Valbridge Property Advisors Conducts Market Studies to Determine the Impact of Wireless Communication Towers on Property Values in Phoenix

PHOENIX, Sept. 20, 2018 /PRNewswire-PRWeb/ -- Valbridge Property Advisors, the largest independent commercial property valuation and advisory services firm in the United States, announced today the completion of a market study in Phoenix, Arizona to determine the impact, if any, on residential property values as a result of the presence of a wireless communication tower. This independent market study was conducted by Valbridge Property Advisors at the request of T-Mobile.

Karl Finkelstein, Vice President of Marketing and Business Development for Valbridge Property Advisors, remarked, "Everyone always expects excellent cell phone reception and that connectivity requires an adequate cell phone infrastructure. We studied the impact cell towers have on property values, and our appraisals indicated there was no statistically significant impact. A majority of the property values in neighborhoods with cell towers are in line with a majority of the property values in areas without cell towers."

The study was conducted in five sub-areas including Goodyear's Cotton Lane, Chandler's Germann Road, Mesa's Crismon Road, Gilbert's Chandler Heights Road, and North Phoenix's Rough Rider Road. To prepare these sub-area studies, the center points of each sub-area's primarily single-family residential areas or specific subdivisions were identified by latitude and longitude. Arm's length single-family residential sales from the Q1 2015 through Q1 2018 were located and verified to assess the transactions.

There were 37 paired sales in the Phoenix market, and 20 of the pairings indicated increased home prices within the 0.25% sphere of influence while seventeen of the 37 pairings indicated decreased home prices. The conclusions to each sub-area are as follows: Goodyear's Cotton Lane had a nominal difference, Chandler's Germann Road had no measurable difference, Mesa's Crismon Road had no measurable difference, Gilbert's Chandler Heights Road had no measurable difference, and North Phoenix's Rough Rider Road had no measurable difference. No measurable difference is defined as a less than 1% difference; nominal difference is defined as 3-5%. The data indicates there is no negative impact on value for properties within the 0.25 mile sphere of influence.

To request a copy of the study findings, visit Valbridge.com.

ABOUT VALBRIDGE PROPERTY ADVISORS
Valbridge Property Advisors is the largest commercial property valuation and advisory services firm in the U.S., with more than 675 staff and 200 MAI-designated appraisers in over 70 office locations across the nation. Valbridge provides independent appraisal services consistent with the highest industry standards of practice. Each Valbridge office is led by an appraiser who holds the MAI designation of the Appraisal Institute. For more information about Valbridge Property Advisors, please visit https://www.valbridge.com.

SOURCE Valbridge Property Advisors