Park Here, Pay More

As featured in The Wall Street Journal

Written by Sanette Tanaka

 Image Courtesy of the Article

Image Courtesy of the Article

In this WSJ article, Sanette Tanaka highlights the trend for residences with parking to be worth more than those without, "Many cities on Zillow's list are budding metropolises that attract suburbanites and empty-nesters who are accustomed to having a car, says Dean Jones, principal and owner of Realogics Sotheby's International Realty in Seattle. Seattle has seen a 70% increase in residents living downtown since 1990, according to the Downtown Seattle Association. 'It makes sense for brokers to assure prospective buyers, 'We still have room for your car,'' Mr. Jones says. In Seattle, parking is such a hot commodity that stalls alone command a premium. 'Parking stalls easily fetch $50,000 to 60,000,' he says, adding that some can cost as much as $100,000."