RALEIGH, N.C. (PRWEB) October 09, 2018
Valbridge Property Advisors, the largest independent commercial property valuation and advisory services firm in the United States, announced today the completion of a market study in Raleigh, North Carolina to determine the impact, if any, on residential property values as a result of the presence of a wireless communication tower. This independent market study was conducted by Valbridge Property Advisors at the request of T-Mobile.
Karl Finkelstein, Vice President of Marketing and Business Development for Valbridge Property Advisors, remarked, “Everyone always expects excellent cell phone reception and that connectivity requires an adequate cell phone infrastructure. We studied the impact cell towers have on property values, and our appraisals indicated there was an increase in home property values in a majority of the property values in neighborhoods with cell towers compared to property values in areas without cell towers.”
The study was conducted in five sub-areas including Springfield Gardens, North Ridge, River Ridge, Riverside, and Braefield. To prepare these sub-area studies, the center points of each sub-area’s primarily single-family residential areas or specific subdivisions were identified by latitude and longitude. Arm’s length single-family residential sales from the Q1 2015 through Q1 2018 were located and verified to assess the transactions.
In Raleigh, fourteen of 22 pairings indicated higher home prices within the 0.25-mile sphere of influence while eight of 22 indicated slightly decreased home prices. Overall, the average and median prices increased in four of the five sub-area and one sub-area indicated no measurable difference. No measurable difference is defined as a less than 1% difference; nominal difference is defined as 1-3%. The data indicates there is no negative impact on value for properties within the 0.25 mile sphere of influence.
To request a copy of the study findings, visit Valbridge.com.
ABOUT VALBRIDGE PROPERTY ADVISORS
Valbridge Property Advisors is the largest commercial property valuation and advisory services firm in the U.S., with more than 675 staff and 200 MAI-designated appraisers in over 70 office locations across the nation. Valbridge provides independent appraisal services consistent with the highest industry standards of practice. Each Valbridge office is led by an appraiser who holds the MAI designation of the Appraisal Institute. For more information about Valbridge Property Advisors, please visit https://www.valbridge.com.