Monday, 06 April 2020

Grocery Stores Have The Goods (For Real Estate)

Written by Posted On Tuesday, 20 August 2019 04:32

While it is no surprise that homeowners want to maximize the value of their property, it might come as an eye-opener that proximity to certain grocery stores can substantially improve the value of real estate.

Surprising Statistics

According to a recent study from ATTOM Data Solutions, major grocery store chains like Trader Joe’s, Whole Foods, and ALDI, were found to increase home prices. In fact, across the country, the average home value near Trader Joe’s is $608,305, compared to $521,142 near Whole Foods and $222,809 near ALDI. The average home seller return on investment over a five-year span with these grocery stores was 37%, with homes near a Trader Joe’s having an average home seller ROI of 51%, compared to homes near a Whole Foods with an average home seller ROI of 41% and ALDI at 34%.

home value average

Why It Matters

The findings are compelling because homebuyers, whether they are solely looking to invest in real estate or simply seeking to raise a family, may count on their purchase paying off by just living near certain grocery store chains as those chains seem to provide a quality return on investment and secure higher home equity. For an investor, real estate near certain grocery store chains contributes to strong home flipping returns and attractive home price appreciation. In short, proximity to certain grocery stores can substantially improve the values of residential property nearby, particularly if the stores offer high quality service and products.

Historically, residential home buyers sought properties nearby schools that they wished for their children to attend.  In terms of increasing home values, it almost seems as though purchasing  real estate near certain grocery chains may have the same importance or may have usurped purchasing near desirable schools.

Moving Forward

Among the core tenants of real estate is location … location … location! After all, residential real estate purchasers who choose the “best” locations will have an asset that appreciates more than the norm.  With that in mind, whether you are an investor looking for more bang for your buck or a homebuyer looking to purchase residential real estate near conveniences such as grocery chains, look for a well-branded chain like Trader Joe’s, Whole Foods, or ALDI as those grocery chains seem to have a significant statistical positive effect on property values.

From the Trenches,

Roy Oppenheim

Oppenheim Law | Real Estate Attorneys
2500 Weston Rd, Suite 404
Fort Lauderdale, FL 33331
954-384-6114
https://www.oppenheimlaw.com/ 
Originally posted on South Florida Law Blog: Grocery Stores Have The Goods (For Real Estate) https://southfloridalawblog.com/grocery-stores-have-the-goods-for-real-estate/

Tags: ALDITrader Joe'sWhole Foods

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Roy Oppenheim

From Wall Street to Main Street, Roy Oppenheim is a successful serial entrepreneur and attorney focusing on Florida real estate, foreclosure defense, loss mitigation and Internet ventures.

 

He founded Oppenheim Law in 1989 with his wife Ellen Pilelsky and uniquely positioned the Firm as one of Florida’s leading boutique law firms in Weston, Florida.

 

Serving national, international, and local clients, Mr. Oppenheim has the highest rating (A-V) conferred by Martindale Hubbell Law Directory, the most respected directory of lawyers and law firms in the U.S.

 

In 1989, Mr. Oppenheim also co-founded and served as general counsel to ShopSmart Corp., the company that originated and owned the GNC Gold Card Program, a program that continues to this day and was one of the first cross-promotional programs of its kind.

 

In addition, in 1994, he co-founded Weston Title & Escrow, the oldest title company in Weston, Florida, and he currently serves as its Vice President. In 1999, Mr. Oppenheim served a one-year term on the board of directors for Catalina Lighting, a publicly traded company on the New York Stock Exchange.

 

Growing up in the Bronx, Mr. Oppenheim learned to be focused on success and driven to always persevere for opportunity.

 

In 2009, he started the South Florida Law Blog, which was voted the best business and technology blog by the South Florida Sun-Sentinel. He also serves as an expert witness on title industry practices.

 

Mr. Oppenheim has also authored two law review articles with Jacquelyn Trask; namely, Deconstructing The Black Magic of Securitized Trusts, published in the Stetson University Law Review’s Spring 2012 Edition, and The Emperor’s New Clothes, published in the William & Mary Business Law Review Volume 6.

 

Today, Mr. Oppenheim is a sought-after legal expert on issues relating to the real estate crisis and beyond. In addition to his own blog, he also has been a contributor to Yahoo! Homes, and featured on HuffPost Live, FOX News, and Lifetime TV. In addition he has been quoted in prominent national publications, including USA Today, The New York Times and Huffington Post, among others. Mr. Oppenheim also understands the power of social media, and can be found on a variety of social media platforms.

 

Mr. Oppenheim also speaks fluent German.

 

Admissions

 

  • Florida Bar, 1987; Member of the Real Property Probate and Trust Law Section
  • New York Bar, 1987; United States District for the Southern and Eastern Districts of New York, 1987
  • U.S. District Court, Southern and Middle Districts of Florida, 1993

 

Education

 

  • Princeton University, A.B., cum laude, 1982
  • Northwestern University School of Law, J.D., 1986
    • Member of the Northwestern University Law Review
    • Member of the National Moot Court Team

Original source:  https://www.oppenheimlaw.com/who-we-are/meet-our-team/roy-d-oppenheim-esq/ 

https://www.oppenheimlaw.com
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