As with any list, the debate begins about which places don’t make the cut or get the attention that Chambers of Commerce across America love to see and promote. The Forbes Traveler list online has some scenic photos that only tell part of the story. A place can be beautiful, but that does not guarantee that luxury housing will hold its value there. Geography can influence a second home purchase far more. Human geography like jobs, health care, education and retirement.
An example would be the lovely 90210 ZIP code in Southern California, where not much has changed to make luxury home values rise since that 2008 BusinessWeek story by expert real estate writer Prashant Gopal. Not even a hit TV show can boost prices for a ZIP code these days.
It should be expected that, with video-enabled buyers and sellers, the way we find our ideal places to live, relocate or get a second home could be forever changed. Instead of lists, more and more Americans are going to be doing what Coldwell Banker “On Location” is doing with some of its research to motivate buyer interest based on life’s changes. College towns were a recent focus of the peppy video productions the firm has been posting and sharing on the Web.
So, who is it we trust anymore, when it comes to making a real estate investment that will be good for our lives and for our wallets? The best bet is to open those avenues of research, from news reports to social media and cross-examine the common wisdom. Oh, and remember that beauty is often in the eye of the beholder. We welcome comments about your favorite places right here.
