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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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.