What do billboards and homes have in common? Location, Location, Location. Remember, all markets are local when selling homes. It seems the same is true for billboards!
We recently traveled to Orlando, Fla. for Spring Break and on the way down noticed the number of empty bill boards. Typically these boards display ads for area attractions, hotels, restaurants and real estate. It seemed that at least one-third of the boards were vacant.
On the way home I decided to count the number of boards with content, as well as the ones that were empty. What I discovered was very interesting! From I-475 around to I-75 approxiamatley 10-percent of the boards were empty. However, of the empty boards, many were old, dilapidated and in need of repair. In other words, even in a great economy they weren’t great boards and don’t have good location.
On the stretch of I-75 that goes through downtown Atlanta the boards are covered in content. Same goes for the stretch of I-75 that leads to my home in the ex-burbs. It seems that the suburban boards in the popular, close-in counties have a lower vacancy. Once you leave Cobb county headed north, there are more empty boards. The same is true in real estate, the counties where inventory is selling the most quickly are the core counties – thoses closer in.
It is an interesting sign of the times, don’t you think?