FireDream

High Gas Prices and Their Silver Lining in Real Estate

Do high gas prices have a silver lining for folks selling their homes?

They certainly can, according to a recent AP article in MSNBC’s online real estate section.  Homes in urban centers and those located near commuter options such as subways and light rail systems are seeing more traffic (pardon the pun) as people evaluate the impact of fuel costs when they’re looking for a new home.

The story includes a survey conducted by Coldwell Banker Real Estate, LLC, which shows that homebuyers are becoming more interested in urban living because they want to reduce their commutes to and from work and because they are concerned about high fuel costs.  Of those surveyed, 75 percent indicated that they would also like to have the ability to walk to more places.

I was pleased to see that the article mentioned some of the changes that we’re seeing here in the Dallas area.  Interest and investment into urban, mixed-use developments is climbing.  For some who work downtown, lofts or condominiums that are close to their office, shopping, theaters and other amenities are likely to be popular choices, opening up the opportunity for a new housing boom.

For folks who love working in the Big D but want a more suburban setting, don’t worry.  Our DART (Dallas Area Rapid Transit) system is doubling in size-a fact mentioned in the MSNBC posting.

What is it they say about a door closing and a window opening?  It looks like those who are selling their downtown dwelling are seeing a lot of windows opening right now.

 This blog is intended for informational/entertainment purposes only and is not meant to provide any financial or legal advice.