Wednesday, May 23, 2007

Lack of broadband hurts Tahoe property values

It's only a matter of time before properties in broadband black holes began to fetch less than comparable properties that have high speed Internet access. That downside is likely to be exacerbated in the current soft real estate market:

The lack of high speed internet access frustrated both business owners and residents in the area, and also began to take a toll on real estate values. Local real estate agent and petition organizer Brett Williams of Agate Bay Realty had this to say: “It’s starting to affect the values of the properties of the areas that are not serviced by high-speed,” said Williams. “If you are trying to fill a rental property, two that are similar, one with high-speed and one without, its difficult to lease the second property. You have high-tech people who are looking to lease a property for four to five months for a ski lease, and can’t telecommute.”

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