Page 9 - Klahanie Apr-May WEB

The

Educ ion Effect

It is a fact that there is a positive neighborhood and repurchasing
correlation between the quality within the ‘new’ boundary. These C O MM U NI T Y
of public education in a local moves often correspond to buyer’s
community and its residential perception of ‘better’ schools. We test “pass rate” increased home
real estate values. From coast may experience this as the new values in a school district by
to coast buyers agree that elementary school is opened in the about 7 percent – even after
good schools create desirable Jacobs Creek area in the next year. considering other factors that can
neighborhoods resulting in sound According to the Federal Reserve have an impact on home values.
investments. Time and time again research
Bank of NY, ‘Buyers are willing to pay
Here in Klahanie, there is about 2.1 percent more for houses fi nds general confi rmation
no doubt that the quality of in districts with test scores that that communities with better
our school district is a key are 5 percent higher at the mean. schools are rewarded with higher
inducement for families to move Ranking in the top 5 school districts housing prices, that the premium
here. Often, buyers specifi cally statewide, the quality of both the commanded by good schools
identify the Issaquah School Issaquah School District and the can be quantifi ed, and that
District as critical to their Lake Washington School District ongoing investments in schools
neighborhood selection. continue to drive demand in our are returned to taxpayers faster
local market. in communities experiencing
Even redistricting can have high housing demand. This is
an impact on local real estate These numbers are supported why even the empty nester
values. Often when a district by research from the National households know that their
constructs a new school or Association of Realtors and are vote for good schools is a vote
moves an elementary, middle, applicable across the country. to maintain their real estate
or high school boundary line, A study of Ohio school districts investment. Thankfully, our
families make the switch too, showed that an increase of about 20 Issaquah School District is at the
selling to escape the ‘old’ percentage points in the profi ciency top of the list.

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