:47 AM
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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

It's an argument of correlation VS causation.  That said, Trader Joes & Whole Foods are considered higher end, so they'd build in an area considered higher end, and then people see Whole Foods and assume the area is high end, so it continues to be.  Building a Trader Joes in an undesirable area where the streets resemble war zones would not change the area...but Trader Joes would never set up shop in that area....it's correlation, nothing more, but the media needs SOMETHING to write about.

Jan 26, 2016 07:12 AM
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I personally did not notice that, since not everyone can afford to shop at the mentioned stores. But of course being closer( not right next to it, since a terrible traffic and noise) to a shopping center, a good school does make  a house more desirable.

Jan 26, 2016 04:36 AM
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I've seen this reported from other sources before.  I have no opinion on this.

Jan 26, 2016 04:19 AM
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Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

David Barr that doesn't seem to be a stupid post.  It seems to indicate the type of location Whole Foods and Trader Joes chooses.  It's like they screen locations for buyers looking for a qaulity location.  We have both in Santa Clarita, California.  One in Valencia and one is in Saugus, Ca.

Jan 26, 2016 03:38 AM
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Raymond E. Camp
Ontario, NY

If it was next or near Trader Joe's here it would be average priced as to traffic and all the other near by stores. The general area here would be higher priced but more because of the schools.

Jan 26, 2016 02:55 AM
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Their site requirements will necessarily place them in areas where median incomes, and housing values are higher than US/regional average. So it's a chicken/egg Q. Both want hipster, 'every dime of disposable income goes to cool factor stuff' customer base. I know this for fact. Have been submitting sites to them for years. They say we are too rural. They mean we are too redneck. ;)
Henderson is 90 mi, oh well.

Jan 26, 2016 02:02 AM
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

No, I wouldn't reblog this type of press release, since I don't believe the information provided.  Homes are not worth more because they are near a Whole Foods/Trader Joes. I do believe though that both have some yummy foodstuff.

Jan 26, 2016 01:42 AM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

This article came out a couple months back on RIS media (NAR's press engine).  They compared the value of homes within a distance of TJ's vs. Whole Foods to see which chain provided more value.  I had a several hundred word blog about it on my site, I think it included pictures too.

 

I live smack dab in the middle of five TJ's and about 1 mile from a whole foods.  I found the story cute fluffy stuff.  Out here, the nearest TJs is an often asked question.

Jan 26, 2016 12:50 AM
Rainer
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LUXURYSOCALREALTY COMPASS La Jolla
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

I'm guilty of using whole foods myself when I'm selling on an area to buyers.

Jan 26, 2016 12:39 AM
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Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Sorry didn't see this tweet.  Since neither store is located within 100 miles of Erie I guess it doesn't affect my market.  Have a good day.

Jan 26, 2016 12:31 AM
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Roy Kelley
Retired - Gaithersburg, MD

That is old news. Many of us know for a fact that home buyers prefer the convenence of Trader Joe's and Whole Foods. My wife shops at those stores on a regular basis.

Jan 25, 2016 11:54 PM
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

David,

That was old news they repurposed that was originally written by one of the real estate magazine.  I remember that Roy Kelley posted that bit of news at least 3 months ago.  A

Jan 25, 2016 11:48 PM