i recently purchased a home in rialto, CA and one of the closest freeway onramp is about a 15 minute drive. in about a year and a half, the freeway will be extended and the drive will be about 5 min. the freeway won't pose any sound disturbances, but will definitely be more convenient. the city i live in is pretty far from a large city. this is my first home and i plan to live here for as long as possible, but i do hope that the value of my home will appreciate, because recently, the value has been dropping...alot. i still have equity, but am a little scared. because i want to refinance in 1-2 years.
2006-08-16 13:38:14 · 4 answers · asked by life beyond yur wildest dreams 2 in Business & Finance ➔ Renting & Real Estate
With the information you gave me the answer is yes. Your property is probably already increasing in value or the city or state paying for the freeway would not have extended it. They plan on seeing a return on their tax dollars spent. Odds are companies are already planning on locating there.
2006-08-16 13:50:43 · answer #1 · answered by stevemorbitzer 2 · 0⤊ 0⤋
Hmm. My inlaws are in Fontana. Cutting the drive to get to a freeway from 15 minutes to 5 will usually have the effect of increasing the number of people potentially interested, and therefore, raising the price. Provided, of course, you're not so close as to get traffic noise from it. Whether this will be enough to turn overall downward value trend back upwards, nobody knows. I think price trends all over Southern California will be on the upswing very soon.
2006-08-16 21:12:42 · answer #2 · answered by Searchlight Crusade 5 · 1⤊ 0⤋
Decrease
2006-08-16 21:02:53 · answer #3 · answered by eugene65ca 6 · 0⤊ 1⤋
Most likely raise the value, Because this will bring more people and more people more business.
2006-08-16 21:05:14 · answer #4 · answered by sweettoni37 4 · 1⤊ 0⤋