{"id":1052,"date":"2007-02-18T09:55:20","date_gmt":"2007-02-18T16:55:20","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1052"},"modified":"2007-02-18T09:59:18","modified_gmt":"2007-02-18T16:59:18","slug":"ask-the-broker-what-makes-property-values-rise","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1052\/ask-the-broker-what-makes-property-values-rise\/","title":{"rendered":"Ask the Broker: What makes property values rise?"},"content":{"rendered":"

This is a Phoenix-local question in its original form, but I intend to answer it from a broader perspective.<\/p>\n

What is the forecast for home prices along the light rail route once the route is completed? Boundaries: 7th Ave to 7th St. and Camelback to Thomas.<\/p><\/blockquote>\n

The most important thing to understand about the forthcoming Trolley in Phoenix is that it’s built on the wrong route. This was deliberate. The greatest concentrations of bus passengers in Phoenix are in Sunnyslope and in South Phoenix, at either end of Central Avenue.<\/p>\n

To the right is a Valley Metro map that I have amended. The correct route for the Trolley is shown in bright red, right down Central Avenue. This would move the greatest attainable number of passengers, both from the current Number Zero bus route and from all the transfers from the east\/west routes along Central Avenue.<\/p>\n

But the purpose of the Trolley is not to move passengers but to move the sympathies of voters, so Valley Metro deliberately picked a route that will serve far fewer passengers but will appease various politically-powerful factions (most especially the millionaires living on Central Avenue between Camelback Road and the Arizona Canal to the north).<\/p>\n

But the question before us is: What is the real estate investment value of the Trolley?<\/p>\n

The answer? Essentially none.<\/p>\n

In the map, the darkest green stripe runs from Camelback south to Washington, from 3rd Avenue to 3rd Street. This region is zoned for high-rise development, subject to Historic Preservation rules and freelance NIMBYism. If any land is likely to be affected by the Trolley, it is this land. But: The people who will make money trading this land will be very experienced land brokers. The people who will lose money trading this land will be punters who think they are getting over on very experienced land brokers.<\/p>\n

The middle green band is the land from the Arizona Canal to Washington, from 7th Avenue to 7th Street. This land is ripe, with or without the Trolley. Buy and live, buy and hold, flips, especially tastefully-done historic flips, tear-downs, rezoning for higher-density — there is no limit. People want Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is a Phoenix-local question in its original form, but I intend to answer it from a broader perspective. What is the forecast for home prices along the light rail route once the route is completed? Boundaries: 7th Ave to 7th St. and Camelback to Thomas. The most important thing to understand about the forthcoming […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,6,5],"tags":[],"class_list":{"0":"post-1052","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-investment","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6336,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6336\/a-trolley-comes-to-phoenix-tendency-in-reporting-and-why-it-matters\/","url_meta":{"origin":1052,"position":0},"title":"A trolley comes to Phoenix: Tendency in reporting and why it matters","author":"Greg Swann","date":"December 29, 2008","format":false,"excerpt":"So it's almost five days since I dropped the dime on the bribe gifts being thrust upon the contributors to AG. Has anyone publicly renounced them so far? We got to see Jay Thompson issue some tepid caveats about the gift products -- from our pages, not AG's. And we\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/56\/an-open-letter-to-the-citizens-of-phoenix-why-i-oppose-the-bonds\/","url_meta":{"origin":1052,"position":1},"title":"An open letter to the Citizens of Phoenix: Why I oppose the bonds","author":"Odysseus","date":"February 26, 2006","format":false,"excerpt":"If you drive through my neighborhood of North Central Phoenix, you'll see plenty of little signs entreating you to support the seven proposed bond issues to be put to a vote in the March 14 election. But if you drive through other neighborhoods of the city, you'll see few if\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4\/notrailing-at-light-rail\/","url_meta":{"origin":1052,"position":2},"title":"(not)Railing at light rail…","author":"Odysseus","date":"November 10, 2005","format":false,"excerpt":"The Arizona Republic blows warm, wet kisses at the light rail system currently (and essentially perpetually) under construction in Central Phoenix. It really doesn't do to gripe about this thing. It will happen, no matter how much it shouldn't. But the article itself is funny, presumably without intending to be.\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/47\/corporate-welfare-in-phoenix\/","url_meta":{"origin":1052,"position":3},"title":"Corporate welfare in Phoenix","author":"Odysseus","date":"January 25, 2006","format":false,"excerpt":"The Arizona Republic brings us another glowing puff piece on the beauty, the splendor, the wonder, the power and the glory of the forthcoming Trolley system:Funny thing about \"knowledge workers\": They don't like to drive. That's one of the reasons Thomas Gorny decided on a site along the future light-rail\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":803,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/803\/not-just-any-fools-heavy-on-the-light-rail-propaganda-please\/","url_meta":{"origin":1052,"position":4},"title":"Not just any fools: Heavy on the light rail propaganda, please . . .","author":"Greg Swann","date":"December 24, 2006","format":false,"excerpt":"Almost three years ago, The Goldwater Institute, a free-market think tank in Phoenix, published a devastating accounting of the light rail system now being built in Metropolitan Phoenix:[The Maricopa Association of Governments]'s public transit plans deserve close scrutiny. Use of urban public transportation systems has been in decline since the\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/21\/moondacity\/","url_meta":{"origin":1052,"position":5},"title":"Moondacity…","author":"Odysseus","date":"December 6, 2005","format":false,"excerpt":"Jon Talton is the Arizona's Republic's house Socialist. He hates just about everything associated with free enterprise, but he makes up for it by waxing rhapsodic over any stray government boondoggle. He is convinced that Phoenix will continue to go down the toilet by growing and prospering until it dares\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1052"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1052\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}