While a little lighthearted I found this article to bring up an interesting point. What exactly indicates a ‘good’ location?
When showing properties in a client’s price point I show them in order of most attractive (tree-lined, quiet, based on personal needs) to perhaps not considered the most attractive (close to utilities or freeway, directly under airports, etc.) so they have an understanding of everything in their range. However in the bay area real estate in general is “good”. Home prices have been higher and locations more sought-after than almost any other region in the US since data began being collected half a century ago. The investment has proved sound if not staggering despite the usual market ups and downs. So we realtors should never act as arbiters of what is “good” and what is not.
Once again the notion that the bay area’s real estate “game” is played a little differently than any other in the country.
Courtesy of BusinessInsider.com/lenpenzo.com
When playing Monopoly, the conventional wisdom is that the best property to own is Boardwalk because it commands the highest rent.
However, savvy players know the most valuable property is actually Illinois Avenue. How can that be?
Well, one of the biggest reasons is that Illinois Avenue’s board position — two “seven” rolls from Jail — gives it the distinction of being the game’s most-landed on property; Boardwalk is ranked fourteenth.
The bottom line: When buying real estate, the three most important factors are always location, location and location — regardless of whether you’re paying for it with Monopoly money or real cash.