Home values go up near trail access
May 20, 2013
For those who doubt the increased the value of homes near horse riding trail access, I would like to refer them to a study named “New Research Finds that Homeowners and City Planners Should ‘Hit the Trail’ When Considering Property Values” (http://uc.edu/news/NR.aspx?id=14300). This research found that housing prices went up for every foot closer to the trail entrance. Ultimately, the study concluded that for the average homeowners were willing to pay a $9,000 premium to be located 1,000 feet closer to the trail. The researchers say their study is among the first to quantify the impact of multipurpose trail proximity on residential property values while isolating the results from the biasing effect of nearby property values.
With regard to the Lake of the Pines trail being private, may I reference a number of public trails in the area that enjoyed access from residential properties: Western States Trail, Hidden Falls, Meadow Vista Sugar Pines Trail, which is adjacent to prestigious Winchester Country Club, American River Parkway, Folsom Lake Trails, Empire Mine State Park in Grass Valley and Pioneer Trail in Nevada City, just to name a few.
Laura Berman, real estate broker