(Sacramento Bee) Zillow chief economist Stan Humphries has this advice for homebuyers: Watch where Starbucks opens and buy a house close to one of the ubiquitous coffee shops.
The reason, he said, is that homes within a quarter mile of a Starbucks tend to rise in value faster than homes outside a quarter-mile radius. Humphries, head analyst for the online real estate tracker, calls it the "Starbucks effect."
There are dozens of Starbucks in the four-county Sacramento region. The values of houses a short distance from one of the coffee giant's stores increased 9 percentage points more than other homes over the last two decades, Zillow reported. Other cities, such as Boston, saw even bigger home price gains from the Starbucks effect.
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