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Lori Fleming, Real Estate Pro in 84405

Has the gas prices affected your buyers desire to live closer to their jobs. Making rural properties harder

Asked by Lori Fleming, 84405 Thu Jun 5, 2008

to sale?

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Answers

8
Yes. The trend began however long before the more recent extreme price increases. Beyond saying that this trend was a topic of discussion on one of the NPR programs a few weeks back, I cannot cite a source. I believe though that it was the Diane Rhem Show. The discussion revolved primarily around the Washington, DC metro area, but the guest commented that the trend was affecting other metro areas as well.
2 votes Thank Flag Link Sun Jun 8, 2008
J.R. your opinion on this really does not count - you work in the Hamptons, right? :-D
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Surely there must be other agents who work in resort areas! :)
Long Island is full of suburbs populated by people who work nearby or commute long distances. It would be next to impossible for many people to move closer to their jobs. I would have loved to live in the city when I worked there, but not in a shoebox, so I opted to commute. And there are countless folks who work in the Hamptons who could NEVER afford to live there.
1 vote Thank Flag Link Sun Jun 8, 2008
Lori...

Yes the gas prices and also the commute time is a large factor in the Bay Area. Families are just tired of commuting 1.5 to 2 hours to work and then having to do it again. A smaller home with less of a commute and the price of gas factor into the decision to purchase or sell those properties.
1 vote Thank Flag Link Sun Jun 8, 2008
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
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I guess I also have to answer this question - For us, the bigger concern is the commute time to the city or east bay if a person works there. Otherwise, gas has not been a giant issue, YET!.

People are more looking into buying more efficient car, appliances, ..etc, as a big picture, rather than concentrating on where to live due to gas price - To be fair, we are also talking about one of the places where housing price is higher than others and a place where people just really want to come and live and are willing to sacrifice other things. .

And Myke - Suburbs are still extremely desirable for a lot of people, all depends on what you need at a certain stage of your life. Where I am, you can enjoy everything S.F. can offer with 1/2 hour of drive (none traffic hours)

Sylvia
0 votes Thank Flag Link Sun Jun 8, 2008
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
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J.R. your opinion on this really does not count - you work in the Hamptons, right? :-D

My dream car is a Jaguar. My husband told me that's be a big mistake because they break down all the time and is very expensive to fix (o.k. as I said, it's a dream car from way before). I told him that if I could afford a Jaguar, I could afford the repairs.

Still a dream though and probably would never get that, just doesn't fit my personality.

So, for certain people, the gas price is not even considered.

Sylvia
0 votes Thank Flag Link Sun Jun 8, 2008
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
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My buyers are primarily from NYC looking at second homes. Although there seem to be less cars on the roads over the weekend, it must be the locals staying in, because my office is busy showing second home type properties, such as waterfronts. Most of these folks already live close to their NYC jobs, but the price of gas hasn't stopped them from shopping for a home and visiting our area.
0 votes Thank Flag Link Sun Jun 8, 2008
myke

Great answer! It is awesome that we can agree on something! I think you said it as well as it could have been said! Have a good one Myke!
0 votes Thank Flag Link Fri Jun 6, 2008
I can tell you my perspective as a buyer, and that of many of the people I know - is that the least desirable type of property right now is suburban areas.

I either want to be way out in some rural area where yes, i'm paying for the privelage - but I also get the benefits (use of land, privacy, quiet, etc) - or I want to be right in town where I can walk or ride my bike for most things I need.

Suburban properties offer the the worst comprimise. All the hassles but none of the benefits of rural or urban living.
0 votes Thank Flag Link Fri Jun 6, 2008
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