How Much Does Safety Factor Into the Home Buying Process?

How Much Does Safety Factor Into the Home Buying Process?

A bit of a no brainer, but a recent study shows it can be more important than price to most home buyers.  John Burns Real Estate Consulting conducted a survey of almost 20,000 home buyers and had them rank key factors in making a decision to buy in order of importance.  Safety came in a close third only behind location and home design.  Price was ranked fourth.

As we all have seen the news and felt the changes in our communites, many cities/counties are cutting back on police and emergency responders to save money.  While personally, I think this is the LAST place to cut budget corners, reality says otherwise.  The study also showed a direct corellation between law enforcement cuts and rising crime rates.  Shocking, I know.  As a result of these crime rates increasing, the values of homes decreased.  The average consumer might not have the specific data of crime rates, but if you live in or around affected communities and pay attention, you just know. 

On the flip side, certain cities that increased their law enforcement then saw a drop in crime (violent & property) and thus home values increased.  So it is up to the Real Estate professionals as well as the individual consumer to do a little more research when searching for homes.  Especially in an area you might not be very familiar with.  Luckily in this day and age, many different statistics are available at our fingertips with the click of a mouse.  It behooves us to do our homework in finding the right place at the right price.

In 2010, I started a local neighborhood watch in the Library Square neighborhood of Sherman Oaks where I have family living and do a majority of my business.  Our group has grown to over 220 members of the 250 homes in Library Square.  Residents benefit from incident alerts letting them know when anything happens at a neighboring property, lost pet alerts, annual neighborhood watch meetings with the local law enforcement and summer block parties.  Our neighborhood watch group has really created a community vibe within Library Square and people feel a sense of safety in that they are getting to know their neighbors personally and everyone is looking out for each other.  We've also gained more recognition from the LAPD and are able to communicate concerns directly to our Senior Lead Officer who in turn looks out for us and sends extra patrol when necessary.  Sherman Oaks is already considered a higher priced community within the San Fernando Valley and we intend to keep home values up through our efforts to reduce crime.  I urge other Realtors and residents to start neighborhood watches in their communities.  Anyone interested in more detail as to how we started this program is welcome to contact me.

Website:  www.EmilyNewmark.com

Blog: emilyroseknowsrealestate.com