Real estate has always been about “location, location, location.” The reason for that now is different than before, however, as in parts of the United States without high speed internet access, realtors are having trouble selling homes. What was once seen as a luxury is now a necessity, and areas where high speed internet providers do not already have infrastructure set up for service are suffering.
More from NOOGA.com:
Nearly one in three rural Americans lacks access to broadband Internet service, compared to one in 100 urban Americans, local officials said, citing the Federal Communications Commission’s latest Broadband Progress Report.
The FCC defines high-speed Internet as 25 megabits per second or more. Fiber can deliver speeds of 1,000 megabits per second.
“Within the last two years, we’ve really seen a push [in a desire for high-speed Internet],” Close said. “It’s almost more important to have high-speed Internet as opposed to fiber TV.”
That’s because people are watching television online or want to work from home. They want to be connected to the rest of the world, he said.
The Wall Street Journal article cited a study from researchers at the University of Colorado and Carnegie Mellon University.
The report also indicated that fiber optic connections, the fastest type of high-speed Internet available, not only entice buyers but also add significant value to the price of a home.
Unlike telecom companies, which are legally obligated to make telephone service available to every residence in their service area, there is no law requiring the same of Internet providers, local officials said.
There are a number of initiatives taking place at the local, state and federal level to bring high speed internet to hard-to-reach areas, much as once electricity and then phone service were universalized. But until that happens, homes outside the realm of internet service providers will continue to be a harder sell.