Morning Minute: Wal-Mart’s positive effect on home prices

A new study finds that having a Wal-Mart in your neighborhood can have a positive effect on nearby home prices, the Chicago Tribune reports. Researchers studied more than 1 million home sales between 1998 and 2008 near 159 Wal-Marts and compared the prices of homes located within four miles of a store that sold 2 1/2 years before or after a store opened.

It turns out, according to their recently published research, that values increase an average of 2 to 3 percent for homes within half a mile of a Wal-Mart store and 1 to 2 percent when the home is a half mile to 1 mile from a store, according to the article.

In other news:

Five things you should do if you are selling your home. (Chicago Tribune)

After years of downsizing, big homes are making a comeback. (Wall Street Journal)

The risks and rewards of buying a foreclosed property. (Chicago Tribune)

Rating your real estate agent. (Chicago Tribune)

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