Do Internet Connections Raise Property Values?

April 23rd, 2010

internet and social media symbols

Alexandria Virginia was hoping that Verizon would bring its high speed internet and video service called “Fios” to the area, and Verizon chose not to. Now Alexandria Virginia is hoping to be a test site for a new high-speed internet service being developed by Google. And anyone that owns real estate in Alexandria should hope this happens!

Having high speed internet access, while one factor of numerous factors that affect real estate values, would be good news for real estate in Alexandria. The speeds for data are supposed to be 100 times faster than most sources. I, for one, might lean towards buying a home in Alexandria for this reason alone! And if having this type of high speed advantage were to win over more people, that creates demand, which pushes up real estate prices.

Alexandria Virginia hopes to be selected as a test city. Google calls this nationwide project the “Fiber for Communities Project”. I’d call it the “Fiber For Real Estate Benefit Project’, that is how much I believe in these types of technology infrastructure improvements, and there power to create population movement and real estate demand.

The deadline for responses from interested communities was March 26. I hope everyone that wanted to get in, got in! Montgomery and Prince George’s counties in Maryland were also interested in the Google project. Google will decide by the end of 2010 who is in, stay tuned.

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Brian Martucci is a loan officer for Capital Bank Home Loans, a division of Capital Bank, N.A. He has been in the mortgage industry since 1986 and has served in a number of roles, including loan processor, loan officer, mortgage broker, branch manager, and vice president. Brian Martucci – NMLS# 185421. His opinions do not necessarily reflect the opinions and beliefs of Capital Bank Home Loans or Capital Bank. Capital Bank, N.A.- NMLS# 401599. Click here for the Capital Bank, N.A. “Privacy Policy”.

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