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Residential Real Estate Market Value Higher for Good Schools

One of the key factors that contribute to the market value for residential real estate is the public schools.  In my experience the local public school can be an even larger contributor than style, age and size of the home.  I believe public school district falls into the category of location, because in the majority of the cases the school is location dependent.  Test scores, which translate into ranking, is the indicator that many people rely on to determine whether a school is considered good. According to the April 19, 2012 CNNMoney story, good schools can translate into an extra $200,000 in home value (http://economy.money.cnn.com/2012/04/19/living-near-good-schools-will-cost-an-extra-200k/).  There are several reasons cited:  higher percentage of home ownership; homes are larger; annual housing costs are higher on average. One of the sources many people cite for public school rankings is the U.S. News Best High Schools which was recently published on May 10, 2012: (http://www.usnews.com/education/best-high-schools/virginia). Northern Virginia is home to many of the top Virginia High Schools.  This is the market area where the Huckaby Briscoe Conroy Realty Group works with both buyers and sellers of real estate. The highest ranked Virginia school which is currently number 2 in the nation is Thomas Jefferson High School for Science and Technology, which is commonly referred to as “TJ”.  TJ is the only one of the nine top schools in Northern Virginia that is not location driven but rather the students test into the school.  Ranked second in Virginia is George Mason High School in Falls Church City.  The remaining 7 are in the Fairfax County Public Schools system:  George C. Marshall High School; McLean High School; James W. Robinson Jr. Secondary School; Langley High School; W.T. Woodson High School; James Madison High School and Oakton High School. A professional Realtors ® is the best source for understanding the factors that contribute to school ranking on local market value of real estate.  Karen Briscoe and Lizzy Conroy are active and experienced Realtors ® in the Northern Virginia, Washington DC market place and would be delighted to assist whether for home buying or selling. The Huckaby Briscoe Group was recognized in September 2011 as one of the Wall Street Journal Top Real Estate Teams in the United States.  Please contact via the means most convenient for you:  www.HBCRealtyGroup.com, 703-734-0192, Homes@HBCRealtyGroup.com.

Karen Briscoe is Principal of the Huckaby Briscoe Conroy Realty Group (HBC). The HBC Realty Group has been named to the Wall Street Journal Top Realtor® Team List. Over the years, the group has sold over 1,000 homes valued at over $1 billion...