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Wow. At eight minutes and a straight shot to Whole Foods and six minutes and a straight shot to Trader Joe's (assuming TJ's is really locating on Forest Drive), I'm more excited about my property value than I am about the shopping.
The effect seems pretty spurious. I'm more inclined to think that WF is just adept at locating in areas already on the upswing. Still, I'd rather have a Whole Foods than not have one.
I think in the Columbia context... WF is validating what most who live in Columbia already know.. That there is a market for WF in Columbia and that the Downtown, Shandon, Forest Acres, SE Columbia spine probably contains the most wealthy "urbanites" in the Metro.
Now if WF moves to North Columbia and replaces Bi-Lo on Main and Monticello 'downtown' Eau Claire.. THEN I can see the gentrification or re-development model that parallels the Detroit example taking place
The area where Whole Foods is locating is already upscale and one of the wealthiest areas in the state so I don't know about a huge impact on real estate values. You never know, though.
One is the economic growth Columbia is seeing. More white collar jobs and more disposable income. Less dependent on just USC and Fort Jackson.
Secondly is where they located. They are saying that the general area they choose is where the expansion and the disposable income is. The growth is along the I77 corridor from I26 to Blythewood and beyond.
Hopefully many will follow like Costco, Trader Joes, etc.
In regards to real estate, the number of homes selling is up ytd. Prices will always lag - they did coming down and they will going back up. It was 2 years after sold houses dropped that price finally came down. I think we'll see prices start to rise slowly as early as next year, but 2 years is more likely. Another thing to watch if you're considering a move is interest rates. If they start to rise it can be more significant than a slight rise or fall in prices.
Short version- it's a good time for move up and first time buyers.
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