With the passing of the new accountability act which allows students in failing school districts to opt in at another school of their choice I think this will significantly improve the sale-ability of homes in these failing districts. If you take the concern of school district out of the home buying process you now have ares of town that before did not compete for the same buyer competing. It is a known fact you can get more house for the money in certain areas of town and for many buyers it is all about the most bang for your buck and those buyers have been shying away from failing districts if they have school age children, intend to in the future or are concerned about resale options.
I read an article in the Huntsville Times yesterday that stated that areas of north Huntsville with failing schools would be affected negatively if these schools were closed due to low enrollment. I disagree with this theory. How can a failing school be better for your area than no school at all? Having no school and changing to a passing district can only help resale and values. But I go back to my prior statement that if you take the school district out of the buying algorithm then you have opened up a ton of available homes for buyers to look at.
It will be very interesting to see how home buyers respond to this change and if my theory proves right that homes in failing districts will become more desirable because parents can choose the school. If you want to put your child in a district closer to your office you can do so or if you want them near Grandma you can do so. I have mixed feelings about the bill in general and think it is going to hurt home sales in some of the highest scoring districts because I don’t need to buy in the district I want my children to go which opens a whole different discussion which I will talk about in my next blog.
What do you think? Do you agree with my theory or do you think homes in failing districts will be hardest hit with this change?